Scaling is essential because sustained growth frequently serves as a panacea for all other potential and actual startup failures.
In the end, founders, staff, and investors want to know that the firm to which they are devoting time and/or money has a fair likelihood of expanding extremely quickly over a very long period of time. It ultimately comes down to whether a startup can grow sustainably (how quickly, for how long, and how financially), which will determine whether it fails, succeeds just modestly, or develops into the enormous, long-lasting company that all founders and investors hope for.
Scaling is crucial since it is associated with growth, at least in this sense.
Over time, the United Arab Emirates (UAE) has lessened its reliance on oil. Instead, it has concentrated on developing a knowledge-based economy by utilizing cutting-edge ideas and technology.
Dubai, which is home to over 10,000 small and medium-sized entrepreneurs, is the main force behind the country’s objectives.
In fact, the UAE wants to produce 20 unicorns, or companies, worth more than $1 billion, over the course of the next nine years. Without a question, achieving this goal would make Dubai the center of attention.
In terms of technological development, digital advancement, and implementing creative ideas, the emirate is already a pioneer in the MENA region.
The different type of scaling options opted by business owners in UAE are:
– Company owned expansions
– Joint ventures/partnerships
When scaling a startup, you should take the following factors into account:
– Create a sound strategy.
– Invest heavily in technology.
– Optimize marketing.
– Strengthen reputation.
– Choose the proper personnel.