Latest news with #businessformation
Khaleej Times
2 days ago
- Business
- Khaleej Times
'Dubai pushes you to think ahead': British expat In UAE
British chartered accountant-turned-CEO Jeri Williams is a relative newcomer to Dubai, arriving in 2022 with her husband and two young children. The 41-year-old, who is the owner of Smooth Dubai, noticed a huge demand for information from other expats who had recently moved to Dubai or were thinking of relocating and wanted to establish their businesses here. It inspired her to set up her first international office specialising in company formation, tax, and accounting. Here, she talks about her journey to financial independence. If you had to use one word to describe money what would it be? Freedom. If you had to write a letter to money, what would you say? Dear Money, thank you for showing me what is possible. Thank you for allowing me to take care of my family. I promise to put the effort in to enjoy the rewards. How would you describe your relationship to money? I love money, it's given me a life I could only ever have dreamed of. How do you think this relationship was formed? When we were growing up, we didn't have much money. My mum raised us on her own and she worked really hard just to make ends meet. That instilled a really strong work ethic in me. I knew that if you want something you need to work hard for it. What lessons about money management did you learn from your mother? My mum showed me that family is more important than anything, including money, and to be happy with very little, so that anything else is a bonus ... I owe her everything. Who do you speak to about money matters and is it something you consider 'taboo'? I speak to my husband and close friends about money, but in the UK, I think, it is very taboo. Not so much in Dubai as it seems everyone wants everyone else to do well. There is less jealousy. Who has taught you the most about financial management? I am self-taught; I studied for seven years to become a chartered accountant and ran my own accounting firms in the UK and the UAE. What has been the most profound experience you've had so far in relation to money, and what has it taught you? I really struggled financially in my early 20s and then I met my husband, and he had always been great with saving and sensible with money. It made me realise I needed to do better. How do you think living in the UAE has changed your relationship with money? Living in Dubai has really shifted how I see money. It's not just cash — it's a tool that fuels creativity, connects me to global opportunities, and helps build a better future. The fast-paced vibe here keeps you on your toes and pushes you to always think ahead. It completely changed the way I handle my finances. If you could give your child or your younger self one piece of advice about money what would that be and why? Invest from the age of 18, I started much too late. What do you value spending money on? Travelling, being able to create memories with my children, and looking after my mum. Do you long-term plan your finances? Yes, I focus on investing, pensions, and building my business assets. I also run multiple businesses across different continents, diversifying income streams reduces risk and helps me plan for the future. What is your long-term goal that is pegged to your finances? To be able to pay off my mortgage and own our dream home in Dubai (as well as in the UK, which we already have). How much do you save each month? Around 15-20 per cent. I would expect to have a net worth of around £20 million (Dh99 million).
Fast Company
28-05-2025
- Business
- Fast Company
Thinking about starting a business this year? Here's what to know before you take the leap
Starting a business is one of the most optimistic acts a person can take. It signals confidence in your idea, your market, and yourself. But if you've been feeling hesitant lately, you're not alone. While early 2025 kicked off with strong startup momentum, our team at Registered Agents Inc observed a sharp decline in February business formations—down 13% from January and 4% year-over-year, according to our latest Monthly Business Formation Report. This is a statistic, but it's also a reflection of the moment we're in. Trade policy is shifting, interest rates remain elevated, and federal budget cuts are beginning to ripple through sectors that depend on government contracts or consumer confidence. But even in times of uncertainty, businesses are still being formed—over 442,000 of them in February alone. So, if you're on the edge of a decision, here's what to consider before you file your paperwork or pitch your first customer. UNDERSTAND THE TIMING, BUT DON'T LET IT PARALYZE YOU There's never a perfect time to start a business, but some times are more complex than others. Right now, entrepreneurs are navigating a fluid economic environment. Tariffs are roiling global supply chains. Federal cutbacks are creating regional ripple effects and consumer behavior continues to shift post-pandemic. That said, we've also seen how local momentum can override national headwinds. In Washington, for example, business formations jumped 38% in February, buoyed by local grant programs and proposed investor tax credits. Louisiana saw a 19% increase thanks to economic activity tied to the Super Bowl and infrastructure expansion. Lesson? National trends are important—but local conditions often drive outcomes. BUILD A BUFFER—FINANCIALLY AND EMOTIONALLY Starting lean has always been smart, but today, it's essential. With inflation still impacting costs and the threat of trade wars looming, your business plan needs breathing room. Whether it's extra savings, a part-time income stream, or a longer runway before profitability, a buffer gives you the flexibility to adapt when things (inevitably) shift. Consider setting aside at least three to six months of operating expenses in a dedicated reserve account. This financial cushion can buy you crucial time to respond strategically rather than react impulsively when challenges arise. And don't forget the mental buffer. Starting something new takes energy and resilience. Give yourself permission to iterate and pivot without seeing it as failure. LOCATION, LOCATION, LOCATION Considering where you form your business is equally as important as why. States like Wyoming, Texas, and Delaware have long been known for business-friendly environments. But new players are emerging, too, like New Mexico and Nevada. Our data has consistently shown that policy matters. States with reduced red tape, better privacy protections, and lower filing fees tend to attract more entrepreneurs. If you're mobile or remote-friendly, exploring different state options for incorporation can offer real advantages. PLAN FOR COMPLIANCE FROM DAY ONE This may not be the most exciting part of the startup journey, but it's one of the most important. From entity type to EIN to registered agent services, setting up properly can save you from expensive issues down the road. Many founders delay or overlook this, and it catches up fast—especially if you're planning to raise capital or scale across states. For example, is your business name available in your state and as a domain name? Can your registered agent still serve you if you expand into another state? And how will you stay on top of annual compliance requirements? A small investment in setting things up right is often the difference between staying nimble and getting bogged down. FIND THE SIGNAL IN THE NOISE While business formations overall may have dipped in February, hundreds of thousands of people still said 'yes' to their vision. If you're thinking about joining them, ask yourself this: Are you waiting because it's truly not the right time, or because the climate feels uncertain? Because uncertainty is a constant in business. The entrepreneurs who succeed are often those who learn to move through it. The entrepreneurial spirit is alive and well and evolving. Founders today are more intentional. They're launching smarter. They're picking their moments and doing the work to ensure their foundation is solid. If you're planning to take the leap this year, don't let national turbulence steer you off course. Just make sure your parachute is packed and your paperwork is in order.
