Tuesday, 02 January 2024 12:17 GMT

Ras Al Khaimah: Why More Young Citizens Are Turning To Entrepreneurship


(MENAFN- Khaleej Times)

Ras Al Khaimah's business landscape continues to witness steady growth, with 180 youth-led projects entering the market this year. The rise underscores the emirate's success in fostering a culture of innovation and entrepreneurship among young Emiratis.

According to Youssef Muhammad Ismail, Chairman of the Supreme Committee of the Saud bin Saqr Foundation for Youth, more than 2,650 establishments have been supported by the foundation to date. Around 35 per cent of these are now fully operational, while the rest are in various stages of development.

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“The number is encouraging,” he said, noting that such initiatives continue to cultivate financial independence and entrepreneurial ambition among the younger generation.

Ismail explained that many young Emiratis are turning to entrepreneurship as a means to achieve greater financial stability, particularly as they seek to balance long-term income and retirement goals.“Entrepreneurship provides a sustainable pathway toward independence and long-term security,” he added.

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Looking ahead, Ismail emphasised that the next stage of development will require small and emerging businesses to align with international standards and strengthen global partnerships. He noted that by 2026, many international firms are expected to collaborate with UAE-based startups, creating new opportunities for cooperation and market expansion.

He encouraged entrepreneurs to think beyond short-term profit and focus on sustainable growth.“Small businesses should form alliances or clusters with other local entities to enhance competitiveness and visibility in global markets,” he said. He added that building strong internal structures and preparing for international collaboration will be key as the UAE continues its drive to become a regional hub for innovation and entrepreneurial excellence.

The emirate's supportive business environment has already helped several local ventures grow from small home projects into fully established enterprises.

According to Abdullah Al Balooshi, owner of T House, Ras Al Khaimah's streamlined licensing processes and cross-ministry support have played a central role in his business journey.“I started from a home project, then expanded and opened a shop,” he said.“The facilities available in Ras Al Khaimah make the process much easier. Support reaches across all ministries, and local institutions like the Saud bin Saqr Foundation for Youth Project Development help with official procedures and certifications.”

He noted that entrepreneurs benefit from faster licensing, priority in processing, and guidance through formal requirements, which are advantages that save both time and resources.“These things help us focus on growing the business instead of getting caught up in paperwork and approvals,” Al Balooshi explained.

After starting with a small catering and event-related home business venture, Al Balooshi developed T House, which has since grown into several branches across the UAE.“The support we receive makes it easier to plan and allocate budgets. Without it, the cost differences would be huge,” he said.

However, Al Balooshi acknowledged that challenges persist, particularly around staffing and supply chain management.“The biggest challenge in the restaurant sector is suppliers,” he noted.“You can't always find consistent products, so you need plans A, B, C, and D.”

Looking ahead, he hopes to expand T House further within the UAE and eventually beyond its borders.“We've already opened a branch in Sharjah and are working on more locations,” he said.

With continued institutional backing and a growing ecosystem that supports young innovators, Ras Al Khaimah is positioning itself as one of the UAE's most dynamic centers for youth entrepreneurship and sustainable business growth.

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