Dubai was ranked by e-commerce site Oberlo.com among the best global cities to start a business in its latest study.
Dubai is the sole Middle East city that made it to Oberlo’s index, which lists the best cities to provide the tools potentially required to maintain and build an enterprise from the ground up.
Originally a list of 200 cities around the world, it was narrowed down to 75 based on factors relating to innovation, economic strength and entrepreneurial spirit.
Dubai came 59th with an overall score of 59.9 with London topping the index overall with a score of 100, followed by New York (92.3) and San Francisco (88.5).
Dubai scored 79.9 in Economic Freedom index while London ranked first with an 88.7, followed by New York’s 86.8 and San Francisco with 86.6 points.
Meanwhile, Dubai is the only city that achieved 100% in the Business Tax index thanks to its zero-tax environment.
The emirate also scored well in Small Business Loan index with 95.4 % score.
The study factored in 13 categories including Economic Freedom, Days to set up an LLC, Female entrepreneurs, Covid-19 Support, Tech Ecosystem, Human Tech Capital, Logistics Ecosystem, Postage Price Deviation from Median, Access to Global Market, Unemployment Benefits, Small Business Loans, Business Taxes and Venture Capital.
“Success, of course, occurs when preparation meets opportunity, so we decided to delve into the topic further by investigating the cities which offer the most supportive entrepreneurial ecosystems, as well as the frameworks to ensure long-term success,” the index read.
The index also focused on the support systems available for female founders in each location, looking at the level of COVID-specific economic assistance available to businesses; and reviewing financing and bootstrapping, such as unemployment benefits, small business loans, local business taxes and venture capital.