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Business plan for a security company in Dubai

University: Bucks New University

Introduction:

Introduction to Enterprise Enterprises thrive due to many factors; desirable products, effective marketing, blindly optimistic and wealthy investors, dynamic working cultures and, of course...good leadership and motivated employees. Nevertheless, in all likelihood, a business can truly only survive in the longer-term by remaining vigilant and insightful of – and adaptive to - its operating environment. This includes keeping a careful and respectful eye on similar organisations within it. The security sector is perhaps more fragile than others. Services and consultancies are in many cases contracted, licensed or regulated by Governments and public authorities.
Perversely, this means projects or administrative regimes can be uprooted or radically changed at short notice, possibly due to public pressure or changes in ministerial personnel. Moreover, commercial security and risk services are often, by their very nature, focused around delivery into higher-risk (and therefore, potentially, higher profile) domains.
Experience tells us, that, either to avert, or following a major crisis, Governments will often insist that direct control of a scenario or problematic sector needs to be established. Such inconsistencies within the operating environment in addition to the routine challenges around finance and management, vex security enterprises in all theatres of the world. Sudden changes within the operating environment can thus cause damaging impacts to security enterprises and their clients. Equally, such situational and market volatility does also provide the most fantastic range of opportunities for security enterprises to excel, engage and expand in all theatres of the globe.
Examples of changes in the strategic political or local operating environment that may either slowly, or more immediately, impact security enterprises – or give the initial impression that they may do so - are manifold. I will begin by citing FOUR very random examples of what might be dubbed strategic (and operational) ‘gamechangers’ within a commercial environment for any security consultancy:
1. The introduction of British troops into Northern Ireland in 1969 to separate warring factions, and provide protection for civilians, following the escalation of sectarian and terrorist violence in Northern Ireland, and concerns at the neutrality of some public services 

2. The shooting and killing of several citizens in Iraq by a handful of employees working for Blackwater in 2007. This led to the ejection of that company from Iraq by the government, a clamp down on foreign private security contractors in country. It also acted as a catalyst for the ‘Montreux Document’: International Code of Conduct (ICoC) for Private Security Service Providers which was codified into an auditable guidance system by ASIS: Management System for the Quality of Private Security Company Operations (ANSI/ASIS PSC 2012)

3. The establishment of the Afghan Public Protection Force (APPF) by President Hamid Karzai’s administration following his declaration in 2010 that all Private Security Contractors will be disbanded and services provided direct by the APPF.

4. The last-minute decision by the UK government to deploy several thousand armed forces personnel to guard the London 2012 Olympics; the British Security Industry Authority had warned about significant potential shortfalls more than two years beforehand.

How can we effectively and professionally illustrate the Operating Environment?
Your answers to the above ‘reflective exercise’ might emanate from your own models and methods of evaluating an operating environment. But, for all of us, as we begin this module it is worth familiarising ourselves with the core business environment analysis models: 

-Porters Five Forces: Developed by Michael Porter. The five competitive forces in an industry… entry costs, potential new entrants, bargaining power of buyers, bargaining power of suppliers, rivalry among current competitors (Porter: 1980: 4).
Companies and other organisations often also utilise the Strengths, Weaknesses, Opportunities and Threats (SWOT) and Political, Economic, Sociological, Technological,`Legal and Environmental (PESTLE) models in an attempt to utilise intelligence and present sometimes complex risks within the framework of a universal methodology that the businesses can easily absorb and assimilate.
SWOT analysis is credited to Albert Humphrey and has been in use for almost fifty years. In particular, it uses opportunities and threats to examine external factors and it is these external factors that are important here. PESTLE is credited to Francis Aguilar’s 1967 model. It is effectively used to consider the macro environmental influences that affect an organisation. Therefore, these management models can be considered effective and wellknown to represent and coherently structure a broad suite of intelligence findings to an organisation. Such information could, for instance, presented quarterly at business unit updates and planning sessions where it is offered to chief executives and C-suite decisionmakers.
These analytical models are widely established. But often, because we feel we are familiar with them, we don’t carry out the analysis in the systematic manner required for them to work. The psychology model of learning takes us ‘experts’ to stage four: ‘unconscious competence’! This is where we feel we can act almost on ‘autopilot’ and our actions become intuitive rather than reflective and analytical. This is perhaps the most dangerous mind-set that an entrepreneur can move into. Therefore, even if you are familiar with the business analysis models above, we urge you to spend a little time refreshing your knowledge by reading about them on any good business or industry website (eg, mindtools.com or businessballs.com).

Competitive Intelligence
“Competitive Intelligence is not an invention of the 20th century. CI has been around as long as business itself. It may have operated under a different name or under no name at all, but it was always present. Just review the story surrounding 19th century British financier Nathan Rothschild, who managed to corner the market on British government securities by receiving early warning of Napoleon's defeat at Waterloo. He used carrier pigeons, the Email of his day. He knew the information to watch and how to make sense of it; in the end, he used this intelligence to make a killing in the market.” (Leonard Fuld, What is Competitive Intelligence? 2013) CI has alternately been known as ‘competitor intelligence’ (although this is just one subdiscipline) and gained a grounding in American business journals half a century ago. The overall purpose can plausibly be summed as a various set of sub-systems woven together – to a greater or lesser extent – within a corporate body in order to provide an organisation with ‘competitive advantage’ over others in the field.
Lots of content exists from management journals and institutes to help us establish more precisely what CI physically is not, and we will reflect upon some core work in this sphere later.

“Customers, suppliers, substitutes and potential entrants are all “competitors” to firms in the industry and may be more or less prominent depending on the circumstances. Competition in this broader sense might be termed extended rivalry.”
An important document emerged in 2008 that attempted to pull together the range of definitions and parameters set by CI practitioners and academics. The Society of Competitive Intelligence Professionals published a definition in its Journal:
“… a necessary, ethical business discipline for decision making based on understanding the competitive environment.” The Journal’s former editor, Stephen Miller (2001), also describes CI as a positive corporate
business function:
“CI enables managers in companies of all sizes to make decisions about everything from marketing, R&D, and investing tactics to long term business strategies”. Perhaps we can conclude the following meanings about the term Competitive Intelligence:
-That its focus is on the external business environment
-That there is some form of process involved, or established business function/s, whereby information and knowledge is gathered and processed into an ‘intelligence product’.
-The provision of an Early Warning System to upcoming major market changes or incidents One very prominent thought-leader within the CI field is Leonard Fuld who has been a driving force behind pushing CI into established industry and academic practice. Fuld produced a widely read book in 2006 - The Secret Language of Competitive Intelligence - 

which underscored his primacy in this sphere. In his 2013 article ‘What is Competitive Intelligence? Fuld firmly established ten principles of what competitive intelligence is, and is not. Fuld maintains that CI is:
-Competitive Intelligence is Information that has been analyzed to the point where you can make a decision.
-Competitive Intelligence is a tool to alert management to early warning of both threats and opportunities.
-Competitive Intelligence is a means to deliver reasonable assessments.
-Competitive Intelligence comes in many flavors [sic]
-Competitive Intelligence is a way for companies to improve their bottom line.
-Competitive Intelligence is a way of life, a process.
-Competitive Intelligence is part of all best-in-class companies
-Competitive Intelligence is directed from the executive suite
-Competitive Intelligence is seeing outside yourself
-Competitive Intelligence is both short- and long-term

In a survey of life science executives, Fuld introduced his White Paper findings pertinently:
“Many of today’s companies and their executives strikingly resemble the boiling frog. They remain comfortable though the surrounding environment is changing, sometimes fatally, for their enterprises. Business history is littered with disruptions that upend or bankrupt many key players.”
In the digital era, with global interconnectedness, and greater commercial pressures for transparency and anatomical information, Open Source Intelligence gathering (OSINT) has become big business. Unfortunately, the line between legitimate intelligence activities and economic espionage is sometimes crossed. This is discussed in the Protection of Assets (PoA) Manual, (Allison, 2008), ‘As Michael D. Moberly, former chairman of the ASIS
International Information Asset Protection Council notes (2006):
“An unfortunate reality of international business transactions is that the probability that a company will…experience some form…of infringement, misappropriation, counterfeiting, or product piracy is growing.”
It goes on to site numerous historical examples, including the Egyptian Pharaoh Rameses, the Chinese military strategist Sun Tzu and the Byzantine Emperor Justinian amongst others, of breaches of what is referred to as ‘Information Asset Protection’ (IAP). (Allison, 2008), The PoA continues by recommending the adoption of a risk management approach which starts with identifying assets to be protected.


Case study: Hewlett Packard; the company where competitive intelligence went too far
A company that is a prime example of how intelligence gathering activities can cross the boundary of what is legal and permissible is the IT hardware manufacturer, Hewlett-Packard (HP).
HP, based in Palo Alto, Calif., was founded in 1939 by Bill Hewlett and Dave Packard …Today HP operates in more than 170 countries and is ranked…on Fortune magazine’s Fortune 500. Before the spy scandal came to light, the
company also was known in the industry for its integrity.’ (Society of American Business Editors and Writers [SABEW], 2007).
Ironically, the issue I will discuss here arose after a series of anonymous security breaches from one of its directors, George Keyworth. In 2005-‘6 the then non-executive Chairwoman, Patricia Dunn is said to have been upset at relatively minor boardroom leaks to the Wall Street Journal, News.com and others after a ‘CNET report where a director revealed he was tired after a planning session and admitted in January that HP hoped to sell a lot of
computers based on AMD's chips.’ (Vance, 2006) Whilst minor, this breach showed disunity between board members and lack of control of the board by the Chairwoman.

As a result of this Dunn contracted a third party firm of private investigators, Security Outsourcing Solutions, who, in turn, contracted the services of another…firm that employed a technique known as pretexting to gain access to the personal phone logs of both HP's directors and reporters. The firm's staff used personal information such as the directors' and reporters' Social Security numbers to trick phone companies into releasing the phone records (Vance, 2006). Investigators also trailed some reporters, including during a family trip to Disney Land (Goodin, 2007).
In September 2006 the story broke that, ‘Chairman Patricia Dunn okayed the internal investigation,’ with HP maintaining that, ‘it told partners not to do anything illegal as part of the probe.’ (Vance, 2006). In October that year, Dunn and HP ethics chief Kevin Hunsaker, private investigators Ronald DeLia and Matthew DePant were reportedly charged with ‘fraudulent use of wire, radio or television transmissions; taking, copying, and using
computer data without authorization; identity theft; and conspiracy for impersonating board members and reporters in order to obtain their phone records.
The fall out showed that internally, the situation was toxic, with one board member, Tom Perkins revealing that he quit in disgust after having learned of what had taken place. To make things even worse, HP refused to comment on whether it had tapped the phone records of its CEO, Mark Hurd. This ‘tarnished the company's reputation in the wake of solid recent financial reports.’ (Vance, 2006) Externally, writes Alex Koritz, public relations director for Sprout Marketing commenting in Society of American Business Editors and Writers [SABEW: 2007):
“HP also was quite delayed in their response, which breaks the No. 1 rule of crises management, get information out fast and accurately so you can help “guide” the story.”
HP has subsequently had to pay a $14.5 million fine and finance a fund to fight violations of privacy and intellectual-property rights. California’s Attorney General, Bill Lockyer said at the time, “Fortunately, Hewlett-Packard is not Enron… I commend the firm for cooperating instead of stonewalling, for taking instead of shirking responsibility, and for working with my office to expeditiously craft a creative resolution (Fried, 2006).” Subsequently, charges were dropped against the defendants, although Dunn resigned her Chair. The final case against one of the investigators involved was not heard until December 2012 when he was sentenced to three months in prison. The Fuld Gilad Herring Academy of Competitive Intelligence runs the Competitive Intelligence Certification Program (CIP). Its President, Dr Ben Gilad, says: “If more companies took care to thoroughly train their managers and executives in how to produce and how to use intelligence in all levels of the organization, fiascos such as those at HP…would be much less likely to occur.” (Academy of Competitive Intelligence, 2006).

TASK:
Go to the Strategic and Competitive Intelligence Professionals website: www.scip.org Spend a little time looking at some available reports in the ‘Publications’ link. On Blackboard’s Discussion Board, write a brief excerpt to discuss if competitive intelligence is a separate discipline, or merely another set of terminology for what we might understand as 

‘Market Intelligence’ or ‘Business Intelligence’?
We will now begin to reach into the second part of the term ‘competitive intelligence’. What does ‘intelligence mean’ in terms of being a business or organisational product? Moreover, how can we organise the production of intelligence? And what can go wrong if we mess up the process?
Despite a huge amount of press and political anxiety around functions associated with ‘intelligence gathering’ within the security sector, the fact remains that research, monitoring and evaluations of the competitive environment is routinely carried out all types of organisations, often under the guises of more benign terminology in all other sectors. To facilitate your knowledge in this area, please find an optional set of course notes (circa
4000 words) on: ‘what is intelligence?’ in ‘module materials’ on Blackboard. However, far less available information can answer popular questions within enterprises (particularly SMEs and those with minimal resources to allocate to ‘research’). To what extent should we be carrying out CI set against other priorities such as client meetings,
answering the phone and making sales? Moreover, what type of research is ethical and permissible? And can external contractors really step into our corporate shoes and realistically tell us what our risk and opportunity factors are? The society of ‘Strategic and Competitive Intelligence Professionals’ (www.scip.org) was formed in 1986 (then under a different name) for executives to knowledge-share, network and assist executive decisionmakers tackle such dilemmas.

Answer

Executive summary

In the study, efforts have been made to deliver the scope of the business by the drawing a business plan. In the business plan, I am the security consultant himself have decided to start a business as a sole proprietorship firm in Dubai. The reason behind his intention of starting business in Dubai is the availability of vast business opportunities. Various market strategies and market plans are executed to frame the gathered information about the business plan. After the critical analysis of the market research, the idea of positive outcomes has been developed. It is found that starting business in Dubai will be profitable, especially the security consultancy services.

Introduction

The business plan refers to the framework of the business objectives and targets that are achievable and realizable after putting the effort during a course of action. This study aims to describe the methods of the business plan for the security consultancy firm and to identify the investment opportunities for the security consultancy firm (Brinckmann et al. 2015). The business report representing the business plan refers to the establishment of the security consultancy firm in Dubai by the security consultant. The objective of this study is to organize business plan by studying operation management and planning security management for the security consultancy firm. In addition, various market analyses along with marketing plan will be oriented with respect to the business plan. Finally, it is decided to prepare financial projection or financial planning by creating the balance sheet, income statement and cash flow statement to persuade an international investment banker for funding in my business.

Vision and mission of the security consultancy firm

In the context of establishment of the consultancy firm in Dubai, the owner I am the owner and have set a certain vision and mission with respect to the firm, which are as follows.

The mission of the firm is to become the top security service provider globally by establish brand in the hearts of the people (Evans, 2015). The visions of the firm is to serve every individuals or the group of individuals, irrespective of their involvement in business or not and to give protection with advanced technology and skilled security guards.

Objectives of the security consultancy firm

Contributing to the mission and vision of the firm it becomes necessary to set the objectives to determine the best deliverables of the business to the clients. The objectives outlined with respect to the firm are as follows.

  • To earn huge revenue every year
  • To employ skilled, determined, qualified and honest staff
  • Provide customized security service, according to the needs of the clients
  • To expand the business to every corner of Dubai within 5 years
  • Adapt utilization of advance technology and to tie up with existing remarkable security consultancy firms

Operation management of the proposed firm

Operations management utilizes various resources, which include materials, equipments, staff in addition, technology to produce goods and service for the client's based on their demand. The Owner, with determined mind has decided to startup the business with physical protection plan. The discussions of both the terms are executed below.

Company startup

In order to run the business successfully, the objectives are first required to be fulfilled, if any of the objective remain untouched, even the beginning of the business might result into failure (Brinckmann & Kim, 2015). Thus, I need to intelligently deal with the noted objectives and started the business with certain practical assumptions, along with its implementations.

  • Selected the preferred location in Dubai, where the demand is high and the supply is scarce
  • Targeted mainly the business firms, operating locally to begin their service with
  • Made their business premise huge enough, so that trainings and accommodations to the employees could be provided
  • Established coordination with local government agencies, to get assistance from them in case of emergencies, like fire or any kind of natural calamities
  • Kept their head office or regional communication officer at the center of Dubai for the ease of access

The physical protection plan

After the successful startup of the security consultancy firm, the owner I am hereby projecting physical protection plan to ensure the efficient and effective reviewing of protection to be delivered. In this aspect, certain schematic design has been sketched with the help of utility layouts, maps, floor plans, evacuation plans, etc. However, apart from the systematic approach to the protection plan for the clients, the interior structure of the firm is also modified with advanced technology. Moreover, the equipments required to be used for providing the services are also measured.

Equipments for   external services
No. of items
Purpose
Requirements for the   business premise
Purpose
Security guards
2000
Individuals and business purpose
CCTV 
To recognize the events that might help in future and to   recognize unknown bodies
Fire arms
600
In the situation of threats, like theft, robbery, terrorism, etc
X-ray machines
To utilize them in case of emergencies
Security tools
350
To eliminate entrance of the unknown threatening objects or   individuals
Metal detectors
To identify the metal objects, which are threats to life, like   guns, knives, etc
Bomb detectors
290
To ensure the sense of relief by identifying the presence of   bombs before hand
Training tools
To train the staffs of the organization
Metal detectors
300
To identify the metal objects, which are threats to life, like   guns, knives, etc
Scanners
To records the details of the staffs
Emergency tools
270
Tools like fire extinguishers, ambulances etc  to rescue lives in case of emergencies.
Drop arms
To eliminate entrance of the unknown threatening objects or   individuals

Planning security of intelligence of the firm

Planning for security of intelligence represents the proactive or forward-looking approach to the security management to collect data for analyzing them during the needs (Hollensen, 2015). It is however, understood from the study, that I tend to propose the plan for security of intelligence by the means of service type and security operational plan, which are systematically described below.

Service type

Orientation of the type of services are demonstrated and classified systematically to prevent risk matrix. Contributing to the context, certain service types are measured to render the service outstanding. The service types are bulleted below.

  • Monitoring the premise with CCTV
  • To respond quickly in case of fire emergencies and other emergencies
  • To prevent and shift the unknown bodies from the event
  • To detect the threats, by using advance technologies
  • Ensure ethical practices
  •  Expand the security control centers
  • To verify the intellectual rights like, patent right, copyright, trademark, etc.

The security operation plan

Apart from the orientation of the type of service, the security operational plan is coordinated, complying, the risk matrix. I am hereby measuring the security operational plan to ensure the security service more relevant. The owner has designed the plan in the following way.

  • Monitor the individual's identity with their identity card
  • Handling the entrants sophisticatedly, so that unwanted bodies could be excluded, but their emotions could not get hurt.
  • Verifying the event with the records in CCTV from control room
  • Providing armed security guards in case of special events

Market analysis for the security consultancy firm

Since Dubai is a recognized business city, where opportunities are vast and scopes are immense. Establishing business in Dubai is the desire of majority of the businesspersons throughout the world. Hardly any business runs unsuccessfully in the land of Dubai (Westwood, 2013). Thus, Shahraban Abdullah has found relevant positive and negative information about the business market of Dubai. The owner of the security consultancy firm has exercised market analysis in the following way.

SWOT analysis for identifying land marketing strategies

Before establishing the business, I have performed a SWOT analysis to know the market strategies of Dubai.

Strength
Dubai is the land of   opportunities. Many business operates in this land and providing, employment   opportunities and business opportunities. Newly developed business will be   encouraged with technological and political assistance. In addition, legal   requirements for establishing business of any kind are flexible, thus,   entrusting the going concern of the business.
Weakness
Political issues are   not much of a concern, but the demand and supply of consultancy firms are the   points of concern. Since, the customers are more demanding and the cost of   providing service is high. In order to earn profit, the cost of service   should be high, but high price leads to decrease in demand. Thus, the firm   will take long time gain position in the market.
Opportunities 
Since the numbers of   business are operating in Dubai and every business entities need to avail the   security system by any means. Thus, security consultancy services will   eradicate the problem of scarcity of this kind of service largely.
Threats
As already mentioned,   Dubai is the land, where number of business operates; competitions are likely   to increase largely. Security consultancy firm of Shahraban Abdullah will   face strong threat from its competitors as well as kind of terrorist   organizations.


Based on the SWOT analysis, it has been found that I might not find many difficulties in establishing his security consultancy firm.

Porter’s five forces analysis for identifying service business and personal service

In addition to the SWOT analysis, the owner has also focused on Porter's five forces to ascertain the personal services and service business.

Figure 1: Porter’s five forces analysis

(Source: Chernev, 2015, p.36)

It has been found that threat of new entrants are more, because of the attractiveness and flexibility of doing business in the land of Dubai, Almost 10% of new business are started in Dubai in every 5 years (Di Foggia & Lazzarotti, 2013). Thus, threats of new entrants are high. On the other hand, threat of substitution is very low, because very few similar businesses are operating the area of its establishment. However, the supplier power is also very low, because large number of suppliers belongs to the foreign countries and many of them are not allowed to serve in this kind of business. Similarly, due to the low supplier power and scare substitution, buyer’s power also declines largely. Aggregating the Porter’s five forces, it could be concluded that competitive rivalry is very low, which results in good scope of establishing the security consultancy firm in Dubai.

Competitor analysis for the conclusion of share option

In the context of business plan, management team of the firm must formulate certain business strategy that helps in understanding the strategies of the competitors. However, the single competitor might not create much concern, but the competitors in the industry as a whole might create huge difference (Nash, 2016). Thus, it becomes necessary to develop competitor analysis framework to obtain information about the main competitors and then utilizing the information to forecast the behaviour of competitors. I can thus, ascertained the types of competitors, to whom his firm will compete, to gather the planned actions and the competitor’s strategies and to know the way, competitors might react to the firm's action.

Competitor’s analysis framework

Competitors objectives
  • Competitors are mainly focused on acquiring short-term financial   goals

They are focused on   the serving the high end services at reasonable rate

  • They are focused on the short term profitability

Competitor's current strategy
  • The hiring activity of the competitors are based on the   qualification only
  • They are increasing their capital investment
  • The competitors are practicing strategic partnership and merger   and acquisitions

Competitors assumptions
  • The assumptions of some competitors are based on the   unsuccessful results of historical attempt
  • Some assumptions are based on the industry trends, like   providing similar kind of services without much modification, etc.
  • They are focused on the rules of thumb, like delivering security   services traditionally and not introducing technological skills, etc.

Competitor's resources and capabilities
Competitor’s resources   and capabilities are measured from the SWOT analysis and PESTEL analysis. It   has been found that the competitors have gained strength of customers, due to   the unavailability of the number of similar services. In addition, the   competitors are capable of holding trust among clients and utilize their   valuable human resource ensuring the trust of their brand


Competitor's response   profile
From the 4C’s of   competitors’ analysis framework, it has been found that competitors are   specifically a kind of threat to a new business in terms of public demand,   but they are also opening the opportunities to new entrants by leaving the   current demand unfulfilled, in terms of modern skills.

Based on the various market analyses, it has been found that there is sufficient positive scope of starting my business of security consultancy firm, where he will be able to achieve vat opportunities to expand his business in future. Since, Dubai is the land of business, many foreign investments boost the economy of the country, along with the surge in the economy, number of business, whether may be small or large, are benefited from such boost. However, some threats are present in the business market, but these threats are need to be considered as challenge, which will result in long run success of the business.

Marketing plan involving social media for the firm

Marketing plan involving social media is the summary of all the things and events that occurred or planned with an intention to attain the business goals, by using social media. The business plan must be inspected in accordance with the current needs of the market and to ascertain specifically the goals of the business (livingindubai.org, 2017). I have aimed to market the business over the social media to promote the name of its business. I will apply 4 steps to perform the marketing plan involving social media (Internet).

The first step includes creating social media and objectives

I will mention the S.M.A.R.T. Goals over the internet, especially on Face book and Instagram about the business. Therefore, that the public will come to know about the strategy of the business that is going to be established soon (Arbel, 2015).

The second step includes conducting social media audit

I will distribute the questionnaire in the form of template to gain public response regarding their market strategies and goals. Based on this the I will determine the formation of his business.

The third step includes improving social accounts

I will then try to improve the social media links, especially, twitter, LinkedIn, face book and instagram, because almost 70% of the world's population are following these media. Thus, improving the links will result in the number of followers of the firm, which will help in the firm’s promotion.

The fourth step includes testing, evaluating and adjusting social media marketing plan

Finally, I have tested the trend of the public in terms of their usage of the social media and found the popularity of instagram and face book. Thus, I will try to customize the profile of the business according to the public trend.

Nature of the firm

Since I will organize the business of security consultancy, the nature of the firm that he will establish in Dubai will be sole proprietorship. However, the summary and ownership of the firm is explained below.

Summary and ownership

The security consultancy firm will be established as a sole proprietorship business, which will focus on both providing security service and providing security consultancy. In the light of this context, the business will also mandatorily focus on earning huge revenue and reducing the cost of producing services. 

Legal process of the firm

In case of forming a business, its legal structure should comply with the regulation of the country and the corporate law. In this case, I have decided to start security consultancy firm, the legal process that he must follow is explained below.

Registration and IPR

I must register his firm complying with Intellectual Property Rights to resist counterfeit services. The registration as a sole proprietorship firm will only be considered valid, if the individual will own 100% of the business and he must keep 100% of the profit out of that business. I must practice the business on his own and first register them in a local government authority away from free zone. In order to register the firm as a sole proprietorship, I must submit the following documents

  • Approved licensing application
  • Registration application
  • Approval from the government authorities, based on the nature and the activities of the firm
  • Initial approval certificate

Financial projection or financial planning of the proposed firm

Income statement of security consultancy firm

Particulars
AED’ 000
AED’ 000
Revenue from   consultancy service
Total revenue
Expenses
Rent
Salaries
Utilities expenses
Depreciation on equipments
Supplies expenses
Total expenses
Net income before   Taxes
Income tax (20%)
Profit after tax



20
35
10
05
15
300
300






(85)
215
(53.75)
161.25

Financial position statement of security consultancy firm

Particulars
AED’ 000
AED’ 000
Assets
Current assets
Cash and cash   equivalent
Inventories
Total current assets
Fixed assets
Leasehold property
Accumulated   depreciation
Other assets
Patent rights
Trade marks
Total fixed assets
Total assets (A)

Liabilities
Current liabilities
Short term loan
Total current liabilities
Long term liabilities
Long term loan
Total long term liabilities
Total liabilities (B)
Net assets (A-B)
Owner's Equity
Capital brought in   business
Net profit
Total owner’s equity

150
350

150
10

15
15






100

200



500
161.25



500







190
690





100

200
300
390

651.25

Cash flow statement of security consultancy firm

Particulars
AED’ 000
AED’ 000
Cash flows from operating activities
Net income
Depreciation
Increase in trade   receivables
Cash generated from operating activities
Cash flows from investing activities
Purchase of property
Acquisition of   leasehold property
Proceeds from sale of   outdated equipments
Net cash used in investing activities
Cash flows from financing activities
Proceeds from long   term debts
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of period
Cash and cash equivalents at end of period

161.25
10
(65.5)

67.25
23.35
(12.75)

100




105.75




(77.85)

100
127.90
150
377.90

Conclusion

Aforementioned discussion helps in concluding the findings of the study that would ensure success of the start-up business in Dubai. It can be concluded that the security consultancy firm needs to take effectual measures in terms of operational management and security operations to accomplish its mission and vision. Subsequently, the market analysis showed that there are optimal chances to flourish the business ensuring quality consultancy services. Application of competitive analysis using Porter's five forces and SWOT helped in developing proper marketing strategy required for the business. Inclusion of social media sheds bright light on the effective promotional techniques to ensure success. The study has also made efforts in estimating the cash flow, financial position and income statement as instrument to make the framework for appropriate projection.       

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