Business consultancy is a $250 billion worldwide industry which is projected to grow even more in the coming years. Whether the focus is strategy, employees’ management, HR, IT or finance, consultants have become an integral part of today’s corporations. To truly realize the fullest potential of business consultants and advisors, they need to be deployed in the right way for the right reason. For that, a deep understanding of businesses, their challenges, bottle-necks and the subsequent course of action is crucial. But the global fast-paced technology seems to have overshadowed that value.
One firm that caught our attention in this respect is Limitless Business Avenue (“LBA”). Based in Dubai, United Arab Emirates (“UAE”), the firm focuses on providing International Trade, Customs, and Value Added Tax (“VAT”) advisory services.
The UAE accommodates over 8,000 consultancy firms and to stand out, LBA deploys its brazen focus firstly on its employees and secondly on clients’ real pain and challenges.Tareq Al Wattar, Partner and Co-Founder of LBA, boldly says, “What makes us different from other consultants is that we truly look after our family (employees) and provide them the at most level of education and support. We have close relationship with them and their families and this has boosted our atmosphere in the office tremendously. When it comes to our clients, we simply deploy our extensive, practical expertise to analyze and comprehend any case at hand prior to initiating formalities and agreements which usually frustrate clients.”
A strategy involving long conversations may seem unusual in a fast-paced business world, while on the contrary, that gives the opportunity for both parties to have a deep understanding of issues at hand and enables building strong partnerships. That is the reason why LBA is devoted to this aspect of their business. On this point, Tariq reveals, “We some time spend a good couple of hours with our clients discussing their operational challenges, opportunities, future plans, and personal investments and that enables us to add tangible value added.”
A strong partnership based on a deep understanding of every aspect of a business coupled with impeccable knowledge and deliverables have proven to be the reason why clients chose to associate with LBA.
LBA is always up to speed with any relevant business regulations in the UAE and has obtained the status of an Approved Tax Agency from the UAE Federal Tax Authority early in 2018. Not to mention their unconventional brand that they introduced challenging the status quo of the formal business advisory environment.
Started by Experts in the Field
The foundation of LBA came very organically. Having work experience with the Big 4 firms, the founders were well aware of the business consultancy industry,its challenges and areas that need to be improved. Through referrals for their excellent work in International Trade, VAT and Taxation, Feasibility Studies and Free Zones formation and related customs compliance, LBA quickly realized that their services were in demand and decided to run their services independently. Tariq recalls the moments, “In the beginning of 2017, we took a leap of faith to take our efforts independently and we got licensed formally on 11th September 2017.”
Fast forward, LBA’s services have been well received in the domestic market as well as with multinational corporations intending to expand their operations in the Middle East region and in particular, in the UAE. In 2018, the frim managed to secure a 93% client satisfaction rate which puts it ahead of competition.
Gearing up to Integrate the Most Disruptive Technologies
A strong indicator of success is the ability to envision the future. Sensitivity to the market opportunities as well as being prepared for the future change in the market is a prerequisite for a successful business, especially in today’s rapid pace. The founders of LBA are actively looking for future opportunities and new ways of doing businesses. LBA is looking at investing in disruptive technologies namely Blockchain and Artificial Intelligence (“AI”) that are being extensively implemented in many industries, although quite new to consulting. Integration of these powerful technologies could be a game-changing phenomenon for the industry.
This initiative is perfectly in line with the firm’s vision of reaching to decentralized organization that depend on knowledge sharing, respect and contribution from all levels of employees.
AI and Blockchain are seeping into every area of life. LBA recognizes that and is taking a lead to actively invest time and resources to unlock the potential of these technologies in the consulting domain. With increasing prototypes and increasing evidence of successful applications, these sophisticated technologies have proven their case for the future, as Tariq rightfully points out, “Not an easy topic but we do believe to the core that the future lies here (AI and Blockchain).”