With sharing platforms in our day-to-day lives, I think the 'partner' model will be on the rise in doing business. Afterall the true essence of business is founded on the element of 'partnership' -- that is, trust. A partner shares in the risks and profits.
One of the top area sales directors of a leading real estate company in the Philippines call us, his appointed brokers, as 'partners'. It is sweet to the ears and it suggests more freedom to do business with shared inputs and outputs. He does not have to hire us with fixed salaries monthly but he trains, motivates and offers good commissions and incentives. The word 'partner' makes us feel standing on equal footing with him, shoulder-to-shoulder, more as teammates / collaborators, committed to produce results.
How one with an enterprising spirit will have freedom to do business with less risk exposure but with more opportunities to generate revenues?
I noticed in LinkedIn job vacancies announcements about some position titles with the word 'partner'. One is HR Business Partner.
In this kind of arrangement, there is no employer-employee relationship, but it is more like of client-contractor relationship. In this case, the client does not provide for visa of the partner but can offer monthly fees to cover the latter's overhead and profit.
Workable job description for the HR business partner says that ultimately he should be able to act as a consultant on human resources management and organizational changes.
So a business partner is a business consultant. To be so, one must provide a seasoned advice to the management and other stakeholders in a very professional way, as required.
To be a consultant in the United Arab Emirates (UAE), one must be covered by a professional license with related professional consulting activities. To be approved for that, the authorities require the consultant to present related educational certification to qualify for consultancy services. If approved, the business is 100% owned by the consultant and the local person or sponsor serves as an agent.
There will be no difference in ownership % (100%) as the country embraces a new policy on residency visas in the last quarter of 2018. The only change will be the length of residency period -- from three (3) years it will be ten (10) years which is better so that the businessmen can survive and thrive, and share their homegrown success stories in the future.
In 2010 my American friend advised me to pursue a career in consulting because even after retirement age of 60 I will still be of use. In the UAE, foreigners can set up a consultancy company to live legally after retirement age.
I hope that the government will consider more steps to make things easier for investors including consultants, like substantialc costs reduction in setting up and renewal of consultancy business> This way many people will be interested to be on investor visa as consultants and many businesses will reduce their costs by strategically transacting with business partners, then both achieve business growth.
Passionately monitoring trends on 'business partner' and 'consulting' will help give us some ideas on how to prepare for a productive retirement.
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Photo credits: Pixabay
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