Asif Rangoonwala – Inside the Mind of a Global Entrepreneur
Mr. Asif Rangoonwala, joined by a number of other globally focused speakers, spoke at a fantastic event last week on Friday the 17th of June at 200 St Vincent Street.
Asif is no stranger to the world of international business and entrepreneurship. As a result of his somewhat non-traditional educational background, Asif said he learned most of what he knew about business from his father. He started his professional career at his father’s company in Pakistan but quickly realized he would only be satisfied by forging his own path in business, an epiphany that launched an entrepreneurial juggernaut. Leaving the safety and stability of an established and successful company, Asif decided to start his own business producing hotdog and hamburger buns, creating the company Eurobuns. Starting with a comparatively small loan of £2.4 million, Eurobuns now has a turnover of £40 million. After the success of his first venture Asif went on to the world of real estate, where he bought, renovated, and sold student housing. Not one to rest on his laurels, Asif is now focused on his newest idea, P1 powerboat racing, which he hopes will provide a standardized platform for watercraft racing.
Over the course of the event, the rise and growth of industry in both Pakistan and India was a recurring topic for discussion. Central to this was the idea that both of these countries are on the verge of an economic explosion, with workforce numbers and performance showing a consistent trend of rapid improvement, which shows massive potential for continued development and investment both domestically and internationally. While Western business is expanding into Pakistan and India, the speakers said that now was the time to double down on the region, as these countries will almost certainly maintain this trend of rapid progress in the years and decades to come. Another speaker, Dean Nelson of Harsil Associates, also spoke about the biggest roadblock in the way of the further growth of these areas, corruption. He stated that while Pakistan and India develop, it is absolutely essential to stop this issue in its tracks and ensure there is nothing to hold these nations back in the future.
At the event’s conclusion, speakers from both Pakistan and Scotland spoke briefly about the future of Western business in the Indian sub-continent. The consensus was that the area is a huge untapped resource by Western business, and will no doubt become an even more influential player in the world of international business in the near future. The current obstacles facing the region are not insignificant ones, but with careful and educated growth strategies can be overcame, allowing for a very productive and profitable future for both Asia and the West as a whole.