Asian wealth magazine summer 2013 edition by Media 36

THE LUXURY BUSINESS MAGAZINE FOR ASIAN ENTREPRENEURS

Vol. 2

Issue 2

Summer 2013

farida gibbs WOMAN OF ACHIEVEMENT

KAVITA OBEROI A CLINICAL SUCCESS

WOMEN EMPOWERED ENABLING CHANGE

Special Summer 2013

Ladies Edition

Also in this issue

My business: Vanita Parti

10 of the Best – Franchises ● Competitor intelligence ● Job? Business? Both? ● Learn from your mistakes ●

REVIEW: The Asian Awards £4.99

AW_CoverSummer2013.indd 1

12/07/2013 16:43

AW_CoverSummer2013.indd 2

12/07/2013 16:43

1-43_AsianWealthSummer13.indd 1

15/07/2013 12:55

1-43_AsianWealthSummer13.indd 2

15/07/2013 12:55

Editor’sLetter

FRONT COVER FEMALES I hAVE NEVER PRETENDED TO BE AN EXPERT ON ASIAN CulTuRE, SuCCESS OR STRuGGlE. But I do know a fair bit about being a woman. Especially about being a woman in a man’s world. The newsrooms you see depicted on television and in films, that feature rogue male journalists and editors are obviously embellished for dramatic effect. however, the attitude toward stories featuring women, be they ‘heavy lifting’ stories about attacks on women or light-hearted showbiz stories about what Jennifer lopez dared to wear that week, do have a few kernels of uncomfortable truth about the way in which women are portrayed in the media. Media observers often point to the misogynistic way in which women are referred to by some newsstand titles which shall remain nameless here. And this battle to redress the balance in portrayal of the sexes, although it has begun, has still got a long way to go. As a journalist I’ve worked on many different titles for both male and female bosses, and some of the industries I’ve covered are dominated by one gender or the other. I’ve worked in property, marketing, transport and logistics, and healthcare. Indeed at one oil and gas conference I attended, I was mistakenly taken for the waitress as I was the only woman in the room. That’ll teach me to wear a completely black outfit again!

Attending the Asian Women of Achievement awards this year blew me away. We often hear about the lack of female role models for young girls, especially in the fields of science, technology, engineering and business. Well, looking around that room I would love any young girl to have been present, as I was fortunate enough to be, and see for them self that no matter what start you have in life, you can succeed. Inspirational figures are there for young women, but seeking them out requires a proactive frame of mind, if these types of women were more readily celebrated in the mainstream media, reality TV stars would not be the role model de jour for young British women. The event also showed me that companies are making strides in not only gender equality at the top of the corporate ladder, but a real commitment to diversity also. As the years go on, this message can only get stronger as more female Asian role models are brought to the fore. The event, the brainchild of Pinky lilani, has been doing this for the last 14 years, and long may it continue. In this issue of AWM we are holding up some of the very best examples of Asian businesswomen, and believe me, we had a lot to choose from! Judging by those nominated for an AWA award, we could have made this issue 100 times the length and still wouldn’t have fitted in everyone that deserves to have their story told. The image of a feminist has moved on a lot from the angry bra-burning women of the 1970s. In 2013, the test that every woman (or man) should take to understand whether they are a feminist or not is simple: Raise your hand if you believe that men and women are equal. Is your hand in the air? If so, you are a feminist. It doesn’t get much simpler than that.

Editor of Asian Wealth Magazine

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 3

15/07/2013 12:55

10745 P 911 50NatAdDPS 297x420AsianWMagHR.pdf

10/06/2013

11:06

50 years of Porsche 911. Our legacy has already been written. But our future is open to you.

Visit www.porsche.co.uk or call 08457 911 911.

1-43_AsianWealthSummer13.indd 4

15/07/2013 12:55

1-43_AsianWealthSummer13.indd 5

15/07/2013 12:55

CONTENTS

10 10 A passion for empowerment The founders behind Women Empowered talk friendship, feminism and self-fulfilment. 15 Publisher’s diary 16 Woman of achievement Farida Gibbs has grappled with redundancy, the financial crisis, divorce, and single motherhood. Despite all this, the CEO of IT staffing business Gibbs S3 is riding high. 23 Ten marketing resolutions you should make TODAY Many entrepreneurs struggle to make their marketing resolutions a reality, but it isn’t too late to still fulfil your marketing goals for this year.

1-43_AsianWealthSummer13.indd 6

30 Turn setbacks into success Wrong turns in business are every bit as common as great successes. But it’s how you bounce back from these errors of judgement that can really set the tone for the future of your company.

38 Business NEWS News and business developments from around the globe.

32 How long is a piece of string? Vanita Parti, the founder of Blink Brow Bars, has made the Indian ritual of eyebrow threading a global sensation.

43 The Bookkeeper As many businesses strive to grow in ever demanding economic markets, it is worth emphasising one of the most important attributes of a successful business: cashflow.

36 Going solo You’ve got a great idea for a viable business, but how do you know when it’s the right time to quit the day job and give self-employment a go?

44 The women who mean business Meet eight of the women whose sacrifice and hard work have led them to blaze new trails for hundreds of British Asian women.

40 Fortune Footsteps The Chocolatier tells us about his business’ journey in peak Easter trading.

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:55

VOL2 ISSUE 2

44 49 Wonder Women! Getting the balance right between work and family life. 51 Jumping the hurdles in immigration employment law Finding the right staff is never a simple task, and even harder when they originate from outside the country in which the employer is situated. 54 The secret millionaire Kavita Oberoi, founder of Oberoi Consulting, shares her journey of breaking with tradition to become one of the most successful entrepreneurs in the country. 59 The inexorable need for entrepreneurship Dr Sanjeev Ahuja, the president of TiE UK, in the first of his

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 7

regular AWM columns, tackles some of big questions on entrepreneurship as a means for social change in 2013.

stand its competitorsâ&#x20AC;&#x2122; business models as well as its own. Explore how your business can benefit through competitor analysis.

60 Ten of the best franchises in the UK If youâ&#x20AC;&#x2122;re looking to break out from regular employment, but the risks of going it alone with your own business feel too great, then franchising could be the way forward.

68 Private island paradise Luxury travel aficionado Varun Sharma takes us to the Caribbean paradise of Antigua, and more specifically, the private island of Jumby Bay.

62 Putting the trust back into giving Over the five years it has been in operation, the British Asian Trust has helped more than one million people that need it most in South Asia. 65 The art of war Any successful business will under

74 The Wraith unveiled Take a close look at the Wraith, the recently launched and most powerful Rolls-Royce in history. 80 Events reviews 99 Upcoming events

15/07/2013 12:55

We expect more from digital music.

Meridianâ&#x20AC;&#x2122;s award-winning resolution enhancement technologies now in a smart, portable form. Appreciate the purest sound from any computer for headphone or HiFi listening.

1-43_AsianWealthSummer13.indd 8

meridian-audio.com

15/07/2013 12:55

Contacts THE LUXURY BUSINESS MAGAZINE FOR ASIAN ENTREPRENEURS

Vol. 2

Issue 2

Summer 2013

farida gibbs WOMAN OF ACHIEVEMENT

KAVITA OBEROI A CLINICAL SUCCESS

WOMEN EMPOWERED ENABLING CHANGE

Special Summer 2013

Ladies Edition

Also in this issue

My business: Vanita Parti

● ● ● ●

10 of the Best – Franchises Competitor intelligence Job? Business? Both? Learn from your mistakes

REVIEW: The Asian Awards £4.99

Cover Farida Gibbs Photography Eyejogia.com

Asian Wealth Magazine is the UK’s first and only luxury business magazine for asian entrepreneurs, business leaders and professionals. published quarterly and distributed nationally, AWM caters for a generation filled with high-flying, motivated and inspirational professionals who pride themselves in being creative and able to enjoy life and it’s pleasures in and out of the office. Each issue comprises of profile interviews, Q&as with British asian entrepreneurs from up and comers to high-net-worth successful business individuals. Each issue is also packed with thought provoking business related articles, current affairs and dedicated sections for luxury travel, automotive, event previews and reviews. Enjoy.

PUBLISHER Kalpesh Patel Kp@media-36.com T: +44 (0)20 8406 8992 EDITOR Jo Payne jo@media-36.com Design & Art Direction Christine Sullivan Digital Marketing Manager Nemash Patel Editorial Contributors Keeley Bolger Joe Minihane Melissa Stewart Shaz Memon Aneesh Popat Nima Suchak Pinnacle Advisory Services The Sethi Partnership Farida Gibbs Varun Sharma TiE UK Advertising Abby Ghafoor ag@media-36.com T: +44 (0)7748 983 331 Ash Krishnan ak@media-36.com T: +44 (0)7852 415 625 www.AsianWealthMag.co.uk

AWM – Official Publication for: Is Published By

© MEDIA36 Ltd Asian Wealth Magazine is published by Media36 Ltd, PO Box 3296, South Croydon, CR2 1GT, United Kingdom ISSN 2051-9230 All Rights Reserved No copy without the written consent of the publishers first given, can be lent, resold, hired out or otherwise disposed of in a mutilated condtion or in any unauthorised cover, by way of trade, or affixed to or as any part of a publication or advertising, literary or pictorial matter whatsoever. Media36 publications are fully protected by copyright and nothing may be printed wholly or in part without permission. Every possible effort has been made to ensure the information contained in this publication is accurate at the time of going to press and neither the publishers nor any of the authors, editors, contributors or advertisers can accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editors, authors, the publisher or any of the contributors or sponsors.

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 9

AWM is a media partner for:

15/07/2013 12:55

1-43_AsianWealthSummer13.indd 10

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:55

a passion for

empowerment

The founders behind Women Empowered talk friendship, feminism and self-fulfilment with Jo Payne. Photographs by Eyejogia.com

hEN REENA RANGER hAD AN IDEA FOR A WOMEN’S NETWORK ThAT WOulD CONNECT AND INSPIRE PEOPlE, the first person she told was her friend and neighbour Mona Remtulla. “I am sure there is a need for this, don’t you?” Reena asked, “Could this actually work?” Two years and many success stories later, the answer to that question is invariably a big fat yes, it could work and it has. Women Empowered is a social initiative that gives women the skills, the network and the confidence to achieve their own personal goals. It aims to provide a forum for those attending to find support, mentoring and inspiration on their journey to personal fulfilment. The pair are very clear that the aim of Women Empowered is not to encourage every woman to be an astronaut, lawyer or entrepreneur, it is about inspiring personal success, whether that be in business, motherhood, or any personal goal. The events are very accessible, there isn’t a membership list or criteria the attendees have to meet – you don’t even have to be a woman! The founders were very aware that men are very much part of the discussion and so every event has a male keynote speaker. So far, Reena and Mona have organised several events, the first of which was called Ordinary Women Can Do Extraordinary Things. “Although we are already extraordinary, so I think maybe it should have been called extraordinary women can do even more extra, extra, extraordinary things!” laughs Reena. At that event, the speakers included the Government Spokesperson for Higher Education Women and Equalities Baroness Verma, the television news presenter Tasmin lucia-Khan, and the businesswoman behind Nosh Detox, Geeta Sidhu-Robb. Geeta had once been a high-flying lawyer married to an equally successful husband – she had it all, the house in Chelsea, the fleet of luxury cars and a private jet. When the company she had formed with her husband collapsed, her life of luxury was gone in a day. She was forced to live on a friend’s sofa for six months. From this, she managed to balance setting up her business and raising her three children. Geeta’s story is a perfect example of the type of path that Women Empowered wishes to highlight. “When we choose a speaker, they often have a journey. It’s that journey that’s inspirational – the difficult times, how they overcame the obstacles, all that feeds into their success,” explains Mona. A recent event focused on politics and traditionally male-dominated professions. At the event, Priti Patel, the MP for Witham, enthused about the importance of women being a visible part of public life, and it being vital to ensure that community leaders and

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 11

15/07/2013 12:55

champions ensure that the next generation of women can see politics as an avenue for them. And it isn’t just about inspiration and no follow-through. Each event has enablers, people or companies who can act as mentors after the events. At the political event, for example, the Women’s Network from both the Conservative and labour parties attended. “We’re not saying that everyone has to be an entrepreneur. We’re not saying everyone should want to be a politician or strive to be in the media. Those speakers are meant to inspire you and ignite something within you. So, instead of listening to this, going home and six months later nothing has happened, we have enabling partners that can give practical advice too,” explains Reena, who has been inspired to run for a place on the local council herself.

1-43_AsianWealthSummer13.indd 12

This fact should not surprise anybody that has met Reena. her passion for Women Empowered is palpable, as are her energy and ideas. After having her second child and becoming consumed by motherhood, she felt lost. “I wanted to be Martha Stewart, but without the insider trading,” she jokes. “I forgot who I was and, as much as I love being a mum, I missed doing something with my brain and I didn’t know how to go back into it. I’d go to the baby groups and all the women would be asking the same thing: What do we do now?” And so, the idea of pairing women that needed inspiration with motivational figures was born. In her pre-motherhood role, working full time with her father, she would attend many lectures and be blown away by the inspirational stories she heard. If only her peers could have access to these types of inspirational

stories, Reena was sure it could make a difference. “Sometimes, as women, you’re trying to have your career, be a wife, a mother, a daughter, a sister, but you can sometimes forget that you’re you as well. That’s what Women Empowered is, to find that thing that makes you, you. Maybe it’s something that you’ve forgotten or you’ve always wanted to do. It’s to get that spark back,” she explains. That spark is evident when talking to Mona and Reena. They describe themselves as Yin and Yang, indeed if Reena is fire, Mona is most certainly water. Methodically spoken and efficient with her words, Mona is a calming influence on the lively Reena. “We had some negativity when we first started out” she explains. “Some people didn’t understand what we were trying to achieve. There were existing professional

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:55

networks and some people couldn’t see that there was a pool of women who arguably needed a network more with absolutely no access to one, or only had a network in a particular field and were finding it difficult to branch out into something new and needed inspiration and guidance. “We knew there was a need. We put our reservations aside and thought we’d do one or two events and if it doesn’t work, we’ll stop. What’s the worst that can happen? And it worked.” Despite their disparate personalities, it is a similar philosophy and outlook on life that binds these two self-styled “partners in crime”. Mona was born in Tanzania to entrepreneurial parents who imported fabric to sell in their chain of stores. her hard-working parents had a big impact on Mona. “As a child during the school holiday,

I was always taken to the stores so I always saw how hard my parents worked and that work ethic was instilled in me from an early age.” Mona and her husband moved to london 14 years ago with their daughter Ridhaa, and started their own digital marketing company. Entrepreneurial spirit is also strong within Reena. Born and brought up in the uK, she also witnessed her family building up a business in her formative years. Twenty years ago her father started a freight forwarding business, and after a decade diversified into supplying goods and products. Reena started working full-time for Sun Mark on leaving university, and still works there today. She is understandably proud of her father’s journey, from being the eighth and posthumous child of Sardar Nanak Singh (a political leader that protested against the partition of India, and was killed

“There is no ideal woman.

In an idealistic way, you should just be

the perfect YOU

– whatever that is”

saving the lives of protesting students in 1947), to growing his business to win the Queen’s Award for Enterprise four times in a row, the only company to have done so. Neither woman would describe themselves as a feminist in the traditional sense. “The word feminist conjures up the image of bra burning, forceful, misandric people, and we never want to be that,” explains Mona. “A woman might want to bake all day long, and who are we to say that that’s just not right. I think the most helpful thing we can do is encourage women to be the best at whatever they choose to do, rather than try to impose a set of values.” “That’s true feminism,” explains Reena. “You should be able to do what you want to do. There is no ideal woman. In a really idealistic way, you should just be the perfect YOu – whatever that is.” When Women Empowered started, the aim was to create seven events, if they could help seven people become inspired to make a change, “to mix things up”, then that would be good enough, Mona explains. “Now, the way things are going, we’re hoping we’ll do bigger events and then do smaller bespoke events to cater for those people who want to take that one step forward,” says Mona. This social initiative, which started out as a conversation between friends, has gathered some high profile support very quickly. Its many champions include Kanya King MBE, the founder of MOBO, Ruby McGregorSmith CBE, the CEO of MITIE Group, and Alpesh Patel, author and founder of Praefinium Partners. When Reena and Mona are asked about their plans for the future, they look at each other and cackle. “World domination, empowered women and men everywhere!” they say. Joking aside, Reena quotes a Buddhist saying to explain what Women Empowered aims to do: “Thousands of candles can be lit from a single candle, (and the life of the candle will not be shortened)”. The mix of the spiritual and the practical, as with the personalities of the organisation’s founders, may be a heady recipe for success. www.womenempowered.co.uk

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 13

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 14

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 15

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 16

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

oman achievement OF

Farida Gibbs has grappled with redundancy, the financial crisis, divorce, single motherhood and family illness. Despite all this, the CEO of IT staffnng and rooect solutions business Gibbs S3 is riding high, as Keeley Bolnger finds out. Photographs by Eyejogia.com

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 17

15/07/2013 12:56

“i had to grow up

very quickly, be responsible, think

on my feet”

00 00 1-43_AsianWealthSummer13.indd 18

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

WhEN IT COMES TO BuSINESSWOMEN, you’d be hard pressed to find any more diligent than AWM’s very own Wonder Women columnist Farida Gibbs. Farida was presented with the Entrepreneur Award at the RBS Asian Women of Achievement Awards 2012, in which she was described by the judges as “a fantastic example of strength and sheer determination to fulfil her ambitions after being made redundant, regardless of barriers”. From her teens, Farida, today the CEO of IT staffing and project solutions consultancy Gibbs S3, would help her dad run his Surrey news agencies at 4am. She’d then trot off to school, before returning home for an evening shift at the shop. “There weren’t many people in my class up at 4am grafting,” says Farida. “I learned a lot about business and that really interested me.” Eldest of four Farida, whose father, Atta, is from Pakistan, took on more responsibility when her parents divorced and she resided with her Egyptian mother, Salwa. “I went to college but at the same time I was working at [the supermarket] Safeway until 9pm every night and over the weekends to help my mother,” she recalls. Studying and maintaining a job would be plenty enough to occupy most people, but Farida balanced pseudo-parental duties on top of that. “I played a key role in the upbringing of my family,” says Farida. “I helped bring in money to help my mother raise my two sisters and brother while I studied full time.” life was tough but Farida, who studied Business Studies and hR at university, came to see that her maturity set her apart from her peers. “I got a job at Sitel, a company that provided call centre services, at 16 and that’s when I really started enjoying life,” says Farida. “When I look back at my childhood I wasn’t your average 10-year-old playing with toys and games; I was looking after my brother and sisters so that made me very responsible. At 17 I could manage really important projects for Sitel because I was older than my years. I think a lot of that plays into whom I am today. I had to grow up very quickly, be responsible, think on my feet and make decisions on behalf of my mum.” Farida started a flourishing career in the recruitment industry in 2001. however, that was all turned on its head when one fateful day in 2005 her employer gave her one day’s notice of redundancy, paid her £2,000 and sent her on her way. “I saw the redundancy from my recruitment role as a positive because I always wanted to have my own business. “I approached a handful of my existing customers and told them I didn’t want to stop working with them, and asked them to still consider me. They were thrilled and gave me their backing. These were major city organisations but because I

1-43_AsianWealthSummer13.indd 19

understood their culture so well, they confided in me that it was me, and not my old company, that had impressed them,” she says. Farida launched her company in 2005 with an ethos of giving great service and seeking out new opportunities. For the first few months Farida’s new working life was formed of a tough schedule to make precious time with her daughter, but also for her growing enterprise. When her daughter was in bed, Farida would work long into the night, but after six months realised that she was “actually really good” at balancing business and motherhood. Fresh with the confidence she had built in the previous six months, Farida had new momentum in her entrepreneurial vision, something she shared with her sister. “I asked her to join me. I needed someone I could absolutely trust,” she recalls. Soon after, Farida’s sister Ameera left her high-profile job and the two sisters started to run the company together. “I don’t know where I would be without her, she is my left arm and the person I go to when I need to reflect.” however, it wasn’t long before the credit crunch soon pulled the economic rug from under Farida, and the business lost a major client, lehman Brothers. When the bank collapsed overnight Farida had to do some consolidation of her own and let staff go, something she describes as the “hardest thing” she had had to do. “I could have just walked away – the economy was dire and I could have found something else, but I felt a very strong need to carry on,” she explains. “I wasn’t going to give up, but had to make some redundancies, leaving just three of us in the business again. Fortunately, our customers remained loyal to us and we could work with them to build the business back up again,” she says. In 2008, a chance encounter with Cindy Pasky, CEO of US firm Strategic Staffing Solutions (S3), put Farida onto a new path. “A great relationship with Cindy developed and a strong commonality in culture between us and the way we do business was pretty evident from the outset,” she describes. “We saw a gap in the market and took the opportunity to set up a strategic partnership. Maximising both our strengths, our collaboration allowed us to support our major customers globally, giving them the opportunity to select us as a supplier across the uK, uS and Europe to support their IT and business

15/07/2013 12:56

Conquest Classic

1-43_AsianWealthSummer13.indd 20

www.longines.com

Aishwarya Rai

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

www.longines.com

service needs.” In 2009, a deal was struck between both parties in which Farida took full responsibility and accountability for the uK and Europe as CEO of Gibbs S3. “It wasn’t about the money,” recalls Farida, looking back on the deal. “I love what I do and I knew we could make a difference. I wanted to be my own boss; I wanted to be able to be there for my daughter. If I want to finish work at 2.30pm to pick my daughter up from school, I didn’t want to ask anyone’s permission. Nowadays, me and Cindy have a very strong partnership and work really well together. “We look at each other as one operation,” she explains. “We are now able to service companies globally. So, we are dealing with financial services companies in the UK and we are also able to support them all over the US.” In the last three years, Farida’s share of the uK arm alone has seen annual turnover increase from £1.3 million to around £18.6 million. Gibbs S3 and S3 are delivering an annual turnover of $220 million in the global group – Farida delivered $30 million in Gibbs S3’s first three years. This incredible growth has won Farida some major industry awards, including the Fast Growth Business Awards. Key to her success has been a project solutions approach, she explains, rather than simply fulfilling staffing requirements under a contingent labour programme, the company offers managed services and fixed-price work packages of technology resources and business change, project and programme management, as well as solution architects. “We work closely with our customers, look at resourcing challenges and issues, and create solutions and work packages to deliver upon their needs,” says Farida. “Clients are buying into the idea of project solutions and fixed-price projects, so that they know where they stand from one project to another. The Programme Solutions team are incredible! They will make sure we deliver in the period we say we will. We are cost-effective, flexible, adaptable and passionate about helping our customers. We never say no and we always find a way.” While business was on the up, and bidding for a major new

Farida credits her family for her happiness and her drive to succeed.

customer, Barclays, Farida’s family life took an unexpected turn for the worst when her father, her “role model”, fell ill in Pakistan. “My sister and I flew out to be by his side and at the same time I knew I couldn’t let the bid go. Some people thought it was selfish and that I was putting work before my father, but I wasn’t. I was there giving him the best level of care. I took all my savings, my sisters and brother and my husband also put in some of their savings and we made sure Dad had the best care possible in the best hospital.

“t

“I won that

business because i

didn’t ngive u A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 21

”

hERE WASN’T MuCh I COulD do but sit by his side while he was in intensive care so I sat there with my laptop working on the online bidding process to win the business. I remember clearly I was sat in a hospital in Pakistan, my sister, brother and husband were also online bidding for this new customer in the uK, and my partners in the uS also took part. It was a big deal. I knew the bid could secure the future for my daughter, husband, brother and sisters,” she explains. Luckily, her father recovered and is now back on his feet. Farida spent three weeks in Pakistan nursing her father back to reasonable health. Farida also won the Barclay’s bid. “I won that business because I didn’t give up. I truly think God could see how passionate I was about my intentions for my father. It was for the best because when you’re a good person and you mean well, what goes around really does come around,” she states. likewise, Farida is philosophical about her past and grateful for the opportunities it presented her. “I look at my life and I think, ok I didn’t have much of a childhood. I didn’t have pocket money or toys and I didn’t do what normal girls do. I begrudged it when I was younger, but now I do not regret my past or upbringing, it has made me who I am today. I feel like I’m being rewarded, and recognised because of that graft.” And recognition is certainly coming Farida’s way, including recognition at the Enterprising Women of the Year 2012 awards, winning the Fast Growth Business Awards

15/07/2013 12:56

Re-think what a school is

and GrowingBusiness.co.uk’s Family Business of the Year Award, additionally being recognised by GrowthBusiness as one of its Top 50 rising stars in 2011, recently winning Business Woman of the Year at the first ever British Muslim Awards 2013, and shortlisted for Business Woman of the Year at the English Asian Awards later this year.

“i

’M hAVING A WONDERFul time with my daughter. I’m re-married now and have an incredible husband Paul and wonderful stepdaughter. I’m truly the happiest I think I can be,” she says with a grin. Farida credits her family for her happiness and her drive to succeed. “I always put my family first, it’s the right thing to do,” she says. “I love my family. They are what push me. I was once told I would never be good at business! I think if you tell me I can’t do something I’ll go and do it. And now I have succeeded and can provide for the people I love the most.” Safe to say, Farida has proved her detractors wrong. Now it is her time to become a role model for the next generation of wannabe entrepreneurs, and Asian women who perhaps lack the sureness to strive out on their own. “A lot of Asian women are burning to go into business but culturally, sometimes they can’t do it or they don’t have enough confidence to,” Farida says. “I wish I could reach out to those women and say, ‘If you truly believe you can do it then you can! What is the worst case scenario if it doesn’t work out? You just move on and get another job. Why not give it a go if you truly feel a strong desire and passion?” This inspiring businesswoman supports the Women of the Future Ambassadors programme, which connects 100 successful women with 100 sixth-form students, to mentor the next generation of business talent. Farida was recently appointed to the Advisory Board of Mosaic Network, founded by hRh The Prince of Wales in 2007, and helped it launch the Mosaic Associates Female Entrepreneurs Network. Self-belief is instrumental in Farida’s considerable success. A self-confessed “grafter”, it is her hard work and talent that has made her the entrepreneurial powerhouse she is today, and if this is the lesson taught to the children she mentors, then the next generation of creative business talent will be exceptional. www.gibbs-s3.com

1-43_AsianWealthSummer13.indd 22

Educate for life runs a small school in Rajasthan with a big vision for India. We believe that a good school can have a huge impact on a poor community, providing both children and adults with the skills and support to fulfill their dreams. Our vision is to turn this small community space into a vibrant centre of learning; a place that will inspire change in schools across India. To do this we are looking to partner with likeminded individuals. If you or your company are interested in positive social change in India and you want to develop a personal relationship with a small organisation that is devoted to achieving it, please get in touch. www.educateforlife.org.uk ed@educateforlife.org.uk 07940 257 935

Registered charity 1114271

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

Marketinng

HARNESS YO U R H 2 P OT E N T I A L We’re halfway through 2013, have you achieved half of your marketing goals for this year? No? Fear not, Shaz Memon has ten tips to bring you up to speed.

S WE RACE THROUGH

existing clients. Nurture your client base

or even flags. Your message can be

THE WORLD OF

and they will reward you in time.

anything you want it to be, but the idea

BUSINESS, many

is to draw positive interest and attention

entrepreneurs struggle

[ TA K E A C T I O N ]

to your business. WARNING: Poorly de-

to make marketing

Email flyers and newsletters, plus postal

signed and executed outdoor marketing

resolutions a reality, and not something

mailings, should be sent out regularly to

can do more harm than good. Use a good

forgotten by half-past June. As with any

keep your client base updated on new

designer to suggest the best imagery and

poorly planned resolution, failure to fulfil

services/products, incentives or achieve-

wording.

smaller goals will destroy your determi-

ments, plus personal client notes such as

nation to succeed in larger wishes.

birthdays and appointment reminders.

Resolutions are very different than a

P R O S : A highly effective, yet afford-

When making conversation with your

able marketing solution that impacts the

wish list. And as a business owner you

clients, take note of any special events

attention of street/passing traffic – plus, if

have to resolve to take action that will

taking place in their lives and make sure

banners are switched regularly, passersby

create a more successful business.

the cards are branded.

will anticipate your latest message.

Let’s look at the top ten resolutions

Social media creates an online presence

C O N S : Poorly executed temporary

that can sharpen the business aspects

that is friendly and promotes interaction

of your organisation – improving

your website should carry icons that refer-

signage can potentially do more harm

profitability, increasing exposure, and

ence your social media pages.

than good and could look tacky.

keeping your business a cut above

P R O S : Increased business

the competition.

recognition and client loyalty, more

COURT YOUR CLIENT BASE When courting the

love of your life, you want

that person to relate everything they do with you. How do you accomplish keeping your image in the forefront of their mind? Constant contact of course! In 2013, resolve to conduct a love

referrals and more business.

C O N S : Takes time, must be well executed and kept current.

EXPAND YOUR SPHERE OF INFLUENCE

Your sphere of influence is the area from which you can capture an audience. Make sure your online presence capitalises on

DRESS IT UP AND BE SEEN

If your business location

this concept with a strategy that ensures high Google rankings for main keywords associated with your town, postal code, and specialty service area. Potential cli-

affair (not literally, please!) with your

has outside space that isn’t being utilised

ents looking for a business are 85% more

client base. Create a familiarity that

for marketing, take advantage of this op-

likely to contact a company found in local

keeps your name, your logo, and your

portunity to impact passersby with your

searches, and you want to be one of the

company in the forefront of your clients’

branding. Not all businesses have the ben-

first businesses they see listed.

minds; an intimate piece of knowledge.

efit of this ‘real estate’, so if your company

Your business name should be their auto-

does, capitalise on its marketing potential.

[ TA K E A C T I O N ] Ask your website designer for information

matic response when your industry

[ TA K E A C T I O N ]

on your Google rankings and if they

Design fantastic temporary banners that

are working. If it has been a while since

principle is that 80% of your new

invite clients to take action – with you!

you have contacted your website

business will come from 20% of your

Why not use A-boards, window displays

designer or marketing company,

is mentioned. Famous philosopher Pareto’s 80/20

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 23

15/07/2013 12:56

“REVIEW YOUR EXISTING TESTIMONIALS AND SELECT THOSE THAT REFLECT THE SERVICES YOU WISH TO PROMOTE” contact any experienced marketing expert to get a second opinion.

P R O S : Expand your sphere of influ-

A WEBSITE THAT WORKS

Existing websites should

copywriter to review your copy and content. Your existing text could contain serious errors or simply not state the important benefits of your brand. Text

ence exposure and expand your business.

be reviewed, ask yourself if it is meeting

that is not impactful does not achieve the

New faces will bring in potential new

your goals and is it doing what you want it

ultimate goal: getting potential clients to

clients, such as friends and family, and so

to do for your business? Do you have, and

make contact. A professional copywriter,

the pattern will continue.

understand, information about how many

can provide free advice on how your text

hits your website is getting and what

could be improved – this should be

C O N S : A poorly designed website,

level of enquiries you are receiving? Your

available to you from any reputable

or one not designed for client conversion,

website is your secret salesman – are you

design expert.

will significantly shrink your online sphere

ready to give it a raise or fire it?

From there, your creative team can deter-

of influence.

If you don’t have a website or are

mine how to help people recognise your

unhappy with your existing site think

‘superpowers’. For example, if your busi-

about what you are willing to do about

ness offers superior services, does your

it. Does your designer understand your

website copy showcase that expertise? Or

industry? Does your creative marketing

has this special aspect of your work been

team understand the goals of the site?

given the same importance as main-

buzzword for anything related to

Is your website better than those of

stream service offerings on your website?

customer service. Train your team to

your competition?

Copywriting is a small price to pay to give

SERVICE WITH A SMILE

Smile is the new

a professional image.

make smiling the greatest tool for endearing, supporting, and reassuring

[ TA K E A C T I O N ]

clients. From the moment a client walks in

Review your website and decide if it has

[ TA K E A C T I O N ]

to the second they leave, a genuine smile

the look, information and appeal you

Speak to a marketer and ask them to

is the most positive expression of your

want. Contact a design specialist and

review your content through a trusted

service – and you will be rewarded with a

ask for a free consultation and analysis

copywriter. Then, based on recommenda-

happy clientele that enthusiastically refers

of your website. If you haven’t made the

tions, update your content within your

your business to others. Fake greetings

move online, take the first step by con-

budget and comfort zone.

are obvious, and will often result in less

tacting a design agency. Look for proven

positive experiences with a client, so

results and avoid template website

make sure your staff understands the

designers – impersonal design for your

sional copywriter provides content that

importance of genuinely projecting their

brand is a big no-no.

insightfully portrays your company.

P R O S : Image is everything. A profes-

smile at all times.

P R O S : An excellent website is an

C O N S : There is a cost involved and

[ TA K E A C T I O N ]

unfailing tool for reaching your custom-

you do need to provide comments on the

Meet with your team separately, and as

ers, building trust in your business, and

drafts produced for you.

a group, to determine their professional

establishing a solid understanding of your

goals as individuals and as a team. Work

organisation’s ethos.

together to develop a proactive plan to raise all aspects of your business’ customer perception levels.

P R O S : A happy, loyal clientele, a happy team, more referrals and business.

C O N S : Make a realistic plan and approach your team carefully, old habits can be difficult to change. If you are

C O N S : Without the expert help of a designer that understands your profes-

FREE SUPPLIER LEAFLETS? SAY NO!

sion, you can blow your budget and

Just say no to supplier leaflets that

accomplish little to grow your business.

do nothing for your brand and clutter

up your business. Supplier-provided

A FEW WORDS CAN MAKE A CHANGE

leaflets have a generic appearance, say everything about the service/ product (often too much), and nothing about your business. While they can

anxious about your employees’

Is the text written for your marketing

be a must in some cases, avoid

customer service, ask friends to

material and website created in-house

making your business premises a

play mystery shopper.

by yourself? If so, allow a professional

visual clutter.

1-43_AsianWealthSummer13.indd 24

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

Marketinng

[ TA K E A C T I O N ]

commercial relationship. Your advertising

Clear the clutter. Resolve to ensure your

represents income for the newspaper.

logo, which should speak for itself, can

own sets of leaflets are streamlined,

Call a well-established marketing designer

undermine your best marketing efforts.

punchy, and well produced. Be proud of

for quotes on newspaper advert designs

your business and bring your brand image

and a package price to support you

to the forefront. Let clients make the most

throughout the year.

C O N S : Inexperienced design of a

TALK THE TALK

of your services by providing information that allows their fullest understanding,

P R O S : Tap into a huge local

Get testimonials from

while helping them to feel they are at the

audience of potential customers that

your client while their experience is fresh

best possible organisation.

will respond to regular exposure and

in their mind. New clients will often want

seasonal exclusives, while re-enforcing

to be reassured by looking at your exist-

your brand.

ing clients to make a well-informed de-

P R O S : Intense brand enforcement, conversions into clients through welldesigned, branded leaflets.

C O N S : Time consuming, if poorly

cision on whether to use you. Strong testi-

C O N S : Time necessary to establish

monial triggers will offer the same sense

a productive relationship with the

of confidence and intimacy with potential

newspaper and the cost of adverts.

clients. Written referrals are powerful

designed and produced, can do damage

DOES YOUR BRAND REPRESENT YOUR BUSINESS?

to your business’ image.

E X T R A C O N : Avoid freebie leaflets where you are asked for your logo to personalise the leaflets. Very often these

in peppering your marketing – leaflets, adverts, and websites. When you begin a new service, applicable testimonials can create a client comfort zone. Reviews express happiness with your work and trust in your business.

leaflets are stock design templates which

If you can’t answer yes to this question,

will not effectively promote your business.

then resolve to update your logo and

[ TA K E A C T I O N ]

branding. Too many businesses spend

Review your existing testimonials and

money promoting themselves without

select those that reflect the services

investing sufficient time on one of the

you wish to promote. Revise your

biggest marketing decisions they will ever

marketing copy to incorporate your

make, logo and branding. Your logo is

selections. If you need new testimonials,

newspapers for marketing bring a sour

your promise, your vision, and becomes

contact clients and kindly ask for a

look to your face? Resolve to use your

your clients’ perception of your business.

testimonial. To ensure you have a

local newspaper and become the local

A logo that misrepresents your company

continuing supply of fresh testimonials,

brand hero. A local newspaper can be a

can dilute almost every marketing activity

set up a simple form that any customer

huge source of clients. The key is to form

you undertake.

can complete to offer a testimonial.

TAP INTO THE LOCAL RAG

Does the mention of

a good relationship with your newspaper

Testimonials could be submitted online at

and commit to regular advertisements.

[ TA K E A C T I O N ]

your website and also be posted in your

The main reason why many newspaper

If you feel your branding and logo no

email flyers or newsletters. As soon as you

adverts do little for local businesses is

longer represent you, then renew and

collect a new testimonial, don’t delay and

that they are designed by the newspaper,

revitalise your brand image without

zip it over to your web designer to

or by a graphic designer who lacks the

alienating clients. If you are unsure if your

update your site immediately.

understanding of carving out a message

company’s branding is serving its purpose

for maximum impact. The design of your

it’s time to get a professional appraisal.

advert must connect with your specific

Changing for the sake of change alone is

services, bring new clients and cost you

local market. Before ruling out newspa-

not a good idea, but if a change can bring

nothing.

pers altogether, show your adverts to a

about a whole new visual perception

marketer and ask for their opinion on the

to your brand for the positive, then it is

design and message delivery.

highly advisable.

P R O S : Testimonials support new

C O N S : Time and effort to review existing testimonials, collect new testimonials and create forms for continuing

[ TA K E A C T I O N ]

P R O S : Create a long term positive

Contact your local newspaper and take

impression and put your business in the

a step towards establishing a solid

vanguard of local competition.

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 25

testimonials.

www.digimax.co.uk

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 26

15/07/2013 12:56

Publisher’s Diary Ell lADIES AND GENTS, WElCOME TO SuMMER 2013. I hope you’re enjoying the issue so far. We decided to publish this ladies edition of AWM simply to celebrate and highlight the amazing women we’re surrounded with, from the entrepreneurial to the inspirational. As a media partner of the Asian Women of Achievement Awards, I was in awe of some of the women on the stage back in May, the difficulties they’ve had to overcome are truly inspirational. My hat’s off to all the nominees, winners and also Pinky lilani for recognising these women and creating such a spectacular event. Talking about spectacular events, I stand up and salute you, Paul Sagoo, for the amazing Asian Awards. What an wonderful event. The AWM team regularly attend various events from product launches, to gala dinners, to award ceremonies. All are great in their own respect, but the Asian Awards were on another level. Well done to Paul and his team for putting together a great event and I look forward to the show again next year.

77 YEARS IN THE WAITING Very big congratulations to Andy Murray who set the Wimbledon world on fire by winning the championship recently. his win is a great testament to hard work, dedication and most importantly perseverance. We’ve all followed his journey and witnessed his devastating defeat last year to Roger Federer, so it’s great to see Murray Mania finally reaching even greater heights. IN THE ROYAL ENCLOSURE A big thank you to longines for inviting the AWM team to Royal Ascot to interview their ambassador of elegance, Aishwarya Rai Bachchan. Our editor, Jo and the team had a great day at the races and it isn’t every day you get to rub shoulders with the queen of Bollywood. Look out for the ARB interview in AWM coming this autumn, when she talks branding and business. OFFICIAL MEDIA PARTNER FOR TIE UK It gives me great pleasure to announce a partnership between AWM and TiE uK. With TiE global being one of the world’s biggest entrepreneurial networks, AWM has partnered with the network to become the official media partner for uK division, TiE uK. In each issue you’ll be able to read about the developments of the

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 27

network both nationally and internationally. If you’re a member of TiE uK then keep an eye out for offers, details and lots more. TiE uK, welcome on board. NOW AVAILABLE AT . . . If you are staying at, or using the business lounge facilities at The May Fair hotel (london), you can now pick up your latest copy of AWM thanks to a new partnership between us and the luxury hotel. PORSCHE COMPETITION WINNER A very big congratulations to Areeb Anwar from Glasgow who is the winner of the 911 Porsche Driving Experience at Goodwood Motor Circuit – well done! The inspirational quote submitted by Areeb was – “If people aren’t laughing at your dreams, your dreams aren’t big enough”. For more competitions and prizes, make sure you ‘lIKE’ and stay tuned to the AWM Facebook page.

Publisher of Asian Wealth Magazine

27 15/07/2013 12:56

1-43_AsianWealthSummer13.indd 28

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 29

15/07/2013 12:56

TURNING A SETBACK INTO Everyone makes mistakes; what matters is how you learn, adjust and move on. Joe Minihane looks at some high profile cases of business bounce-back-ability.

ISTAKES AND WRONG TuRNS IN BuSINESS are every bit as common as great successes. But it’s how you bounce back from these errors of judgement that can really set the tone for the future of your company. Speak to any business leader and they’ll regale you with tales of their failures. But more likely, they’ll also speak at length about how those very failures have made them better people and helped them create better, more dynamic businesses. For all his huge success with the Virgin empire, Richard Branson is perhaps the best example of a well-known entrepreneur who isn’t afraid to admit failings and ensure his businesses are better for them. The billionaire wrote a fascinating blog in 2008, after it was revealed during a parliamentary debate in the previous year about Virgin’s plans to takeover Northern Rock that Branson had illegally sold records meant for export to British customers in the early 1970s. having been busted by Customs and Excise, Branson avoided a criminal record, but spent a night in the cells and was handed a hefty fine. It was, he says, the biggest and best lesson he ever learned. “It nearly killed off my entrepreneurial dreams,” he wrote. “Thankfully it didn’t. But it did teach

1-43_AsianWealthSummer13.indd 30

me a hard lesson about never doing anything illegal or unethical again.” Branson went on to make a particularly erudite point, “One thing is certain in business. You and everyone around you will make mistakes. When you are pushing the boundaries, this is inevitable – and it’s important to realise this. Even when things are running well, there is always the prospect of a new reality round the corner. Suddenly, all the good decisions you made last week are doing you untold damage. What on earth did you do wrong? At Virgin, we have always been prepared to face the facts – however unpalatable they might be. Failure usually occurs when leaders avoid the reality of business. You have to trust the people around you to learn from their mistakes. Blame and recriminations are pointless.” When it comes to business bigwigs, Branson is most certainly not alone in making major errors of judgement. Music colossus Simon Cowell has made plenty down the years, from signing groups that didn’t sell records to being laughed out of conference rooms when overconfidently pitching the TV singing contest Pop Idol. Speaking with Oprah Winfrey in 2011, the entertainment mogul said that believing his own hype had led to him making mistakes. “You start living in this bubble, which is your world, and

you start to believe that that’s the only world that exists, which is why most successful people screw it up for themselves normally within two, three, five, ten years. They stop listening.” Cowell points to a wider lesson that all business people should remember: that being aware of what customers and clients want is key. Becoming lost in your own concerns and not taking time to look up and realise what is going on around you can have catastrophic consequences. Paul Sagoo, the man behind the Asian Awards and CEO of The lemon Group, says this approach, coupled with strong market awareness, is absolutely key. Speaking with AWM earlier this year, he said, “If you’re selling a product that for whatever reason isn’t working, stop selling that product. Divert whatever resources you have into something else you know. You’ve got to be prepared to not be precious and realise that some things don’t work and plunge your resources into something that does work.” Paul says that facing mistakes and business problems head on is the solution. “If you see an accident do you swerve around it and keep going or put on the brakes and move around it once it’s clear? The first thing you do is swerve around it and then keep going.” Paul Sagoo’s former employer, lord Alan Sugar, with whom he worked

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

How to...

success at Amstrad, is another high profile business personality who says that he’s made countless mistakes from which he’s been able to learn and grow. In 2011, Sugar told the Radio Times, “I’ve made loads of mistakes, trust me. It’s just that they have not been that popularised. I’ve made products that bombed.” Speaking of the word processor boom in the 1980s, at which he was the vanguard, Sugar intimated in the same interview that he had got carried away with the success of one product. “My big mistake was not recognising that the early successes were not representative of the way markets normally go,” he said.

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 31

Much like Branson’s export disaster, Cowell’s buying into his own hype and Sagoo’s advice about ditching products that aren’t selling, Sugar’s remarks come back to one core lesson: being aware of your market and the needs of your client base is absolutely essential. Everyone makes mistakes in business. But being able to look around and see how these failures can feed into future success can be a great experience too. Becoming trapped and focusing on something that isn’t working well won’t make you succeed. Stopping and thinking laterally about where your business can go after a certain approach hasn’t worked will only make you and your company better.

15/07/2013 12:56

My business VaniTa parTi Nima Suchak meets the founder of Blink Brow Bars, who made the Indian ritual of eyebrow threading a global sensation.

ASIAN WOMEN hAVE BEEN ThREADING ThEIR EYEBROWS FOR CENTuRIES, but the practice of shaping eyebrows using a humble piece of cotton thread had, until recently, remained an unknown phenomenon in mainstream beauty circles. British businesswoman Vanita Parti made the Asian treatment a high-end offering in cities around the country, and further afield. A devotee of eyebrow threading herself, Vanita discovered a gap in the market when she moved to central london. She had left her position at British Airways in 2002 after she became a mother and was overlooked for a career opportunity. “I perhaps wouldn’t have done it unless I was forced into that position,” she says. “I knew I could either stay in a job, and spend my earnings on a nanny, or I had to be brave and try and do something alone. “Working in brand management for British Airways gave me a feel for looking after a successful brand; ensuring it was ahead of time, meeting customers’ needs and aspirations. It gave me the inspiration to create something that people really needed.” The young mother spent a year putting her thoughts and business plans together and started to approach different department stores with her concept. “It was a challenge to take something that was offered in a fairly rudimentary way in the suburbs and make it into a premium, chic offering in central London,” she explains. And there were mixed reactions. “Some friends laughed it off and thought it was one of my hair-brained schemes, but I was confident, only because I got my brows threaded and the results were amazing.” she recalls. Vanita aimed the idea of a brow bar at the top end of the market. “I wasn’t interested in the middle of the road brand, so I went to premium department stores. Some didn’t get the concept. They were worried about having a treatment that was ‘exposed’, though express treatments, out in the open are all the rage now.” She didn’t give up, and continued to pursue beauty buyers of the most exclusive stores in london. Eventually Fenwick on Bond Street

1-43_AsianWealthSummer13.indd 32

Blink Brow Bars crossed over to New York, opening in Henri Bendel in 2011. Other cities such as Paris, Milan, have shown great interest in welcoming the Blink brand to their shores, as has Dubai. Although these may be on the radar for Vanita, she says she wants to focus on the eyebrow emporium that is Blink in the UK.

embraced the concept and Blink Brow Bars was born in a fairly small operation that involved just one chair and two part-time therapists. But only within three months Blink couldn’t keep up with the demand. london loved threading – really loved it – but the challenge was to find more therapists. Vanita took to trawling the streets of Wembley and Southall, finding super-threaders for Blink. “The business just took off,” says Vanita. “I had something which hit a nerve and people wanted it.” Women quickly fell in love with the quick, ‘no fuss’ service – whether they were popping out for a treatment during their lunch break, or stopped for a thread while they were out shopping. Blink Brow Bars had now spread to stores around london, and cities around the uK – consistently in Selfridges, harvey Nichols, and John lewis. Beauty writers raved about the wonders of threading, and the skilled therapists who could magically transform your look using a piece of cotton. It seemed everyone wanted to get on a Blink chair, and many celebrities, including Emma Watson, leona lewis, lily Allen, and Katrina Kaif have been threaded by a Blink therapist. Keeping ahead of the competition, which was hot on its heels, Blink expanded to offer enhancing Indian-themed treatments including facials, massage, and eye soothers, using exotic Indian ingredients, like papaya, pineapple, and sandalwood. Blink has had to keep up with trends to match the catwalks, and seasonal looks. “My ambition for Blink is to really make it an eyebrow emporium where you can get the full treatment and the products to complement it,” says Vanita. “The service is successful because it is accessible, and readily available. We’re a brand, investing for the long term. Our staff are properly trained in-house, and our customers get a consistent service when they go to our stores – proper consultation, proper service, and go away with proper eyebrows.” www.blinkbrowbar.com

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

In a rarely candid interview, chef Atul Kochhar, owner of Benares restaurant in Mayfair, and proud recipient of two Michelin stars, reveals how he went from sous chef to entrepreneur.

â&#x20AC;&#x153;i had something

which hit a nerve and people â&#x20AC;?

wanted it A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 33

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 34

15/07/2013 12:56

1-43_AsianWealthSummer13.indd 35

15/07/2013 12:56

OR MANY PEOPlE, ThE IDEA OF STARTING uP a business is a life-long dream. unfortunately the reality is that with mortgages, bills to pay and families to support, taking the leap from the security of a full-time wage to self-employment is a risk that many are unprepared to take – especially in today’s uncertain economic climate. However, recent figures from the Office of National Statistics show that the number of those who are self-employed has risen by 367,000 since 2008, with 60% of this rise coming since 2011; proving that people are taking the risk and starting their own businesses. If you’re keen to pursue your dream of self-employment, but are wary of giving up the day job straightaway, then the best way to start is to juggle the two. Impossible, you might think, but some of the top businesses in the world, like Apple, were founded by people working from home during evenings and weekends. here are some tips to get you started: SET REALISTIC GOALS If you’re working full-time, it means that pursuing your own business ventures will be limited to evenings and weekends. So, be realistic and set achievable goals. Diarise what you’re going to do each week and set yourself deadlines. Start with the basics first – register your company, secure start-up funding, create a home work station. By setting up a business framework, it’ll be much easier to get your business off the ground. There are some great apps for tablets and smartphones that can help small businesses get organised. Evernote (evernote. com) is a great place to store and organise ideas, while Trello (trello.com) is a useful project management tool. CREATE A BUSINESS PLAN Not all businesses are about making money, some are simply labours of love, but if you want to go self-employed full

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 36

time, you need to make sure your idea is commercially viable. To do this, it helps to make a robust business plan, mapping out exactly what your business will do, how it will differentiate from its competitors, what money you need upfront and what your overheads will be. Sage, the business software developer, has some fantastic resources on its website for start-ups, including a guide to creating a business plan at www.sage.co.uk. TEST YOUR COMMITMENT Starting a business while still working can really test your resolve. You’ll see if you really have what it takes to go it alone without taking the risk of giving up your salary. Juggling two jobs will be difficult at first but if you’re truly passionate you’ll be prepared to put in the extra hours.

TAKE A WORKING HOLIDAY If you want to get your business moving quickly, consider using some of your annual leave. Yes, it may mean sacrificing a week in the sun, but if you’re serious about creating a successful business, your sacrifice will pay off in the long run. Or, consider asking your boss if you can cut back your hours. Reducing to a four day week, with one day a week for your freelance interests, could be beneficial to both parties. Your employer will save money on wages and you’ll free up some time for your own business interests. Just ensure that you’re upfront with your boss from the outset. It is better that they know your motivations for reducing your hours, rather than risk them finding out from someone else and losing their trust.

SET A ROUTINE Serious about starting your own business? Well, you need to put in the time, and that means figuring out when you’re most productive out of working hours. If you find that your brain is most active in the mornings, then get up a few hours earlier, or if you plan on working in the evenings set a regular start and finish time. Get into a routine and stick to it, that will make you more productive and you’ll spend less time procrastinating. KEEP YOUR JOBS APART It may be tempting to check your freelance emails at work or to give out your work phone number or email address to a prospective freelance client, but it pays to keep the two roles separate. Most employers have strict policies about accessing personal files through their equipment – so for the sake of your day job, avoid crossover. Arrange appointments or calls for your own business during lunch breaks, in the evenings or at weekends, access personal business emails and documents via a separate PC, tablet or smartphone. Respect your employer and don’t abuse their trust, otherwise you could find yourself out of a job.

15/07/2013 12:56

How to... TAP INTO SUPPORT Going it alone in business doesn’t mean you’re on your own. There’s a wealth of online resources available for you to tap into. If you’re just starting out, visit www.startups.co.uk, which has guides on everything from raising capital and marketing your business, to hR support and managing your cash flow. If you feel you need a bit of extra support getting your business off the ground, why not enlist the help of a mentor? Citzenguild (www.citizenguild.co.uk) allows start-ups to buy up blocks of time, which they can then allocate between a range of mentors on a minute-by-minute basis. Similarly, the Rockstar Mentoring Group (www.

rockstargroup.co.uk) puts you in touch with mentors relevant to your sector, in exchange for a small fee. Young entrepreneurs, aged 18-30 can also get support from the Princes Trust Enterprise Programme (www.princes-trust.org.uk). ASK FOR HELP Juggling a full-time job with a start-up is going to be demanding for anyone. You’ll be wearing a lot of different hats and taking on a whole variety of jobs. Avoid becoming overwhelmed by asking for help. If you find that you’re struggling with marketing, outsource to a consultant. If you need help on the financial side, hire an accountant. And, if you

their trust”

have children, ask friends and family to help out with the childcare, so that your partner doesn’t have to shoulder all the responsibility while you’re busy. STAY POSITIVE Setting up your own business should be an exciting adventure, driven by your passion and drive to succeed. If it’s what you really want, you’ll put in the extra hours and do what it takes to get your business up and running. Then, once you’re established, and you start to turn a profit from your business you’ll have the freedom to hand in your notice on the day job and pursue your new venture full time. Good luck!

WHEN IS THE

right time

TO CHANGE?

You’ve got a great idea for a viable business, but how do you know when it’s the right time to quit the day job and give self-employment a go? Melissa Stewart explores the best way to go it alone.

1-43_AsianWealthSummer13.indd 37

15/07/2013 12:56

BUSINESS news Today's news for tomorrow's business

US TOPS FEMALE ENTREPRENEURIAL TREE The US has been named as the best place to be a female entrepreneur, with the UK coming in at sixth place behind Australia, Germany, France, and Mexico, according to a report sponsored by Dell. The report is the first gender-focused,

“Unleashing the power of female entrepreneurship can have a dramatic eﬀect on a country’s economy”

BLINKX BRINGS HOME THE BIG BUCKS The video search platform blinkx, formed by UK technology entrepreneur Suranga Chandratillake and Kathy Rittweger in 2004, has reported an eight-fold increase in yearly profit, announcing record profit of $17.7 million at the end of March. Turnover at the video search company also shot up by 73% to $198 million. Events such as the US presidential election and the London Olympics have both helped to boost the company’s profits. And it is not just users that see the potential in the blinkx business model, during the year new repeat advertisers such as Disney, Gap and Siemens have also come on board. “Several structural trends are fuelling the growth of the online advertising industry in general, and the video advertising sector in particular,” said S. Brian Mukherjee, CEO of blinkx. “These include widespread broadband adoption, the proliferation of connected devices and the rapid migration and consumption of video content online – all of which are prompting advertisers to follow audiences online.”

1-43_AsianWealthSummer13.indd 38

global entrepreneurship ranking based on the Global Entrepreneurship and Development Index (GEDI), which measures high-potential female entrepreneurship based on individual aspirations, business environments and entrepreneurial ecosystems. The US scored high on indicators for good institutional foundations and a strong entrepreneurial environment, placing it at the top of the rankings. Despite India’s recent economic surge, it disappointingly only ranked in 16th place. Other rankings include Japan (12), Morocco (13), Brazil (14) and Egypt (15), and Uganda (No. 17). “Unleashing the power of female entrepreneurship can have a dramatic effect on a country’s economy. The research clearly supports the assertion that key things need to be fixed in order for female entrepreneurship to survive and flourish,” said Karen Quintos, chief marketing officer and senior vice-president at Dell. “Increased access to knowledge, networks, capital and technology are critical if countries are to empower female entrepreneurship and create a culture of success.”

NETWORK FOR CHANGE Barclays and KPMG have set up a forum to help female business owners of South Asian origin. It is a private networking group aimed at the UK’s upcoming and successful Asian female entrepreneurs and advisors. Members of the networking group are given access to exclusive events, each specifically designed to provide members with the opportunity to network with like-minded female business owners, share best practice and learn how to take their business to the next level. The forum aims to bring its members together on a regular basis to share ideas on growing their businesses while providing unparalleled access to Barclays’ and KPMG’s corporate, business and private client networks. The first event took place in June, and the next event will be in September.

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:56

QUoTEs anecdotes

BIG TROUBLE FOR SMALL INNOVATION A recent report commissioned by the Big Innovation Centre has shown that although small innovative firms in the UK are more likely to apply for some form of funding, it is these types of firms that find it harder to access finance. The survey asked almost 12,000 SME employers to investigate whether innovative small firms find it harder to access finance, and whether these problems have worsened since the financial crisis. The results showed that 44% of innovative firms find it difficult to access some sort of funding, as compared to 32% of other firms. Although many have had trouble in finding financial backing since the recession, it also seems that small innovative start-ups have been particularly hard hit. In 2010/12, over a third of innovative firms who tried to access finance were unable to obtain any, and this figure had doubled since 2007/8 when only 14% of innovative firms who applied found it hard to obtain. This represents an increase of 23%. The report authors suggest that new initiatives such as the British Business Bank should promote new forms of finance including hybrid finance.

in order to succeed, your desire for success should be greater than your fear of failure. Bill Cosby YOU HAVE TO LEARN THE RULES OF THE GAME. AND THEN YOU HAVE TO PLAY BETTER THAN ANYONE ELSE. Albert Einstein

Either you run the day or the day runs you. Jim Rohn CHANGE WILL NOT COME IF WE WAIT FOR

The chocolatiers behind Devnaa, the Indian-inspired confectionary brand, have launched a new brand to ca ture the interest of the sweet-toothed tourist. The new brand, The London Chocolate Company, is a luxury confectionary brand and souvenir, to attract both tourist general consumer trades. Its collection of traditional British ﬂavours include Earl Grey and gin and tonic. The collection will be available from July 2013. A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 39

SOME OTHER PERSON OR SOME OTHER TIME. WE ARE THE ONES WE’VE BEEN WAITING FOR. WE ARE THE CHANGE THAT WE SEEK. Barack Obama

i’ve always considered myself to be just average talent and what i have is a ridiculous insane obsessiveness for practice and preparation. Will Smith

15/07/2013 12:56

BUSINESS news

fortune FOOTSTEPS

NEWS IN BRIEF London Mayor Boris Johnson has called for more flights between London and India to make the UK capital a more “open and welcoming city for Indians”. He said the city “has some catching up to do” at an event hosted by the Indian Journalists Association. Retail brands such as Benetton, Primark, Tesco and H&M have all committed to a five-year safety improvement in Bangladesh, after a factory collapsed and killed more than 1000 people in April. The safety pact now covers 1000 factories in Bangladesh. The pressure group Labour behind the Label said that the deal will “bring historic change in the Bangladeshi industry”. Eric Pickles MP, British Cabinet Minister for Communities and Local Government, has led a 20-member UK business delegation to India this past June. The accompanying delegation with Pickles was in Kolkata to explore partnerships in the built environment, infrastructure, construction and water sectors. In Kolkata, he highlighted the huge business potential for Indo-British collaboration in these areas. To strengthen links between the Midlands and India, and to facilitate business opportunities for SMEs in both places, the Confederation of Indian Industry is to open its first office outside of London, to be based in the international trade hub in the head office of the Leicestershire Asian Business Association. LABA president Jaspal Minhas described this as a “very important development” that will “immensely benefit” SMEs and MSMEs in the Midlands. National airline Air India has been celebrating 65 years of operations, which coincides with the official launch of its new Boeing 787 Dreamliner aircraft into the UK market. Celebrations were held in London and attended by Indian and British VIPs. WorldPay has bought the payment services provider YESpay, founded by Chandra Patni, for an undisclosed amount. On completion, WorldPay will acquire the payment platforms and technologies from the YESpay companies and 150 employees based in the UK, Canada and India, and over 3,000 customer relationships. The Independent columnist Amol Rajan, 29, has been appointed editor of the newspaper, and becomes the first non-white editorial head of a UK national paper. Amol replaces Chris Blackhurst less than two years since he was named editor.

1-43_AsianWealthSummer13.indd 40

In his latest instalment, Aneesh Popat tells AWM about the advancements his chocolate-making business has made in the last three months. Taking a revolutionary concept such as water-based chocolates was never going to be easy. Delivering a remarkable transparency and honesty in flavour like no cream-based chocolate allows, we have been able to create remarkable flavour profiles based on meticulous studies on aromas. Naturally, this has been popular amongst chefs, mixologists and even perfumeries. During Easter we held pop-up shops at Chocolate Festivals in Brighton, Oxford, London’s Southbank and at The Le Meridien Hotel on Piccadilly. Better profit levels to last Easter suggest a notable desire for our premium handmade produce, even in these economically grim times. We explored the corporate market with St Ives cosmetics asking us to design an egg, which had a soft apricot yolk nestled in a vanilla ganache capped in a chocolate shell to accompany its Apricot Scrub. Amidst everything that The Chocolatier has done, the most testing and consuming act has been taking on our first employee. For any small business this is avoided for as long as possible. Having to make enough money to provide for two salaries is always daunting initially but without this expansion, growth is bound to be far less.

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:57

Future Markets, Future Growth What’s your International Strategy? As many Western economies struggle with a fragile recovery the world is looking to the emerging economies for global growth. With the opportunities including gaining advantages through leading technologies and high quality products and services at affordable prices, can you afford not to align your business strategy to a changing world order? To find out how KPMG can work with your business, please contact: robert.moore@kpmg.co.uk kpmg.co.uk

© 2011 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International.

1-43_AsianWealthSummer13.indd 41

15/07/2013 12:57

CMY

7/9/2013

9:36:11 AM

N E TJ E T S E U R O P E I S T H E M A R K E T I N G A G E N T O F N E TJ E T S T R A N S P O R T E S A É R E O S S . A . , A N E U A I R C A R R I E R . E M A I L S S E N T T O T H I S A D D R E S S W I L L B E V I E W E D B Y N E TJ E T S A N D A S I A N W E A LT H M A G A Z I N E F O R T H E P U R P O S E O F M O N I T O R I N G R E F E R R A L S .

AsianWealth_SummerFlying.pdf

Add days to your holidays.

YO U R O W N P R I VAT E A I R L I N E

Fly with NetJets this summer and enjoy fast, direct ﬂights to your choice of 5,000 airports worldwide. No more queues, crowds or connections – just shorter ﬂights and longer holidays. + 4 4 ( 0 ) 2 0 73 6 1 9 6 2 0

1-43_AsianWealthSummer13.indd 42

A S I A N W E A LT H @ N E TJ E TS E U R O P E .C O M

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:57

S MANY BuSINESSES STRIVE TO GROW in ever demanding economic markets, it is worth emphasising one of the most important attributes of a successful business: cashflow. This is often referred to as the life blood of a business, and as a precursor to this we are often asked recurring questions by business people: The business is making a good profit so my cashflow must be fine.....? Or, “I’ve got money in the bank so must be making a large profit this year….?” This misconception often comes about because the basis of calculating profit is different to monitoring money in the bank account, the aforementioned and fundamental cashflow. When starting or managing a business, it often becomes difficult to keep your eye on the bank balance as well as predicting the use of cash in the coming weeks and months. Money may be spent on unforeseen purchases, such as new stock, vehicle repairs, or set up bills. If there is no planning for such expenditure then the working capital of the business can run dry and you may be left looking for funds to keep the business trading. It may not simply be a case of reigning in your spending, what if a customer doesn’t pay and becomes a bad debt, or a client decides to go to a competitor. If you’re operating on the assumption that things won’t or can’t change that quickly, you could find yourself in trouble sooner than you think. Profits are bookkeeping entries and sales will be booked, but not necessarily paid, when a profit figure is calculated. A similar issue can arise with costs, and as such they are used to calculate profits but aren’t necessarily paid at the time.

A s i a n We a l t h M a g . c o . u k

1-43_AsianWealthSummer13.indd 43

Cash ‘fLoW’ really is KING... WHAT CAN I DO TO KEEP MY BUSINESS RUNNING….? ● Create a cashflow forecast. This doesn’t have to be overly complicated and in its simplest form can be a list of money coming in and going out over a period of time, ensuring you do not overstretch yourself. ● Don’t over trade. This seems like an odd thing to say, but if you buy a lot of stock how long will it take to sell it, and does that work with other payment commitments? Running a business efficiently is the key. ● understand the cash cycle. how long does it take to get money in from your customers, and how long do you have to pay suppliers? This cycle varies greatly depending on the business.

● Know your debtor and creditor days. Is it taking longer for your customers to pay? Are you being squeezed by suppliers for payment? ● Don’t rely on the bank balance! You may have some committed payments in there; for example, VAT, and corporation tax need to be deducted if they are due, to get to your ‘free cash’.

STEPS TO TAKE ● Monitor your bank balance and your cashflow forecast. This may sound depressing, but it will help you focus on what should have happened, and what is actually happening. ● Renegotiate supplier terms where possible. Staggered payment terms could be an option. ● Build on customer relations. It’s always better to build a relationship with customers, if a customer doesn’t pay, you can always request payments on account. ● Cash under the mattress. Squirrel away some cash for a quick short term loan/injection to your business if you get into a cashflow squeeze. ● Most importantly (and there is no bias here!) speak to your accountant. They should help you before you get into trouble.

Chartered Certified accountants

15/07/2013 12:57

women business THE

WHO MEAN

Business is traditionally seen to be something of a man’s world. At Asian Wealth Magazine, we’ve highlighted our pick of the eight most influential Asian business women in the UK. Women, whose sacrifice and hard graft have led them to blaze new trails – paving the way and opening up opportunities for hundreds of British Asian women just like themselves. Nima Suchak introduces you to the women who mean business. 44

44-79_AsianWealthSummer13.indd 44

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:58

VIN MURRIA The chief executive of Advanced Computer Software Group, a leading provider of patient management software solutions, launched the company in 2008 and has seen it since grow to 400+ million market capitalisation and almost 1000 staff, yet with an eye on expanding its export markets. Vin has over 20 years’ experience of publicly listed companies and private eq uity experience focusing on the software sector. She is a co-owner and partner at Elderstreet Capital and a non-executive director of Greenco. She was named “Woman of The Year” at the 2012 Cisco Everywoman Techology Awards of her achievements in the technology sector.

MEENA PATHAK Always the foodie, Meena Pathak, OBE, was keen to join the family’s spices and pickles company when she came to Britain in the late 1970’s. With her training in food technology and experience as a chef for the Taj hotel Group, she was well armed to develop a recipe for tandoori paste, q uickly expanding the enterprise to packaged food and made her fortune. Today, Patak’s is the uK brand leader in Indian foods, exporting to over 40 countries. Meena Pathak has written two Indian cookbooks, F lavours of I ndia, which won the Gourmand World Cookbook Award in 2002, and I ndian C ooking f or F amily and F riends.

‘‘

DR KAMEL HOTHI

Vin has over 20 years’ experience of publicly listed companies and private equity experience

With 33 years’ experience in the banking industry, Dr Kamel hothi is the architect behind the Asian strategy for lloyds Bank. Co-founder of the lloyds Banking Group Ethnic Minority Network and Women’s Network, Kamel is the trail blazer for raising the profile of hundreds of Asian entrepreneurs by demonstrating the value added to Britain by sponsoring more than 30 national Asian awards. She now leads two multi-million pound corporate social responsibility initiatives for lloyds Banking Group in partnership with hRh Prince of Wales.

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 45

15/07/2013 12:58

International payments? We can save you money. Currencies Direct has been helping individuals and businesses to save money on international payments for the past 17 years.

Our 3000 business customers value Currencies Direct because we offer:

We offer competitive exchange rates which impact positively on the profitability of your company whether you make or receive international payments.

• An easy-to-use online platform, iPayFX

• The best possible rates on all deliverable currencies • Spot and forward contracts

• Automated batch upload using MultiPay

We also provide solutions for more complex foreign exchange payment requirements and can help you to mitigate the risk of exchange rate fluctuations.

• Limit orders • A proactive dealer • Pertinent market information

asianwealth@currenciesdirect.com Head Office: 51 Moorgate, London, EC2R 6BH, UK

+44 (0) 20 7847 9480 currenciesdirect.com

S PA I N

00 ASIAN WEALTH AD JUN 13 v5.indd 1 44-79_AsianWealthSummer13.indd 46

PORTUGAL

FRANCE

SOUTH AFRICA

INDIA

USA

1996

years

‘

2013

A s i a n We a l t h M a g . c o . u k

02/07/2013 16:10 15/07/2013 12:58

PERWEEN WARSI Perween began making finger foods from home before she founded S& A foods in 1986, winning a major contract to supply dishes to Asda and Morrisons. She was appointed to the Department of Trade and Industry Advisory Committee and Competitiveness and sits on the CBI National Committee. In 2004, Perween regained 100% ownership of S& A Foods from venture capitalists 3i. Perween was awarded an MBE in the New Year’s honours list in 2002, and the CBE award in the Queen’s Jubilee honours list.

‘‘

013 16:10

Pinky was named one of Britain’s 100 most entrepreneurial women and one of 30 most influential Muslim women

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 47

NINA AMIN Nina is the first Asian woman to be appointed as a Tax Partner at KPMG, where she works as a tax advisor for listed and large family-owned and private businesses. Nina is a qualified chartered accountant with over 20 years of tax experience in providing commercial tax advice across a broad range of areas. She has won a number of awards including the 2008 Professional of the Year and the 2009 Asian Who’s Who leadership award. She is a board member of KPMG’s Advisory Council and sits on KPMG’s partner panel for both internal and external partner and director recruitment.

PINKY LILANI listed on BBC Radio 4’s Women’s Hour power list of 100 most influential women in the uK 2013, Pinky lilani is a food guru, entrepreneur, author, motivational speaker and champion of women. She is founder and chairman of the Asian Women of Achievement Awards, as well as The Women of the Future Award, The Ambassadors’ Programme’ and The Global Empowerment Award. As a food guru, she has advised supermarkets, written cook books and runs team building days for major corporations. Patron of several charities, she was named one of Britain’s 100 most entrepreneurial women and one of 30 most influential Muslim women.

15/07/2013 12:58

44-79_AsianWealthSummer13.indd 48

A s i a n We a l t h M a g . c o . u k

â&#x20AC;&#x2DC;

15/07/2013 12:58

RUBY MCGREGORSMITH

IMAGE: ED ROBINSON

Chief executive of MITIE Group, the strategic outsourcing and energy services company, Ruby is one of a small number of women holding the position of CEO in the FTSE 100 and FTSE 250, and is the first Asian woman to be appointed in such a role within that group of companies. She has attracted numerous awards, including the First Woman of Business Services by the CBI in 2007 and Business Woman of the Year at the Asian Woman of Achievement Awards in 2008. She is on the corporate board of Great Ormond Street hospital and is also a non-executive director with Michael Page International. Ruby was awarded a CBE in 2012.

FEATUREFLASH / SHUTTERSTOCK.COM

‘‘ Ruby is one of a small number of women holding the position of CEO in the FTSE 100 and FTSE 250 A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 49

MEERA SYAL One of Britain’s most popular entertainers, Meera Syal’s TV career kicked off with The Real McCoy in 1991, and several years later, she co-wrote Goodness Gracious Me on TV and radio, and later, The Kumars at No. 42, which made her a household name. The actor and scriptwriter has written and starred in a wealth of television, radio, and theatre productions, and has written several novels. Meera Syal was awarded the MBE in the 1997 New Year honours list and in 2003 was listed in The O bserver as one of the fifty funniest acts in British comedy.

wonder WOMEN

Farida Gibbs, CEO of the IT consultancy Gibbs S3, is AWM’s latest columnist. Every issue, she will be bringing the female view to the latest business topics. “How do you manage to fulfil your role as a CEO and juggle family life?” Why is this question asked mainly of businesswomen? I don’t recall hearing a man being asked that question. I’ve attended many gatherings concerning women in business, taken part in debates and panel interviews about ‘work life balance’ and each time I strongly feel that from the women I have met, it is inherent in the Asian culture that women are expected to fulfil all domestic duties. Is it possible for women to have successful careers and take care of a young family? Is it possible for women to live their dream and succeed in life? I ask myself these questions and each time I answer… YES. It’s not easy, there are many hurdles to be jumped for a woman to ‘have it all’, but it is possible, and women can achieve whatever they set their minds to. Look carefully at every woman nominated for an Asian Women of Achievement Award. Discover why they were selected as finalists. Every one has self-belief, passion, and hunger to succeed. After that, everything else slots into place.

If you have any business related questions you would like Farida to advise on, email info@media-36.com

15/07/2013 12:58

44-79_AsianWealthSummer13.indd 50

15/07/2013 12:58

Legal

Jumping the hurdles:

IMMIGRATION EMPLOYMENT LAW Finding the right staff is never a simple task, and even harder when they originate from outside the country in which the potential employer is situated. Dipinder Sehgal of The Sethi Partnership discusses the difficulties in employing staff from outside the EEA.

WITh ThE uK GOVERNMENT PlEDGING TO REDuCE immigration figures in the UK, obtaining a visa is becoming increasingly difficult and unattractive for migrants to come and work in the uK. Many businesses in the uK are struggling in todayâ&#x20AC;&#x2122;s economy with no light at the end of the tunnel. The last thing that British businesses need is for the government to close our borders to migrants who have the skills to undertake a job which fills a gap in the workforce that cannot be filled by a settled worker. Acq uiring a visa to come and work in the uK is no easy task. There are many people who have submitted an application to come and work in the uK and it has been refused. For employers to meet the uK Border Agencyâ&#x20AC;&#x2122;s (uKBA) criteria to sponsor a migrant is not that easy either, with many hurdles for employers to cross before they can even consider employing someone outside of the uK and European Economic Area (EEA). Sponsorship is at the heart of the points-based system and in the first instance an employer will have to apply to the uKBA for licence. On successfully becoming a licensed sponsor registered with the uKBA, an employer will be able to allocate certificates of sponsorship to the people they wish to employ. Certificates of sponsorship cannot be allocated to anyone, only to those applying under the Tier 2 and Tier 5 categories. In some cases, the Occupational Shortage list and National labour Market

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 51

Test will need to be dealt with before a certificate of sponsorship can be issued. Once the prospective employee has been allocated a certificate of sponsorship then he or she will be able to make an application to come and work in the uK. Sponsors must remember that they have a duty to prevent illegal working in the uK and must ensure that they check all documents of all migrant workers before and throughout their employment. Failure to do so, or knowingly employing someone without permission to work in the uK, could result in criminal and civil

penalties including fines of up to 10,000 per illegal worker and in some cases imprisonment. I f you are a prospective employer who wants to sponsor someone f rom outside the U K and EEA, c ontact our immigration department f or specialist advice on 02 86 64 or D ipinder@ sethi.co.uk. www.sethi.co.uk

15/07/2013 12:58

Luxury Air Charter Specialists

Airbus Corporate Jet

44-79_AsianWealthSummer13.indd 52

Vertis-AsianWealth-DPS-AD-PRESS.indd 1

Global Express XRS

Dassault Falcon 7X

Learjet 60

15/07/2013 12:58

11/04/2012 13:00

/2012 13:00

44-79_AsianWealthSummer13.indd 53

15/07/2013 12:58

44-79_AsianWealthSummer13.indd 54

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:58

secret THE

MILLIONAIRE

Nima Suchak speaks to Kavita Oberoi, founder of Oberoi Consulting, who shares her journey of breaking with tradition to become one of the most successful entrepreneurs in the country.

AVITA OBEROI BROKE EVERY RulE IN ThE BOOK to achieve her dream. She was raised in a traditional Indian family, where women were not encouraged to learn or work, yet she became a successful business woman and a voice for British business. Kavita is now a regular on business panels and TV shows, with appearances on Bloomberg TV, ITV business panel, and was featured on the hit Channel 4 programme, The Secret Millionaire, to name a few. She recently filmed a series for Sky TV called Make Me a Millionaire Inventor, in which 12 inventors battle it out before a panel of industry experts and investors. “It’s been an exciting time,” says Kavita. “Most entrepreneurs get bored very q uickly, and look for the next thing. My real forte is start-ups and acq uiring different companies.” Three years ago she added a security firm to her portfolio from which she exited earlier this year. On Make Me a Millionaire Inventor, she cast her eye on an innovative baby bottle brand that she decided to invest in. The range of feeding bottles which cools milk down fast is set to retail all over the country and eventually in the global market. “The baby bottle is a brand new innovation created by a young designer who pitched for her investment on the show. It’s very different to anything I have been involved in.” she says. “But once in business, you can apply your skills across the board. I’ve been in business for 11 years and I feel very much I am starting now.” Kavita was raised in Bradford. her father had come to England in the 1960s, and set up a successful plumbing business. “My entrepreneurism comes from my dad, but I had a very strict upbringing in that girls just weren’t meant to study or go to work,” she says. “My father came with nothing, and built up his business after watching a plumber working on a bath. It was sheer hard work and determination,” she explains. In her family, business was a man’s domain, and although Kavita credits her father for sowing the seeds of her success, it was her mother who empowered her to seek out her education, and eventually, her fortune. “I always wanted to learn, to do things differently, and my mother was really empowering. Even as a child, she would sneak me out of the house to attend ballet, tap, and music classes, without anyone knowing.” Even at a young age, Kavita’s competitive spirit meant she excelled in everything she applied herself to. Kavita’s father passed away when she was 15, and it was soon after that Kavita made a

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 55

15/07/2013 12:58

44-79_AsianWealthSummer13.indd 56

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:58

strict upbringing, girls weren’t meant to study or work” “I had a very

shocking announcement: she wanted to work. “I got a Saturday job in retail, and my family were up in arms,” she said. “They were saying that I don’t need to work, and I was bringing shame on the family. But my mum told everyone to back off, saying it was okay as long as I continued with the traditions, and eventually had an arranged marriage.” Going to work was a turning point for Kavita. She was a born salesperson, and came into her own in that environment. Shortly after, Kavita pursued another dream, going to university, and earned a degree in chemistry at the university of Huddersfield. After spending some time in the laboratory, Kavita knew she wanted to build on her skill base in sales, and marry it with her passion for medicine. Kavita left Huddersfield with a first class degree in applied chemistry. She was the first woman in her family to get a university degree, and armed with seven years of sales experience, she embarked on a career with Bayer Pharmaceuticals, q uickly establishing herself as one of its leading medical representatives. “The pharmaceutical industry is incredible at developing and investing in people,” she says. “I was put on different training courses, for negotiation skills, business plans, which set me up perfectly. It was a great training base.” however, after missing out on a promotion with Bayer, Kavita made the decision to go it alone, which she says is the best thing that ever happened to her. “When I missed out on an opportunity for progression, I said to myself that I will never work for anyone ever again. I was married, and had two girls, and if I had got that job I probably would have stayed. Even when I went for other interviews, I had a niggling thought that I would probably have to work another 8-10 years for someone to tell me I’m not good enough. “With all the skills and knowledge that I had gained, and knowing that even if I went freelance, I could eq ual my pay.

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 57

I decided to leave the job, and I knew that once I did that, failure was not an option,” she recalls. Kavita consolidated the training she had received, and put all her contacts in the industry on her radar. “I thought of a service provision that could be useful. To start with I could work from my bedroom – all I needed was a laptop and a car. It took little investment to start with. “Initially I didn’t have staff to go out and deliver the services. I had to pretend we were large enough to deal with the might of the pharmaceutical industry and I had to go and do the work myself.” As a wife and mother, Kavita ensured that her home life did not suffer as she built her business from scratch. her mother had advised her that whatever she did, as long as she had dinner on the table every day, she would be alright, and she lived by that rule, even cooking at ungodly hours, so she couldn’t be accused of neglecting her family duties. By August 2001, six months later, demand for her services had become so great that she established Oberoi Consulting, an IT and business healthcare consultancy to provide solutions and services to the industry. her big break came when she won a contract with Pfizer which continues to be a client, as is her former employer, Bayer Pharmaceuticals. She recalls presenting at the Bayer conference earlier this year. “I

remembered the days I used to be in the audience thinking that one day I will be on the stage, and here I was, I had gone full circle.” Today, Kavita says that one of her biggest challenges is competition. “I spent time developing and empowering people, like the books tell you, only for this to backfire.” One of the employees decided to use the company IP to enable them to setup as a competitor, luckily this was nipped in the bud before it got off the ground. “A costly but valuable business lesson,” she says. Kavita is very involved in inspiring and motivating young people, women in business, and charities. She is a sought after keynote speaker, empowering others to achieve their true potential. “My father was a successful businessman, but is remembered more for the good he did for people. These values are a big part of my life. When I set up the business it was all about making money, but it was after I went on a trade delegation to India with Pinky lilani, it dawned on me that I needed to do more. A few years prior to that I had been approached by The Secret Millionaire, which I initially declined, and I got another call from the Secret Millionaire producers in 2008, which I accepted.” After appearing on the show, Kavita went on to become a director of one of the charities, and was inspired to do more on a global level. In 2010, she was approached by the World Association of Girl Guides and Girl Scouting who were setting up the Global Girl’s Fund, of which Kavita became chairperson. She led the charity to reach its target of 10 million, a year earlier than planned. “If I start something, I absolutely see it through to the end, no matter what we have to go through,” she says. “I have high standards. I will do it 150%, whether it’s for charity or business. It’s that focus, passion and drive to ensure you succeed at what you are doing” . www.oberoi-consulting.com

15/07/2013 12:58

OVER 30 MILLION CHILDREN IN SOUTH ASIA DO NOT GO TO SCHOOL. MOST OF THEM ARE GIRLS.

Education is a priority for The British Asian Trust. We help poor children, especially girls, go to school. We do that by investing in local charities — like Educate Girls in Rajasthan, India — that are making the greatest impact on poverty in South Asia.

Our unique approach aims to encourage philanthropy amongst the British Asian community by:

Since 2008, Educate Girls has touched the lives of more than 37,000 girls. Through our portfolio of high-impact charities like Educate Girls, the Trust has reached out to more than 350,000 people in Bangladesh, India, Pakistan and Sri Lanka.

• Showcasing grassroots charities that do not have adequate visibility in the UK

Founded by British Asian business leaders at the suggestion of HRH The Prince of Wales, the Trust promotes effective giving that creates lasting change in South Asia.

• Combating scepticism in the important sector of charitable giving in South Asia

• Sharing the progress of donations through regular reports

Help us bring lasting change to South Asia.

“The British Asian Trust supports innovative and inspirational organizations and projects in South Asia and in the United Kingdom to address issues of long term sustainability.”

Visit www.britishasiantrust.org to learn more and donate online or call: +44 (0)20 7024 5646

PRESIDENT: HRH THE PRINCE OF WALES

THE BRITISH ASIAN TRUST IS A UK REGISTERED CHARITY (1127366) 00

44-79_AsianWealthSummer13.indd 58 BAT_ad_mar12_final.indd 1

A s i a n We a l t h M a g . c o . u k

‘

15/07/2013 10:46 12:58 27/03/2012

TiEUK

inexorable NEED FOR entrepreneurs THE

Dr Sanjeev Ahuja, the president of TiE UK, in the first of his regular AWM columns, tackles some of the big questions on entrepreneurship as a means for social change in 2013.

12 10:46

PHOTOGRAPH BY PHILBOURNE.COM

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 59

‘‘

TIE uK IS ThE BRITISh OFFICE OF ThE WORlD’S largest global non-profit organisation fostering entrepreneurship. Its raison d’ê tre is to raise awareness about the importance and benefits of entrepreneurship, encouraging it as a profession of choice rather than a fall back, and in the process enabling the next generation of self-empowered men and women. With 62 chapters and 13,000 members in 18 countries across five continents, TiE is singularly focused on entrepreneurship as a uniq ue vehicle for self-reliance and sustainable wealth creation. Its charter members, all established entrepreneurs or senior professionals, guide aspiring and established entrepreneurs on business issues through mentoring and coaching, developing their skills through education, and linking entrepreneurs across its extended community though effective networking at hosted events. Our firm belief is that entrepreneurs act as a catalyst for growth in the expanding global marketplace. Economic success on the back of successful entrepreneurship builds businesses, and as the business pushes forward it offers employment to people who innovate to address demand by recognising and fulfilling additional needs, further contributing to the success of the business. This is the virtuous circle of thriving businesses in a healthy economy; as they make their way up to the crest of a market cycle aggressively maximising positive returns. During good times the larger the business means the bigger the fortune. however, in bad times it can mean the bigger the misfortune. Irrespective of the reasons, after the crest of a market cycle comes the inevitable trough. Where focus is on

productivity when the demand is high, it shifts to cost reduction when demand is low. Falling profits set off efficiency improvement drives – businesses strive to do more with less. Employees are subject to what may seem like indiscriminate layoffs and innovation grinds to a halt. This is the vicious circle of declining businesses in a struggling economy; as they move to the trough of a market cycle while striving to maintain meagre returns. Where is today’s job security when faced with the risk of “right sizing” ? Employment is risk-prone. It also contributes to stifling our pilot-light of entrepreneurship by: 1) encouraging dependence on an employer; 2) appealing to our innate sense of risk aversion; and 3) weakening the creative thought necessary for recognizing opportunity. Risk can be transferred but not eliminated. Many think it can be reduced through employment; yet devolving our responsibility to influence its outcome brings with it a misplaced sense of security. In the next issue, we will reflect on some seminal issues around entrepreneurship, and look forward to being part of the conversation. We’ll explore the answers to q uestions such as: Can entrepreneurship address the deep rifts of ever-widening segregation between the haves and have-nots in society? What is driving entrepreneurship as a means to empower women? Is it the State’s responsibility or should we be taking back control of our own economic welfare? Could entrepreneurship be the solution to address the ills of our polarised society? uk.tie.org

15/07/2013 12:58

44-79_AsianWealthSummer13.indd 60

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:58

{

Best 10

{

TEN OF THE BEST

Franchises If you’re looking to break out from regular employment, but the risks of going it alone with your own business feel too great, then franchising could be the way forward. Here are ten of the UK’s best.

● Rosemary Conley Diet and Fitness Clubs

Rosemary Conley’s fitness empire is built on hundreds of franchises nationwide. Franchisees can get started with an up-front fee of 30,000, which includes marketing materials and launch advertising. One for keep fit fanatics. www.rosemaryconley.com ● Riverford Organic Farms

Guy Watson’s award-winning Riverford business is all about promoting and delivering seasonal produce. A franchise costs 12, 00, plus a ,000 training fee and guarantees five-year exclusivity on your patch, helping you build up a large delivery network. www.riverf ord.co.uk ● Eazi-Apps

The app economy is booming on both iPhone and Android platforms. Eazi-apps offers first time developers a chance to learn the ins and outs, as well as offering access to a huge array of business clients. It costs , 00 to get started. www.eazi-apps.co.uk ● Betterclean

Commercial cleaning is unlikely to be affected by the vagaries of the continu-

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 61

ing economic downturn. For 32,000 plus VAT, Betterclean offers access to a proven business model and the chance to manage a team of supervisors and cleaners locally. www.bettercleanf ranchise.co.uk ● TaxAssist Accountants

One for qualified accountants, TaxAssist is aimed at helping financial professionals branch out on their own with the backing of a major brand. TaxAssist helps small business and self-employed workers, with the chance to run your own branch. www.taxassistf ranchise.co.uk ● Burger King

The huge burger chain is one of the uK’s biggest franchise successes. Prospective franchisees need to have at least 1 million in liquid assets and be willing to open at least four restaurants. The vast popularity of the brand means that there are lots of decent opportunities. www.burgerking.co.uk ● Nandos

Nandos currently uses a master franchiser scheme in the uK, with one company running all the restaurants. however, it has an individual franchise scheme in

Australia, New Z ealand, South Africa, Canada and Namibia, if you’re looking for a foreign franchise opportunity. www.nandos.com/ f ranchises ● The Embroidery and Print Shop

This clothing outlet offers the chance to develop a business in your local area for an initial investment of 1 ,000. The franchiser guarantees 250 orders in the first three months, so you can hit the ground running. www.simplef ranchising.com ● Just Shutters

Don’t dismiss this family business as simply modern-day curtain sales. Just Shutters claims you can reach sales of 1 k in your first year, with an initial cash investment of , 00. No DIY skills necessary! www.justshutters.co.uk ● Mail Boxes Etc

With 125 outlets in the uK, Mail Boxes Etc offers print, postage and secure mail services for a range of clients. A franchise isn’t cheap at 0,000, although 0 of that can be a loan. The established brand name means a good chance of success. www.mbe.co.uk

15/07/2013 12:58

PEOPLE BEHIND THE PROCESS

PUTTING THE TRUST BACK INTO GIVING Over the five years it has been in operation, the British Asian Trust has helped more than one million people in South Asia. Hitan Mehta tells Jo Payne about the Trustâ&#x20AC;&#x2122;s plans to continue the good work.

44-79_AsianWealthSummer13.indd 62

hen the Indian and Pakistan cricket teams met in 2007 on a rainy Glasgow afternoon, it was the culmination of many months of hard work by Hitan Mehta together with Sir Tom Shebbeare and Manoj Badale. Everything had been organised, the teams, the television rights, and the spectators. Unfortunately the only thing that could not be organised was the weather. Players such as Rahul Dravid, Sachin Tendulkar, Sourav Ganguly and Shoaib Malik sat around politely looking at each other until the match was

eventually abandoned at 2.30pm. Weather insurance had luckily been organised and the called-off match made $1 million, making it arguably the most lucrative non-event in sporting history. This $1 million afternoon was the first fundraising event for the British Asian Trust, a charity started by HRH The Prince of Wales, Prince Charles. After The Prince of Wales and the Duchess of Cornwall had visited India and Pakistan in 2005 and 2006, they had returned to Britain invigorated by the people they had met, and were keen to create an organisation that could better connect social

entrepreneurs in South Asia to the diaspora in the UK. The Prince had asked the advice of people such as Manoj Badale (entrepreneur, owner of the Rajasthan Royals IPL cricket franchise, and current chairman of The British Asian Trust), trustee of the charity Chris Mathias (entrepreneur, partner at CMG Partners), and Sir Tom Shebbeare (director of The Princeâ&#x20AC;&#x2DC;s Charities at the time). The idea was that cricket would be an excellent vehicle to kickstart the charity. The man they brought in to organise the event was Hitan Mehta. He came with a back-

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:58

PBTP ground in organising charity events. A lawyer by training, after volunteering in India with the charity BAPS, he took on the launch of the large format film Mystic India, a documentary narrated by Sir Peter O’Toole about a young boy’s journey across India. Today, five years after the weather-worn cricket match, Hitan Mehta is the executive director of the charity. He explains that the largest problem The Prince of Wales saw when he wanted to set up a charitable organisation to help those in South Asia, was a lack of trust in the NGOs operating in the region. “There are 3.3 million registered charities in India today, that’s one for every 400 people in India,” says Hitan. “Now, if they were all doing their job properly, you wouldn’t have the type of poverty we are looking at right now in the region, but how do you know which ones you can trust?” he asks. This lack of trust led to the organisation researching which were the most urgent issues in the region, so the charitable giving could be focused. They found that education and healthcare were top of the list, and Prince Charles was very keen to ensure that the concept of livelihood also be a fundamental in the charity’s giving. “The idea is to help young people into employability. Rather than give them a hand out, you give them a hand up, then you start to solve some of the problems across the region,” explains Hitan. The British Asian Trust’s purpose was never to set up its own programmes in South Asia, only to fund organisations that were already up and running in the region. The organisation believed that there were charities out there which were very good, and the Trust could do the due diligence, and find the ones that were having the greatest impact in the region in the areas of health, education and livelihood. After those have been verified, the Trust funds these organisations for a period of three years, and ensures that when that period of time

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 63

MANN DESHI As just one example of the kind of projects that the British Asian Trust is involved in, Mann Deshi supports illiterate women and girls in rural India by providing them with training in technical, financial and marketing skills, enabling them to become successful entrepreneurs. Mann Deshi has with the support of The British Asian Trust supported the lives of over 25,000 women in rural Maharashtra. Over the last three years the Trust has provided a package of financial and capacity-building support to enable Mann Deshi to grow from three to seven business schools; enhance the quality of its curriculum through its Deshi MBA programme, and become sustainable by bringing on board a consortium of donors including Accenture, The Agarwal Foundation, Aviva, Rubicon, and Vitol Charitable Foundation. “Mann Deshi has really benefitted from the partnership with the Trust. Working across the organisation, it has supported our team to visualise scale, and develop and execute growth plans,” says Chetna Sinha, founder, Mann Deshi.

is over, it has created a better organisation that is much more sustainable for the long term. “For us, it’s about the finding the right organisation, going back to donors, talking to them and telling them where the money has gone, ensure that we look after the funding for

organisations, with 65% of its beneficiaries women and girls. The ambassadors list of the British Asian Trust reads like a who’s who of Asian celebrity, talent, glamour and leadership. Hitan says the Trust couldn’t continue to get out in the public domain as much as it does

them, and the unique part of the trust is that we’ve started to leverage the money that people give us,” Hitan says. For every £1 that is donated to the British Asian Trust, it aims to leverage this five times over through corporate and institutional investors, both in the UK and in Asia. This entrepreneurial way of running a charity is working. In the past five years the Trust has been able to touch the lives of about a million people, to leverage £5 million, and support 30

without their assistance. These key influencers include people such as Dev Patel, Nina Wadia, Meera Syal, Nitin Ganatra, DJ Nihal Arthanayake, Laila Rouass, James Caan, Rishi Rich, Gurinder Chadha and Mishal Hussain to name but a few. These ambassadors do more than just turn up to events; they truly believe in the cause, Hitan says, and are often actively involved with the donors. For example, the Trust held a Dragons Den-style event with Coutts Bank and The Funding

Network, where the celebrity ambassadors pitched the organisations to a donor base of about 100 people. “Nihal came up with a song, Hari Dhillon talked about one of the charities, Mishal Hussain did a piece about mental health in Pakistan, and they had six minutes to pitch one of our charities for funding to an unknown donor audience. They raised £75,000 that night. So they’re all really willing to come in and back the organisation,” he recalls. The charity also works by putting on high profile events, such as a cricket match played between Rajasthan Royals and Middlesex at Lords where Shilpa Shetty joined the cricket in front of a 24,000 strong crowd who were then entertained by Bollywood dancers, something Hitan laughingly describes as “quite an achievement, seeing as Lords is the bastion of conservative England!” Equally important to the running of the British Asian Trust are four groups of very important affiliates: its advisory councils in the countries in which it operates – headed in India by Mukesh Ambani, in Pakistan by Arif Naqvi, in Sri Lanka by Dr Chris Nonis and in the UK by Tom Singh; its trustees (people such as Salman Mahdi, the managing director and global head of key clients at Deutsche Bank and Asif Rangoonwala, who, among other things, owns the rights to the powerboat racing equivalent of Formula 1, P1); its corporate foundations (Aviva, Accenture, AG Barr, KPMG, BT, and Tesco for example); and last but definitely not least, its core group of supporters which include people such as Currencies Direct’s founder Mayank Patel, Madhu’s Sanjay Anand, SP Lohia of Indorama Ventures, Nadeem Ahmad of Global Tea and Pramod and Bina Agarwal of Zamin to name a few. Over the past five years, the British Asian Trust has helped more than one million people in South Asia, in the next five years it aims to raise more than £10 million, and help more than two million people that need it most.

www.britishasiantrust.org

15/07/2013 12:58

SOME THINGS IN LIFE ONLY COME WITH EXPERIENCE

Historically known for their superior products and services, Banham Group offer ultimate peace of mind by providing every client with versatile security solutions for your business, home, family and lifestyle. With the demand for distinct quality, the well-established family company dedicates themselves to delivering premium lifestyle and security services using expert and customer-focused staff. With nearly 90 years of experience, coupled with high standards of professional ethics, this makes Banham the leading provider of physical, electronic and private security.

10 PASCAL STREET, LONDON SW8 4SH | TEL: +44(0)20 7622 5151 sales@banham.com | www.banham.co.uk

44-79_AsianWealthSummer13.indd BANHAM Asian Wealth Magazine A464 Advert.indd 1

15/07/2013 15/07/2013 12:58 09:58

013 09:58

How to...

THE ART OF WAR UNDERSTANDING YOUR

competitors Any successful business will understand its competitors’ business models as well as its own. Here, Melissa Stewart explores how your business can benefit through competitor analysis. IT’S NOT ENOuGh IN BuSINESS to have a great idea and hope it will work. Chances are, somebody else, somewhere, will have had a similar idea and be hoping to make a go of it, too. Whether you’re selling furniture or fabric, building websites or running restaurants, you need to understand the market in which you’re working, and that means keeping an eye on the competition. By analysing your competitors you’ll be able to stay ahead of the curve, spot gaps in the market, improve your offering and ultimately grow your business.

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 65

KNOW YOUR COMPETITORS Start by doing some digging into who your competitors are. Remember, they may not be in the same local area as you, they could be online or abroad and offer a similar or substitute product. Google is your friend here. Search online for them to see if they have a website. If so, how are they pricing and marketing their products? What is their customer service like? If they sell online, take a look at their page source code and find out what key words they’re using to boost their search engine rankings. Also, look and see if they’ve filed any company reports or

15/07/2013 12:59

44-79_AsianWealthSummer13.indd 66

15/07/2013 12:59

play secret shopper, pay them a visit or place an order”

“Don’t be afraid to

presentations. Try and glean as much information as possible. For ongoing competitor updates, sign up for free Google Alerts, and you’ll be notified every time they, or a particular product, make the news. Also, follow your competitors on social media sites like Facebook, linkedIn and Twitter. This will keep you up to date with their customer communications, news and offers. If they have a lot of followers, it will show you that they’re targeting their customers using these marketing channels. Don’t be afraid to play secret shopper either. If they’re in your local area and have a retail space, pay them a visit, note their sales techniq ues and customer service. likewise, if they’re an online retailer, place an order with them – note how they differ and compare with you. FIND YOUR DIFFERENTIATOR Once you have the intel on the competition, you need to figure out what sets your business apart. What’s your uniq ue selling point (uSP)? In other words, what makes you differ from your competitors and hold a uniq ue position in the market? As business planning expert and founder of Bplans Tim Berry says, “Why do people buy your product or services instead of the others offered in the same general categories? What benefits do you offer at what price, to whom, and how does your mix compare to others? Think about specific kinds of benefits, features and market groups, comparing where you think you can show the difference.” Once you’ve defined your USP, do the same analysis of your key competitors. Consider their size, brand positioning, marketing strategy and look at how their business has grown and developed. What are their strengths and weaknesses?

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 67

A simple way to compare your product or service is to write a competition grid. Down the left side of a piece of paper write the names of products or services that compete with yours. Across the top, list the main characteristics or features of each product or service. Include things like target market, price, size, method of distribution, and extent of customer service for a product. For a service, list prospective buyers, where the service is available, price, website, and other features that are relevant. A glance at the competition grid will help you see where your product fits in the overall market. KNOW YOUR CUSTOMERS Once you’ve established who your competitors are and your market position, consider what drives your customers. Think about the nature of your industry and how customers view you and your competitors. how do they choose where to buy from? Are they influenced by price, brand, reputation or word of mouth? As Tim explains, “Competition in the restaurant business might depend on reputation and trends in one part of the market and on location and parking in another. A purchase decision for a car may be based on style, or speed, or reputation for reliability. “For many professional service practices, the nature of competition depends on word of mouth because advertising is not completely accepted and therefore not as influential.” Think about what factors influence buying decisions in your sector, bearing in mind these decisions change depending on the economic climate. Are your competitors capitalising on this? If so, what are they doing that you’re not? If you don’t know what’s driving your customer to one business over another, ask them. Get them to fill out a customer feedback survey after a sale, or if you use social media, gauge customer viewpoints by asking them directly what drives their purchasing decisions.

GAINING THE ADVANTAGE Now that you’ve benchmarked your competitors and know what your customer base wants, you can use the information to gain the competitive advantage. look at your competitors’ market share. Do they command more than you? Is there room for growth in your current market? If not, what other markets could you exploit? Could you sell overseas or target a different demographic? If a competitor is experiencing fast growth, why is this? What are they doing that you’re not? “At the end of the day, what everybody is after is a loyal customer base. The thing to take from any competitive analysis is an understanding of how a rival business is securing and holding on to its customers,” explains business analyst Terry Robson. What you should avoid, warns Vicky Kenrick, writing for business blog Fresh Business Thinking is copying your competitors’ marketing strategies. Vicky says, “These ‘me too’ strategies often end up being ‘me too late’ strategies. “It is important to think of our own company objectives and then, from our understanding of competitor ambitions and capabilities, make strategic choices based upon our judgment on the impact of their potential reaction.” In short, yes, be aware of your competition and what they’re up to, but don’t lose sight of your own business objectives and brand direction. Just because a competitor is doing something, it doesn’t mean you have to, too. Be guided by competitor activity but have faith in your own product or service. www.f reshbusinessthinking.com www.bplans.co.uk

15/07/2013 12:59

private island paradise IN ANTIGUA

Our luxury travel aficionado Varun Sharma takes us to the Caribbean paradise of Antigua, and more specifically, the private island of Jumby Bay.

44-79_AsianWealthSummer13.indd 68

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:59

Travel

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 69

15/07/2013 12:59

GRANGE HOTELS

London's award-winning Independent Hotels

17 London locations 2000 luxury guest rooms and suites 2000 plus capacity in state-of-the-art conference and events spaces Awarded

Best Small Hotel Company - Business Travel Awards 2013

020 7233 7888 | reservations@grangehotels.com | grangehotels.com | 00

44-79_AsianWealthSummer13.indd 70

@grangehotels

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:59

I AM OFTEN ASKED WhERE I WOulD lIVE if money were no object and I always give the same answer – Jumby Bay Island in Antigua. Jumby is just 300 acres in area and sits off the coast of mainland Antigua. The island was discovered by Christopher Columbus in 1493 and is now one of the most wonderful beach destinations in the world – offering private residences and an ultra-luxury resort. The likes of lord Sainsbury and the author Ken Follett have owned homes on the island. The resort has always been passionate about its privacy – its management famously once persuaded Princess Diana not to stay because of the unwanted publicity she and her entourage would attract. This paparazzi-free island has seen its fill of celebrities from Sir Paul McCartney to Jim Carrey walking on its pristine beaches. Antigua boasts 365 beaches – one for every day of the year. There are just 40 accommodations on

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 71

15/07/2013 12:59

KJ Home Cinemat.indd 1 44-79_AsianWealthSummer13.indd 72

A s i a n We a l t h M a g . c o . u k

12/07/2013 15/07/2013 09:09 12:59

13 09:09

offer in the resort. With 28 suites (some with outdoor swimming pools) and 12 octagonal luxury garden villas, even at full capacity, there are never too many guests on the island. Of course, there’s a superb spa, a selection of on- and off-beach dining options, sports facilities including tennis and croq uet, and a plethora of water sports. There are no cars on Jumby – you get around using golf buggies or by bicycle. The weather is truly tropical in Antigua and happiness for me on Jumby is walking around the island in the rain when the rain drops are fat, warm and plentiful… ah, bliss. I have always had issues with “service” in the West Indies. When I first visited the Jumby Bay resort over a decade ago, service was just a word. Now, under new management, it’s a way of life. While Jumby Bay offers the height of seclusion, the mainland is just a five-minute motorlaunch ride away. Antigua offers something for everyone. If it’s shopping you are after, then the capital St John’s is filled with duty-free boutiq ues with all the major brands represented. There are some fabulous golf courses, historical sites, bird watching, dive sites, rum factories, and entertainment – West Indian style – for instance, at the weekly “jump up” at Shirley heights, which is one of the most famous dance events in the world. I love cricket and on my last visit, I watched India thrash the West Indies in a One Day International at the Sir Vivian Richards Stadium. here, the crowds are encouraged to make as much noise as they can so the trumpets blare, the drums are beaten and the whistles are blown with abandon. Even if you don’t like or know cricket – trust me, it’s a grand day out. You can see why Antigua … and indeed Jumby Bay does it for me. THE HIGHS ● It’s only a . hour flight to paradise from london. ● Jumby Bay, a Rosewood Resort, offers total seclusion in an amazing setting. ● The beaches are filled with white, fluffy sand. ● It is very safe for families. ● Rum is cheaper than fruit juice so each

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 73

“rum punch” is outstanding. ● There are few rooms and suites – ensuring personal and faultless service. ● Antigua guarantees sunshine and the kind of warmth that hugs the soul. ● The mainland is close – offering a change from the sedate Jumby life. THE LOWS ● No golf course. ● No nightlife.

● The only way on and off the island is by boat. ● Jealousy towards the homeowners! ● having to leave.

V arun S harma is the host of I nside L uxury Travel – a television show on Travel C hannel that f ocuses on high-end travel. H is new venture C ulinary Travels ( www.culinarytravelswithvarunsharma. com) starts airing later this year.

15/07/2013 12:59

Wraith unveiled THE

44-79_AsianWealthSummer13.indd 74

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:59

OnTheRoad ROllS-ROYCE hAS PRESENTED ThE WORlD WITh ThE WRAITh, the most powerful Rolls-Royce in history. The hallmark Rolls-Royce attributes of luxury, refinement and handcraftsmanship, combine with the world’s pinnacle super-luxury marq ue, and just a hint of the noir. “Today we launch the ultimate gentlemen’s gran turismo, a car that embodies the spirit of Charles Stewart Rolls,” said Torsten Mü ller-Ö tvö s, CEO Rolls-Royce Motor Cars, at the car’s world launch at the Geneva Motor Show in March. “The most powerful Rolls-Royce in history, Wraith promises the

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 75

sense of adventure and speed that drove our founding forefather. But of course, Wraith’s starting point is luxury, refinement and q uality, traits that remain as important to Rolls-Royce customers today as they were more than a century ago.” In profile, Wraith’s sweeping fastback design gives the car its uniq ue character. Bold lines, tension in the panels and a raked rear screen evoke the image of a world class athlete poised in the starting blocks. Further expression of dynamic intent can be seen in Wraith’s deeply recessed grille, wide rear track and dramatic two-tone presentation.

15/07/2013 12:59

44-79_AsianWealthSummer13.indd 76

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:59

Coach doors open to reveal a luxury interior complete with softest Phantomgrade leathers and expanses of wood called Canadel Panelling. Named after the famous cove in the South of France where Sir henry Royce and his design and engineering teams spent their winters, this contemporary and tactile finish sweeps through the interior, cosseting four occupants in a space bathed in light and warmth. The interior ambiance is complemented by Starlight headliner, a bespoke feature available beyond Phantom family cars for the first time. A total of 1,340 fibre optic lamps are handwoven into the roof lining to give the impression of a glittering, starry night sky. Performance delivers on the promise of Wraith’s styling. Power delivery is effortless, but dramatic, thanks to a V12 engine married to 8-speed automatic Z F transmission. From 1,500 rpm 800 Nm of torq ue is available, while a wide rear track, shorter wheelbase and lower roof height further contribute to the most powerful, involving driving experience of any Rolls-Royce in history. The car’s suspension has also been tuned to minimise body roll and discreetly amplify feedback when cornering; while steering weight is heavier at high speeds and lighter at low speeds adding to the spirited drive. however, Wraith is no GT bruiser. Agility improvements have been achieved with absolutely no compromise to the sensation of riding on a bed of air. Satellite Aided Transmission (SAT) uses GPS data to see beyond what the driver sees; it anticipates his next move based on location and current driving style, then selects the most appropriate gear for the terrain ahead. Corners, motorway junctions and roundabouts are all anticipated in advance meaning Wraith is constantly poised to deliver on its promise of performance. A more polished, effortless driving experience and even better response brings a new, more dynamic dimension to the famous Rolls-Royce trait, waftability. For over a century a Rolls-Royce motor car has featured technologies designed to support occupants discreetly, delivering a peerless driving experience

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 77

The Wraith combines class and power

epitomised by the term ‘effortlessness’. In every Rolls-Royce these assist the driver when called upon, but are prepared to return without fuss to the background when no longer req uired. Advances in mechanical and electrical technology deliver systems like head-up display, adaptive headlights and Wraith’s keyless opening boot. But improvements in connectivity have taken the humanmachine interface to a new level of sophistication, a suite of aids that could be likened to a contemporary on-board valet. Voice activation commands, for example, come with a one-touch call button located on the steering wheel. A destination no longer req uires manual input from a navigation menu and route

assistance begins immediately, on-screen and via audio guidance following a voice command such as “navigate to Piccadilly in london.” Additional improvements in communications come in the design and functionality of the elegant Spirit of Ecstasy Rotary Controller. This allows navigation through on-screen functions using a touch pad that features pinch and pull functionality to echo smart phone usage. letters can also be ‘drawn’ onto the pad by hand rather than by scrolling through a series of available characters on-screen. Wraith will be priced at € 245,000. Further pricing details in all markets will be revealed later in the year. First deliveries of Wraith will be made to customers in the final quarter of 2013.

15/07/2013 12:59

CHIVAS â&#x20AC;&#x201C; SPONSORING THE EVENTS SECTION OF AWM

The magic of mixology With summer almost upon us, try a new cocktail that might hit the spot on those long, light evenings.

44-79_AsianWealthSummer13.indd 78

A s i a n We a l t h M a g . c o . u k

15/07/2013 12:59

Events

SPEYSIDE SHRUB

RECIPE

AS WOMEN CONTINuE TO DEVElOP A lARGER FOOTPRINT WIThIN BuSINESS, so too do they join business celebrations, and the world of luxury whisky that has traditionally been reserved for their male counterparts. Whisky is typically enjoyed on the rocks, however, Chivas luxury blended scotch whisky has championed the recent revival of whisky cocktails, allowing men and women alike to enjoy fine aged whisky in a contemporary way. In order to match the exquisite floral flavours of Chivas 1 , the brand has been working closely with revered craftsmen from around the world to develop luxurious cocktails that engage the senses. Chef Atul Kocchar, owner of Benares restaurant in Mayfair and the first Indian chef to be awarded two Michelin stars, joined forces with Chivas to explore the possibilities of aroma. More than 75% of what you taste actually comes from your sense of smell, and for female palates less accustomed to the taste of neat whisky; Atul’s creation is particularly compelling. Specialists in food and drink rely on

A s i a n We a l t h M a g . c o . u k

44-79_AsianWealthSummer13.indd 79

A fruit shrub is like a polished garnet, a small but mighty reminder of summer. As little as a teaspoon diluted with soda, champagne, or whisky positively sings. ● 40ml CHIVAS 18 ● 30ML RASPBERRY SHRUB* ● 60ML SODA

thousands of olfactory receptors, developing a deep understanding of scents and fragrances that evoke memories and stimulate the senses. Atul applies these principles not only in his cooking but to the drinks he serves. utilising the Benares bespoke Chivas 18 cocktail trolley; he translates the key notes and aromas found in his cuisine into elegant cocktails to be enjoyed alongside exq uisite food at his iconic london restaurant.

*Fruit Berry Shrub 400g fresh raspberries, 200ml organic cider vinegar, 400g white sugar. Add all ingredients to a mason jar. Muddle and shake vigorously. Rest in a cool place for four days, shaking every day. Muslin strain out solids and add additional sugar to taste, bottle and refrigerate.

METHOD Stir raspberry shrub and Chivas 18 over ice and strain into a tall glass. Top with soda and serve. Close your eyes and dream of summer. This recipe can be enjoyed with raspberries or blackberries.

15/07/2013 12:59

A STAR STUDDED NIGHT THE ASIAN AWARDS A DREAM EVENING for even the most determined autograph hunter, this yearâ&#x20AC;&#x2122;s Asian Awards did not disappoint in star q uality. The third Asian Awards, now extended to include a pan-Asian honours list, celebrated the achievements of Sir Ben Kingsley, Nicole Scherzinger, Kamui Kobayashi, Adi Godrej, Jiang Jinq uing, hanif Khureishi and hollywood legend Bruce lee at The Grosvenor house hotel in london. lord Sebastian Coe once again hosted the evening, which included entertainment from soul singer Beverley Knight who performed for a room full of A-list guests, including Colin Jackson, Philip Treacy, Christian louboutin and James Caan. The ceremony was opened by The Asian Awards founder, Paul Sagoo, followed by a speech by Chancellor of the Excheq uer George Osborne MP, who praised the awards and congratulated the outstanding achievements of the winners.

80-100_AsianWealthSummer13.indd 80

The coveted Fellowship Award went to Sir Ben Kingsley who collected the award for his outstanding five decade career, which has seen the 69-year-old pick up many awards in the film industry, including an Oscar for his portrayal of Gandhi. Bruce lee was honoured with the prestigious Founders Award, for his impact and influence on western cinema, and also to mark the 40th anniversary of his death. his wife, linda lee attended to receive the award. Indian industrialist and chairman of The Godrej Group, Adi Godrej picked up the Entrepreneur of the Year award; the Business leader of the Year award went to the current chairman of the Industrial and Commercial Bank of China, Jiang Jianging. Philanthropist of the Year went to Narayana Murthy, co-founder of Infosys and Social Entrepreneur of the Year was awarded to Masa Kogure, founder of Table for Two, which aims to end hunger in Africa.

A s i a n We a l t h M a g . c o . u k

15/07/2013 13:14

Events

IMAGES: ASIAN AWARDS / PRINCESINGH.CO.UK

7 1 (L-R) Preeya Kalidas and Nina Wadia; 2 (L-R) Lord Sebastian Coe, Sir Ben Kingsley and Paul Sagoo; 3 Linda Lee Cadwell â&#x20AC;&#x201C; Accepting the Founders Awards on behalf of her late husband Bruce Lee 4 Mitch Winehouse; 5 Monty Panesar (middle) with guests; 6 Neeru Bhandari and Deena Uppal; 7 (L-R) Elen Rivas, Preeya

Kalidas, Mayank Patel, Tasmin Lucia Khan, Beverly Knight and Kate Walsh; 8 The award trophies; 9 (L-R) Srini Kovvurri, Nina Naustdal and Ruhena Kovvuri; 10 Asian Awards at the Grosvenor House London; 11 (L-R) Lord Sebastian Coe and George Osborne; 12 Adi Godrej (Entrepreneur of the Year); 13 Liam Thomas Blackwell (middle in gold) with guests

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 81

15/07/2013 13:14

Event Design | Decor | Production

MEVENTS.CO.UK

80-100_AsianWealthSummer13.indd 82

15/07/2013 13:14

Mistique Events is one of the UKâ&#x20AC;&#x2122;s leading creative event companies. Specialising in event design, decor and production. Our services range from Lighting, draping, staging, AV displays to complete event management. Our range of services are designed to tailor make special events from start to finish, meeting particular requirements and budgets without compromise. From an intimate celebration to a themed banquet for thousands, we are passionate and dedicated to creating a truly unique experience that will take your breath away... in fact, the only limit is your imagination...

To arrange a meeting please contact our sales team on 0208 664 1133. Alternatively visit our interactive website at mevents.co.uk

80-100_AsianWealthSummer13.indd 83

15/07/2013 13:14

80-100_AsianWealthSummer13.indd 84

15/07/2013 13:14

Events

LIST OF INFLUENCE The world’s first Top 100 Most Influential Asians list was launched at the Asian Awards, unveiling President of China, Xi Jinqping in top spot, followed by Indian leader, Sonia Gandhi, Vice-Premier of China, Le Keqiang, Indian Prime Minister, Manmohan Singh and Rahul Gandhi, who is widely tipped to be India’s next Prime Minister. Asian Awards founder Paul Sagoo said: “Countless hours of research and deliberation went into creating this list and I am confident it will become a definitive guide of measuring influence among those of Asian origin.”

3 1 Narayana Murthy (Winner of Philanthropist of the Year); 2 Paul Sagoo with Caroline Jackson Levy; 3 Message from PM David Cameron; 4 Illy Jaffar (middle) with guests; 5 (L-R) Kiss FM’s DJ Neev with Kiran Sharma; 6 (L-R) Lord Sebastian Coe, James Caan and Paul Sagoo

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 85

15/07/2013 13:14

We offer professional, independent, affordable services that focus on supporting businesses in London. Over 100 FREE networking events each year FREE legal and HR advice FREE business advice surgery FREE meeting space Discounts on a range of business products and services Plus our Special Interest Groups including our Asian Business Association (ABA) For more information please T: +44 (0)20 7203 1881, E: membersales@londonchamber.co.uk or visit londonchamber.co.uk/aba

80-100_AsianWealthSummer13.indd 86

15/07/2013 13:14

Events

THE WINNERS IN FULL ● FELLOWSHIP AWARD Sir Ben Kingsley ● FOUNDERS AWARD Bruce Lee ● OUTSTANDING ACHIEVEMENT IN CINEMA Anupam Kher ● OUTSTANDING ACHIEVEMENT IN ART Hanif Kureishi CBE ● OUTSTANDING ACHIEVEMENT IN MUSIC Nicole Scherzinger ● OUTSTANDING ACHIEVEMENT IN TELEVISION Nina Wadia ● ENTREPRENEUR OF THE YEAR Adi Godrej ● BUSINESS LEADER OF THE YEAR Jiang Jianging ● OUTSTANDING ACHIEVEMENT IN SCIENCE Ajay Bhatt ● OUTSTANDING ACHIEVEMENT IN SPORT Kamui Kobayashi ● PHILANTHROPIST OF THE YEAR Narayana Murthy ● SOCIAL ENTREPRENEUR OF THE YEAR Masa Kogure ● OUTSTANDING CONTRIBUTION TO SUSTAINABILITY Ravi Ruia

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 87

1 Asian Award hostesses; 2 Baroness Sandip Verma; 3 Beverly Knight performed with Shin of DCS; 4 Colin Jackson; 5 (L-R) Sunny Ahuja, Paul Sagoo and Reena Ranger Ahuja; 6 Peter André; 7 (L-R) Nihal Arthanayake and Hanif Kureishi (Winner of Outstanding Achievement in the Arts)

15/07/2013 13:14

INSPIRATIONAL, ASPIRATIONAL, SENSATIONAL: ASIAN WOMEN OF ACHIEVEMENT AWARDS A lEADING GlOBAl IMMIGRATION expert was one of 13 women recognised for their outstanding careers at the Asian Women of Achievement Awards in May. The event was attended by guests including Awards patron Cherie Blair, Princess Badiya bint El hassan, Secretary of State for Culture, Media and Sport, Maria Miller MP and the Duchess of York Sarah Ferguson. Sue Kukadia, director of global immigration at Ernst & Young, was presented with the RBS AWA Chairman’s Award, the Awards’ most prestigious accolade. Sue was recognised for her inspirational professional achievements in building E& Y’s immigration offering to a world-class practice. hers is also an inspirational personal journey. Born with Spina Bifida, Sue spent the first 1 years of her life in and out of hospital, undergoing more than 80 operations. The judges were wowed by her ability to overcome all the obstacles thrown in front of her and described her as “a role model not just for other women, or Asian women, but also for people with disabilities” . Taking home the Entrepreneurial Asian Woman of Achievement Award was Sipra Deb. After overcoming the tragic murder of her father, and leaving her career as a molecular biologist, Sipra launched her Sheffield-based family play centre, The Play Arena,

80-100_AsianWealthSummer13.indd 88

with the hope of creating a space where whole families can enjoy time together. The judges were humbled by Sipra’s desire to change the way families interact and described her business as “hugely influential for communities across the country”. Ishrat Bano took the Professional Asian Woman of Achievement Award for her contributions to science as a postdoctoral researcher at the university of Cambridge. Born in Pakistan, and initially discouraged from gaining an education, Ishrat has created a foundation to help other girls from her home town gain access to university. Founded by Pinky lilani OBE in 1999, and held in association with The Royal Bank of Scotland, the Awards are to recognise the contribution of Asian women to Britain’s economy and society. Pinky Lilani said: “There is a growing confidence, positivity and youth about the new generation of Asian women achievers in Britain. “When I started the Asian Women of Achievement Awards in 1999, Asian women often worked away from the mainstream, accomplishing in their local communities, in niche industries, and a long way from the spotlight. Today, Asian women occupy positions of influence and power at the heart of British business, politics and society.”

A s i a n We a l t h M a g . c o . u k

15/07/2013 13:14

Events

Images of guests, speakers, nominees and winners at the Asian Women of Achievements Awards 2013 courtesy of errolljones.co.uk

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 89

15/07/2013 13:14

80-100_AsianWealthSummer13.indd 90 AW 57-92.indd 86

15/07/2013 28/09/2012 13:14 01:30

012 01:30

Events

THE WINNERS ● THE YOUNG ASIAN WOMAN OF ACHIEVEMENT - Sanju Pal, Accenture consultant and founder of RISE, who founded a charity at the age of 26 to help underprivileged kids in India through citizenship activities in the UK. ● THE ASIAN WOMAN OF ACHIEVEMENT IN ARTS & CULTURE - Joint winners, Lolita Chakrabarti, actress & writer, and Shalini Bhalla, creative director and founder, Just Jhoom!, for turning an art form into a very successful business. ● THE ASIAN WOMAN OF ACHIEVEMENT IN BUSINESS Grace Wang, managing director, JP Morgan for triumphing in a male dominated industry. ● THE ASIAN WOMAN OF ACHIEVEMENT IN SPORT - Monica Thandi, chairperson and founder, Netball Development Trust works to introduce sports to children across rural parts of Africa and India. ● THE ASIAN WOMAN OF ACHIEVEMENT IN MEDIA - Joint winners, Ravinder Bhogal, broadcaster and writer and Kalpna Woolf, head of production, BBC, for her incredible contribution to BBC’s operations in Bristol.

Images of guests, speakers, nominees and winners at the Asian Women of Achievements Awards 2013 - courtesy of errolljones.co.uk

● THE ASIAN WOMAN OF ACHIEVEMENT IN PUBLIC SERVICE - Tab Ahmad, founder and managing Director, EmployAbility, for her work in helping disabled students move from education to employment. ● THE SOCIAL & HUMANITARIAN ASIAN WOMAN OF ACHIEVEMENT - Malini Mehra, founder, Centre for Social Markets, for her pioneering work on sustainability and corporate responsibility. ● THE ASIAN WOMEN OF ACHIEVEMENT’S COMMUNITY AWARD - The Home Office for working to change the perception of the civil service

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 91

15/07/2013 13:14

The Sethi Partnership Solicitors

‘Together we are in partnership with our clients’ Proprietor and Partner Ritu Sethi Author of “Having it all NOW” book on work life balance.

Services - Commercial & Residential

- All Immigration Matters

- Conveyancing & Leases

- Employment Law

- Matrimonial, Divorce, Childcare & Crime

- Business Start-Up advice

- Probate, Wills & Affairs of the Elderly

- Commercial Litigation & Landlord and Tenant matters

- Personal Injury & Medical Negligence The Barn House, 38 Meadow Way, Eastcote, Ruislip, HA4 8TB | T: 0208 866 6464 | E: info@sethi.co.uk

www.sethi.co.uk

80-100_AsianWealthSummer13.indd 92

15/07/2013 13:14

Events

PRATHAM UK Indian fashion designer Payal Jain made her UK collection debut at an exclusive fundraiser at Le Meredian on 24th April. It was hosted in aid of Pratham, Indiaâ&#x20AC;&#x2122;s largest education NGO that works to improve learning levels among underprivileged children. The star-studded afternoon was hosted by Tasmin Lucia Khan, and saw Bollywood celebrity Poonam Dhillon, and comedian Sanjeev Bhaskar pledge their support.

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 93

15/07/2013 13:14

LINKS LEGAL S O L I C I T O R S

We’ve been helping thousands with the law, how can we help you?

ACCREDITED MEMBERS OF THE LAW SOCIETY’S CONVEYANCING QUALITY SCHEME 42 Redbridge Lane East, Ilford, Essex, IG4 5EX | Tel: 0208 551 0999 | Fax: 0208 551 2979 | Email: info@linkslegal.co.uk

WWW.LINKSLEGAL.CO.UK THE MARK OF EXCELLENCE FOR THE HOME BUYING PROCESS.

80-100_AsianWealthSummer13.indd 94

15/07/2013 13:14

Events

1 The British Indian Awards held at St Johns Hotel in Birmingham; 2 MP Keith Vaz; 3 AWMs

Ash Krishnan presenting award for Entrepreneur of the Year; 4 Event hosted by Sunny and Shay Grewal

THE BRITISH INDIAN AWARDS The inaugural British Indian Awards took place on 17th May 2013, in Birmingham. The evening honoured the success and achievements of Britain’s Indian individuals, groups and business people. The night was one of recognition and celebration, which highlighted the significant role that people of Indian origin play in the UK. Arbinder Chatwal, head of India Advisory Services at BDO, the sponsor for the evening, said: “It’s

1 Guests in attendance; 2 (L-R) Reena Ranger Ahuja and Mona Remtulla – Founders of Women Empowered; 3 Panel of speakers and champions from the event

important that we take the time to recognise the achievements of the Indian community in Britain today.” As well as recognising the achievements of Indian men and women at the forefront of their communities and industries, the event also raised money for the official charity partners Pratham UK, a charity for children in India. To see who won what, visit http://thediversityawards.info/ britishindian/

WOMEN EMPOWERED

Under the high glass ceiling at Bright Courtyard Club in Baker Street, Women Empowered (WE) celebrated its first birthday with an event focused on image, self-confidence and perception. More than 140 guests came to the event, to hear the experiences and advice of actress Nina Wadia, entrepreneur, former model and TV presenter Sadia Siddiqui, and BBC Asian Network and Radio 1 DJ Nihal Arthanayake. Dr Kamel Hothi of Lloyds Banking Group opened the lively discussion, which was accompanied by enabling partners Art of Living Foundation and Lisa Akesson, which hold courses in self-confidence and personal development.

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 95

15/07/2013 13:14

AW 57-92.indd 67 80-100_AsianWealthSummer13.indd 96

28/09/2012 13:14 01:29 15/07/2013

12 01:29

Events 1 AWMs Jo Payne interviews Aishwarya Rai Bachchan; 2 Her majesty the Queen; 3 AWMs Editor Jo Payne; 4 Prize giving ceremony of the Kings Stand Stakes, with Katrina Jones, Brand Director Longines UK, Aishwarya Rai Bachchan and JuanCarlos Capelli, Longines VP; 5 Aishwarya Rai Bachchan (in Kruszynska dress and Philip Treacy hat)

ROYAL ASCOT In June, the luxury watchmaker Longines invited AWM to enjoy a day in the Royal Enclosure at the legendary Royal Ascot. On top, we had the opportunity to interview Bollywood leading lady and Longines ambassador of elegance Aishwarya Rai Bachchan. Read the full interview with the lovely Ashwarya in the next issue of AWM, when she talks brands, business and legacy. Flat racing is an important part of Longines’ brand heritage and is now in its seventh year as official timekeeper for Royal Ascot. There are few sporting events that can boast a history as prestigious, with Queen Anne instigating the first horse race at Ascot as far as back 1711. Today, three centuries later, there are more than 500 horses entered for the thirty races that are keenly followed by the 300,000 spectators at the course. This year’s race was particularly special as the Queen’s horse, Estimate, won the Gold Cup in front of a 62,000 strong crowd, giving the Queen her biggest Ascot win in more than 60 years.

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 97

15/07/2013 13:14

2ND ANNUAL

IN ASSOCIATION WITH

ASIAN FOOTBALL AWARDS Celebrating the very best of UK Asian talent in football - both on and off the field

8th October 2013 Wembley Stadium

ORGANISED BY

SUPPORTED BY

CHARITY PARTNER MEDIA PARTNERS

www.asianfootballawards.co.uk @AFootballAwards AsianFootballAwards #AFA2013 Sponsorship packages available

SECURE YOUR TICKETS TODAY:

Contact: simon@crossculturalmedia.com / alan@crossculturalmedia.com

+44 (0) 1737 833713

80-100_AsianWealthSummer13.indd 98 AFA A4 Advert.indd 1

15/07/2013 13:15 21/03/2013 10:12

2013 10:12

UpcomingEvents ● LONDON CHAMBERS OF COMMERCE – ASIAN BUSINESS ASSOCIATION DINNER Guest Speaker Boris Johnson, Mayor of London Date: 10 September 2013 Venue: Grange St Paul’s Hotel, London The Asian Business Association (ABA) Dinner brings together guests from a range of industries and is the premier gathering in the Asian business calendar. Open to Asian and non-Asian businesses, this year’s annual dinner will take place on Tuesday 10 September at the stunning five star Grange St Paul’s Hotel and the ABA is delighted to welcome Boris Johnson, Mayor of London as the guest speaker. Up to 450 guests will attend this event from a variety of industry sectors including professional services, IT, marketing, media, property, leisure and tourism, recruitment and training, transport and logistics and importers and exporters. Rub shoulders with key figures from business, central and local government, arts and media, high commissioners, life peers and many top Asian entrepreneurs. For more information contact: Jenny Crouch, Event Manger, E: jcrouch@londonchamber.co.uk T: +44 (0)20 7203 1874

● PRATHAM GALA BALL Date: 28th September 2013 Venue: Grosvenor Hotel (London) Pratham, which means ‘First’ in Hindi, was founded in Mumbai by UNICEF in 1994 to help provide basic literacy to India’s 100 million illiterate children. Pratham has now reached over 35 million children in 22 Indian states. Pratham this year holds its annual charity gala ball at The Grosvenor Hotel on 28th September. The gala celebrates ‘100 years of Indian cinema with a fashion show from Manish Malhotra and top Bollywood stars. The gala is not only one of the parties of the year, but also provides instant access to London’s South Asian

A s i a n We a l t h M a g . c o . u k

80-100_AsianWealthSummer13.indd 99

business elite who regularly attend. For more information www.pratham.org.uk E: alex@pratham.org.uk T: 0207 368 3396

● CITY HINDUS NETWORK AND UK-INDIA BUSINESS COUNCIL DIWALI DINNER Date: Friday 25th October 2013 Venue: House of Lords Dining Room The CHN and UKIBC will be hosting Diwali for the first time at the House of Lords, hosted by Lord Dolar Popat and Jitesh Gadhia, Senior Managing Director at Blackstone, with 120 guests from both networks. The focus of the event will be showcasing the CHN’s phenomenal growth over the past year and will be an opportunity for you to meet with the seniormost Hindus in the City. For more information: www.cityhindusnetwork.org.uk E: info@cityhindusnetwork.org.uk

● KPMG – ANNUAL ASIAN FESTIVAL DINNER 2013 BY INVITATION ONLY Date: 29th October 2013 Venue: Jumeirah Carlton Tower (London) KPMG will celebrate its 10th Asian Festival Dinner later this year. Guests will include over 200 of the most prominent members of the Asian Community in the UK coming together to celebrate Eid and Diwali. The dinner, which is a key event in the KPMG calendar, will take place in London.

● THE SIKH AWARDS Date: (October 2013) Exact date TBC Venue: TBC, London Brainchild of Navdeep Singh Bansal, founder of The Sikh Directory media organisation, the awards recognized the special contribution Sikhs have made worldwide in the fields of business, sport, entertainment, charity, media, service and education. For more information: www.sikhawards.com E: info@sikhawards.com

● THE ASIAN WHO’S WHO AWARDS Date: 25th November 2013 Venue: The Dorchester (London) Since 1987, the Asian Who’s Who has chosen the ‘Asian of the Year’ award to recognise and honour the outstanding contribution by an individual to the Asian community. This coveted award has become well established and respected amongst the community and the press. The award ceremony itself takes place at the annual book launch. For more information www.asianwhoswho.com T: (0)20 8550 3745

● THE SCOTTISH ASIAN BUSINESS AWARDS Date: (December 2013) Exact date TBC Venue: TBC The Scottish Asian Business Awards hosted by Oceanic Consulting, recognise the success and achievements of Scotland’s Asian business men and women. The event is now in its 8th year and has become a highlight of the Scottish Business calendar. It is attended by the biggest names in Scottish business and politics, this year will be no exception. For more information: www.theasianbusinessawards.info/ scotland/

● THE ASIAN AWARDS Date: Spring 2014 – Official date TBC Venue: The Grosvenor House Hotel (London) Having previously celebrated the achievements of individuals of South Asian origin only, the event will now include nominees from across the Asian continent, considering those with origins in China, Japan, Korea, Malaysia, Indonesia, Singapore and other East Asian countries for the trophies. For more information : www.theasianawards.com

99 15/07/2013 13:15

AdvertisersIndex Advertisement

Asian Football Awards

Banham Group

British Asian Trust

Cartier

IFC, 1

Chivas Regal

14, 15

Currencies Direct

Digimax

Educate for Life

Eye Jogia Photography

Grange Hotels

Haathee Group

28 ,29

Khubsoorat Collection

34, 35, 48

KJ West One

KPMG

Lexus

Links Legal

London Chambers ABA IBC, 86 Longines

May Fair Hotel

Meridian Audio

Mistique Events

82, 83

National Bank of Punjab

Net Jets

Patek Philippe

OBC

Phil Bourne Photography

Pinnacle Advisory Services

Porsche UK

4, 5

Santoshi Designs

SecretSales.com

The Sethi Partnership

TiE UK

100

Trident Insurance

Unitech Group

Vertis Aviation

52, 53

100 80-100_AsianWealthSummer13.indd 100

A s i a n We a l t h M a g . c o . u k

15/07/2013 13:15

With guest speaker

On Tuesday 10 September 2013, 7.00pm -11.30pm At Grange St Paulâ&#x20AC;&#x2122;s Hotel, 10 Godliman Street, London EC4V 5AJ

Prices start from ÂŁ99 per person + VAT For more information, please visit londonchamber.co.uk/events or T: +44 (0)20 7203 1874 Sponsors

Media Partner

AW_CoverSummer2013.indd 3

12/07/2013 16:43

AW_CoverSummer2013.indd 4

12/07/2013 16:43