I think the business environment in New Zealand is very transparent and that motivated us to take the calculated risk involved in starting a business. We had the savings to buy a first home, but we chose to use that to start a business first instead. We didn't see it as a vehicle only to make money, but also to grow something more long term and create employment opportunities for other families to give them a sense of belonging and achievement.
What are some of the major challenges you've faced as an immigrant entrepreneur?
As a first generation immigrant entrepreneur the challenge of gaining trust in the business community is the biggest hurdle. The biggest challenge we faced initially and to an extent still do is having the references and networking behind our business name when we approach other businesses - whether it's for a sales contract, distribution channels, partnerships or so on.
After almost a year of meeting different business we were advised to be a part of specific business community support groups that specialise in business networking. Our business has benefitted in the last six months from being a member of the Auckland Chamber of Commerce and several BNI chapters. With Chamber support we've streamlined a lot of our HR processes and are now working on the governance side of our business, and next year we'll be taking Chamber support to open an overseas office.
We've also found BNI chapters are the best place to network with local businesses.
On the other hand, what do you think are some of the advantages you have as an immigrant entrepreneur and how have you tried to capitalise on these?
Coming from India we had worked in a very competitive market. Those years of experience worked to our advantage to continue working untiringly in New Zealand. People often refrain from starting a business in a new country out of fear of taking a risk in a new land. But our experience is it's relatively transparent and easier to take that risk and start a business here if you have an idea.
Also in India we are always culturally measured through comparisons across social groups. Starting fresh in New Zealand allowed us to take the risk, get compared with no one socially, identify the opportunity and still settle our families into a new life.
Lastly, particularly in New Zealand there aren't the bureaucracies there are in India, so the simplicity of setting up a business is very conducive to taking the risk to start something new. Unlike in many other big economies, there is no corruption in New Zealand, which for a new immigrant entrepreneur is the biggest motivator, because everyone is given equal opportunity and treatment everywhere.
What advice would you have for other immigrants looking to set up a business in New Zealand?
In setting up a business in a new country I think it's of vital importance to have a business partner who can stand by you through all the highs and lows, and be your mentor and a second set of eyes. I personally think new migrants starting businesses would have a greater chance of success if they had a business partner to share the load.
And finally, I'd just says believe in your idea, be passionate about it, have patience and don't lose focus.
Coming up in Your Business: I've been hearing about a few interesting local jewellery brands lately and it's got me thinking, what does it take to build a small business in this area, particularly if you're taking your brand offshore? If you've got a story to tell, drop me a note: nzhsmallbusiness@gmail.com.
