Key to launching business in emerging markets

By Deepak Kuntawala

When looking to expand a business to an international level, the main issue for many is establishing a reliable, accountable and affordable supply chain network. The task of trading in international markets without the right financial support and contacts can be daunting, add into this various risks, the demand risk, the supply disruption risk, the exchange rate. My company, DVK, also experienced this same difficulty.? DVK traces its roots back to the 1900?s when my grandfather began supplying blankets, articles of daily use, clothing to the British Army, locals and people working in mines in Zambia.

Quickly immersing himself in the textiles and clothing trade, he built a considerable business empire with his department store Kuntawala & Co, becoming one of Southern Africa?s major men?s department stores, importing goods from the UK, Germany and Europe. When we immigrated to the UK in the 1970s, inspired by my father, my brothers and I emulated his success by creating the London based Kayson?s trading. It was from there that I had my first taste of international trade and soon found myself working during school holidays etc. Then in 2000, as a fully-fledged member of the family business, it felt only proper to launch my own venture and DVK was launched.

DVK is engaged in high-growth global expansion and we recently launched our office in Saudi Arabia. The Middle East market is ripe for global business and we are exploring business opportunities with several deals in hand across Banking, Commodity Trading, Aviation, Sharia Financing, Private Equity, Infrastructure, Real Estate, Mining and Exportation.

Working abroad opens the door to far more networking possibilities and allows for different thinking and ways of working to interact. Working with different people and cultures around the world provides your business with an international flavour and ethos.

From doing business in Africa, I have learnt that patience and endurance are very much needed. It?s who you know not what you know.? 95% of my time in Africa has been establishing contacts and building my networks. Eventually the contacts that you make will help reap rewards.

The only real disadvantage would be the logistics of working globally; accounting for different time zones and languages, full preparation can definitely overcome these. Talking from experience, the key to establishing globally is to ensure companies have the right financial support network.

A successful entrepreneur is someone who relishes a challenge, I think many wrongly assume entrepreneurship is a quest to acquire money, it really isn?t. It is much more about entering into an adventure, challenging and pushing yourself to your limits. An entrepreneur needs to be confident, creative and have bags full of self-belief. My motto has always been ?global thinking, locally connected?. To take a business global you must have a truly international mindset but always be wary of the cultural differences. All these traits are essential for breaking into the emerging markets successfully.

Deepak Kuntawala, is founder of DVK, who was recently awarded the Global Entrepreneur of the Year at the TiE UK Awards in London.

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Source: http://www.vanguardngr.com/2013/04/key-to-launching-in-emerging-markets/

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