Success: Focus on Asian Entrepreneurs in the UK

03 May 2007

Asian entrepreneurs, including women, have been quietly generating a wealth of businesses in the UK. By Dr Spinder Dhaliwal*, lecturer in entrepreneurship, School of Management, University of Surrey.

We have lauded and praised the UK's Asian business sector for many years. Asian wealth has grown, prosperity has spread and we can focus more on the sectors where this has been delivered.

The past few years has seen a shift in activities away from traditional manufacturing companies towards newer, higher-tech, higher value companies in industries like pharmaceuticals.

Whilst the increase in wealth creation from the manufacturing sector has been relatively small, between them, the pharmaceutical, fashion and new economy sectors have seen wealth creation increase. For instance in the broad Asian 'rag' trade sector (comprising fashion and textiles) there is a major shift from basic, low-value activities such as sub-contracting towards more specialised high value fashion houses.

Sluggish economic growth, stock market uncertainty and question marks about the housing market provide the starkest of economic backdrops to this compendium of Asian success. Money may not buy happiness but Asian wealth creation can upgrade any economic despair so beautifully.

So who are these Asian wealth creators, these entrepreneurs whose businesses are bucking the economic trend?

Mike Jatania and his three brothers, George, Vin and Danny, are an excellent example of family unity. Their company Lornamead, which markets cosmetic, homecare and health products, has gone from strength to strength as they continue to add new brands to their portfolio which already consists of household brands such as Stergene fabric softener, Lipsil, and Body Mist. The brothers, who came to Britain from Uganda have built an impressive business by buying unwanted brands from the multinationals and re-launching them with a marketing push in new areas.

The contribution of the British Asian community to the resurgence of British fashion is exemplified by Tom Singh. In 1969 in Weymouth, with just £5,000 of borrowed capital, Tom set up his first fashion retail operation that was to become the well-known high street fashion chain, New Look. Tom Singh has managed to combine his entrepreneurial flair for creating a winning business with a winning business based on fashion, a true combination of style and substance.