Monday, 19th December , 2016, 11:20 pm,BDST
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Story of success, Way to success

।।Alimuzzaman harun।।

Nitol Motors started in 1981, when the company had a staff of four, husband and wife together. Abdul Matlub Ahmad himself reconditioned cars imported from Japan Selima Ahmad and his wife used to sell them. He started from there. After that Oxford graduate Abdul Matlub Ahmad need not to stop. Today Nitol-Niloy group have seven thousand people and three billion dollar company.


How he started, how a small company into a large company, he talked about it with us. He has given continuously new and emerging business proposals as well as the investment guidance. How he said to T M Jubayer. While at that time, Bangladesh news agency (BSS), a former senior reporter, editor of Alimuzzaman Harun assisted him.


I went to Oxford University in 1970 with a scholarship. I was admitted to the honors in Economics. In 1971 my father died. He was a judge of the High Court of East Pakistan. In 1976, I finished my Master. While I was read in Oxford, the country was new. Many countries call us for getting our service, but we thought our country was new and we have to build our country. Why should we leave the country? By thinking those things I come straight home after end of my study. Today, at the end of life, it seems that my chosen decision was right. I had to do business while I study. Because our father died. We have to earn our livelihood. I had to do business for survival.

What I have done in Business from the beginning which was through my understanding, I able to found product gap. Twe have brought products what is needs right now in this situation. At that point of time Business was the fulfillment of the product gap. My policy was if we see the shortage of garlic today than tomorrow I’ll import garlic and very next day it will present in the market. We have brought those several times of an air flight. Because it was a new country. We had seen shortage came out in many places. We used to meet shortage. For the consequences the stability of product prices would have gone down. As a result, we have gained and nation too. We had always target Crisis sells. Then we had gone to Tata as a joint manufacturer. Then we created a business expansion.

While you are moving towards in your life that doesn’t mean, your every decision will be right. However, keep in mind; we took money from the banks for doing business.  We may saw lose in Business but never forgive to bank. If I lose of money from the business, but I always return the bank’s loan by hook or by crook. Thus, if a bank becomes your friend, then business has no limit. You can get a loan of any amount. So keeping banks in hand we will need do business. Remember, you are the entrepreneur, not the bank. Bank lending you the money. Profit and loss involved with your bank than you cannot enrich your business. For that reason my advice is to keep the bank in right position. Do Your Business Within Your Limit. You must not have so embassies that you can’t make up your lose. There will be loss at the same time profit also in Business.



When we were younger our vision is to be elder. You have to dream. I tell the fresher to dream big. Bangladesh is a country where everything is possible when you see dream. From where we are now after 10 years later where we want to go. We need to build a road map for that and in the process of building that they are employees whom we called our partners; we need to keep a close look at them. If they are honest and happy to listen owner’s company’s growth will be much higher and the company will go far. So for that reason Employees is the most important topic for the company. Human resources are the most important thing than money and equipment.



For doing Business we had to face a lot of barriers. There are still barriers a lot. The integrity of the environment is the way you do business if you will need to deal with obstacles. Those who give Tax-vat they have to compete those who don’t. It is still prevailing. Those who believe straight-line formula they have to face much more difficult in Business to deal with the problem. I still say Honesty is the Best Policy. And I’m always going to tell new generation to earn more and will give VAT, Tax, and Income Tax. All the money of your own will be white. The business will be bigger. They will ride big cars. They will ride in helicopter. Walk with their heads high. Bangladesh is the land of rich people, they will prove it.


Advice for new traders is throughout my experience I had seen people lend money from the bank to buy Pajero car. This called diversification of Fund. They have to build Life. They will have to spend within the range. They must not to misuse the money. Then one day when they grow elder they will be able to anything they want. They will have to wait for that day. Spending all the bank’s up money isn’t right things to do.

I think my main source of success as an entrepreneur is of my strength, dream, and all the channel partners such as banks, government, and trade with whom I keep good relations with all of them. There must be consistency in the negotiation of the price, the negotiation of purchase. You have to do business in legal way.



I run the company in a system. The company does not run on the base of people. Company has created a system so that any people can run it if they want. Today our company is completely system-based, IT-based. The company’s full daily result come my hands. I suggest if I see any problem. I would rather advice never pressurize your family members when company grown big. Use Professional people to create a system based company. Than you can succeed. Today we learned from Tata 180-year-old company Tata however the number one company. Because they are completely system based.

My advice to young people, do not wait for a job rather go into business in small batches. The number of jobs in the country is much less in proportion to the job seeker. And that day may come when the job market does not exist. So youth should have thought from now on if not they get job, they will not remain unemployment. They will build small business. SME sector in order to encourage the government to fund 600 billion dollars, but there is no one to take those. Some of the small business entrepreneur to combine their money especially invests money on the Internet or IT can. Then after reaching a certain level, they can apply for government funds. In this case the mentality should not be rich overnight, which can see in Bangladesh. You first need to create an organization with difficulty. Now you’re unemployed, you do not have your lunch without Biryani but you should not be this kind of mentality. You will need to improve gradually and keep in mind that overnight no one can improve. Many factory owners saw little profit in our country the next day and bought a Pajero or any other expensive cars. It’s wrong. Young people should do first establish their business and sufficient resources to achieve. Then use extra money to comfort.



I want to invest abroad along with country. I appeal to the government of Bangladesh as the government opened the capital account.

Petrochemical industries are the best places for investment now days. There are in textile mill, shoe Leather Industry, diversification of export industries, food processing plants, plastic raw materials plant, Beat moon plant is a potential place for investment.

In “90 to 80” countries in there were creating an entrepreneurial class. After that new entrepreneurial class is not being made. The old entrepreneurs turn coming back for investment. Energy is the cause of coming new entrepreneurs. As long as Energy confirmation not comes the new entrepreneurs and foreign investment will effect. I’m going to invest but if I do not get power, then what should I will do? It’s an uncertainty. Government will come out of here. I have told the government that I will get electricity whenever I want it. They gave that. But the problem is there is no result of beneficial of it. In fact I cannot. The news spread in the market. On this, the electricity industry has not been made yet. There are cases where, due to lack of electricity or gas industry is sitting there for two years. Where the new entrepreneurs come from in that situation? That is why the reason. But you will see that our letter of credit increased by 12 percent. How increased, those who were actually able to raise that and a lot of new people who are coming and they are sitting.

Actually Bangladesh has reached the doorstep of the Industrial Revolution. Now the economy is the key to our economic zones. The Young Entrepreneurs and Young Workforce these are our tramp card. Doing business is the advantage of us, for us it is a great support for the government’s industrial policy. Industrial components which need to be essential, all we have which might not be there are a lot of other countries. But only obstacle is the uncertainty of energy. Only of the absence of vital support industrial revelation have been delayed.

It is natural that there will be a lot of barrier to industries. Today, electricity can be a problem, the problem may be working tomorrow, and the technical problems may arise. But we have to live with the problem. Despite these problems, we are one of the top exporting countries in the world garment industry. If it was the problem then this would not have been possible to achieve this. It means that it is not the main obstacle. Cost of production is only 15 per cent of the energy, and it can be fixed. But in other cases, there are a variety of facilities. For example, labor cost savings are 50 percent of our workers. In addition, in order to export to Europe and America is not the money to pay taxes. We have 22 percent of our savings in this case. It can be seen in terms of these issues, investment in Bangladesh is still one of the best in the world.

My advice to new entrepreneurs is to use your common sense. Work hard, but smartly. You have to investment in safety then discreetly. Ruthlessly avoid mistakes, but artistically. If you have a product or service that will fill the market gap, this is the best time for you to become an entrepreneur.



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December 2016
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  • Structures Rongpur power plant have been tilted
  • Northern district is not militant free: IGP
  • "We are the opposition party": Ershad
  • Another Bangladeshi killed by BSF in Kurigram
  • Police arrested 58 people from several upazilas
  • AL leader murdered in Natore
  • 123km human chain against militancy
  • Priest murder accused held in Sholakia: Police
  • 3 of a family electrocuted in Lalmonirhat
  • Truck, Covered Van collision kills 2 at Rupnagar

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