Saifur Rahman

UNDERSTANDING THE IMPORTANCE OF QUALITY CONTROL

Narayan Biswash showing some samples of his ground nuts to Mr. Faisal Mahmud from ACI Foods

Narayan Biswash showing some samples of his ground nuts to Mr. Faisal Mahmud from ACI Foods

Narayan Biswash is a veteran ground nut trader from Boultoli Bazaar, Goaplganj. He has been in this profession for the past 35 years. Prior to joining the Unnoty program, he had to remain satisfied by selling his products to other large arotders (wholesalers) in the Khulna region solely.

Getting access to large institutional buyers like PRAN, ACI or Bombay Sweets has always been Narayn’s dream.

But after becoming a participant at Unnoty, his dream turned into reality.

As part of Unnoty’s nine-month long training, we arranged a meetup session between the traders and representatives from large agro-processing conglomerates like PRAN, ACI Food and Partex Agro (Danish Consumer Food) in their premise.

Because of this, Narayan was able to learn from and interact with them – helping him understand exact product specifications and minimum quality standards required to get access to such companies. In the course of the program, Narayan was also able to exchange samples of his products with the respective companies.

All the firms were impressed by the quality of groundnut found in Boultoli bazar – including Narayan’s – and subsequently promised to arrange factory visits for the SMBs with the view to engage in business transaction.

At the end of the program, Narayan Biswash became emotional and even shed tears. His dream of meeting these large companies finally had come true, courtesy of Unnoty.

PRODUCT DIVERSIFICATION IN PRACTICE

Success Story 1- Al Hajj Shamsul Haque

 

Group: Jute Trader Group 1

Original Product: Raw Jute 

Area of Diversification: Mini Jute Mill, JDP

Amount of Investment: 1.5 Crore BDT

Source of Finance: Bank, Self

 

Al Hajj Shamsul Haque is a seasoned jute trader from Kanaipur Bazaar, Faridpur. In his region, he is a pioneer of raw jute trading in the local jute mills and has been in this industry for a long time. Although the business picked up in the 90s, it started stagnating in the early 21st century. He was looking for new ways to improve and even involved his son to the business so that they can expand it together.

After joining Unnoty, Mr. Haque came to know about product diversification and how it can help generate more revenue by diversifying portfolio.

Equipped with the knowledge, he met a bank with a plan to get financing for new business. He has successfully accumulated an amount of 1.5 crore taka and established a mini jute spinning mill. He has also involved his son to his business and hopes to expand his portfolio even more.

Al Hajj Shamsul Haque's Mini Jute Mill 

Al Hajj Shamsul Haque's Mini Jute Mill 

Success Story 2- Towhidul Islam (Prantojon) 

Organization: Prantojon

Original Product: Cucumber, Micro Credit

Area of Diversification: Pulse

Amount of Investment: 1.2 Crore BDT

 

Towhidul Islam works for a Non-Governmental Organization named Prantojon, which mainly operates throughout the southern region of the country. The organization he works for selected him as a representative of its own in the accelerator program, Unnoty. From this program, he fully came to understand the idea of designing a business model and the importance of capital in business expansion. With the right business mindset, he has helped his organization expand and diversify into a different business area. Recently he has helped his organization establish a Pulse mill and Jute mill with a substantial investment amount of 60 lac taka and currently actively working on building up the new businesses. His eagerness to business has helped him and his organization reach the next level.

A View Inside the Pulse Mill Towhidul Islam and Prantojon have Collaboratively Established 

A View Inside the Pulse Mill Towhidul Islam and Prantojon have Collaboratively Established 

Hasib Matubbar_Web.jpg

Success Story 3- Hasib Matubbar 

Group: Jute Trader Group 1

Original Product: Raw Jute 

Area of Diversification: Pulse

Amount of Investment: 1.5 Crore BDT

Source of Finance: Bank, Self

 

Hasib Matubbar is a young entrepreneur from Kanaipur Bazaar, Faridpur. He is involved in raw jute trading in the local jute mills. In one of the sessions by Unnoty, he came to know about product diversification and decided to work for diversifying his portfolio. With financial help from the bank, he took a brave attempt to invest a monumental amount of 1.5 crore taka to set up a pulse mill. Currently, he is actively working on strengthening his new business and running the old business simultaneously. In recent updates, he has bought covered vans as well in order to get involved in the transport business and expand the other businesses by leveraging the new business.  

Inside Hasib Matubbar's Pulse Processing Mill 

Inside Hasib Matubbar's Pulse Processing Mill 

Success Story 4- Tushar Khan 

Group: Jute Trader Group 1

Original Product: Raw Jute 

Area of Diversification: Pulse

Amount of Investment: 40 Lac BDT

Source of Finance: Bank, Self

 

Tushar Khan is an entrepreneur from Kanaipur Bazaar. Growing up, he saw his father working in the local business scenario. When he reached the age of 20, he started looking after his father’s business. It has been 10 years he is involved in the jute business. During this time, he has seen ups and downs of the business and despite having profit in many times, like many other local jute entrepreneurs, he had to face issues like high credit sale and loss. The performance of his business was not very consistent.

After participating in Unnoty, he realized one business cannot get an entrepreneur the maximum amount of performance and decided to expand his business through product diversification. During the formal training sessions of the accelerator, he manifested positive attitude towards business growth. With a hope to generate more revenue, he chose the path of product portfolio diversification and recently took a bold step of applying for a 35 lac taka loan from the bank. Subsequent to the approval of his application, he decided to add an amount of 5 lac taka of his own and established a pulse mill. The pulse mill is not fully functional yet, but as soon as the set up procedure is done, Tushar plans to start its operation.

Tushar Khan's Pulse Mill Under Construction 

Tushar Khan's Pulse Mill Under Construction 

Success Story 5- Enamul Khan 

Group: Jute Trader Group 1

Original Product: Raw Jute 

Area of Diversification: Transport, Net Bags

Amount of Investment: 22 Lac BDT

Source of Finance: Bank, Self

 

It has been a pretty long time since Enamul Khan (the son of Firoz Khan, a known face in the Faridpur jute trading scenario) started looking after his father’s business. As a young blood, he had this intention to explore various areas of businesses and take his father’s legacy to the next level. After joining the program, he felt inspired to start new ventures and diversify his product portfolio. Recently he has started two new businesses and running three businesses simultaneously with the support of his father. With a total investment amount of 22 lac taka, he started a business for net bags and stepped into transport business as well. Currently, he is working to help his new businesses grow and holds a plan to start a dairy farm as soon as the new businesses are in full swing.

Left- Enamul Khan in his New Office Space for Net Bag Business  Right- Truck Purchased by Enamul Khan for his New Transportation Business 

Left- Enamul Khan in his New Office Space for Net Bag Business 

Right- Truck Purchased by Enamul Khan for his New Transportation Business 

Success Story 6- Murad Sheikh 

Group: Jute Trader Group 1

Original Product: Raw Jute 

Area of Diversification: Cement 

Amount of Investment: 10 Lac BDT

Source of Finance: Bank, Self

 

In the accelerator, Murad Sheikh was a participant of Jute Trader Group 1. During the program, he showed his keen interest in diversification and shared his plans with one of the facilitators with a hope to get feedbacks. Murad, who is originally a raw jute trader wanted to stay in trading but decided to diverge a little bit. Rather than diversifying into agricultural products, he decided to explore a different area. Recently, he has started a new business of cement trading with an initial investment amount of 10 lac taka. Needless to say, his previous jute trading business is still in operation.

Murad Sheikh in his Newly Opened Cement Store 

Murad Sheikh in his Newly Opened Cement Store 

Success Story 7- Ashraful Hassan (SDC) 

Organization: Society Development Committee (SDC) 

Original Product: Microcredit, Pulse, Vegetables 

Area of Diversification: Organic Fertilizer, Rice Mill, Sanitary Napkin 

Amount of Investment: 40 Lakh BDT 

Ashraful Hassan is the Executive Director for Society Development Committee (SDC), a well-known Non-Governmental Organization which works in Faridpur and many other areas in the southern region and has a vast geographic outreach. He has represented his organization in the accelerator program and pitched in his valuable experience in different times to motivate the other participants.

He is successfully helping his organization reach new heights with more investments. With his active initiative, SDC has started three new businesses- an organic fertilizer business, rice business and sanitary napkin brand. For the first one, the investment amount is 35 lac. The organization invested 5 lac taka for the sanitary napkin brand and is actively involved in building a market for the brand. This act of diversification is helping the organization gain more achievements.

SDC's Rice Transportation 

SDC's Rice Transportation