What struggles did you face as a Young Entrepreneur?
I faced numerous struggles as a young entrepreneur. Some of these included a lack of capital, discouragement from peers and reluctance to take a risk by giving up a secure salary. As any your entrepreneur, I did not have substantial equity and therefore found it difficult to raise capital. This ultimately effected my self-confidence in the early days.
Enlighten us about starting PINE in the UK in collaboration with PINE Pakistan?
I have been an advisor with PINE Pakistan for a number of years. I visited the PINE offices in Karachi and was really impressed with the professional set up as well as the infrastructure. I was really inspired by meeting the young entrepreneurs and in particular I was impressed with their enthusiasm, abilities and determination. The leadership role played by Erum, her professionalism, and her ability to create a very positive working environment led me to establish PINE UK.
What kind of support have you received from the business community/colleagues in the UK in order to make your venture successful?
I received positive advice and guidance from the business community. I have also made the most of great networking opportunities. Above all, I have worked hard, been transparent, loyal, diligent, and trustworthy to my clients over a period of 41 years. Intermediaries, such as bankers, accountants and wealth managers have provided great recommendations.
How will the collaboration between GSC and PINE work or support each other?
GSC is a well-established and highly regarded law firm in the city of London. Indeed, the firm is celebrating its 50th anniversary this year. It has an excellent network of contacts and connections and will provide a great platform and support to PINE UK. GSC and PINE can collaborate in many different ways and also learn from each other. PINE can provide further contacts and connections to GSC including young entrepreneurs. GSC can also provide learning and development skills to PINE students.
How is PINE working towards building and giving a platform to young entrepreneurs and small businesses?
PINE is providing a wide range of opportunities to young entrepreneurs and SMEs. These include education and training, introduction to funders, access to advisors as well as mentors.
What is the vision and mission of PINE UK?
PINE UK would like to become a pre-eminent incubator in the UK. It will assist your entrepreneurs in their personal development and empower the future of works, transforming business to socio-economic platforms. PINE UK would also like to become the international headquarters of PINE as it looks to expand into other regions of the world.
How different are the business practices in the UK in comparison to Pakistan?
In the UK, businesses have access to competitive funding, a good legal system, government support, grants and incentives. There are also a number of trade bodies as well as large corporates who help young businesses as part of the corporate and social responsibility campaigns. In contrast, in Pakistan, young businesses struggle and are often left without any support or guidance. There is also a lack of funding, education and training. Additionally, businesses struggle to find mentors, government help or support and also suffer from poor infrastructure and governance. Regular power outages are also a real issue.
What message do you have for the youth and emerging entrepreneurs?
My message for the youth and emerging entrepreneurs is firstly to come up with a viable business plan for their project. They should take time and do research to develop this even if it is a basic form. They need to work hard, be determined, and take proper legal and financial advice. They should make sure that their agreements are written and enforceable. They should know their industry well and be cautious but take calculated risks.
It is also very important to be honorable and reliable and build a good reputation for yourself and your business. They should not let anyone down and not make false promises. In my view, it is better to under promise and over deliver. Above all, they should not give up but remain focused and determined.
