B.B Global FZE started its journey in 2016 from Umm Al Quwain Fee Trade Zone. Mrinal K Bairagi is the founder of the company. He had 20 years of experience in plastic processing Industry in India.
There was a tremendous growing demand of plastic granules, virgin as well as recycled, in India. Gulf has always been the major source of plastic raw materials for the Asia. Further there has been a tremendous increase of industrial activity in UAE particularly plastic industry. UAE has started substituting all its import of plastic finished goods as plenty of raw material were available at a cheaper price.
Hence there was availability of plenty of plastic waste from the factories. B.B Global quickly grabbed the opportunity. It started collecting plastic wastes from several plastic companies across UAE. All these wastes were processed into exportable format and exported to India.
UAE is full opportunity in terms of international trading. Biggest advantage was zero direct and indirect tax. Although VAT and corporate tax has recently been introduced but still it is one of the lowest in the world. Free zone companies can still avoid corporate tax subject to fulfillment of certain conditions.
Mr.Ashok Narayanan, a good friend of Mrinal, is having 40 years of experience in cashew, was dealing in raw cashew nut business from India. He realized that operating from UAE can multiply the business. Finally Ashok joined hands with Mrinal and started Raw Cashew Nut (RCN) import from West Africa. The business started growing due to two main reason..1. Ease of banking and 2. Ease of handling logistics.
Once RCN business stabilized, company started looking to grow vertically. Another value added product of Cashew Kernel was introduced in the product portfolio. Dubai being the major distribution centre of Persian gulf, lot of traders from dry fruit market were identified as potential buyers.
Due to proximity of the traders, marketing was relatively easy. Traders basically want consistent quality and quick resolution of issues. With sustained effort, kernel market was penetrated. Now company is hopeful of multiplying its Cashew Kernel business in coming years. With the boost of kernel business turn over crossed AED 50M land mark in the last season.
It may be reiterated again that UAE is the land of opportunity.One can very easily take additional license at a nominal cost within 24 hours. Company is now in a process of recruiting capable human resources to establish BB Global into the IT industry.
For aspiring entrepreneurs, BB Global suggest that UAQ free zone is one of the best location to start your journey. One need not have to bother about the support system before and after opening of a business entity. In the past free zones had the benefit of hassle free opening at a nominal cost with 100% ownership.
Now with the changing scenario, Free zones have become further attractive. Several business activity may stay beyond the purview of corporate tax. Once free zones were preferred for SME sector. But now it has substantial advantage for big labour intensive manufacturing companies over main land due to cheaper visa cost and flexible labour policy.
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