Bankruptcy to prosperity: An expat's resilience to rebuild life abroad

Bangladesh

01 March, 2024, 10:50 am
Last modified: 01 March, 2024, 10:57 am
Faisal told TBS that he has provided employment opportunities to around 80 of his close relatives in the Netherlands.

Aprul Manik Faisal's journey from Sylhet to becoming a successful entrepreneur in the Netherlands has been far from straightforward. It has been marked by numerous challenges and setbacks.

In 1986, he left Bangladesh for the European country with empty hands with one of his uncles. He was just 15. 

Initially finding work at a restaurant, he dedicated himself to this job for the next four years.

Using his earnings, he eventually ventured into entrepreneurship, establishing his own restaurant in the country. Through determination and hard work, he expanded his enterprise, gradually establishing five additional restaurants over time.

From that point on, it seemed like a success story. Until disaster struck.

In 2000, the Dutch government seized all of Faisal's assets, including his restaurants, houses, and cars, on charges of tax evasion. Faisal was suddenly bankrupt.

However, he refused to accept his fate. Through willpower, dedication, and hard work, Faisal rebuilt his life from scratch once more. 

He established a new restaurant, which currently boasts an annual turnover of €1.3 million. Additionally, he now owns 25 houses in the Netherlands and England.

Last year alone, Faisal paid €200,000 in taxes to the Dutch government, showcasing his remarkable resilience and success despite the challenges he faced.

"I have come a long way through my own hard work and effort. Now, when I reflect on the harsh realities of my past, I find peace in my heart. It brings me great joy to be able to assist my relatives and the people in my community," he told The Business Standard.

Born in 1970 in Motiura village of Biyanibazar upazila of Sylhet, he is the seventh among nine children of his parents.

"After completing my SSC, I arrived in the Netherlands in 1986. Upon my arrival, I initially undertook a Dutch language course, followed by obtaining a 2-year management diploma. Concurrently with my studies, I worked part-time at a restaurant," he said.

"In 1990, I ventured into opening a small restaurant in the city of Hengelo, Netherlands, in collaboration with a friend. I am proud to be the first Bangladeshi to establish a sub-continental cuisine restaurant in this city," he added.

Faisal recounted that initially, the Dutch people did not come to eat in his restaurant. However, as they gradually warmed up to the cuisine, he began to receive positive responses, leading to a steady growth of his business.

"I expanded my restaurant business to other cities in the Netherlands, solely using the income generated from my existing establishments. By the time I turned 25, I owned five restaurants and had gained considerable recognition. Additionally, I acquired a house and cars during this period," he said.

Faisal told TBS that he has provided employment opportunities to around 80 of his close relatives in the Netherlands. Many of them have since established themselves in various European countries.

Everything was running smoothly until 2000. 

"However, due to a lack of awareness regarding Dutch business laws and regulations, negligence in tax payments, and poor restaurant management, the Dutch government seized all of his assets, including five restaurants, his house, and cars," he said.

"In an instant, I found myself bankrupt," he lamented.

With empty hands, he returned to Bangladesh and stayed there from 2000 to 2003, attempting to establish himself but facing limited success. Subsequently, he went to Scotland before eventually returning to the Netherlands once again.

In 2003, he embarked on restarting his restaurant business in the Netherlands with a loan from a Dutch bank, and fortune smiled upon him once more.

"I purchased a house in the Netherlands in 2005, renovated it, and began renting it out. Using the income from my restaurant and rental properties, I started acquiring a new house every year. Currently, I possess 24 houses in the Netherlands and one in England," he told TBS.

He is actively engaged in charitable endeavours in his hometown of Sylhet. Through his charity, BABAAID, around 70 underprivileged students in the Sylhet region receive support for their educational expenses. Additionally, the charity assists impoverished individuals in achieving self-reliance.

Beyond his business pursuits, Faisal is also involved in politics in the Netherlands. He has twice contested for councillor positions through association with a local political party but has yet to secure victory, although he garnered significant voter support.

Reflecting on his motivations, he said, "I have received much from the Netherlands in life. Now, I aim to give back to Dutch society. Engaging in politics allows me to contribute more to the Netherlands."

Faisal offers advice to those from Bangladesh aspiring to move to the Netherlands, "While the Netherlands heavily relies on engineering and information technology, there are also ample opportunities in the textile sector. For individuals seeking to establish businesses here, it is crucial to consider these factors.

"This country fosters a business-friendly environment, with the government offering diverse opportunities, including bank loans, to new entrepreneurs." 

He concluded, "If you aim to venture into entrepreneurship in any sector, it is essential to thoroughly grasp the laws, regulations, and policies of the country before commencing your endeavours." 

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.