{"id":18959,"date":"2019-06-09T16:16:56","date_gmt":"2019-06-09T13:16:56","guid":{"rendered":"https:\/\/www.ibtdi.com\/?p=18959"},"modified":"2019-06-09T04:27:14","modified_gmt":"2019-06-09T01:27:14","slug":"sokbal-singh-ahluwalia","status":"publish","type":"post","link":"https:\/\/www.ibtdi.com\/en\/sokbal-singh-ahluwalia\/","title":{"rendered":"Sukhpal Ahluwalia: The Billionaire Refugee"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.arabic.cnn.com\/sites\/default\/files\/styles\/sw_780\/public\/2018\/05\/29\/images\/171110114242-sukhpal-singh-ahluwalia-2-1100x619.jpg?itok=CYduWcdv\" alt=\"\u00d9\u0086\u00d8\u00aa\u00d9\u008a\u00d8\u00ac\u00d8\u00a9 \u00d8\u00a8\u00d8\u00ad\u00d8\u00ab \u00d8\u00a7\u00d9\u0084\u00d8\u00b5\u00d9\u0088\u00d8\u00b1 \u00d8\u00b9\u00d9\u0086 \u00d8\u00b3\u00d9\u0088\u00d9\u0083\u00d8\u00a8\u00d8\u00a7\u00d9\u0084 \u00d8\u00a3\u00d9\u0087\u00d9\u0084\u00d9\u0088\u00d8\u00a7\u00d9\u0084\u00d9\u008a\u00d8\u00a7\" width=\"661\" height=\"372\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">\u0627\u0644\u0627\u0633\u0645:<\/span> Sukhpal Singh Ahluwalia<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">\u0627\u0644\u0633\u0646:<\/span> 60 \u0639\u0627\u0645\u064b\u0627<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">\u0627\u0644\u062c\u0646\u0633\u064a\u0629:<\/span> British of Indian origin<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">Marital status:<\/span> Married with 3 children<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">\u0627\u0644\u0634\u0631\u0643\u0629:<\/span>\u00a0<\/strong>LKQ Corporation<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">Market value:<\/span> 13 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631<\/strong><\/span><\/p>\n<p>.<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">From life as a refugee to building a giant company with 89 locations, more than 10,000 employees, and a market value of around $13 billion\u2014that\u2019s an extraordinary story of <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">An extraordinary achievement for the Ugandan refugee of Indian origin, \u201cSukhpal Singh Ahluwalia,\u201d founder of Euro Car Parts, which he launched with a \u20ac5,000 loan. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">He later sold it after its spectacular success, joining the billionaire club.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\">\u0627\u0644\u0646\u0634\u0623\u0629<\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Sukhpal Singh Ahluwalia was born in Uganda in 1958 to parents of Indian descent. The former British colony was home to thousands of families like his, who <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">had migrated from South Asia to work on the railways and other infrastructure projects.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">At the age of 13, Ahluwalia was forced to flee his homeland with his parents in search of a new life in the United Kingdom in 1972. They spent an entire year in<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> shared accommodation, where he learned firsthand about the opportunities immigration could offer refugees.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Ahluwalia did not attend a British school. Instead, he took to the streets of Liverpool, putting his business skills and passion to work, and then decided to buy auto parts businesses <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Struggling car businesses in London.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\">Euro Car Parts<\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">In 1978, Ahluwalia founded his company, \u201cMotorway Spares,\u201d borrowing \u00a35,000 from his father and Barclays Bank to buy a car-parts shop <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">in Willesden, London. A year after opening, he renamed it \u201cEuro Car Parts\u201d and focused on cars <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u0627\u0644\u0623\u0648\u0631\u0648\u0628\u064a\u0629.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">In 1981, Ahluwalia opened a second branch, adding parts for BMW, Mercedes, Porsche and VW cars. The company then expanded <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">until it became the UK\u2019s leading supplier of spare parts, paints and equipment for cars and light commercial vehicles.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\">Dominvs property company<\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">In 2011, Ahluwalia founded a property company called Dominvs Group, which manages a portfolio worth more than \u00a3700 million. It later purchased and built <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Several British hotels, including Holiday Inn Manchester City Centre, Mercure Sheffield Parkway, Holiday Inn Darlington, and Holiday Inn Dumfries.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">The group also owns Paradise Street, Oxford; Ralph N.; Holiday Inn Express Aberdeen Airport; Crowne Plaza Aberdeen Airport; and Dixon\u2019s in <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Tower Bridge, London.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">In 2016, Ahluwalia invested in Mumbai-based electronic waste processing company EcoCentric Management, India, and then in <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">2017, made another investment in truck and trailer parts distributor Digraph Transport Supplies.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\">Euro Car Parts sales<\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">By 2011, his first company, Euro Car Parts, had grown to 3,500 employees across 89 locations, so he decided to sell it to LKQ for <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u00a3280 million.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">After the sale, Ahluwalia became CEO of LKQ Corporation\u2019s businesses in the UK, Ireland, and India, as well as a member of the <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">company\u2019s US board and chairman of the asset management group \u201cDomevance.\u201d<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">By 2018, the company had more than 300 branches across the UK and over 10,000 employees, with a market capitalization of more than <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">$13 billion.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>\u00a0\u0645\u0642\u0648\u0644\u0629 \u0634\u0647\u064a\u0631\u0629<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Commenting on Britain\u2019s efforts to reduce the number of refugees, Ahluwalia said: \u201cI believe immigration is the backbone of this country, and we must never forget that.\u201d<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>Lessons Learned:<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #ff6600;\">1 \u2013 Loan Financing:<\/span> Entrepreneurs can rely on simple loans to launch their own ventures and expand into the market. Ahluwalia turned to <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">two types of financing: funding from his family through his father, and bank financing.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #ff6600;\">2 \u2013 Creating Jobs:<\/span> Entrepreneurs don\u2019t stop at building their own ventures; they also seek to create jobs, which gives their work greater significance.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #ff6600;\">3 \u2013 Studying Market Details:<\/span> On<a href=\"https:\/\/www.ibtdi.com\/en\/5-tips-for-the-entrepreneur\/\"> Entrepreneur<\/a> Continuously improving himself, studying market details, and understanding what it takes to stay competitive.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #ff6600;\">4. Business Development:<\/span> Ahluwalia didn\u2019t stop at founding one company. He planned to expand and then acquire other companies to grow his wealth.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #ff6600;\">5. Diversifying Activities:<\/span> Ahluwalia invested his money in a range of unrelated ventures, from car spare parts to hotels and more. This is something<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> entrepreneurs should keep in mind: if one business faces difficulties, they can continue working in their other ventures.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>&nbsp; \u0627\u0644\u0627\u0633\u0645: \u0633\u0648\u0643\u0628\u0627\u0644 \u0633\u064a\u0646\u062c \u0623\u0647\u0644\u0648\u0627\u0644\u064a\u0627 \u0627\u0644\u0633\u0646: 60 \u0639\u0627\u0645\u064b\u0627 \u0627\u0644\u062c\u0646\u0633\u064a\u0629: \u0628\u0631\u064a\u0637\u0627\u0646\u064a \u0645\u0646 \u0623\u0635\u0644 \u0647\u0646\u062f\u064a \u0627\u0644\u062d\u0627\u0644\u0629 \u0627\u0644\u0627\u062c\u062a\u0645\u0627\u0639\u064a\u0629: \u0645\u062a\u0632\u0648\u062c \u0648\u0644\u062f\u064a\u06473 \u0623\u0648\u0644\u0627\u062f \u0627\u0644\u0634\u0631\u0643\u0629:\u00a0LKQ Corporation \u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0633\u0648\u0642\u064a\u0629: 13 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631 .<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":3,"featured_media":18960,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ibtdi_aa_focus_keyword":"","_ibtdi_aa_secondary_keywords":"","_ibtdi_aa_audience":"","_ibtdi_aa_tone":"","_ibtdi_aa_summary":"","_ibtdi_aa_reviewer_name":"","_ibtdi_aa_reviewer_bio":"","_ibtdi_aa_reviewer_url":"","_ibtdi_aa_reviewed_date":"","_ibtdi_aa_service_id":"","_ibtdi_aa_related_ids":"","_ibtdi_aa_human_reviewed":"","_ibtdi_aa_disable":"","_ibtdi_aa_disable_links":"","_ibtdi_aa_sources":"","_ibtdi_aa_update_notes":"","footnotes":""},"categories":[491],"tags":[19017,19018,19019,19020,779,19024,19022,19023,4988,19014,19015,19021,19016],"class_list":["post-18959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-491","tag-bmw","tag-mercedes","tag-porsche","tag-vw","tag-779","tag-19024","tag-19022","tag-19023","tag-4988","tag-19014","tag-19015","tag--dominvs-","tag-19016"],"_links":{"self":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts\/18959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/comments?post=18959"}],"version-history":[{"count":0,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts\/18959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/media\/18960"}],"wp:attachment":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/media?parent=18959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/categories?post=18959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/tags?post=18959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}