Dunia Superstore (running as a small e-commerce retailer in Bangladesh) is demonstrating a world-changing innovation, a new kind of social business model (developed by myself) that aims to reduce poverty and the inequality gap in the ownership of the world-wealth in check.
The business plan has developed in such a way that the customers will be owners of the business through purchasing its products and services at market price and without any investment of their own pocket. For the purpose it shares 40% profit on sale-margin with the registered customers so that they can use that money as investment in getting ownership.
This is a continuous process –that means the number of owners of this business will increase continuously as the business grows. Therefore, it aims to replace the traditional business approach, where the number of owners remains the same.
On the contrary, the business is incorporated in the USA as Dunia Superstore, Inc. aiming to open an OUTLET in New York soon.
As the business is designed for the customers, it has great potential. It can be the number one retailer in the world in the future.
Tell us about yourself?
Basically I am a development specialist. I worked mainly in the charity sector throughout my career as an administrator. I worked as Executive Director of a charity namely Unnayan Uddog, and a research background NGO, Centre for Studies in Sustainable Development during 1993-2017. In the early period of my career, I have a lot of experience in implementing different types of development projects in the field.
I have a research background too. I have carried out many research projects mainly in various development fields. I have worked for the Embassy of Japan in Bangladesh as consultant, and fellow of the British Council in Dhaka, etc.
I obtained my university degree (MSS) in Mass Communication and Journalism from the University of Dhaka, Bangladesh in 1986.
Observing that the process of world development activities is not going in a perfect way particularly to reduce poverty and check the inequality gap in the ownership of the world-wealth, I am trying to pursue the process in a different way.
If you could go back in time a year or two, what piece of advice would you give yourself?
Make sure the investment first before starting the start-up.
What problem does your business solve?
Inequality gap between the rich and everyone else has been growing noticeably and rapidly by every major statistical measure (income, ownership etc.). It has been a headache to all – national governments, United Nations, World Bank, ADB, IMF, World Economic Forum, economists, policy makers, development workers, etc. Everybody is working or advising many ways to cut the trend – reducing the inequality gap, particularly gap between rich and poor (that has been an agenda of recent politics everywhere), but no tangible advancement is not evident till now. It is because, nobody is trying in depth to find out the real cause of inequality, and giving their suggestions thereafter.
On the contrary, the wealth has been concentrated in a few hands quickly and the number of billionaires is increasing continuously. There is a close link between these two factors. If maximum wealth is accumulated (owned) by few people how the gap between rich and poor will be reduced?
Now the pertinent question is, how the wealth is accumulated in the hands of few people? The answer is simple: THROUGH BUSINESS.
Latest statistics show that the world’s richest 26 people hold the same wealth as the poorest 50%, 4 billion (see The Irish Times, Jan 21, 2019, https://inequality.org and OXFAM reports). Few years back the number was 46 (The Guardian, Jan 22, 2018). It tells that inequality is widening very quickly.
In the given context, I have developed a New Social Business Model that pointed out the traditional approach of business as the root cause of the problem, and suggested a solution. In the traditional business approach, the number of owners remains the same if a business grows – who (entrepreneurs) start a business (usually a few). In the way we see that big businesses like AMAZON is owned by Jeff Bezos, Microsoft is owned by Bill Gates and his friend, Tesla Motors is owned by Elon Musk, Google is owned by Larry Page and his friend Sergey Brin, etc. They are accumulating big wealth through their businesses for themselves, therefore the inequality gap in ownership of the wealth is widening day by day.
Therefore, the New Social Business Model pursues a way through which the number of owners increases as business grows. It means, accumulated wealth by businesses will be given to many through a rational policy so that wealth will not be concentrated to a few hands which happens in the traditional business. Therefore, my social business model aims to reduce poverty and to keep the ever increasing extreme inequality gap in the ownership of the world wealth in check, so that the world can be a more just and fair place giving economic security to all (at least to the majority). Therefore, the core concept of the model is designed to make the business in social ways that will create new values for the world. (To know more please read the concept here: https://palsocialbusiness.blogspot.com).
What is the inspiration behind your business?
To do better something for the people so that the world can be a more just and fair place giving economic security to all (at least to the majority).
The problem I am trying to reduce poverty and to keep the ever increasing extreme inequality gap in the ownership of the world wealth in check.
What is your magic sauce?
In traditional business the number of owners remains the same if a business grows – who (entrepreneurs) start a business (usually a few). But the New Social Business Model pursues a way through which the number of owners increases continuously as business grows.
What is the plan for the next 5 years? What do you want to achieve?
Future Plan (next 5 years)
1. Reach to 100000 registered customers for e-commerce section in Bangladesh.
by Dec. 2024.
2. Achieve break-even point by Dec. 2024.
3. Open two physical Outlet by June 2024. One in Bangladesh and one in the USA (already incorporated in the USA; e-commerce and outlet will go simultaneously)
4. Incorporate in the UK by Dec. 2023.
5. Generate revenue: Looking for seed funds or business loan or investment.
6. Set up a Social Business Development Lab by Dec. 2024.
Our vision is to give the business a social character.
What is the biggest challenge you’ve faced so far?
Lack of seed funds or operating capital.
Did not get necessary investors in the starting of the start-up.
Perhaps, our innovation has been a problem as it wants to replace the traditional business approach. Most of the people think in the traditional way. They think that business should be run in the way what they are watching around. They can not this that the traditional business is creating the biggest problem of the world.
How do people get involved/buy into your vision?
People may join with us through registering on our site here: https://dunia1.com