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Building a collective dream
REFAYET ULLAH MIRDHA
He could have fulfilled the dream of his student life of becoming a civil engineer or a doctor. He had even prepared for it, retaining both mathematics and biology in his array of subjects for the intermediate level of education.
He also got admitted to the Department of Civil Engineering at the Bangladesh University of Engineering and Technology (Buet) in Dhaka in 1963 after passing the Higher Secondary Certificate exam from Rajshahi Government College.
But this brilliant student did not join public service although there were ample opportunities in his life.
Instead, AKM Mosharraf Hussain, managing director of Standard Group, embarked on a journey to becoming a businessperson with his close friend and roommate at the then Quaid-e-Azam Hall of Buet.
Although his friend, Atiqur Rahman, took up a job as a government engineer, their journey as partners in business has continued for over 54 years.
Hussain was born on 14 September 1942 in a village called Burungi in Kazipur upazila under Sirajganj district.
The village no longer exists, having fallen victim to river erosion. But such calamities instilled in Hussain a fighting spirit.
While studying in class seven, he used to operate a rice huller, earning 10-12 paisa for processing every maund (around 37 kilogrammes) of paddy.
When he grew up and started a new phase in life after joining Buet, he realised a huge number of people in his village were poor and unemployed.
The urge to ensure a livelihood for such people prompted him to open up a business after graduation.
He and his friend started a construction business in 1969 and started employing people, mainly those who used to reside in his village and had been left without a home or livelihood due to river erosion.
Hussain had chosen the construction business due to the fact that he had some experience in it, having worked for some years with his elder brother, who was a contractor.
But as fate would have it, there was no scope for permanent employment in his construction business because he used to take on projects that had specific timeframes. This meant that once he completed a project, there was no scope to retain the workers.
In other words, if there was no new project, there was no employment for the workers.
So, instead of staying within his comfort zone, Hussain’s entrepreneurial mind sought to meet the challenge head-on.
In 1976, the two friends set up a factory to produce garments, which is very labour intensive, hence capable of generating employment on a large scale.
Primarily, the duo employed nearly 500 workers at a rented space at Kalabagan in Dhaka and started manufacturing formal shirts for export to the US.
Such were the humble beginnings for Hussain, who is now one of the leading garment exporters in the country alongside an outstanding textile entrepreneur.
He currently employs nearly 50,000 workers. Interestingly, 95 percent of them are from the Kazipur upazila and Sirajganj district.
He now makes an array of products -- primarily woven shirts, trousers, jackets, sweaters and accessories -- through a total of 20 factories.
The products are mainly sold to customers in Europe and the US, fetching annual revenues of nearly $500 million.
Those revenues took a hit when the pandemic arose and business underwent a bit of a decline, but the group fared comparatively better than the global supply chain, which suffered a massive jolt.
That his business is still going strong can be credited to his foresightedness on the need to diversify and expand his footprint in other sectors.
Hussain is also the chairman of International Standard University, a director of Jamuna Bank Limited and owner of Standard Insurance Limited.
During an interview with The Daily Star at his office at Mohakhali in Dhaka, Hussain said he was not currently planning any business expansion as the next generation was coming up to assume responsibility of the family business.
Hussain’s three sons and Atiqur’s two daughters are currently on the board of the group, learning the ins and outs of the business as directors.
Standard Group strictly maintains legal compliances as set by the government as well as the demanding compliances set by customers throughout the world, the group said on its website.
“At Standard Group we prioritise security and welfare by following rigorous safety compliance to ensure safety of all our employees and safeguard company resources. These safety regulations include fire safety, movement, worker health and safety and various others,” the group says on its website.
The group’s mission is to provide quality, price-competitive and timely readymade garments to the retail market, all produced under socially and environmentally responsible conditions.
Some of the group’s major corporate social responsibility (CSR) activities include helping communities in Kazipur upazila and Sirajganj district avail free training on manufacturing skills.
The group also provides financial services to the communities, including educational loans and medical loans. Throughout winter, warm clothing is distributed among financially insolvent residents of the villages.
Hussain has been named as the Business Person of the Year at the 21st Bangladesh Business Awards, hosted by DHL Express and The Daily Star at Sheraton Dhaka on October 17.