A Leicestershire business association has resolved its financial problems and is forging ahead with plans to entice new members. Leicestershire Asian Business Association has refinanced itself with help from four key members, including director Jaffer Kapasi (pictured).

Eighteen months ago, LABA was struggling to pay its six staff after moving to Lee Circle, Leicester.

Now, after refinancing with help from four key members, it said it has a clear strategy to support traditional members and initiatives to engage newer, younger ones.

Director Jaffer Kapasi said it had been a difficult time as LABA had taken its eye off its key objective - to support Asian businesses.

Despite having 400 on its books, only a quarter were actively involved.

Mr Kapasi said four of the major players in the Asian business community - himself, Jaspal Singh Minhas, Raja Mahal and Sukhdev Bansal - had come forward to buy the office building, ensuring financial security.

"We are now looking to rent part of the building to generate income and we are promoting membership."

Mr Kapasi said he had been surprised by the level of support for LABA given that the 18 months had been so difficult.

"Members of the Asian business community could have been forgiven for deserting us," he said.

"But they still see us as the first point of contact when looking for advice or setting up a business.

"We have had a high level of inquiries from financial institutions wanting to back members, and other ethnic trading associations around the UK inviting us to team up for seminars and conferences."

He said new members were one part of the equation LABA had identified as integral to its future.

"In the current financial market, we need to ensure we support our smaller businesses, which are struggling in the face of stiff competition from the giants," he said.

"Members in the traditional industries, such as textiles and engineering, are under pressure and we want to support them so they don't lose those skills."

Mr Kapasi said LABA was aware of the opportunity the 2012 London Olympics presented.

He said: "We want to make sure our members are up there tendering for contracts, but also fighting for their share of business from the city and the county council."

LABA is also looking at how it can improve trade links with the growing markets in Brazil, Russia, India and China.

"India has always invested a lot of money in the UK and we have had links with China, but we want to talk to Brazil and even Moscow as they present opportunities to members," Mr Kapasi said.

"The membership package is encouraging businesses to look at us with fresh eyes and the Asian business community is enthusiastic."

Source: This Is Leicestershire

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