He is young, talented and an able successor of a family business that has been handed down to him. He explores newer avenues to expand, grow and redefine boundaries. BTW speaks to Mr. Riyadh Hassan Bokhowa, CEO, Newport Group S.P.C. and General Manager, Bokhowa Group to understand the vision and philosophy of such an enterprising gentleman.
How would you describe yourself and recall your childhood?
Childhood is a time when everybody is affected by incidents which remain with them during their entire lives. There were many events in my childhood as a child, I could not have asked for a better childhood. I was very enthusiastic always enjoyed outdoors. Growing up with my 2 siblings and ideal parents has been a great impact on my life.
Tell us about the Bokhowa Group WLL and the Newport Group SPC, and when and how they were founded, etc.
Bokhowa Group was founded by my father Mr. Hasan Bokhowa, our core business is construction and commercial trading. Being the Managing Director in Bokhowa Group, has been always been a learning curve, and has drastically transformed my business career. Newport Group, was founded by myself in 2007, where we started as a Procurement Consultants, and have expanded our business in real estate developments.
What were the initial challenges of establishing your enterprises?
Establishing a new enterprise is very challenging especially within the first 3 years. Starting from employment recruitment, establishing a business customer base, and dealing with competitors.
How have you overcome these challenges?
I have managed to overcome those challenges throughout my past experience and knowledge. Moreover we have introduced many business strategies in the competing market which also helped us to a great extent to become among one of the present competitors in the current market.
Is there any memorable experience as an entrepreneur that you would like to share with us?
It is probably during some weekends spending time in my office. I become so grateful of my ability to make a thought into a reality and to make what’s invisible, visible. It’s a great feeling.
What according to you are the essential qualities of a successful entrepreneur?
Discipline, Confidence, Strong people skills, Self-motivation, Iron will and Passion.
What is the most rewarding aspect of being an entrepreneur?
Freedom of Decision Making, Flexibility, Responsibility, Time Freedom, Able to spend more time with family.
Where do you see your companies in the next 5 years?
We hopefully wish to grow and expand within our related fields and branching out to other GCC Countries as well.
If you were to own another enterprise what would it be?
I have great passion for F&B, so I think definitely Restaurant business that I would like own.
What is your message to aspiring entrepreneurs of Bahrain?
Challenge yourself, believe in yourself, Have a vision, Take the risk, Plan for raising capital, Learn from mistakes, know your customer, spend wisely and understand your industry. If you decide that your priority is growth then you need to plan carefully if you are to succeed. Growth has its risks, but the right strategy can deliver stability, security and long-term profits. Once you’ve assessed the current strengths, weaknesses, opportunities and threats to your business and how well it’s equipped to handle them, you can move on to the next stage – building a strategy for growth.