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Dubai: Every chartered accountant is a potential billionaire, says CA-turned businessman
The BNW Developments chairman said he wanted to be an entrepreneur from a very young age, influenced by his father, who was also a businessman
- PUBLISHED: Sun 15 Dec 2024, 10:17 PM
Every chartered account is a potential billionaire because "we create billionaires", said Ankur Aggarwal, chairman and founder of BNW Developments, while speaking at the 42nd annual conference of The Institute of Chartered Accountants of India (ICAI) in Dubai.
“Chartered accountants are the combinations of risk managers, CEOs, CFO, CTOs and CMOs. Literally, we are everyone. We are a combination of practically every single post in our organisations."
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A chartered accountant by qualification, Aggarwal further said: "Whenever I think of hiring someone, I look for a chartered accountant. We never thought of ourselves. Nobody tells us to take the risk. Nobody can understand risk better than us. We know how much risk we can and should take. This is the difference between chartered accountants and entrepreneurs. If we can create wealth for others, why not create wealth for ourselves."
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He added that chartered accountants hold top positions in his company and that “they are managing better than me".
“Our bosses are less qualified academically. They had a legacy, coming from a rich family. For CA's, even after reading 5,000 books, taking 500 exams and spending numerous hours studying, working in a firm and sleeping on the floor, you're don't have any luxury and are working for someone less qualified.”
Entrepreneur from an early age
The BNW Developments chairman said he wanted to be an entrepreneur from a very young age, influenced by his father, who was also a businessman and trader.
“This thought of becoming an entrepreneur came to me because my father was a businessman and a trader. I decided I would not be doing any job so I grew up with this thought. I started doing business at a very early age by renting out a bicycle in the evening for Rs1 for an hour. I understood the principle at an early age.”
While sharing his journey, Ankur Aggarwal revealed that he borrowed Rs70,000 and started his chartered accountancy company.
“From 2011 to 2018, I started my practice. My annual collection was less than a crore rupees. I was living a life of dreams. People were coming to me and respecting me. I became a problem solver.”
Coming to Dubai
In 2019, Aggarwal came to Dubai to become an entrepreneur yet again.
“We always thought of that particular point when we should start the business. But we are scared of opting for anything which is out of our comfort zone. It is because we are not habitual of taking risks."
"I started brokerage and closed a chartered accountancy firm. I decide to pursue my dreams. At that time my capital was just Dh50,000. It took four months to hire one person and now we are a family of 400 individuals across 80 nationalities,” said the founder of BNW Developments.
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