A new group called the International Network for Asian Business (INAB) was launched in London last night with a panel discussion on whether the second generation of Asian entrepreneurs will have as much impact on the UK economy as the first. The evening, hosted by Anuj Chande, Partner at Grant Thornton, started with a presentation on role of strategic planning for Asian Family Businesses.

The opening speech by Anuj Chande was followed by an outline on 'Offshore Tax Planning' by Justin Scott of Isle-of-Man based advisers MeesPierson Intertrust and a presentation on 'Succession Planning within Asian Family Business' by John Tucker, Director of the International Centre for Families in Business at the University of Gloucestershire.

Attended by over 200 business guests, the networking event ended with a debate with a panel comprising: Dr Rami Ranger MBE, Chairman on SunOil, Tony Lit, Managing Director of Sunrise Radio, Atique Choudhury, Chairman of Yum Yums, Arjan Vekaria, Chairman of Vascroft Contractors and G S Gujaral, Chairman of Jasko India.

"INAB has been formed to genuinely meet the current needs of Asian Fmaily Owned Businesses" said event organiser Rupal Patel of The Orcha Group. "Asian family companies built their astounding financial success on personal contacts, family ties, and opportunistic expansion. INAB has been created to extend this personal network, providing links with like-minded individuals, academics as well as key service providers in order to maintain the momentum into the next generation. Through creating a forum for debating forthcoming challenges, spreading best practise, shared experience and knowledge – regionally, nationally and internationally, we hope to ensure the very best advice, information and opportunities are available to our network.

The rise of Asian success in the UK has indeed been a phenomenon. In London alone, there are over 39,00 Asian owned businesses with a total turnover approaching £60 billion in 2003/2004. They also account for over 300,000 jobs in the Capital.

More details about INAB events can be found at www.inab.biz