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How do they do it? Kinda long + a slight vent

post #1 of 12
Thread Starter 
So I decided to watch some of the news from NZ today and watched a brief clip about the rich list. (dumb idea ) A Vietnamese refugee has joined the exclusive rich list because he is currently worth $60 Million.

Don is not the first to do this of course, lots of immigrants have and my question is "How do they do it?" His first business was a bakery. Now I have no idea how these so called "pennyless" immigrants and refugees are able to open businesses in NZ.

I know from personal experience that getting finance for anything is very difficult, especially large sums of money for a business adventure.
Working fulltime with an above average salary, but no assets to use as collateral, banks and other finance companies, simply will not touch you, end of story, and I'm a kiwi (New Zealander). So where do they get the money from? or this pennyless nonsense might just be propaganda so we don't question who comes into NZ. Its not just me, I see it all the time, all these exceptions get made for refugees and immigrants, whilst the kiwi's are struggling to make progress.

My older brother, he took an extremely long time to afford to buy a business contract, he spent the last 6mths at that job working 24/7 16hrs working and 8hrs oncall, averaging 2hrs sleep a day, because he couldn't afford any staff, to help him. He's not married and doesn't own his own house, yet his business just about went under, he sold it off to someone else. He left NZ and has got his life on track and stabilised.

My oldest brother, has been working for the same company for 13yrs, married and has 2 kids. Doesn't own his own place either. He gets by but there are no investments and so on.

I have many friends who have attempted to go into business an failed miserably. A few you could see it coming in the first week, that they would be out of business in a matter of months. All Kiwi's there.

OK to end here, this is what I see. New Zealanders are fleeing the country like rats off a sinking ship, so they can start fresh, abroad. The government complains that it can't keep NZers in NZ, but does nothing to try stop it.
Its the economy thats the problem, but having said that, the economy works in favour of immigrants and refugees.

Yes I'm an immigrant in Japan, but I haven't come here "pennyless" and I am still getting on my feet, but I don't see the possibility of getting rich, even though the Japanese economy is soooo much better than NZ.

ETA. It is a bit of jealousy that got me to start this thread. My main point which I'm not sure I got across is. How does a pennyless person suddenly have enough money to open a small business then a largish business then suddenly worth $60million?
I do take my hat off to them for their achievements, I would just like to here a success story about a kiwi for a change.
post #2 of 12
I don't know about New Zealand, but in Canada there are all kinds of programs and government grants (some don't have to be repaid) for new immigrants starting out, especially if that business is going to employ other people.

Also, it's not uncommon here to see 2 or 3 families living in the same house and pooling their resources together in order to buy a house or save money or buy a business etc.
post #3 of 12
I'd venture to guess that there are plenty of immigrants who struggle to make a living and plenty who fail in their businesses. You only hear about the ones that are wildly successful and they're the stories that make an impression, particularly because they're immigrants. I'd venture that the percentages of rich, poor, and in-between are roughly the same for natives and for immigrants. In other words, it's just probabilities. This guy who made $60 mil had all the breaks fall his way and your brother didn't. Just random. Some get lucky, some don't. You don't hear about the ones who don't.
post #4 of 12
Nearly everyone in the U.S. comes from an immigrant family. How many of us are rich? I think if anyone knew what the ultra rich did to obtain their wealth, we'd all be there with them.
post #5 of 12
Thread Starter 
Quote:
Originally Posted by Momofmany View Post
Nearly everyone in the U.S. comes from an immigrant family. How many of us are rich? I think if anyone knew what the ultra rich did to obtain their wealth, we'd all be there with them.
Yea thats true.

Just NZ is such a tiny country, with a pathetic economy.
post #6 of 12
well here,its called free money for legal immigrants.
Good luck getting it if you born here,white or male.
post #7 of 12
Thread Starter 
Quote:
Originally Posted by coaster View Post
I'd venture to guess that there are plenty of immigrants who struggle to make a living and plenty who fail in their businesses. You only hear about the ones that are wildly successful and they're the stories that make an impression, particularly because they're immigrants. I'd venture that the percentages of rich, poor, and in-between are roughly the same for natives and for immigrants. In other words, it's just probabilities. This guy who made $60 mil had all the breaks fall his way and your brother didn't. Just random. Some get lucky, some don't. You don't hear about the ones who don't.
Yes I guess a few might struggle and that particular one was wildly successful coz he got into the rich list, however it seems to be the norm that immigrants in NZ make a million or two.

If the government does help them out, I think they should help Kiwi's first and also fix a lot of the problems NZ has. It would be nice to here once that a kiwi went from rags to riches or even better a Maori, without the use of corruption.

Me, well I know if I was given funds to start a business it wouldn't be successful coz I hate shortcuts and so on. Thats beside the point.

I say good on him and don't forget to invest the $ back into the NZ economy.
post #8 of 12
At the end of the Vietnam War, the US took in numerous refugees. Initially, they were given housing assistance, food stamps and various non-profits helped with finding jobs and teaching them English. For the most part, these people worked hard, saved their money and made something of themselves. The whole family worked together, to get ahead.

Kudos, to anyone, who works hard and makes it. There's too much of a sense of entitlement, these days - some people think that the world OWES them a living and all of the goodies that they want.
post #9 of 12
Thread Starter 
Quote:
Originally Posted by katl8e View Post
Kudos, to anyone, who works hard and makes it. There's too much of a sense of entitlement, these days - some people think that the world OWES them a living and all of the goodies that they want.
I know (hope) that wasn't directed at me, apart from when I moved here I have always worked hard, and this has been and still is tough for me. I hate not working its the worst feeling.

Just wanna know even if they do get such little help, how do they turn it into such a big profit. Maybe I could learn a thing or 2
post #10 of 12
Quote:
Originally Posted by Momofmany View Post
Nearly everyone in the U.S. comes from an immigrant family. How many of us are rich? I think if anyone knew what the ultra rich did to obtain their wealth, we'd all be there with them.
In many cases, I don't think I'd be willing to do what they did to get their money.
post #11 of 12
There's some kind of financial backing, somewhere. Someone gave these people a financial push.

If all it took was working hard, many people would be rich.
post #12 of 12
Quote:
Originally Posted by DIEGO View Post
I know (hope) that wasn't directed at me, apart from when I moved here I have always worked hard, and this has been and still is tough for me. I hate not working its the worst feeling.

Just wanna know even if they do get such little help, how do they turn it into such a big profit. Maybe I could learn a thing or 2
No, it was aimed at the people in THIS country, who resent other people's making it, when THEY'RE too lazy to get off of their butts and help THEMSELVES.

In the late nineteenth century, Chinese laborers were brought here, to work on the railroads and in the mines. Many of them saved their money, worked hard and built family fortunes. A.P. Giannini (sp?) started the Bank of Italy, in a poor immigrant neighborhood, in San Francisco. THAT became Bank of America.

Isn't that WHY a lot of people immigrate - to gain a better life? The opportunites are there - one just has to find them and WORK to make it.
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