Unruffled by growing challenges, a new breed of entrepreneurs is penetrating and shaping the urban marketplace, which has evolved dramatically over the past two decades.

Consolidated data or informed analysis is not available on most successful local startups that made it big from a humble beginning within a span of 15-20 years. Most of these companies are manned by a new class of business persons. Market analysts dropped names, but were reluctant to rank them on the basis of efficiency or growth due to limited information available.

The better known startups that were mentioned in most conversations on the subject were Khaadi, Lals, 14th Street Pizza, Xenith PR, Getz Pharma, N’eco’s, The Designers, Sab’s, Afeef Group, etc. They are said to have taken the standard bar higher and actually redefined it by tinkering with consumers’ tastes and preferences.

What distinguishes successful startups, however, seems to be their capability to develop and deliver products and services that reflects value that is above and beyond anything else available.

Experts believe the triumph of these enterprises is not accidental, but an outcome of passion for the craft and the drive to stay a step ahead of the market.

“It is difficult to attribute the rise of new companies to a single factor. I like to believe it is the right mix of multiple factors, including consistency, innovation, insight of the market and a pinch of luck that contributed to their positioning and growth,” Sayem Ali, an economist at the Standard Chartered Bank, commented over phone.

“The urban market is expanding at the rate of 7-10 per cent annually if you factor in population growth rate, intra country migration, rising purchasing capacity and growing urbanisation. It presents a viable opportunity to people with ideas based on the country’s rich resources,” he added.

A closer look at these ventures which have cropped up across varied segments reveals that unlike business groups that emerged post-partition on the national business horizon, they do not enjoy official patronage in the form of easy bank credit, subsidised electricity, duty-free import of raw materials or other government doleouts. They all made a humble start and grew on the strength of innovation in management and production processes.

“The new Pakistani customer is a lot more demanding, and a successful business person can simply not ignore this reality. One enters the market not just for a product, but for the experience, at least at the high end.”

“It matters how a product is packaged and presented. You cannot run a business in this country anymore without the support of a well groomed courteous sales team,” Lal Majid, founder of Lals, told Dawn in an exclusive interview at her outlet in Karachi.

The company, launched with seed money of a few thousand rupees about a decade and half back, today boosts of several millions in monthly turnover and a huge growing customer base that includes corporate buyers.

“Sometimes I wonder what proved to be more rewarding, the consistent innovation in the product or the investment in ambiance and training of sales staff,” she mused.

Mohsin Aziz — a prominent businessman of Khyber Pakhtunkhwa, who is associated with the provincial Board of Investment and Trade — said understanding of the market plays a decisive role in the fortunes of a company.

“The commitment of the person who is running the show is very important. Client loyalty can only be developed if the company starts giving them attention and special treatment to ensure their satisfaction,” he stressed.

“It is difficult to call it a trend, but the amazing success of some startup businesses, which are giving multinationals a run for their money, tells a tale of a transforming market,” owner of a leather garment firm, told Dawn.