International Business made by by Benny Steinmetz
Setting up an international business requires a lot of documentation, adherence to international business laws and doing feasibility study. But above all, it requires vision, will and ability. There are few countries in the world that have as many companies doing international business as the USA. In a country like Israel, companies doing international business are few and far between. One of the names that come on the list of these international business companies is Benny Steinmetz Group. Started in 1940, the Benny Steinmetz Group is a true international company.
The present company was started way back in 1940 as Steinmetz Business Group. The company then was solely into the mining and trading of diamonds. It had one office in Tel Aviv from where the entire business was conducted. The owner of the company was the father of Benny Steinmetz. When Benny Steinmetz joined the company in 1978, he immediately set about planning an international presence for the company and diversifying the business worldwide. His immense business and investment vision was the tool he had and he made full use of it.
After establishing his father’s company as the leading diamond dealer in Israel, Benny Steinmetz started making ventures abroad. He expanded the business by setting up offices in places like Antwerp, Chicago, Geneva, Johannesburg, Mumbai, Namibia and New York. The name of the company also changed to Benny Steinmetz Group. As the locations grew so did the amount of business. Benny Steinmetz Group now started dealing with high quality diamonds that were procured from diamonds mined in their own mines as well as procured from some of the international diamond dealers like DeBeers.
Benny Steinmetz also realized that to truly establish an international presence he needed to create a footprint in the online world. His first venture was to buy some stake in diamond.com, a website through which he started selling diamonds online. To attract customers, he started schemes like the 30 day money back policy, monthly installment scheme and free delivery for purchases beyond $250. With focus on quality as the backbone of his business, Benny Steinmetz reached out to loyal customers located all over the world. Later on, he strengthened his online presence by buying a controlling share in Tucows, one of the largest online gaming portals based out of Canada.
From diamonds, the Benny Steinmetz Group now ventured into other areas like capital markets, real estate and natural resources. Subsidiary companies like BSG Resources Limited, BSG Capital Markets and Five Mounts Properties were established.
Benny Steinmetz is now recognized as one of the largest international business houses in Israel. Benny Steinmetz himself has made it to the Forbes’ richest businessmen list. He has truly become the face of Israel in the international business community.
