TOP 100 ENTREPRENEURS: Enterprise Nation

If Britain is bursting with commercial energy while other economies are flatlining, we have our independent business-builders to thank. Philip Beresford names the best.

by Philip Beresford
Last Updated: 31 Aug 2010

Britain's entrepreneurs are the true heroes of the British economy.

They are the people flying the flag for business and giving us a future, and we laud them at MT in our first-ever listing of those we consider to be the Top 100 entrepreneurs of today.

The 100 (see table, pp40-43) are drawn from a wide range of businesses, from recruitment to concrete flooring by way of bras and anti-virus software.

Yet, for all their disparity, they have in the past five years created nearly 20,000 extra private-sector, taxpaying and above-the-board jobs that have helped to fund at least part of the huge increase in public spending. Today, they employ nearly 40,000 staff, so they have effectively doubled their workforce in that time. If the rest of British business could match that, unemployment would disappear at a stroke.

Leading the pack is Dinesh Dhamija, founder of the fast-growing ebookers travel oper- ation and living proof that there are survivors from the dot.com age who can indeed prosper. The other 99 are an extremely diverse group, demonstrating that there is no one face of British entrepreneurship.

Their ages range from 30 to 76, and the group is made up of men and women from across the UK, with widely differing backgrounds.

Collectively, they have created an extra £3 billion of sales over that five-year period, taking their sales to £4.7 billion, according to their latest annual reports (and this total is likely to have grown sharply since). These are not the fat cats of industry, paid for failure as well as success. True, they have valuable stakes in their businesses, totalling about £4.6 billion, but all the more reason for them to nurture what they have planted.

Our listed entrepreneurs do not run Britain's biggest businesses. We are interested here in tomorrow's Richard Bransons rather than today's.

With one or two exceptions, we've tried to restrict the turnover limit of the companies included to £100 million and they do not earn their place simply by virtue of fastest growth. What we have here is a cross-section of British business in terms of geography, industry, gender and ethnicity.

The only constant is that their businesses are all profitable or about to make impressive profits. We don't record the profit growth, though, preferring to measure how well they have developed sales and employment over the past five years. Yet we recognise that a dynamic business needs to make good and sustained profits. The dot.com meltdown of three years ago reminds us what happens if you neglect the bottom line.

So what does it take to belong to this elite group? The first thing to acknowledge is that it's a largely male list -79 of the 100 entrepreneurs are men. But proponents of more women in business need not despair: we've found 21 extraordinarily talented women, and the one-in-five ratio is far better than that to be found in the boardrooms of the FTSE 100 firms, where women are still rare. Moreover, there are more females in the younger reaches of the list - surely a sign that younger generations of women are embracing entrepreneurship.

Forty-five of the MT 100 are from London or the south-east, with the Midlands a distant second at 18 and the north-west third with 11. The south-east is actually under-represented here in terms of its economic weight in the British economy - which is no bad thing. It means that entrepreneurial talent is flourishing elsewhere and augurs well for a better- balanced shape to the British economy.

But what qualities stand out among our 100 entrepreneurs? They all possess three salient characteristics in varying degrees, whether they started a business or revitalised a longstanding family concern (we do not distinguish between them in terms of entrepreneurial activity). First, there's the ability to take a risk and court real financial disaster if all were to go wrong. For example, Peter Cruddas of CMC (number 3) was prepared to sink £30 million of his own money into developing a new financial trading software system that had been turned down by all the leading players in the business with much deeper pockets. As a result, his company is now well ahead in this field. Equally, Michael Clare (number 71) gave up a safe and secure job as an area manager and borrowed against his house to open the first Dreams retail outlet. Christian Rucker (number 32) gave up the glamour of Harpers & Queen for the insecurity of starting The White Company.

But our entrepreneurs were not stepping into the unknown. Their second quality is the insight to identify a gap in the market. Not for them the equivalent of opening a grocery store on a street where nine similar businesses are flourishing. They start, or adapt, a business that offers unique products or service. Sarah Tremellen (number 26) could not find a bra that was comfortable when she was pregnant and decided that the paucity of bras for larger women suggested a business opportunity. She launched the hugely successful Bravissimo, and her clever designs have kept her ahead of the established opposition. Given a Peugeot 205 to drive when his BMW was damaged, Richard Abel (number 12) saw an opportunity for supplying luxury car owners with a decent temporary replacement in the event of a crash.

Thus was born the successful Bristol & London Accident Management operation.

The third characteristic of our MT 100 personalities is their perseverance in achieving goals. It took Hamish Ogston (number 4) 10 years to move the CPP card protection operation into profit, but not once did he give up. For her part, Penny Streeter (number 13) stuck with the recruitment business even after the failure of her first foray into the field, and tried again with Ambition 24 - crucially, she'd learnt to control her cost base second time around.

Productivity improvement is another key strength of our Top 100. For while employment at their firms went up by about 100% in five years, output (as measured by turnover) rose 154%, a recipe for success that the rest of British business would surely wish to emulate. And yet our MT 100 have achieved this in the face of virtual indifference from the Bank of England's monetary policy committee, a Government that is constantly accused of creating layers of red tape and stealth taxes, and an economic climate in which overseas competition is more vicious than ever. Truly, the MT 100 and all those entrepreneurs who have not yet made it to this list are the real heroes.

PREMIER LEAGUE

The elite top 10 of our Top 100 entrepreneurs includes a retailer, a dot.com founder and a recycling specialist

1. DINESH DHAMIJA, 53 - ebookers

If he wore a skirt, Dinesh Dhamija reckons that more people would take notice of his fast-growing online travel group, ebookers. The level of public perception of ebookers is much less than its smaller rival, lastminute.com, where the 'Martha effect' of its glamorous founder, Ms Lane Fox, has resulted in acres more publicity. Still, Dhamija can draw on more than 20 years' experience in business and, as he says, 'there's no short cut to experience'.

Born in Australia the son of a diplomat, Dhamija lived in India, Mauritius, Afghanistan, Czechoslovakia and the Netherlands, but calls Britain home after moving here in 1968. He took a law degree (graduating with a third) at Cambridge, started out as a travel agent in 1979, when he rented an 80-sq-ft booth in Earls Court tube station. From this, he sold cheap air tickets to budget travellers, before launching the Flightbookers travel agency in 1983 - well before the internet had even been thought of.

It was not until 1997 that ebookers was launched as an in-house website for Flightbookers. It grew rapidly and was de-merged as a separate company in February 1999. After its flotation, ebookers continued to grow rapidly but was hit by the high-tech downturn and the collapse in travel following the outrages of 11 September. By then, ebookers had bought out its parent, Flightbookers, and its former customers migrated online to help the business grow. Despite the Sars outbreak and the Gulf War, both of which hit the travel trade, ebookers is growing fast, with turnover of £273 million in 2002 and on target for £1 billion this year.

New businesses are developed organically or acquired. Earlier this year, Travelbag, a long-haul specialist, was snapped up for £55 million and has been successfully integrated, with expected annualised cost savings of around £5 million. But perhaps the biggest star in the ebookers firmament is its Indian Business Process Outsourcing (BPO) facility in New Delhi.

Born of a need to reduce costs, the Indian operation's call-centre has expanded from about 600 staff to 2,000, and Dhamija is in talks to provide third-party work from the facility. What was a back-office function could become a separate profit centre. 'If we take on two clients the same size as ebookers, it could provide profits before tax of £8.5 million in 12 months,' he says - enough to make lastminute.com green with envy.

The success of ebookers has helped make Dhamija a wealthy man. His stake is now worth nearly £120 million, while past share sales and property easily take him to £140 million.

2. ANDREW TURNER, 45 - Central Trust

From a small London office, accountant Andrew Turner set up Central Trust in 1987 as a broker and lender of secured loans in the consumer finance sector. Now based in Norwich, the business is growing fast, with another 220 jobs due to be created over the next two years.

Its principal subsidiary is one of the largest independent finance brokers offering loans to UK homeowners, while other subsidiaries operate in the loan and mortgage packaging and telemarketing markets. Central Trust's profits and sales have surged on the back of the consumer borrowing spree of recent years, and in 2002 it made £18.7 million profit on £39.8 million sales. On these figures it is worth perhaps £100 million.

Earlier this year, Turner launched a new state-of-the art computer system, which he reckons will give Central Trust a competitive advantage. His goal is to make Central Trust (in which he has 100% of the shares) Britain's leading independent supplier of personal finance products. It's a demanding goal, but few would bet against the low-key accountant pulling it off.

3. PETER CRUDDAS, 50, CMC

Leaving Shoreditch Comprehensive at 15 to bring in money for his family, Peter Cruddas worked as a teleprinter typist for Western Union. He later worked as a telex operator in a bank dealing room, where he became so good at it that they let him do the trades. Soon he was working in commodity broking, but, at 35 and burnt out, he chucked it in to set up on his own as a foreign exchange consultant.

Currency Management Consultants took off in the first Gulf War in 1990, when it bought foreign exchange for Middle Eastern banks, which the larger British and American institutions were too nervous to deal with. CMC grew rapidly after that, when a software developer came to Cruddas with the idea of developing a real-time trading system - he had approached the big banks in vain. Cruddas poured £30m into its development; he now sells these products in lucrative markets such as China.

CMC also acts as a market-maker to clients in forex, derivatives and spread betting. There had been talk of a Nasdaq float in the late 1990s, but Cruddas will not take that route. From his Monaco base, he can easily commute to his London office to keep an eye on operations and he still owns all the company with his family. In 2002-03, CMC made £6.9 million profit on sales of £25.7 million in 2003, but that was after Cruddas took a £6.8 million salary.

With its track record, the firm is worth about £300 million. Cruddas reckons his Shoreditch schooling has helped. 'I've got one massive advantage over my peers in the City ... I'm streetwise. That's something you don't get at Eton or Harrow.'

4. HAMISH OGSTON, 55 - CPP Holdings

Sometimes, it is just sheer luck that can save a fortune, as Hamish Ogston well knows. Three years ago, unimpressed by the performance of his pension provider, he decided to switch pension fund managers. But after his policies had been turned into cash ready to go into new policies, Ogston hit a snag. Some documentation was missing and the transfer ground to a halt with the money in the bank. And there the situation remained - except that he cashed in right at the peak of the bull market. Had the money gone into a pension, it would now be worth half or less. 'I'd been saved by the assurance company's incompetence,' he says.

Ogston really does know about good service. The son of a dental surgeon, he tried his hand at a number of ventures after university before setting up the CPP Group in 1980. The York-based operation is a leading provider of what are termed assistance products and services throughout Europe, including Card Protection Plan, which provides credit and payment card protection to millions of card users worldwide; similar services exist for lost keys (Keycover) and mobile phone protection.

CPP now partners more than 300 leading consumer brands in the financial services, utilities, telecom and retail sectors. The group has a worldwide base of over 11.3 million customers. Ogston owns virtually all the business and slogged away from 1980 to 1990 as it made losses for the entire decade, refusing to give up. His reward: a business now valued by the City at around £375 million, with a £9.3 million profit on sales of £105.2 million last year. A float is likely this year when the market improves.

5= DR PETER LAMMER, 45 and DR JAN HRUSKA, 46 - Sophos

A new £32 million headquarters has just opened in Abingdon for Sophos - a sign that the battle against computer viruses is an unrelenting and booming business. With 20 million customers, Sophos is one of those classic niche high-tech businesses that Britain is so good at producing. The business dates back to when founders Jan Hruska and Peter Lammer met at Oxford, where they were both bright postgraduates.

They hit it off and in 1985 co-founded Sophos as a computer security software company. It was initially tough going and by 1987 they were considering either moving into importing crockery from Italy or trading coal and soda ash via Russian and Chinese contacts. But they decided to stick with it, and today Sophos is a world leader in anti-virus software. Two-thirds of FTSE 100 companies are protected by its products.

The Abingdon-based company is growing fast on the financial front too, with sales up 30% in 2002-03 to £41 million and profits up 24% to £12.1 million. The crockery industry's loss is clearly the high tech sector's gain. Hruska and Lammer have stakes worth more than £70 million apiece in the operation.

7. CHRIS DAWSON, 52 - CDS (Superstores International)

Former market trader Chris Dawson has been called 'Plymouth's very own deluxe Del Boy'. From trading in jackets, he settled down to open his first superstore in 1988. Today, CDS (Superstores International) has eight outlets selling everything from DIY products to household textiles. The business is expanding fast and made a profit of £3.8million on sales of £44.6 million in the year to January 2003.

There are more stores on the way, which will take the total to 13, and this should push up sales and profits sharply. On these figures, Dawson is worth perhaps £85 million.

8. GORDON SHIELDS, 55 - Shields Environmental Group

In 1979, Gordon Shields founded Shields Environmental, an Essex-based precious metals reclaiming and recycling group. It is best known for the Fonebank scheme, launched in 2002 to recycle old mobile phones. About 15 million are upgraded annually in the UK, equal to 1,500 tons of potentially hazardous landfill from the discarded phones. Fonebank is growing rapidly across Europe, and helped Shields Environmental to a £1.5 million profit on £26.3 million sales in 2001-02. It's easily a £30 million business, and is wholly owned by Shields and his family.

9. CHARLES WIGODER, 43 - Telecom Plus

A veteran of the telecom sector, Charles Wigoder qualified as a chartered accountant before becoming a City analyst. He set up Cellular Communications in 1988, later selling the renamed Peoples Phone to Vodafone in 1996 for £77 million. But Wigoder was too young to retire and immediately started up again with Telecom Plus, using many of his old team from Peoples Phone.

Based in north London, Telecom Plus has evolved from a telecom operator into a multi-utility firm, offering savings of up to £500 annually for domestic customers who switch to it for fixed phone, internet and mobile phone, gas and electricity services. Its flagship product, the Smart Box, is free and plugs into the phone socket, where it hunts out the best line rates. Wigoder has a £38 million stake in Telecom Plus. The company's sales surged from £32.7 million in 2001-02 to £58 million last year, when its customers subscribed for over 225,000 services (up 40% in a year).

10 DENYS SHORTT, 39 - DCS Europe

Denys Shortt grew up in India and East Africa, where his father was a tea estate manager. Educated in Britain, Shortt spent most of his time at school playing hockey, and from the age of 14 to 22 played for England in more than 100 international matches. On leaving school, he worked for the family business, a groceries wholesaler called Shakespeare Products, where he learnt his business skills. In 1994, Shortt set up his own venture, DCS Europe, which he has built into a leading distributor of health and beauty products.

He has also developed DCS brands called En-liven, En-visage and En-essence, which sell in Makro, Bewise and T&S Stores in the UK. DCS exports En brands to more than 45 countries around the world through its export division exportbrands.com. Shortt even moved into web content software after he found that internet solutions available for his online sales growth were expensive and poor, and has developed his own proprietary solution, Enable Software, which he markets to other retailers. Little wonder that over the past five years sales at DCS have zoomed from about £3 million to £89 million, making it one of the fastest growing firms in sales terms in MT's Top 100.

YOUNG GUNS

High-flyers who have achieved success by the age of 40 or under. Interestingly, the sector is dominated by women

13. PENNY STREETER, 36 - Ambition 24 Hours

Penny Streeter's first business went bust in 1991, forcing her to move into homeless accommodation as she had so little money. Since then, she has made a remarkable recovery. Streeter originally trained as a beauty therapist but went into the recruitment business instead. She flourished as a branch manager before deciding in 1989 to go it alone. Unfortunately, she moved her new business into expensive offices just before the recession struck. After the failure of this first business, Streeter briefly returned to South Africa, where she had been raised. She came back to Britain and moved again into the recruitment industry. This time around she did it differently, taking a small desk in the corner of a friend's office. With her mother's help, she worked alternate days so they could share childcare costs. At weekends, with money tight, they worked as DJs at children's parties. In 1996 they moved the business to the high street and changed the name to Ambition. The big break came when, aside from their normal financial services and secretarial recruitment, they were asked to supply care assistants for a nursing home. It was an untapped market. Streeter started training and supplying staff, often driving them to remote homes in Surrey to get them to work on time. Nursing homes need staff at any time of day or night, so the company operated 24 hours a day, renaming itself Ambition 24 Hours. The effort paid off. The Croydon-based operation now employs 150 people and last year had a turnover of £60 million.

Streeter has diversified into the social care sector and runs a locum service for doctors. She also plans to move into the private healthcare market.

20. BRENT HOBERMAN, 35 - lastminute.com

Brent Hoberman has been called 'nearly-famous', which suits him well. While all the publicity for the lastminute.com business has centred on his co-founder, Martha Lane Fox, Hoberman has quietly got on with running the business. It is just over five years since lastminute was born, offering a range of last-minute flight and holiday deals over the web. Its famous flotation in March 2000 at the height of the internet boom was marked by enormous publicity, but then the shares fell sharply as boom turned to crash. But unlike shoals of other internet start-ups, lastminute not only survived but is prospering. Its shares were floated at 380p and then sank to 18.75p, but have now made a remarkable recovery to around 230p. By keeping a tight rein on costs and growing by acquisition, lastminute is now close to making large profits, which is why we can include Hoberman and Lane Fox on this list. Indeed, with consolidation in the internet sector likely, lastminute is regarded as a likely acquisition target of leading American internet companies. That should boost Hoberman's bank balance beyond the current £47 million value of his stake.

24. MARTHA LANE FOX, 30 - lastminute.com

The real star of the internet boom, with appearances on Question Time and in virtually every paper during the flotation of lastminute.com, Martha Lane Fox has confounded the doubters who reckoned that the company would go the way of virtually every other internet start-up of the time. Today, the London-based holidays-to-flights operation is nearing real profitability and the shares are approaching the flotation price again on the back of some pretty solid takeover hopes. The daughter of an Oxford academic, Lane Fox has a £30 million fortune locked up in lastminute shares, making her one of London's most eligible girls about town. Having complained recently that 'my social life has suffered horribly as a result of my career - I normally get out of work at about midnight and am grumpy and tired', Lane Fox has since announced that she is leaving lastminute.com to pursue something different. Whatever she turns her hand to next, she is bound to be worth watching.

26= WILLIAM TINKLER, 40 - WA Developments

In 1987 William Tinkler started work as a joinery contractor with £500 capital. He later diversified into housebuilding and road maintenance.

But his big break came in 1997, when his company WA Developments moved into the railway business. Today, the Carlisle-based operation specialises in railway engineering and repairs, and it has invested in a £500,000 training centre covering everything from trackside safety to use of heavy machinery. In the past four years, turnover has rocketed from £3 million to £21 million. Sales will grow further as Tinkler has now turned his attention to roads again with the recent acquisition of Eddie Stobart, the famous haulier that comes complete with its own highly profitable fan club (a bigger money-spinner than the haulage operation proper).

26= SARAH TREMELLEN, 37 - Bravissimo

'Our goal is to make big-boobed women feel good about themselves,' declares Sarah Tremellen, founder of Leamington Spa-based Bravissimo. She set up the lingerie supplier in 1995 in her sitting room after failing to find bras big enough when she was pregnant. What started as a mail-order operation has expanded to include five retail outlets and an online shopping service.

In 2002, Bravissimo reported an £893,000 profit on sales of £10.8 million, thanks largely to a new range of colours and styles. As the Bravissimo website extols: 'Watch out as the lingerie drawers of Bravissimo girls become the envy of our flatter-chested sisters! From day one of Bravissimo, we have been overwhelmed by all your loyalty and support and we really couldn't have done this without you. So thank you for everything and cheers - here's to the next eight years of big boobs!' Nothing more to say.

32= CHRISTIAN RUCKER, 35 - The White Company

After studying fashion design, Christian Rucker's first job was as an assistant to wedding dress designer Anneliese Sharpe, where she sewed on buttons and made the coffee. She later joined Conde Nast Publications as a receptionist, moving to various jobs on its magazines. At Harpers & Queen, she rose to become assistant health and beauty editor. But she hankered after running her own business and in 1993 started The White Company, a specialist mail-order business selling white bed linen and towels. Rucker was advised by her sister-in-law and her husband, Nick, who runs the Charles Tyrwhitt shirt operation. With a local government grant and the sale of some shares left by her grandmother, Rucker was in business, operating initially from an attic room at home. It was nerve-wracking at first, but after a newspaper article appeared, she was swamped with orders and never looked back. In 2001-02, The White Company's sales reached just under £15 million.

37= JONATHAN BOWIE, 37 - Bowie-Castlebank

Glasgow-based Bowie-Castlebank was founded in 1865 when an ancestor of Jonathan Bowie, the current MD, started touring local factories with a wheelbarrow to collect clothes for washing. Today the firm operates nearly 600 outlets nationwide, including Munro Cleaners and Klick Photopoint. Takeovers have helped transform the company, where sales have rocketed from £35 million to £87 million over the past five years.

44= EMMA HARRISON, 40 - Action for Employment

After messing up her A-levels, Emma Harrison went to work in the health service. But after a year she enrolled on a two-year engineering course, which she finished in eight months, and then managed to talk her way onto a Bradford University engineering degree programme sponsored by British Steel. On graduating in 1987, Harrison decided that British Steel was no longer the place for her and went to run her father's small business training engineers. Four years later, she had built it into a £1 million concern. In 1991, Harrison left her father's business and started her own outsourcing operation, Action for Employment, or A4E. It outsources a wide variety of services from training, education, recruitment, administration and childcare in both the public and private sector. The Sheffield-based firm has grown into a £30 million business with profits in 2001-02 of £3.4 million on sales of £35.8 million. Harrison owns most of the shares.

60. SUZANNE MARSHALL, 39 - Phoenix Software

One of Yorkshire's fastest growing companies, Phoenix Software's expertise lies in the field of supplying and supporting software volume licensing for local government, the voluntary and corporate sectors, and education. Co-founded by Suzanne Marshall in 1990, it made a healthy £3.3 million profit on £58million sales in 2002.

100. LINDSAY LEVIN, 40 - PW White Holdings

After spending two years working for management consultancy Bain & Company, Lindsay Levin joined PW White Holdings, a Surrey-based car dealership founded in 1908 by her great-grandfather. She was 24 at the time and used her skills to turn the then ailing business around. As chairman, she now runs an operation that made £417,000 profit on £90.8 million sales in 2001-02.

SISTERS OF INVENTION

Female entrepreneurs make up nearly 20% of the list. Here are the highest-ranking, excluding the 'young guns'

19. JUNE REYNOLDS-LACEY, 50 - NSH Techlogistics

NSH Techlogistics, the Birmingham-based telecoms company, was started in 1989 by June Reynolds-Lacey. It's at the cutting edge of wire-free technology, with applications such as remote reading of gas and electricity meters. In 2002, it made a strong £4.4 million profit on £51.8 million sales. But the early days were pretty tough for Reynolds-Lacey. After various jobs, including hotel chef and chauffeur, she started NSH (then called Mobilefone) with a £60,000 loan. Her Jensen Interceptor car was locked up as collateral. Today, she has the Jensen back and a new Bentley to join it on the driveway, such has been the success of the Birmingham business, which is now worth well over £70 million.

31. KAREN MILLEN, 42 - Karen Millen Holdings

After a City & Guilds course in fashion at Medway College, Karen Millen set up a sewing machine at her parents' house and started selling clothes at the fashion equivalent of the Tupperware party. That was in 1981. After a difficult start, where she learnt the pitfalls of manufacturing, she opened a first store in Maidstone. She has never looked back since, and today there are more than 50 stores in Britain. In 2001, she sold a 49% stake in the business to Icelandic investors, but retains a 50% stake through trusts. In 2002, Karen Millen Holdings made a £6.5 million profit on £67.5 million sales.

34= CHEY GARLAND, 46 - CJ Garland & Co

Serial entrepreneur Chey Garland started her first business - a debt recovery operation - at 23 with £600 of savings. Today she runs CJ Garland & Co, a call centre operation based in Hartlepool that she launched in 1997. It provides inbound and outbound contact centre services via phone, e-mail and the web. Services range from customer retention and customer acquisition to cross-selling, up-selling, credit management and customer lifecycle management.

The company has experienced blistering growth over the past few years and recently opened a new site in Middlesbrough, together with Freeserve; this will provide the extra capacity needed to meet a growing demand for its services. Garland motivates staff by running an in-house radio station. In 2002, CJ Garland made a profit of £1.4 million on sales of £12million.

47. PERWEEN WARSI, 47 - S&A Foods

Derby-based S&A Foods was presented with the John Sainsbury Award for Learning and Development at the Institute of Grocery Distribution's 2003 awards for its unique on-site learning centre, which was opened in October 2002. A sign perhaps of the seriousness with which Perween Warsi, the company's founder, is taking the future development of her business, which currently produces about 2 million meals a week from its two factories.

She started the business in 1986, despairing of finding a decent samosa in her local supermarket in Derby. Instead, she decided to make her own.

Warsi has managed to turn that simple idea into a major food firm, employing 1,300 staff. S&A's profit in 2001-02 was £2 million on sales of £91.4 million.

69. LINDA BENNETT, 41 - LK Bennett

Known as the lady who made kitten heels affordable, Linda Bennett followed her father into the handbag business and opened her first shop in 1990. After a course in shoe design, Bennett branched out into designing shoes and clothes. Her reputation helped LK Bennett to sales of more than £20 million in 2001-02.

79. PATSY SEDDON, 55 - Phase Eight

A £3,000 loan from a friend in 1979 enabled Patsy Seddon to open her first clothes shop. Despite her lack of formal training, she repaid the loan within eight months by selling affordable and practical fashion for working women. Financed by her cashflow, she opened a new shop every year and in 1989 moved into designing and making her own range. In 2002 she took on two new partners, Michael and Maurice Bennett, who used to run the Oasis fashion chain. Seddon has stepped down from day-to-day management but she continues to work on design. London-based Phase Eight (Fashion & Designs) is expanding fast and made £1.7 million profit on £19 million sales in the year to January '03. Seddon retains nearly a quarter of the shares.

84. LORNA MORAN, 53 - Northern Recruitment Group

In 1976 Lorna Moran started her own recruitment business with £4,000 borrowed from her father. Today, the group recruits primarily for the IT, manufacturing and finance sectors. Growth has been fuelled by the boom in temporary staff. Moran started out selling classified advertising but moved into recruitment when as a single mother she decided she could not afford to be away from home as much as required. Moran has an £11 million stake in the quoted operation, and share sales add another £1 million.

90= JUDY NAAKE, 56 - Beauty Source

The 'queen of fake tans', Judy Naake has even been to Beckingham Palace to give Posh Spice a once-over. Her company is St Tropez and its main holding company, Beauty Source, founded in 1990, is doing nicely. The Nottingham operation made £2 million profit on £13 million sales.

95. JULIE DAVEY, 47 - Angel Group

Julie Davey owns Angel Group, a property concern based in London that provides accommodation for asylum seekers around Britain. Operating out of Docklands, the group made a solid £4 million profit on £21.6 million sales in 2002.

97. JANE CAVANAGH, 46 - SCI

After working for Pitman, the book publisher, and then BT, Jane Cavanagh started the SCI computer games company in 1988, floating the London-based operation on the stock market in '96. Some of its best-selling games include Lawnmower Man, Kingdom O' Magic and, more recently, The Italian Job. Sales have risen from £8 million to £18 million over the past five years.

OLD HANDS

At 65+, these entrepreneurs are proof, if any were needed, that initiative and enterprise are not the preserve of the young

49. HAROLD MARTIN, 68 - HW Martin Holdings

Fencing, traffic management systems and plant hire are obviously lucrative trades, as Harold Martin knows. His Derbyshire-based company, HW Martin Holdings, works for blue-chip clients such as the Highways Agency and HM Prison Service. In the year to June 2002, it made a £1.9 million profit on sales of £32.2 million.

55. PAUL HART, 66 - Tap Holdings

Tap Holdings is a fast-growing management and recruitment consultancy to the engineering industry. Founded in 1998, it has seen its profits soar to £3.1 million on £23.7 million sales in 2001-02. The business, based in London's Harley Street, is owned by Paul Hart, one of its two directors. On these figures and with its track record, it is easily worth £25 million.

56= JOHN RANDALL, 74 - Kanes Foods

John Randall bought Kanes Foods for £3 million from its quoted parent in 1990. It was a brilliant deal: in 2001-02, the Evesham-based food processor made £4.6 million profit on £46.4 million sales Randall owns the entire £30 million firm.

61= DOROTHY PURDEW, 71 - Champneys Health Resorts

Dorothy and her son Stephen run a number of upmarket health farms and spas, including the Champneys group, which they bought in 2002 for about £25 million. Profits at the parent company, Champneys Henlow, hit £4.2 million on £22.5 million sales in 2001-02. Champneys, which was losing money before the takeover, is being revived and a flotation of the enlarged group is a possibility.

74= JOHN GUEST, 76 - John Guest International

After starting work as an apprentice toolmaker at 14, Guest went on to found his own business in 1961. John Guest International is now one of the world's biggest makers of plastic pipe fittings for the plumbing and car industries. Based at West Drayton, near Heathrow airport, the family-owned operation is chaired by Guest, and his three sons are directors.

In 2002, John Guest International made £6.2 million profit on £70 million sales. About 60% of production is exported and the company spends some 10% of its sales figure on capital investment.

76= DAVID BELLIS, 66 - Innovative Technology

Oldham's most successful industrialist, David Bellis owns and runs Innovative Technology. Founded in 1991, the business provides equipment that validates banknotes. It grew sharply with the introduction of the euro, and in 2002 made a £1.9 million profit on £16 million sales.

81. JOHN NIKE, 68 - Nike Land Securities

Founded by John Nike in 1968, Nike Land Securities has evolved into a broadly based leisure conglomerate with interests ranging from ice rinks to ski slopes and hotels. Nike, based in the Bracknell area, built his business on the back of popular trends. The ice rink business, for example, was launched at the height of Torville and Dean's popularity. It seems to have worked. Turnover has risen 83% in the past five years to £64 million.

87. ROBERT SMALLWOOD, 66 - Acre Products

Robert Smallwood runs Acre Products, a Halifax manufacturer of the furniture used in the radio and TV industry. Started in 1973, Acre saw its profits rise to a record £4.9 million on sales of £32.5 million in the year to January 2003.

92= IFOR WILLIAMS, 73 - Ifor Williams Trailers

Ifor Williams runs Ifor Williams Trailers, a manufacturer of low loaders, horseboxes and livestock trailers. The Clwyd-based business made a hefty £4.9 million profit on £45.3 million sales in 2001-02.

96. JANET CRAWFORD, 69 - Angel Human Resources

After a career as a showgirl at London's Windmill Theatre, where she says she 'didn't mind taking her clothes off', Janet Crawford had to leave the stage at 21 after contracting a lung disease. She went to work for a job agency and helped build it up to 16 branches. In 1965, she started her own company, Angel Human Resources, with a tiny office and 'lots of mouth'. Today, it is an operation with a £22 million turnover employing 60 staff.

Rank/name Age Company Activity

1 Dinesh DHAMIJA 53 ebookers Travel

2 Andrew TURNER 45 Central Trust Finance

3 Peter CRUDDAS 50 CMC Group Finance

4 Hamish OGSTON 55 CPP Group Business

services

=5 Dr Peter LAMMER 45 Sophos Software

=5 Dr Jan HRUSKA 46 Sophos Software

7 Christopher DAWSON 52 CDS (Superstores Retailing

International)

8 Gordon SHIELDS 55 Shields Environmental Recycling

9 Charles WIGODER 43 Telecom Plus Telecoms

10 Denys SHORTT 39 DCS Europe Wholesaler

11 Anthony LANGLEY 49 Langley Holdings Industry

12 Richard ABEL* 43 Bristol & London Insurance

Accident Mgt

13 Penny STREETER 36 Ambition 24 Hours Recruitment

=14 Ray KELVIN 48 Ted Baker Retailing

=14 Gary DUTTON 54 Synseal Holdings Industry

=14 Allen TIMPANY 47 Vanco Telecoms

17 Michael MASTERSON 53 Masterson Construction

18 Fred STORY 47 Story Construction Construction

19 June REYNOLDS-LACEY 50 NSH Techlogistics Phones

20 Brent HOBERMAN* 35 lastminute.com Internet

21 Patrick NAUGHTON* 45 Premier Telecom Telecoms

22 Michael CONNORS 48 Datel Computer games

23 Jerry BRIANT 41 Land of Leather Retailing

24 Martha LANE FOX 30 Lastminute.com Internet

25 Ted SMART 60 The Book People Media

=26 William TINKLER 40 WA Developments Construction

=26 Sarah TREMELLEN 37 Bravissimo Retailing

28 Johnnie BODEN 42 JP Boden Retailing

29 Rajan KUMAR 42 Rajan Imports Retailing

30 Peter WARD 59 Thomas Hardy Holdings Brewing

31 Karen MILLEN 42 Karen Millen Fashion

=32 Christian RUCKER* 35 The White Co (UK) Retailing

=32 David IRLAM 43 James Irlam Transport

=34 John MORPHET 49 South Lakeland Leisure

Caravans

=34 Chey GARLAND 46 CJ Garland Call centres

36 John WOODWARD 61 Blue Anchor Leisure Leisure

=37 Jonathan BOWIE 37 Bowie-Castlebank Retailing

=37 David LANGMEAD 41 Nature's Way Food

39 Dennis MYERS 53 Swift Advances Finance

=40 James HOPKINS* 43 Hopkins Homes Construction

=40 Shiraz TEJANI 54 LPC Group Industry

=40 John MILLS 65 John Mills Media

43 Madan SHOWAN 50 Empire EC Retailing

=44 Tony BICKFORD 58 QAS Computers

=44 Emma HARRISON* 40 Action for Business

Employment services

46 David ATHERTON 45 Dabs.com Computers

47 Perween WARSI 47 S&A Foods Food

48 Sam RAYNER 50 Lakeland Retailing

49 Harold MARTIN 68 HW Martin Holdings Industry

=50 Karan BILIMORIA* 42 Cobra Beer Food

=50 Jeremy BROADBENT 51 Medlock Telecoms

52 Arthur MARSHALL 61 Canute Haulage Transport

53 Ravi KARIA 50 Chemilines Pharma

54 Philippa ROSE 45 The Rose Partnership Recruitment

55 Paul HART* 66 Tap Holdings Recruitment

=56 John RANDALL 74 Kanes Foods Food

=56 Douglas CRAIG 54 George Craig & Sons Industry

58 David SCACCHETTI 52 Mama's and Papa's Retailing

59 Afzal KHUSHI 48 Jacobs & Turner Fashion

60 Suzanne MARSHALL 39 Phoenix Software Computers

=61 Sir Paul SMITH 57 Paul Smith Fashion

=61 Dorothy PURDEW 71 Champneys Health Leisure

Resorts

63 Gary GRANT 45 The Entertainer Retailing

(Amersham)

64 Geoff DYSON 54 Chartdale Construction

=65 Raymond MacDOWALL 49 ECM (Vehicle Transport

Delivery Service)

=65 Douglas ANDERSON 49 Gap Holdings Plant hire

=67 Richard SMITH 55 PCMS Software

=67 David MILLES 61 Hexadex Industry

69 Linda BENNETT 41 LK Bennett Retailing

70 Andrew PAGE 50 Andrew Page Car parts

=71 Kenneth GREEN 58 Kenneth Green Cosmetics

Associates

=71 Michael CLARE 48 Dreams Retailing

73 Steve GIBSON 59 Bulkhaul Transport

=74 Gerry PACK 50 ABC Holdings Travel

services

=74 John GUEST 76 John Guest Industry

International

=76 David BELLIS 66 Innovative Industry

Technology

=76 Charles RITCHIE 56 Score Group Industry

78 Garry WIDDOWSON* 45 GAD Holdings Industry

79 Patsy SEDDON 55 Phase Eight Retailing

(Fashion & Designs)

80 Malcolm DENMARK 48 Mediaforce Media

81 John NIKE 68 Nike Land Leisure

Securities

82 Terence MORDAUNT 56 First Corporate Port

Shipping operator

83 Richard HARVEY* 59 Paddock Fabrications Industry

84 Lorna MORAN 53 Northern Recruitment

Recruitment Group

85 Peter SAUNDERS 52 Halo Foods Food

86 Ephraim BELCHER 60 Belcher Food Food

Products

87 Robert SMALLWOOD 66 Acre Products Industry

88 Patrick CURRAN 56 Bell Group Industry

89 Philip SILVER 44 Brindleclass Fashion

=90 Judy NAAKE* 56 Beauty Source Cosmetics

=90 Stephen COLE 48 Ponders End Retailing

Investments

=92 Jeffrey CLEVERLY 53 JD Cleverly Car sales

=92 Ifor WILLIAMS 73 Ifor Williams Transport

Trailers

=92 Andrew FREEMAN 53 Freeman Automotive Motor

(UK) components

95 Julie DAVEY 47 Angel Group Hostel

96 Janet CRAWFORD 69 Angel Human Recruitment

Resources

97 Jane CAVANAGH 46 SCi Computers

98 Dawn GIBBINS 45 Flowcrete Construction

99 Neil DONALDSON 48 James Donaldson Construction

100 Lindsay LEVIN 40 PW White Holdings Car sales

 

Rank/name Wealth Rank Turnover Latest % rise Rank on %

pounds on 5yrs ago turnover in turn- rise in

m wealth (pounds (pounds over turnover

m) m)

1 Dinesh DHAMIJA 140 3 9 273 2,933 2

2 Andrew TURNER 100 5 4 40 900 8

3 Peter CRUDDAS 320 2 6 26 333 20

4 Hamish OGSTON 390 1 31 105 239 28

=5 Dr Peter LAMMER 72 16 9 41 355 18

=5 Dr Jan HRUSKA 72 16 9 41 355 18

7 Christopher DAWSON 85 9 13 45 246 27

8 Gordon SHIELDS 30 50 0.5 26 5,100 1

9 Charles WIGODER 45 35 6 58 866 9

10 Denys SHORTT 57 27 3 89 2,866 3

11 Anthony LANGLEY 50 30 15 105 600 12

12 Richard ABEL* 30 50 1 7 600 12

13 Penny STREETER 30 50 4 60 1,400 5

=14 Ray KELVIN 75 12 27 70 159 43

=14 Gary DUTTON 87 8 17 52 206 32

=14 Allen TIMPANY 81 11 15 53 253 26

17 Michael MASTERSON 52 29 12 43 258 25

18 Fred STORY 30 50 7 30 329 21

19 June REYNOLDS-LACEY 75 12 16 52 225 29

20 Brent HOBERMAN* 47 33 4 35 775 10

21 Patrick NAUGHTON* 24 72 2 55 2,650 4

22 Michael CONNORS 67 20 17 48 182 38

23 Jerry BRIANT 22 75 15 79 427 15

24 Martha LANE FOX 30 50 4 35 775 10

25 Ted SMART 68 19 30 60 100 64

=26 William TINKLER 20 78 3 21 600 12

=26 Sarah TREMELLEN 10 93 1 11 1,000 7

28 Johnnie BODEN 25 67 12 48 300 22

29 Rajan KUMAR 90 7 39 88 126 56

30 Peter WARD 25 67 8 31 287 23

31 Karen MILLEN 50 30 30 68 127 55

=32 Christian RUCKER* 15 84 3 15 400 16

=32 David IRLAM 60 25 17 41 141 47

=34 John MORPHET 70 18 6 14 133 51

=34 Chey GARLAND 12 89 1 12 1,100 6

36 John WOODWARD 67 20 13 30 131 53

=37 Jonathan BOWIE 75 12 35 87 149 46

=37 David LANGMEAD 30 50 21 61 190 35

39 Dennis MYERS 65 23 9 33 266 24

=40 James HOPKINS* 27 65 15 41 173 39

=40 Shiraz TEJANI 100 5 53 95 79 76

=40 John MILLS 10 93 5 25 400 16

43 Madan SHOWAN 35 42 19 54 184 37

=44 Tony BICKFORD 20 78 13 38 192 34

=44 Emma HARRISON* 30 50 14 36 157 45

46 David ATHERTON 60 25 51 152 198 33

47 Perween WARSI 40 36 43 91 112 59

48 Sam RAYNER 75 12 48 96 100 62

49 Harold MARTIN 40 36 15 33 120 57

=50 Karan BILIMORIA* 14 87 4 13 225 29

=50 Jeremy BROADBENT 30 50 19 60 216 31

52 Arthur MARSHALL 28 64 20 48 140 48

53 Ravi KARIA 40 36 20 48 140 49

54 Philippa ROSE 22 75 5 10 100 62

55 Paul HART* 25 67 9 24 167 41

=56 John RANDALL 30 50 20 46 130 54

=56 Douglas CRAIG 35 42 64 87 36 96

58 David SCACCHETTI 35 42 39 52 33 98

59 Afzal KHUSHI 47 33 25 35 40 92

60 Suzanne MARSHALL 30 50 20 58 190 35

=61 Sir Paul SMITH 135 4 41 64 56 83

=61 Dorothy PURDEW 30 50 11 23 109 61

63 Gary GRANT 12 89 12 31 158 44

64 Geoff DYSON 35 42 11 23 109 60

=65 Raymond MacDOWALL 35 42 19 35 84 73

=65 Douglas ANDERSON 34 49 22 41 86 69

=67 Richard SMITH 67 20 16 27 69 80

=67 David MILLES 23 74 15 39 160 42

69 Linda BENNETT 30 50 14 20 43 90

70 Andrew PAGE 53 28 34 52 53 85

=71 Kenneth GREEN 25 67 16 31 94 65

=71 Michael CLARE 13 88 18 43 139 50

73 Steve GIBSON 85 9 57 88 54 84

=74 Gerry PACK 25 67 39 72 85 72

=74 John GUEST 48 32 47 70 49 88

=76 David BELLIS 20 78 9 16 78 77

=76 Charles RITCHIE 18 83 23 49 113 58

78 Garry WIDDOWSON* 38 41 20 34 70 79

79 Patsy SEDDON 5 100 7 19 171 40

80 Malcolm DENMARK 35 42 34 64 88 66

81 John NIKE 40 36 35 64 83 74

82 Terence MORDAUNT 65 23 43 60 39 93

83 Richard HARVEY* 15 84 9 21 133 51

84 Lorna MORAN 12 89 14 21 50 86

85 Peter SAUNDERS 21 77 14 26 86 69

86 Ephraim BELCHER 39 40 16 21 31 100

87 Robert SMALLWOOD 35 42 24 34 42 91

88 Patrick CURRAN 9 98 34 64 88 66

89 Philip SILVER 20 78 23 38 65 81

=90 Judy NAAKE* 24 72 7 13 86 69

=90 Stephen COLE 30 50 23 32 39 93

=92 Jeffrey CLEVERLY 10 93 31 55 77 78

=92 Ifor WILLIAMS 30 50 34 45 32 99

=92 Andrew FREEMAN 27 65 12 19 58 82

95 Julie DAVEY 20 78 15 22 47 89

96 Janet CRAWFORD 7 99 8 15 88 66

97 Jane CAVANAGH 10 93 8 18 80 75

98 Dawn GIBBINS 15 84 10 15 50 86

99 Neil DONALDSON 12 89 28 38 36 95

100 Lindsay LEVIN 10 93 68 91 34 97

 

Rank/name No of No of % rise Ranking on Score

employees employees in employ- % rise in

5 yrs ago latest ment employment

1 Dinesh DHAMIJA 7 881 12,485 1 6

2 Andrew TURNER 50 273 446 6 19

3 Peter CRUDDAS 24 107 346 10 31

4 Hamish OGSTON 263 1,222 365 8 37

=5 Dr Peter LAMMER 94 419 346 9 43

=5 Dr Jan HRUSKA 94 419 346 9 43

7 Christopher DAWSON 149 605 306 15 51

8 Gordon SHIELDS 3 114 3,700 2 53

9 Charles WIGODER 33 137 315 13 57

10 Denys SHORTT 24 69 188 29 59

11 Anthony LANGLEY 308 1,123 265 22 64

12 Richard ABEL* 6 60 900 3 65

13 Penny STREETER 35 150 329 12 67

=14 Ray KELVIN 218 824 278 17 72

=14 Gary DUTTON 162 439 171 32 72

=14 Allen TIMPANY 113 289 156 35 72

17 Michael MASTERSON 42 157 274 19 73

18 Fred STORY 88 492 459 5 76

19 June REYNOLDS-LACEY 76 192 153 36 77

20 Brent HOBERMAN* 303 742 145 39 82

21 Patrick NAUGHTON* 12 48 300 16 92

22 Michael CONNORS 117 291 149 38 96

23 Jerry BRIANT 61 313 413 7 97

24 Martha LANE FOX 303 742 145 39 99

25 Ted SMART 86 321 273 20 103

=26 William TINKLER 24 99 312 14 104

=26 Sarah TREMELLEN 15 86 473 4 104

28 Johnnie BODEN 77 289 275 18 107

29 Rajan KUMAR 62 160 98 51 114

30 Peter WARD 74 227 207 26 116

31 Karen MILLEN 403 1,064 164 33 118

=32 Christian RUCKER* 25 93 272 21 121

=32 David IRLAM 296 607 105 49 121

=34 John MORPHET 83 151 82 53 122

=34 Chey GARLAND 277 821 196 27 122

36 John WOODWARD 162 324 100 50 123

=37 Jonathan BOWIE 1,375 2,156 57 69 127

=37 David LANGMEAD 149 347 133 42 127

39 Dennis MYERS 36 48 33 84 131

=40 James HOPKINS* 30 88 193 28 132

=40 Shiraz TEJANI 304 601 98 51 132

=40 John MILLS 31 101 226 23 132

43 Madan SHOWAN 105 185 76 55 134

=44 Tony BICKFORD 109 352 223 24 136

=44 Emma HARRISON* 409 965 136 41 136

46 David ATHERTON 155 215 39 80 138

47 Perween WARSI 567 1,229 117 45 140

48 Sam RAYNER 584 910 56 72 146

49 Harold MARTIN 124 214 73 56 149

=50 Karan BILIMORIA* 17 44 159 34 150

=50 Jeremy BROADBENT 190 299 57 69 150

52 Arthur MARSHALL 349 734 110 46 158

53 Ravi KARIA 55 84 53 74 159

54 Philippa ROSE 17 53 212 25 162

55 Paul HART* 10 17 70 59 167

=56 John RANDALL 407 654 61 65 169

=56 Douglas CRAIG 469 1,284 174 31 169

58 David SCACCHETTI 152 428 182 30 170

59 Afzal KHUSHI 79 164 108 47 172

60 Suzanne MARSHALL 87 109 25 88 173

=61 Sir Paul SMITH 376 474 26 87 174

=61 Dorothy PURDEW 547 896 64 63 174

63 Gary GRANT 195 429 120 44 177

64 Geoff DYSON 51 76 49 76 178

=65 Raymond MacDOWALL 206 334 62 64 179

=65 Douglas ANDERSON 327 519 59 68 179

=67 Richard SMITH 240 322 34 82 182

=67 David MILLES 324 518 60 66 182

69 Linda BENNETT 119 244 105 48 188

70 Andrew PAGE 460 675 47 78 191

=71 Kenneth GREEN 154 259 68 60 192

=71 Michael CLARE 201 359 79 54 192

73 Steve GIBSON 332 358 8 99 192

=74 Gerry PACK 222 380 71 57 196

=74 John GUEST 694 1,031 49 76 196

=76 David BELLIS 77 171 122 43 198

=76 Charles RITCHIE 347 592 71 57 198

78 Garry WIDDOWSON* 106 148 40 79 199

79 Patsy SEDDON 174 289 66 61 201

80 Malcolm DENMARK 161 185 15 94 202

81 John NIKE 657 751 14 95 205

82 Terence MORDAUNT 469 545 16 93 209

83 Richard HARVEY* 180 273 52 75 210

84 Lorna MORAN 51 129 153 36 211

85 Peter SAUNDERS 267 428 60 66 212

86 Ephraim BELCHER 116 160 38 81 221

87 Robert SMALLWOOD 327 387 18 91 224

88 Patrick CURRAN 447 740 66 61 225

89 Philip SILVER 14 22 57 69 228

=90 Judy NAAKE* 68 72 6 100 241

=90 Stephen COLE 103 112 9 98 241

=92 Jeffrey CLEVERLY 136 210 54 73 244

=92 Ifor WILLIAMS 374 425 14 95 244

=92 Andrew FREEMAN 65 73 12 97 244

95 Julie DAVEY 176 229 30 86 253

96 Janet CRAWFORD 45 56 24 89 254

97 Jane CAVANAGH 38 47 24 89 257

98 Dawn GIBBINS 109 128 17 92 262

99 Neil DONALDSON 257 340 32 85 269

100 Lindsay LEVIN 286 384 34 83 273

RULES FOR TOP 100

1. *Covers three or four years of accounts rather than the standard

five.

2. Wealth valuations are drawn from share prices as listed in the

Financial Times in late October 2003, or latest accounts available for

private companies and the appropriate price/earnings multiple used

(usually about 10-12).

3. The entrepreneurs are ranked by taking into account the sum total of

their ranking on wealth (1-100), the ranking of the percentage rises in

turnover (also 1-100), and the ranking for numbers of employees. The

lowest score wins, and is meant to reflect how well the entrepreneur is

doing him or herself (his/her own stake in the company), how well that

company has performed (turnover growth) and what it is doing for the

community (in terms of jobs growth). Relying on the percentage growth

for turnover and employment creates a more level playing field for small

and large companies.

4. Family stakes, those in trust or held by offspring are agglomerated

under the entrepreneur's name. For brevity's sake, we dispense with the

term 'and family'.

5. We have relied on the latest accounts filed at Companies House before

the end of October 2003. Later accounts will be reflected in next year's

list.

6. To enter the top 100, entrepreneurs must either have started a

business or inherited it and built it to much greater success. We also

include those who have bought an ailing concern and turned it around.

7. As a deliberate attempt to find the newer blood among the UK's

entrepreneurs, few companies with a turnover of more than £100

million are listed, and we have tried to impose a cut-off of £150

million.

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