Archive for January 2004
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. 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.
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 pounds 4 million profit on pounds 21.6 million sales in 2002.
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 pounds 100 million are listed, and we have tried to impose a cut-off of pounds 150