Top UK Entrepreneurs continue to create jobs on large scale despite wider unemployment - Ernst & Young - United Kingdom

Top UK Entrepreneurs continue to create jobs on large scale despite wider unemployment

The UK’s top entrepreneurs are continuing to create jobs on a large scale, despite high unemployment, figures compiled by Ernst & Young have found.

Leading entrepreneurs have seen 36 per cent overall employment growth at their companies in two years. The number of jobs created by the more than 40 finalists of the UK’s Ernst & Young Entrepreneur Of The Year rose from 11657 to 15806 between 2008 and 2010.

The businessmen and women, most of whom have started their companies from scratch, have created and invested in, employment in sectors from retail to cleantech, and in many parts of the country suffering stubbornly low employment rates.

In retail, Mark Neale, Managing Director of The Mountain Group more than doubled the number of employees from 305 to 654, while fellow retailer Chris Dawson of CDS Superstores increased jobs from 2078 to 2652. In Forfar, jobs at Balhousie Care Group rose from 400 to 649 jobs, while Michelle Clothier and Sam Conniff of social enterprise Livity saw jobs rise from 9 to 31.

Despite challenging economic conditions, the entrepreneurs have also seen revenue growth rates of 47% over the two years until 2010.

However in a recent poll of finalists of the competition which reaches its final on Monday (3 October), entrepreneurs cited shortage of skilled staff as remaining one of the key challenges faced in driving enterprise. They also said immediate tax breaks were urgently required as the most important measure needed to boost enterprise and growth, describing the 50p tax rate as an obstacle to incentive.

Richard Hall, partner and UK Entrepreneur Of The Year leader, said: “The spirit of innovation demonstrated by the UK’s high-growth entrepreneurs is very strong, and clearly has not been stifled by the economic downturn. Entrepreneurs demonstrate the importance of innovation in creating jobs, which is going to be crucial in kick starting economic growth in the UK regions.”

“We are finding that entrepreneurs are not only creating jobs but investing in people and training to secure the skills they need. However there still requires further support to ensure that the appropriate skilled jobs are generated in the UK.”

The final of Ernst & Young UK Entrepreneur Of The Year, sponsored by Credit Suisse, will be held in London’s Hilton Park Lane on 3 October 2011, hosted by Fiona Bruce and attended by Business Secretary Vince Cable. The independent judges have recognised the recent vision and success of the entrepreneurs across regions and sectors including recruitment, retail, technology and consumer products.

The successful entrepreneur will then compete with winners of the prestigious title across the world, at the world Entrepreneur of the Year awards in Monte Carlo next year Last year’s winner Ayman Asfari, Group Chief Executive of oil and gas company Petrofac Limited was recognised from turning the company into a US$1mn US domestic business to a leading international services company worth US$8bn. Former category winners have included Hilary Devey, star of BBC’s Dragons’s Den and former Emerging Entrepreneur of the Year Matthew Riley, of Daisy telecoms, who grilled candidates on this year’s The Apprentice.

For further information contact Jonathan Marciano on 0207 951 9456.

NOTES
These figures were taken from submissions by finalists of the Ernst & Young Entrepreneur of the year programme and have not been independently verified.

Sponsored in the UK by Credit Suisse, Ernst & Young Entrepreneur Of The Year celebrates people who build and lead successful, growing and dynamic businesses; recognising them through regional, national and global awards programmes in more than 135 cities in 50 countries.

The finalists for UK Entrepreneur are: