Insider’s 42 Under 42 of 2009 face new challenges in what is going to be a very different future economy, as Simon Hill, executive director of business for Yorkshire Forward told this year’s class as they came together for the 42 Under 42 black tie dinner.
Hill said he did not believe in a return to recent levels of prosperity and said: “When we do come out of this recession, the UK and world economies are going to look very different.”
He said the 42 Under 42, having already achieved great things under the old economy are going to inherit a very different economy for the future.
“Their challenge will be to make sense of this new landscape and to forge a new way of doing business which is in tune with the social, political and economic drivers of the times. I can’t think of a more exciting challenge or a greater responsibility,” he said.
One who relishes this challenge is Tim Whitworth, chief executive of fashion retailer Republic and the winner of the Emerging Entrepreneur award at the Insider 42 Under 42 Business Awards.
Whitworth led a management buyout (MBO) of the Leeds-based business in 2005, expanding to 93 shops across the UK and achieving a turnover of £120.7m. He plans to take this to 200 shops and also made the strategic decision in 2006 to open mega stores of more than 7,000 sq ft, such as its latest shop – a 13,000 sq ft unit formerly owned by Zavvi in Sheffield.
Whitworth said the growth can be attributed to the company’s passion, commitment and belief in what it is trying to do, change and create. “There is no spearhead in Republic. We have a fantastic group of people and an environment in which, if you want to succeed, the opportunities will be there. I realised them when I got to lead the MBO,” he said.
More than 180 people attended Insider’s 42 Under 42 Business Awards at the Royal Armouries in Leeds, including the 42 entrepreneurs under the age of 42 profiled in Insider between February and April 2009, who were automatically entered into the awards, as well as established business leaders who were also nominated.
Date: Wed 6th May, 2009
Venue: Royal Armouries, Leeds LS10 1LT
Number of Guests Attended: 180