The last few years have seen an increasing number of self-made women make it onto rich lists across the globe. This has inspired millions of women to pursue their own business initiatives to grow their wealth. To celebrate International Women’s Day 2022, here’s a look at four of the UK’s richest self-made women and how they made their money!
1. Denise Coates
Denise Coates made her money by running a successful online gambling business that started as a simple website. The businesswoman has a net worth of nearly £4 billion, making her one of the richest women in the country and in the world!
Before starting her business, Coates worked as an accountant and then went on to own a small chain of shops. Her business, Bet365, is an online gambling company that allows people to bid on sporting events, races and other games. Coates started her online business with the help of a loan. The company now brings in a revenue of around £2 billion a year.
2. Dame Mary Perkins
Mary Perkins is a Bristol-born entrepreneur who founded Specsavers along with her husband Doug Perkins. Her current net worth is £1.2 billion, and her eyewear company has been bringing in over £2 billion in annual revenue for the last few years.
Mary and her partner started their multibillion-pound business on a ping pong table in their spare room. The first Specsavers store opened in Guernsey in 1984, and the company now has stores all over the country.
3. Dame Ann Gloag
Ann Gloag has a net worth of around £700 million. Gloag’s wealth comes from her nationally recognised travel business Stagecoach, which brings in millions every year.
Stagecoach started as a small minibus service that Ann set up in Scotland. The company was originally called ‘Gloagtrotter’ and slowly expanded into the national transport service that we know today.
4. J.K. Rowling
J.K. Rowling is possibly the best-known name on our list. The English writer has earned her wealth through her best-selling books that have brought her a net worth of £820 million.
The writer’s first Harry Potter story was famously turned down by 12 different publishing houses before finally being accepted by Bloomsbury. Since then, Harry Potter has become a classic series that is recognised worldwide.
How to ensure your own small business is a success
The majority of self-made rich women in the UK have made their millions through business ventures. In 2022, there are more flexible business opportunities than ever for women (and men!).
If you fancy adding yourself to the list of richest women in the UK, here are some tips for creating your own successful business.
Set small, attainable goals
All of the women on the list started their businesses on a small scale and slowly scaled up. Setting yourself large, unattainable goals too quickly can often set you up for failure. Instead, try to set small goals that you can achieve in a short period of time, and don’t feel disappointed if your business takes a while to truly take off.
Invest your profits
It can be tempting to spend business profits as soon as they appear in your bank account. However, a better idea is to reinvest them into the business or investment accounts that could support your business in the future. For example, you could put a portion of your profits into a stocks and shares ISA that can put your business gains to work for you.
Get your finances in order
If you want your business to be a success, you need to keep on top of your finances from the very start! That means creating a clear budget plan and sticking to it. Also, it’s a good idea to consider a business credit card that can help you to manage the costs of getting your business off the ground.
If you are new to the world of business ownership, it may be a good idea to speak to a financial adviser about how to best handle your business finances going forward.
The post The UK’s richest self-made women and how they made their money appeared first on The Motley Fool UK.
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