Business Studies summer work: Lord Alan Sugar
Lord Alan Michael Sugar started his empire selling car aerials out of a van. He has amassed a fortune of around 800 million, and ranks in the top 100 Sunday Times Rich List. Sugar dropped out of school at 16, and worked as a Statistician in the Education Ministry. Disliking the job he left the civil service for a totally new venture: selling electrical items. At 21 he registered the name Amstrad, a company born from a van. This name was devised using the letters from his own name: Alan Michael Sugar trading. It was one of the first computer selling companies and was an innovative idea when started by Lord Sugar. This new company took Europe by surprise. Two years after it’s founding, it produced affordable hi-fi turntable covers using injection-molding plastics opposed to the traditional vacuum mold which cost more giving his product a significantly lower price in turn giving the company such success that it was to later be placed on the London Stock Exchange. During the 1980′s Sugar’s fledgling company doubled in share price each year and tapped into different markets.
All these successes were motived for Lord Alan Michael Sugar because of his upbringing in which his father had no idea whether he would have work the next day or not leading Lord Sugar to feel that he had to provide for himself and so he was determined to make something of himself as he knew his parents were doing the best they could for him but had a burning entrepreneurial spirit inside him that was waiting to have a chance and he knew this so even at school he would have a job in the morning go to school and then sell stuff there to make money.