logo
Northampton online retailer wins King's Award for enterprise

Northampton online retailer wins King's Award for enterprise

BBC News06-05-2025
An online business that began with only £10 has been recognised with a King's Award for enterprise in international trade. Sol Retail, based in Northampton, was founded in 2012 by husband-and-wife team Barry and Katy Tong, and started by selling ornaments and DVDs on eBay. It is now ranked among the top 100 sellers on Amazon UK and the EU. The King's Awards for Enterprise celebrate outstanding achievements by UK businesses.Mr Tong, CEO of Sol Retail, said: "This award is a landmark, not just for Sol Retail, but for the vision and perseverance that's brought us here. When we started the business in a flat with £10... we never imagined we'd be where we are today."
The business started when Mr Tong had to clear his grandmother's bungalow after she had passed away.His partner, now wife, Katy, suggested putting them items on eBay and the business began.From there the company began selling more products online in the UK, and the overseas, with Mr Tong leaving his job in 2013 to work on the business full time.Now Sol Retail supports health, beauty and wellness brands sell and market products online, as well as retailing its own items and now has sales of nearly £20m per year.It sells products via Amazon across the world, as well as in Walmart in the US and other retailers in the UK including eBay.Brands it works with include Ted Baker, Yardley and King of Shaves.Alongside its commercial growth, Sol Retail donates to charities including Northampton-based Lewis Foundation, which provides gift packs to adult cancer patients in hospitals across Northamptonshire and the Midlands.That includes giving over £500,000 in unwanted stock to the Lewis Foundation to sell in its shops.Mr Tong added: "The King's Award for Enterprise recognises the passion, grit and innovative thinking that our team bring to the table every single day, and it marks just the beginning of our journey to £50 million and beyond."Two other Northamptonshire firms also received the Kings Award: Enovation Consulting Ltd, a management agency in Silverstone, and Ziggurat XYZ Ltd, a talent and creative agency in Northampton.
Follow Northamptonshire news on BBC Sounds, Facebook, Instagram and X.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Labour MSP defies Scottish Secretary in call for wealth tax
Labour MSP defies Scottish Secretary in call for wealth tax

The Herald Scotland

time16 minutes ago

  • The Herald Scotland

Labour MSP defies Scottish Secretary in call for wealth tax

A wealth tax is a form of taxation which is designed to collect money from an individual's total assets as opposed to specific levies on income or property. Proposed wealth taxes have included a levy on cumulative wealth - including everything from property, to investments, to art. The idea of the policy is that it could make the tax system fairer by directly targeting accumulated assets. The policy has recently emerged as a key dividing line in the parliamentary Labour Party in both Westminster and Holyrood. READ MORE: Last week, Scottish Secretary Ian Murray dismissed the idea of the UK Government implementing a wealth tax, saying that there was 'no silver bullet' to the country's economic woes. Speaking to the Comedian Matt Forde at the Edinburgh Fringe, Mr Murray said '[A wealth tax] doesn't work. The Laffer curve [an economic theory which explains the correlation between taxation and government revenue] is there for everyone to see. 'So, yes, you can bring in a wealth tax, because it might make you feel principally better. You might bring in £200 million but the cost of doing that would be huge because there is just flight, whether we like that or not.' Scottish Secretary Ian Murray last week publicly denounced the idea of a wealth tax (Image: PA)Contradicting Mr Murray, Ms Villalba said of the Laffer curve: 'this theory, though influential, is unfounded.' She went on to say that she believes that 'all financial wealth originates from human labour'. 'It would therefore take a mass exodus or nationwide risk to life for wealth creation in a country to cease.' 'We need only look at the hit private profit would have taken during the pandemic had the state not stepped in to shore it up to see the primacy of human labour evidenced. 'A significant proportion of wealth is in immobile assets like land, property and British-based businesses…This wealth cannot up sticks and leave with an individual. The resources remain in the country and are subject to taxation. 'We know we won't lose wealth creation as long as we have a fit and able population to do the work. 'In fact, the greatest risk to wealth is workforce shortages caused by a public health service on its knees, an undervalued public education system and a cost-of-living crisis deterring new parents. In short, the greatest risk to wealth is continuing to let it go untaxed.' The Scottish Greens have also recently made fresh calls for a wealth tax in response to 'soaring' CEO pay. Discussing new figures which showed that some British Executives' pay had reached over 100 times that of the average worker, MSP Maggie Chapman said: 'A wealth tax is now a necessity, to make sure that those who have enriched themselves the most pay their fair share.' Rachel Reeves refused to be drawn on a wealth tax when quizzed by journalists earlier this month. She said the UK Government had to 'get the balance right on taxation' but stressed the 'number one priority' was growing the economy.

Cwm Arian Renewable Energy awarded £246,724 from Ofgem
Cwm Arian Renewable Energy awarded £246,724 from Ofgem

Western Telegraph

timean hour ago

  • Western Telegraph

Cwm Arian Renewable Energy awarded £246,724 from Ofgem

Pembrokeshire-based Cwm Arian Renewable Energy (CARE) has been awarded £246,724 through the Ofgem Energy Redress Scheme to deliver its Unlocker project, which aims to expand renewable energy generation in rural West Wales. The funding comes from the scheme's Just Transition fund and will support the development of community-led renewable energy schemes and long-term income streams for vulnerable households. Michael Shakib, renewable energy project coordinator at CARE, said: "We're hugely grateful for this support which will enable us to expand our renewable energy work across rural West Wales, assisting staff to deliver innovative community-led projects that cut carbon and build long-term local resilience." CARE plans to develop Smart Local Energy Systems (SLES) in community facilities, exploring new models for energy trading and larger-scale renewable energy initiatives. The funding is part of the 11th round of the Ofgem Energy Redress Scheme, which has awarded more than £9 million to 31 charities across Great Britain to support energy-related projects. Graham Ayling, senior project manager for the Energy Redress Scheme at Energy Saving Trust, said: "We've seen the positive impact of previously funded projects in Wales, and we're excited to announce how this latest round of funding will benefit local communities. "This round of funding will support charities and community groups to help those most in need to heat and power their homes. "It will also enable the voluntary sector to scale up the UK's transition to net zero, ensuring no one is left behind." The Energy Redress Scheme channels funding from Ofgem's enforcement and compliance work, where energy companies that breach regulations make voluntary payments into the scheme. Russell Ogilvie, head of enforcement at Ofgem, said: "This funding, which is a direct result of Ofgem's enforcement and compliance work, shows that when energy companies fall short, we hold them to account and help deliver tangible support for those who need it most. "From tackling fuel poverty to backing innovative carbon-cutting projects, the Energy Redress Scheme continues to empower communities across Wales." Since its launch in 2018, the scheme has distributed more than £181 million to support 721 projects across England, Scotland and Wales.

Soho House to be bought for £2bn by Ashton Kutcher-backed group
Soho House to be bought for £2bn by Ashton Kutcher-backed group

Leader Live

time3 hours ago

  • Leader Live

Soho House to be bought for £2bn by Ashton Kutcher-backed group

The hospitality group, which is based in London but listed on the New York Stock Exchange, confirmed that shareholders in Soho House & Co will receive nine dollars (£6.64) per share in the business. New York-based hotel giant MCR Hotels is leading the consortium, also including private equity firm Apollo, which struck the deal to take the company private. It will pay £2 billion to snap up the business, including its debts. A raft of existing shareholders, including Ron Burkle, Ivy Collection boss Richard Caring and founder Nick Jones, will retain their stakes in the company. A-list actor-turned-tech investor Mr Kutcher will also invest in Soho House as part of the deal and will join the firm's board of directors. MCR boss Tyler Morse will also join the board as vice chairman following the takeover. Soho House was founded as a single private members' club in the central London area in 1995 but has since expanded globally with a portfolio of exclusive venues. The business currently runs 46 Soho House sites, eight Soho Works and Scorpios Beach Clubs in Mykonos and Bodrum. It also owns the Ned and numerous other hospitality businesses. Andrew Carnie, chief executive of Soho House & Co, said: 'This transaction reflects the strong confidence our existing and incoming shareholders have in the future of Soho House & Co, and the transformation we've led since becoming a public company. 'Since our IPO (initial public offering) in 2021, we've focused on building a stronger, more resilient business. 'I'm incredibly proud of what our teams have accomplished and am excited about our future, as we continue to be guided by our members and grounded in the spirit that makes Soho House so special.' Mr Morse said: 'All of us at MCR are excited to be part of the Soho House journey, helping to create more experiences, interactions and memories alongside friends and members. 'We have long admired Soho House for bringing together cultures from around the world into a global network of 46 houses, and we look forward to the continued growth of that fabric, starting with four new houses opening soon.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store