My second business would have succeeded but for competitors' jealousy. I was selling motorbike gear cheap, but the people I was undercutting complained to the manufacturer and cut off my supply. It showed me how corrupt business can be. When I sold phones, the same thing happened, but this time I was ready.

My father was unwell when I was 11, had a stroke at 14 and died when I was 18. My mother going to work at seven in the morning and coming back to look after him and me and my brother left its mark on me.

I'm known for value for money. I was brought up to be frugal, and it's definitely a factor in my success. I was born in the Fifties, which was a frugal era, and my family had to be very careful with money out of necessity.

John Caudwell Quotes