Reuben Singh History
At 21, Reuben Singh was Britain’s youngest self-made millionaire. At that tender age, he had already experienced just about all the ups and downs that can possibly befall an entrepreneur as they climb the business ladder.
Sadly, Mr Singh’s company was recently forced into administration, a usually fatal blow for any entrepreneur. However, in a shocking twist, Reuben Singh’s parents stepped in and purchased their son’s business back from the administrators. It was a savvy manoeuvre that successfully allowed the Singhs to keep the business in the family while avoiding the circling creditors.
The latest drama is unfolding not long after Reuben was invited to Buckingham Palace in order to attend a party thrown to celebrate Britain’s entrepreneurs, under the banner of ‘Pioneers to the Nation’.
Showing Early Promise
Reuben Singh showed signs of promise from a young age, in addition to becoming the youngest self-made millionaire in Britain he was awarded an award for entrepreneur of the year aged just 25.
Reuben Singh first shot to fame when he sold his first venture, a fashion chain known as Miss Attitude, for £55 million. Since then, despite seeing some of his ventures go into administration, Reuben Singh has been able to maintain a respectable business portfolio.
Setbacks have not deterred Singh and he has continued to display the characteristics of a natural entrepreneur who is destined for even greater achievements than he has already demonstrated.
Singh’s latest move to avoid his creditors mirrors similar techniques that the family employed back in 2003 when Reuben’s secretary service, AlldayPA, entered administration. AlldayPA found itself saddled with debts of some £2 million while it was making annual losses in the region of £115,000. The company subsequently issued a debenture, which is an acknowledgement of debt, and accepted that the company owned Mr and Mrs Singh an undisclosed amount of money. AlldayPA undertook to release more shares, allocating 9,900 in total, of which 7,900 were given to Reuben’s parents. Ultimately, AlldayPA was bought by Mr and Mrs Singh, who renamed the company Newton 1884.
Reuben Singh and The Business Today
Reuben Singh has always maintained that going into administration was the best move for the business at that time and he believes that the company has continued to perform well, against all expectations.
AlldayPA was set up in order to offer a secretarial service to small businesses who are more used to using internet services than traditional secretarial workers. Within a year of its opening, Singh declared the company to be worth £100 million.
The Singh family have all demonstrated a shrewd understanding of the contemporary business landscape and how it can be exploited in order to maximise returns for their business interests. It is this determination and appreciation for the subtleties of entrepreneurship that have allowed them to maintain their success over the last decade. Achieving success as quickly and decisively as Reuben Singh is a sure sign of a natural-born businessman. It’s clear that Singh has much to offer the world of entrepreneurs.