A SOCIAL CARE enterprise run by two brothers won the top award at Eastern Eye’s Asian Business Awards (ABAs) in London tonight (22).
Haroon and Farouq Sheikh, who founded CareTech in 1993, building the company into a multi-million-pound business of residential care homes across the UK, was named the Asian Business of the Year at a gala event on Friday.
The pair were among 10 winners at the event, along with entrepreneur Kailash Shah and businesswoman Mala Agarwal.
They were all Asian business men and women recognised for their successes and contribution to the British economy at the annual event, hosted by the Asian Media Group, publishers of Eastern Eye and Garavi Gujarat newsweeklies.
The evening also saw the unveiling of the latest edition of the Asian Rich List, which profiles the top 101 wealth creators of Asian origin in Britain. The Hinduja family topped the list with an estimated wealth of £25 billion, followed by steel tycoon Lakshmi Mittal (£11.2bn) and SP Lohia in third place (£5.8bn).
Shailesh Solanki, executive editor of AMG, described the Rich List as “the definitive guide to Asian wealth in Britain”.
“This year’s list is once again a fascinating commentary on the financial impact British Asians have in the UK and the level of success and growth that certain entrepreneurs and business leaders have achieved,” he said.
Chancellor Phillip Hammond MP was the chief guest at the gala event and paid tribute to the remarkable efforts of Asian business leaders in the UK.
“The Asian business community in the UK has gone from strength to strength," said Hammond.
"Asian markets have become more and more important to British businesses and the global balance of economic power has shifted decisively in favour of the emerging Asian economies. Later this year, India will overtake the UK to become the world’s fifth largest economy."
He added: "My beliefs when I first became an MP are the same things that drive me 22 years later as chancellor of the exchequer.
"A belief in the market economy as the best, indeed, the only way to deliver future prosperity for the British people.
"A belief in Britain as an open, tolerant, outward-looking nation, confident and competitive in the world.
"And above all, a belief in the power of business – that self-starters, entrepreneurs, investors are the engine of our economy, and the bedrock of our communities. And our job in government is to reinforce that vision and support successful business leaders like you to power up the British economy for the 21st Century."
Kalpesh Solanki, group managing editor of AMG, said the ABAs had become the definitive platform to recognise and celebrate success of the Asian business community “by providing the oxygen of publicity and recognition that highlights unsung heroes.”
Addressing the audience, he noted concerns over Brexit and what impact it would have on businesses across the country.
“Businesses have rarely confronted such uncertainty and whether you voted to leave or to remain, it is now time for us as entrepreneurs to look towards the future and help shape it,” he said.
Winners on the night included family and independent businesses, entrepreneurs and a charitable foundation.
The Hinduja Foundation was presented the Philanthropy Award, in honour of their charitable efforts. The organisation runs a variety of projects, including rural development, healthcare, education, water resources and social welfare. In the UK, they are known for their supportive work with educational institutions such as the University of Cambridge.
Kailesh Suri, the founder of Reel Cinemas, won the Business Personality of the Year award. Suri, who formed the independent brand of cinemas in 2001, has strived to create an “experience” for cinema-goers. Operating 15 separate venues across the country, the venues provide a series of social areas including bars, bowling alleys, games rooms, laser quest and escape rooms.
Rishi Khosla, CEO and co-founder of OakNorth Bank, was crowned as the Entrepreneur of the Year. Khosla set up the fintech company in 2014 with his fellow co-founder Joel Perlman, whom he met while studying at the London School of Economics. In the last year, Oaknorth became the first digital bank to record a profit with a pre-tax figure of £10.6m.
The Businesswoman of the Year award was handed to Mala Agarwal, the managing director at Athena Care Homes. Agarwal, who has been involved in the care home sector since her teen years, set up the business in 2014. Taking over properties which needed severe improvement, they were rated as “good” by the Care Quality Commission after just two years.
BBC presenter Nihal Arthanayake compered the event, while singer Shama provided entertainment for the evening.
Guests included captains of industry, MPs, community leaders and celebrities from the word of arts, media and entertainment. They gave generously to a charity appeal by Great Ormond Street Hospital.
Asian Business Awards - Winners
Restaurant Business Award
The Cinnamon Club
Franchise Business Award
Amsric
Care Home Operator of the Year
CHD Living
Businesswoman of the Year Award supported by Damac
Mala Agarwal, Managing Director, Athena Care Homes
Young Entrepreneur of the Year supported by SBI
Dr Nikhil Shah, Director, London Town Group
Healthcare Business Award supported by Shanti/C&C Alpha
Sigma Pharmaceuticals
Entrepreneur of the Year supported by Edwardian Hotels London
Rishi Khosla, CEO & Co-Founder, Oaknorth Bank
Business Personality of the Year
Kailesh Suri, Founder, Reel Cinemas
Philanthropy Award
Hinduja Foundation
Asian Business of the Year
CareTech
You can order a copy of the Asian Rich List by contacting Saurin.Shah@amg.biz
Bobby Bawa