Business Men and Women: What was their Education?

February 23, 2022

• Topical

The final instalment in our blog series exploring cultural icons and their educational backgrounds looks at iconic British businessmen and women. While it is easy to think you need a university degree in finance or economics to excel in the business world, these individuals showcase the many different ways in which you can succeed.

Firstly, let’s break down the subjects studied at university:

Significantly, there does not appear to be a specific subject at university that predisposes you to a successful career in business. There are some areas in business where a specific degree is perhaps important, and this is evident with Jim Radcliff and Andrew Currie, who both have science degrees – something significant in establishing and running a global chemical company. Equally though, some degrees, such as Martha Lane Fox’s Ancient and Modern history degree, has little direct connection to her success in establishing last minute, an online travel and retail company. This serves to highlight the varied nature of the business world and how even if your degree is not directly related to a particular career path, the skills you acquired are frequently transferable.

Equally, there are a significant number of business men and women who did not attend University and pursued other paths to success. Of those surveyed 58% did not attend university, choosing internships, apprenticeships, courses, and starting their own businesses as alternatives.

Richard Branson famously did not attend university and was instead entrepreneurial from a young age, launching his first business venture, a magazine called Student, aged 16 after he had left school. It was from there his brand began to grow – launching a record business Virgin Records in 1972 and Virgin Atlantic in between 1981 and 1987.

Starting your own business is not the only way to be successful in the business world. Jacqueline Gold, CEO of Anne Summers and Gold Group International, started her career when she took a summer job in 1972 at Anne Summers. She was paid less than £45 a week. She saw the flaws of marketing women’s products from the male perspective and when she was appointed CEO in 1987, she transformed the company, championing women with a strict ‘no men allowed’ policy.

Lastly, these businessmen and women demonstrate that success is not always linear. Peter Jones started his own business aged 16 selling personal computers. However, this failed and he was forced to move back into his parents’ house giving up his three-bedroom home. He is now perhaps one of the most famous and successful businessmen in the UK.

As such, these individuals demonstrate the varied paths and obstacles to success. While some achieved degrees that facilitated their careers, others chose to apply the skills they gained at university in other fields, while some did not attend at all. Their experiences all differ, but what they share is that they have become some of the most successful businessmen and women in Britain.