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Entrepreneurs Panel

Steve Purdham
Richard O'Sullivan
Tony Caldeira
Brian Hay
Laura Tenison
Charlie Mullins
Michael Oliver
Julie Meyer
David Pollock
Jeremy Roberts
Debbie Pierce
Jennie Johnson

UK growth revised up to 0.7%

UK growth was stronger than previously thought in the run-up to the Brexit vote, according to official figures.

The Office for National Statistics revised GDP growth for the three months to June to 0.7 per cent, up from its initial estimate of 0.6 per cent.

This compares with growth of 0.4 per cent for the first quarter of the year.

Meanwhile, ONS data shows growth in the services sector was much stronger than expected in the aftermath of the EU referendum, climbing by 0.4 per cent in July.

Darren Morgan, a statistician for the ONS, said: "Together this fresh data tends to support the view that there has been no sign of an immediate shock to the economy, although the full picture will continue to emerge."

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Five Minutes With

David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.

It took Richard Shonn, managing director of 151 Products, three years to find a warehouse big enough for his requirements.