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Leek entrepreneur named as one of the UK's top 10 new business stars in national awards
A Leek woman, whose firm designs and manufactures a range of clothes specifically for the disabled, has been crowned one of the country's 10 best new entrepreneurs in the 2007 HSBC Start-Up Stars Awards. Now owner Annabel McMahon has her sights set on the top title 'HSBC Start-Up Star 2007' - but first she will have to convince the judges that Rackety's has the vital 'X' factor that deserves the first prize of £25,000. 49 year-old Annabel set up Rackety's less than four years ago. Having worked with most of the major UK high street clothing stores, Annabel realised there was a huge market that was being entirely ignored by the fashion industry. And that was, people with disabilities. Initially focussing on children's wear, Annabel set out to design and manufacture a range of clothing that would meet the specific needs of the disabled without sacrificing style. Her aim was to make clothing that would enhance their lives on a practical level but look just the same as the high street clothes every other kid was wearing. Launched in May 2004, Rackety's sells by mail order and online and has notched up a number of successes. There has been a steady growth in sales, the company has won two prestigious business awards, for design excellence and exporting, and has moved out of Annabel's back bedroom into business park premises that act as warehouse, showroom and office. Most significantly, former disabled athlete Dame Tanni Grey Thompson has recently joined Rackety's board to work on product and brand development. The potential for the business is huge, with very little competition in the adaptive clothing industry. Now ready to expand into adult clothing, the company is poised to take major steps forward. There are 8.5 million disabled people in the UK with an estimated buying power of around £40 billion. So far, their choice of practical clothing adapted to their needs has been extremely limited. Annabel McMahon is in the process of changing that situation and there seems very little to stop her achieving her goal of a £1 million turnover for her clothing business within three years. Looking ahead, she has plans to diversify into other products, including adaptive sportswear and possibly fitness equipment and videos. There's even the chance that we might see 'Tanni and Anni' becoming the Trinny and Susannah of the style conscious disabled community - all contributing to giving new confidence to the disabled population. Chief Operating Officer for HSBC Commercial Banking, Simon Wainwright added: "Last year, HSBC helped the entrepreneurs behind nearly 96,975 new businesses get started - that's one every six minutes - so we understand what it takes to set up a new venture and go it alone." "We hope the success Rackety's in this year's HSBC Start-Up Stars Awards will help it go from strength to strength, as well as prove to other budding entrepreneurs that business dreams really can be turned into reality." Annabel and the rest of her team will have to wait until Wednesday 24 October to find out if her business has gone all the way to scoop the top cash prize plus the coveted title 'HSBC Start-Up Star 2007', to be announced at a glittering black-tie event at London's Dorchester Hotel - attended by over 300 guests. A runner-up will also be presented with a cheque for £7,000, whilst a special Green prize of £5,000 will be awarded to the best new business whose eco friendly credentials are considered to be outstanding. www.hsbc.co.uk
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