the path to success

Duncan Bannatyne, on staying in control, the power of money and the importance of giving back.

Bannatyne is a Scottish entrepreneur, philanthropist, author, and former angel investor on the BBC television show Dragons’ Den. Bannatyne, 75, has worked hard for success and maintains there is no easy way to get rich.

Exclusive Q&A with Duncan Bannatyne:

Insights from the Dragon on business, success, and seizing opportunities

How has your attitude to money change over the years?

It hasn’t, fundamentally. Money is one of the most powerful things in the world and has the potential to transform lives, whether that’s because there’s an abundance or lack of it. The deciding factor always lies in how accessible or precarious it is. And then there’s the matter of how you use it. It’s important to do what you can to help others, as well as taking pride in, and enjoying, your own accomplishments. Money serves as a reminder that reaching a certain financial status is a privilege.

What’s the easiest way for entrepreneurs to make money – and the easiest way to lose it?

There’s no easy way or effortless path to financial success – it demands commitment and hard work. I’ve poured my heart and soul into my various business ventures, and they’ve been a big part of my life. One of the easiest and most common mistakes entrepreneurs make is investing in passion projects requiring substantial capital, such as sponsoring a football team or buying a private jet, and then finding they don’t have the money to keep it operational or can’t afford to fly it.

Is there one thing you regret not having invested in?

I don’t have any regrets – and that is very much my guiding principle. It’s important to be happy with the decisions you make at the time and with your position in life. What you do or don’t do is what makes you. I embrace my life’s choices and don’t dwell on missed opportunities.

What types of businesses do you focus on?

If I were to champion any businesses, it would be those that closely align with my own values. I’ve taken on a non-executive board role with the Assisted Living Project, an independent organization focused on providing assisted living accommodation across the UK.

Working hand in hand with housing associations and care providers, the project delivers housing to those who need it most. Initiatives like ALP require investors’ support to make a meaningful impact. I believe such collaborations can bring about valuable transformations in our community.

Why did you get involved with ALP?

My good friend Thomas [Williams], ALP’s founder and managing director, approached me to ask if I’d like to get involved. I loved the concept; thought it sounded like a good business doing worthwhile things to help people.

How does the Assisted Living Project help communities?

It was visiting residents that really helped seal the deal for me. I met Jay, one of ALP’s care provider tenants, who has faced challenges in the care system, moving between hostels. Thanks to their support, Jay’s life took a positive turn. He found stability, happiness and improved mental wellbeing through accommodation tailored to his needs. It truly is a heart-warming project.

Investing time and money to support these people gives me a real sense of fulfilment. To tackle housing problems for vulnerable people in the UK, we need to keep pushing for affordable and easy-to-reach housing options.

Is the UK property market a good investment or should it be changed?

It remains a reliable investment, but it does depend on the type of property. While residential purchases can be challenging, other types of properties generally offer favourable returns.

How do you like to invest, stocks and shares or riskier options like Bitcoin? I prefer a diversified approach to investment. Approximately 20 percent is allocated to the stock exchange, a small portion goes into Bitcoin (not exceeding two per cent), and the majority is invested in other options like Isas and commercial properties under Bannatyne Properties Limited.

Best advice to young people?

The world is vast, and I encourage young people to seize opportunities. I started with ice cream vans in the 1980s, worked long hours, transitioned to care homes, and now oversee sizeable companies while working a fraction of the hours. I have worked round-the-clock to be where I am today, and now I work just five or six hours in a week. I’m reaping the benefits of the hard work I put in as a youth. My one best piece of advice is ‘pursue your dreams and take hold of the possibilities before you’.

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