The awards, presented at the Royal Opera House in London, were set up to celebrate the best in the UK’s private business sector. JCB took the top honour of “Private Business of the Year” with the judges commending its strength in research and development and design engineering excellence, as well as recognising gains made in the emerging markets.

The awards, which are sponsored by PwC, in association with HSBC Private Bank, also recognised the potential of Mind Candy, which won the “Rising Star of the Year” award. The company is the creator of the “Moshi Monsters” brand, has been successful with half of the UK’s six to twelve year olds and more than 65 million children worldwide having adopted a Moshi Monster online.

Chrissie Rucker of The White Company was also recognised as Private Business Woman of the Year, impressing the judges with her business, products and mentoring work with women and her role on the advisory board of Everywoman, the UK network that helps women in business.

David Sudden of R Griggs Group was recognised as the CEO of the Year for engineering the turnaround of Dr Martens boots since he joined ten years ago.

“HSBC Private Bank is delighted to be the associate sponsor of the only national awards in the UK which celebrate Private Business.  By this I mean majority owned by private entrepreneurs, not corporates, not private equity. Most importantly Private Business deserves a bigger voice in the UK. Private businesses are an integral part of both the UK’s economy and HSBC Private Bank’s strategy,” said Charlie Hoffman, managing director, HSBC Private Bank.