Steven Smith - Nachural

steven smith

(founder of poundland)

Keynote Speaker at Nachural Summer Business Dinner & Awards 2023

Steven Smith founded Poundland in December 1990, changing the British High Street and the way people shop. Eighty five percent of all people in Britain have been into a Poundland store. His Dream was for Poundland to turn over a billion pounds a year.

Steve’s theory is that if you get the pricing right, everything sells and that there are no such thing as bad products, only bad prices. The the first Poundland store opened on 13th December 1990 in Burton on Trent with 648 SKU’s and sold over 13000 items on the first day. The idea of Poundland was born when Steven started work on his parent’s Bilston market stall in the West Midlands, any items that came out of its original packaging was thrown in a carboard box and sold for 10 pence. This box took more money than everything else on the market stall.

As a young boy Steven used to work on Bilston market on a Saturday and then in the week after school at his dad’s cash and carry Hooty’s in Tipton. Steven left school at the age of 16 and set up his first shop when he was 17 in West Bromwich, the shop was called “Steve’s Discount Market, and this shop in the first year of trading 1983 took over one million pounds. Steven travelled the world to find great value for money items to sell for a pound, he opened offices in Hong Kong, China, and India, he grew the business, whilst his wife Tracy oversaw HR and payroll. He employed more than six thousand people and treated everyone with respect, he always used to say employees and suppliers are as important as customers.

He sold the majority of Poundland in 2001 for 50 million pounds and the remaining balance of his shares in 2006 when Poundland was sold for 200 million Pounds. It is amazing that everyone used to say Poundland would never work and yet here we are today 33 years since the first store opened, Poundland has gone from strength to strength and opened many stores in other countries.

The Market place is now worth over 6 billion pounds a year. Steven recently sold the online business that he set up seven years ago in the West Midlands to Poundland. Steve’s profile has risen considerably. In addition to this, there was a “Real Stories” programme about him on ITV1 and he and his wife Tracy were seen house hunting in the recent “Million Pound Properties” series on Channel 4.

Steve is also regularly interviewed on national and local TV and radio and in numerous newspapers and magazines. He was invited to 10 downing street to discuss with the prime minister about business in the UK. As a result of his phenomenal success, he has won many awards including Britain’s Best Boss and met many people including the Queen. Steve is now involved with bridging loans, mortgages, workforce management, mobile payment software and renting out property. He has helped many people make their business dreams come true and become millionaires.

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