2003 - Sufyan Ismail and Bashir Timol (1st Ethical)
The 2003 Shell LiveWIRE Young Entrepreneur of the Year Award (North West) was won by Sufyan Ismail and Bashir Timol and their business 1st Ethical.
1st Ethical is the UK’s first ever firm of tax planners and financial advisers catering exclusively for the Muslim community.
Many Muslims are reluctant to access basic financial services because Islamic principles prohibit the giving and receiving of interest monies, which are a standard feature of most investments. Many conventional legal products, such as preparing a Will, are also problematic because Islamic principles require assets to be distributed in a predetermined manner on death.
The business started when Sufyan Ismail came up with the concept while working for a national accountancy firm. Bashir Timol joined Sufyan from another top UK firm and 1st Ethical was born.
Bashir Timol (left) and Sufyan Ismail (right) of 1st Ethical
1st Ethical has developed a range of tax mitigation solutions, ranging from Trusts and Pensions, to Wills and Inheritance Tax planning, which work in harmony with the Islamic faith, while also compliant with UK law.
The company has enjoyed exponential growth since incorporation in November 2001, and in 2006 had a nationwide team of 25 employees, with an annual turnover exceeding £4 million.
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To find out more about how you could be walking away with the £25,000 Shell LiveWIRE Young Entrepreneur of the Year Award please go to our Awards page.