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Newcastle entrepreneur Named in NatWest Private Banking â??Enriched Listâ??

Experts reveal the 15 faces of the new ‘Enriched’ – the men and women who are challenging the stereotypes of what it means to be affluent in the UK today

Local Newcastle entrepreneur and founder of The Printed Bag Shop, Craig Smith, aged only 28, has topped NatWest Private Banking’s ‘Enriched List’ – the first league table of its kind to unveil and rank the rise of a new kind of affluent demographic in the UK.

The study, commissioned by NatWest Private Banking in partnership with Professor Scott Moeller of Cass Business School and unveiled today, shows that the face of Britain’s affluent is changing, with the emergence of a previously undiagnosed demographic, the new ‘Enriched’ – modern successful individuals who are combining financial success with a desire for personal and career fulfillment.

Smith is part of the new league of ‘Enriched’ and epitomises this new breed of highly successful individuals who have made career choices based on lifestyle factors and a desire for personal fulfillment as much as on traditional wealth. Craig Smith, a former pipe-fitting and welding apprentice from Newcastle, started The Printed Bag Shop with his partner Lisa in May 2007 after spotting a niche in the market whilst working at his parents’ packaging company. It occurred to Craig that while the market for environmentally-friendly bags was rapidly expanding, there was no one currently offering companies a full service of design, printing and delivering for eco-friendly bags.

Smith is a prime example of how private banking has evolved significantly in the past five years, and is no longer the exclusive domain of the financial elite. NatWest Private Banking now estimates that as many as 3.27 million people in the UK would qualify for their private banking service - but that many are unaware of their eligibility. Based on income alone, 18,000 people qualify for private banking in the North East. Private banking eligibility has also significantly increased among women and those in diverse professions.

Harry Keogh, Managing Director of NatWest Private Banking, says: “Through our own customer analysis and external research, we have recognised a growing variation in our traditional private banking customer base, and have discovered an emerging breed of affluent consumers, who value personal and professional fulfillment as much as a profitable career.

“For the new ‘Enriched’ it is clear that sensible financial management is about more than just your bank balance - it’s about being able to live life to the full. These customers are now demanding a personalised banking service that is tailored to their needs and gives them the flexibility to achieve their varied goals within their chosen lifestyles.”

The 15 individuals that make up the new ‘Enriched List’ were hand-picked as some of the brightest prospects in the UK who are turning their passions, which range from buffalo farming, cake making and ethical bags, into successful and profitable careers. The Printed Bag Shop already counts Coca-Cola, The Co-op, and Johnson & Johnson among its clients.

“Having seen what it is like when businesses do not work, it is fantastic to find myself in a position where I am running my own company, in an area I am passionate about and making it a success. I always focus on the long-term and whilst The Printed Bag Shop has not made me a millionaire yet, it has given me options for the future and that has made an enormous difference to the way I live my life,” said Smith.

Commenting on the ‘Enriched’ list, Professor Moeller said: “We are witnessing a real decline in the traditional ‘get rich quick’ generation – our new breed of ‘Enriched’ evidently value quality of life as much as quantity of wealth.

“The new ‘Enriched’ not only want the same financial rewards and wealth as their parents and grandparents, but also the personal sense of achievement and fulfillment that comes from sometimes shunning traditional professions to pursue dreams, enabling them to be masters of their own personal and financial destinies.”

THE “ENRICHED” LIST1 Mark Herbert, Warp Films2 Rhodri Ferrier & Simon Duffy, Bulldog Natural Grooming3 David Courtier-Dutton, Slicethepie4 Elena Torres, Exec Air Charter5 Lucian Tarnowski, Brave New Talent6 Craig Smith, The Printed Bag Shop7 Steven Mitchell, Puddledub Buffalo8 Paul Farley, Tag Games9 Omer Shaikh, Friction.tv10 Mark Gilchrist, Game for Everything11 Chris Larkin and Sarah Dennison, So Baby Organics12 Farhaan Dawood, Retail Gateway13 Sophie Constable, Daisy Hill Cake Company14 Francesco Mosca, Camiceria di Como15 Adam Duffy, Looks Can Kill

This was posted in Bdaily's Members' News section by Ruth Mitchell .