Key Takeaways
- Sir Alec Reed was a British businessman and philanthropist who built a successful employment agency and changed the face of British philanthropy through his Big Give organization.
- The Big Give website helps potential donors find suitable charities, and its Christmas Challenge has raised a record £44.7m through match-funding.
- Reed’s own foundation, the Reed Foundation, draws its funds from its holding of 18% of the Reed group and has assets and investments of over £25m.
- Reed was knighted in 2011 for services to business and charity, and he wanted to be remembered as "someone who laughed a lot and attempted to improve the lives of others."
- He established several charitable enterprises, including Addicts Rehabilitation Charity (ARC), Reed Restart, Womankind Worldwide, and Ethiopiaid.
Introduction to Sir Alec Reed
Sir Alec Reed, who passed away at the age of 91, was a renowned British businessman and philanthropist. He is best known for building a hugely successful employment agency, one of the UK’s largest private businesses. However, his impact on British philanthropy is equally significant, particularly through his innovative organization, the Big Give. The Big Give is an online platform that connects wealthy donors with charities, making it easier for them to find and support suitable causes. This approach has revolutionized the traditional pattern of charities searching for donors, and the results are impressive, with the Big Give’s Christmas Challenge raising a record £44.7m in 2024.
Early Life and Career
Reed was born in Hounslow, west London, in 1934. His early life was marked by a resourceful and entrepreneurial spirit, which would later become a hallmark of his business career. At the age of 10, he and his brother launched a business selling toy soldiers made from lead collected on bomb sites. Although he did not excel in school, failing his 11-plus and struggling with his first school report, Reed’s determination and innovative thinking would eventually lead him to succeed in the business world. He left school at 16 and worked as an office boy before being called up for national service in the Royal Engineers. It was during this time that he developed his business acumen, brokering a profitable new contract for the bus services that served the base.
The Founding of Reed Employment
Reed’s breakthrough came in 1960 when he set up his own recruitment agency in Hounslow, using £75 from his Gillette pension savings. The business quickly took off, with Reed opening 10 branches within three years and becoming a familiar name on high streets. By 1969, he had 75 branches, and in 1971, he floated the company on the stock market, retaining a third of the shares. This marked the beginning of Reed’s successful career in employment, which would eventually lead to the establishment of one of the UK’s largest private businesses.
Philanthropic Efforts
Reed’s philanthropic efforts began in his 20s when he volunteered to assist drug addicts. This experience led him to establish Addicts Rehabilitation Charity (ARC), which aimed to help former addicts into work. He went on to establish several other charitable enterprises, including Reed Restart, Womankind Worldwide, and Ethiopiaid. In 1972, he established his own Reed Charity, which was reconstituted in 1985 with a £5m profit from the sale of a chain of pharmacies he had built up. The charity, now known as the Reed Foundation, has assets and investments of over £25m and draws its funds from its holding of 18% of the Reed group.
The Big Give and Later Life
Reed’s Big Give organization has been instrumental in changing the face of British philanthropy. The website helps potential donors find suitable charities, and its Christmas Challenge has raised millions of pounds through match-funding. Reed’s aim was to make it easier for wealthy people to become significant charity donors, and his innovative approach has been highly successful. In his later life, Reed continued to be involved in his business and philanthropic efforts, handing over the reins of his employment agency to his son James in 1997. He remained an active and sometimes critical executive chairman until becoming non-executive in 2000. Reed is survived by his wife, children, 11 grandchildren, and four great-grandchildren.
Legacy
Sir Alec Reed’s legacy is one of innovation, determination, and philanthropy. His impact on British employment and philanthropy is significant, and his Big Give organization continues to make a difference in the lives of many. Reed’s own words, "Without business there would be no charity – but without charity, what’s the point of business?" sum up his approach to life and business. He will be remembered as a man who laughed a lot and attempted to improve the lives of others, leaving behind a lasting legacy in the world of business and philanthropy.
