“I find it quite amusing to be running a technical business with no formal qualifications,” she says.

In fact, Box Telematics, which delivers wire-free telemetry technology, isn’t Reynolds-Lacey’s first successful venture. The company was spun out of The Mobilefone Group, which she started in 1989 to provide mobile phone, paging and private mobile radio systems.

Reynolds-Lacey’s flamboyant entrepreneurial grandfather inspired her to go into business. She says: “My mother used to tell me tales of her late father, who owned a snooker hall, drove a big limo, gambled on the dogs and drank too much whisky. He seemed really colourful so at the age of nine years, I decided I wanted to drive a big limo too! I’m now on my fifth Bentley.

“It wasn’t until only a few years ago that my mother confirmed that my grandfather had inherited the business from his aunt. The whisky eventually got the better of him and he lost the whole lot, only leaving my mum and her sisters shares worth about £500.”

The recession has fortunately yet to have an impact on Box Telematics. “I am fortunate that there are three operating divisions to my business: after sales of mobile phones, manufacturing and asset monitoring/tracking," Reynolds-Lacey says. "Therefore, we’ve spread our risk and I have not seen any signs of the downturn affecting us so far.”

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