Henry Williams, managing director of Morgan and Lotus business Williams Automobiles, has been named as the Federation of Small Businesses (FSB) and Worldpay’s Young Entrepreneur of the Year.

Williams took over the family business three years ago transforming it from a volume group to a specialist sports car retailer.

Williams said: “The business has had a rollercoaster of a ride since it began 103 years ago. It survived World War One and Two, but it was the recent recession that hit the business hard. My father wanted to take a step back from the company so I took over the reins and reinvigorated the business.

“My goal was to bring all the best practices from a larger business to a low-cost, but user-friendly retail environment.”

Williams was featured in an in depth interview in AM earlier this year.