Ms Ridley founded Careshare to provide daycare for pre-school children and out-of-school care in 1989. The group now has ten units and aims to dominate not only Scotland but also to move into childcare in the north-east of England.
Ms Ridley says she aspires to make the group one of the UK's top three and has secured 11.5m funding from venture capitalists 3i to further her ambitions.
She founded the group following a career in personnel management. On returning to Britain after a stint working in America, she was inspired to set up a nursery group by the lack of provision for her own children. She was also influenced by having seen how childcare services are run in the US, where the private nursery market is older and more established than in the UK. Careshare has adopted a US style of management, with a centrally managed administration department and regular contact between centre managers.
However, Ms Ridley initially came up against problems getting funding for the project. Her business plan was rejected repeatedly, and she was told that she had an excellent concept and a rational business plan but that there was limited market research and statistical information available. The breakthrough came in 1990, when the Bank of Scotland agreed to support the development of a 70-place purpose-built nursery in Livingston, Lothian.
The Ernst & Young Entrepreneur of the Year Awards is a regional, national and international annual awards programme that identifies the achievements of entrepreneurs within successful businesses. Regional award-winners will be announced on 15 October.
