Deborah Meden: There’s a WhatsApp chat on Dragons. But we don’t deal with other cat videos! Dragon’s Lair

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Deborah Meaden, 63, was born in Somerset and left school at the age of 16 to study at a business school. She founded her first company at the age of 19. At 29, she joined the family company Weststar Holidays, before leading a management buyout a decade later. She now has an estimated net worth of £40 million and is a full time investor with an extensive portfolio but a particular passion for sustainability. She is best known as a panellist on the BBC One series Dragons’ Den.

Dragons’ Den is back for its twentieth series. What is the secret of his longevity? It’s one of those rare programs that can be watched by all generations, from young children who love inventions, to great-grandparents who love human stories. We are a nation of entrepreneurs. Everyone has a good idea, so they watch the show thinking: “I can do that.” It’s an inspiring show that transforms business from that dull gray thing into something creative, opportunistic, and fun.

Is there a new generation of entrepreneurs who have grown up watching the show? It’s actually very scary. So Sarah [Davies, one of the Dragons] In the den she watched Peter Jones and me as a teenager. I’m like, “Oh, please don’t say that!” Young people come up to me on the street and say: “You inspired me,” and I am often surprised at the age difference between us.

Is the street too close to you? Although I have never invested in a business when someone just walked around (laughs). I’m not saying it’s the best way to promote me, but I don’t mind it. I am happy to talk about what I love.

Does the dragon stay in touch between the series? Is there a Dragons WhatsApp chat out there already. But we don’t deal with other cat videos! run out [Jones] And we have many businesses together, so we have a lot of connections. We’ll dive in and out with all the other dragons, too.

Fourteen dragons have come and gone over the years. Who do you miss the most? Maybe Theo Paphitis. When I first joined, I sat between Peter and Theo and they put me to the test. I remember several times thinking: “If I blink now, I’m done!” Theo is a tough guy, but he’s a good guy. Our paths still crossed. Sarah Willingham became a good friend and I still see [Moonpig founder] Nick Jenkins, so I don’t have to miss them.

You are often the only female dragon. Was that difficult? I don’t see myself as a female dragon. In business, the consumer doesn’t care about your gender. They are interested in whether you got a good product or provide good service.

How many companies have you invested in over the years that have turned a profit? More than 100 companies worth around £5.5m. I’m definitely on the upside. The first business in which he invested in the show, I’m still engaged. He gave back all my money and I get regular dividends. Of course, not all businesses work. Besides, big money is often made at the exit. I’ve got three or four real multinational stars making millions of pounds, so these exits would be great. Things like the Sunday Times Rich List are rubbish. You can be a billionaire one day and bankrupt the next, as we have seen with all bitcoin users. Until you sell your work, you never really know what it’s worth.

Maiden on the dragon’s lair. Photography: BBC Studios

Are there still businesses that you regret not investing in? I am not a remorseful girl. There will always be another chance. Many people beat themselves when they do wrong. They carry a huge bag of regret and guilt on their shoulders, and they continue to carry it around for the rest of their lives. Ditch the bag and move on!

She has been billed as Den’s “Sustainability Champion” and co-hosted 5 Live’s The Big Green Money Show. Is this a long-term passion? It was the ’70s, so I’ve always been very familiar with it, but I honestly thought it was a problem for posterity. I never imagined that we would face her now.

Didn’t dragons used to call you “Swampy”? Ha, yes. Theo Swampy called me. Why thank you, Theo. Is it the way I look or what I’m talking about? But to be fair, that was about 17 years ago when environmental issues weren’t commonly discussed. Now everyone at Den is talking about sustainability, which makes me happy. Whether it’s greenwashing, I guess it’s my job to find out.

Are you optimistic about the future? I am an entrepreneur, so of course I am optimistic. We have to be optimistic because if we don’t, we will just give up. Humans are amazing when we put our minds to something. If we decide to sort this out, we can. The question is, can we do it in time? That’s why, despite my small voice, I want to keep pushing. Sometimes humans have to go into an abyss and look over the edge before they think, “Wow, wait a minute.”

Was Dragon’s Den good for British business? I think so. When I first started, I had never watched TV and let them wear a pinstripe suit and my hair was so edgy. Once I learned the ropes, I was like, “Guys, we don’t do that in business. I don’t wear a pinstripe suit every day and I don’t own a briefcase.” The business has changed and the show has played a role in that. I’d like to think we busted some myths and showed you can have fun. I have a lot of laugh lines that I’m very proud of. Take us dragons—we all look different, which proves you don’t have to be kind. There are entrepreneurs in most of us.

Do you rate other TV business shows? I know what you’re asking. Well, if you look at the nominees on The Apprentice, they’re pretty diverse. But I think it’s a very different kind of show now. I would say it’s an entertainment show with some business, while Dragons’ Den is a business show with some entertainment.

Did you ever wish Dragons weren’t summoned? Not at all (laughs). It gives people the opportunity to call me an ancient dragon, which they always enjoy.

Do you think Brexit is bad for business? It’s just. Very few companies take advantage of it. I’ve seen a lot of hurt and honestly, it bothers me. It breaks my heart when I see SMEs [small to medium-size enterprises] With basically good business struggling. Entrepreneurs find a way around them or to overcome challenges. But Brexit was just a wall put up and it was not their fault. Explosion! Now you have this whole set of problems. On top of the covid crisis and the cost of living crisis, businesses are facing a lot of punches nowadays.

What do you think about Rishi Sunak, he is a calm voice and we definitely need him. But whoever is in power now will have a hard time. It’s hard to separate someone’s qualities from the tsunami of issues they need to deal with. until [Tory MP] Charlie Walker said it was time for a change of government. I think that’s right. They need to go out and sort themselves out.

Have you ever been offered a government role? I’ve been contacted, but I’m not interested. I won’t last two seconds. The first time they tried to whip me with three lines, I’d walk out, because I’m not capable of dealing with things I fundamentally disagree with. I’m going to be a terrible politician but I think I have an important role to play in commentary. I don’t have an ax to grind it. I am apolitical. All I care about is who understands. I can only do it from the outside, not from the inside.

People double check when they see me in charity shops

What’s in the pipeline for you I’m writing a children’s book about money. It’s for kids ages 5-11, just to introduce them to things like interest and savings, but in an exciting way, to stop this dry topic.

Will you ever retire? I retired for a week, and then my husband said: Can you stop arranging the furniture? Go out and do something, because it’s driving me crazy.” I quickly realized I love working so much — why stop? Right now, work-life balance is great, so I’m going to keep at it.

How do you relax when you are not working? I ride horses, walk dogs, look at beautiful scenery and ride my way through the mist. Nature is what keeps me grounded. And if our diaries allow, I dance a few hours a week with my husband, Paul. While I did meticulously a decade ago, he took secret lessons so we could dance together after I went out, which is a beautiful and romantic thing to do. We went to Buenos Aires and did the Argentine tango. It’s great for your physique and core.

Is money the key to happiness? It’s easy to say when you have the money. Money definitely makes your life easier and relieves a lot of stress. But I know many miserably rich people. Money can be a huge source of unhappiness if you don’t handle it the right way and do positive things with it.

What is your most economical habit? It has a lot to do with the environment but we only turned on the heating in mid December because it was -5C. We held out for a long time! I am an absolute nightmare. I walk around the house and turn off all the lights. I also buy used clothes. People double check when they see me in charity shops.

What is your biggest extravagance, no doubt, animals. We are fortunate enough to have the space to rescue animals if people need it. We feed them and pay the vet bills. We have a huge selection of animals: cats, dogs, horses, pigs, sheep and many birds, including two very angry geese.

What makes the geese angry? Goodness knows – they’re living the life of the blinking Riley!

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