ABSTRACT
The entrepreneurial spirit behind the foundation of Raleigh was Frank Bowden who was born in Bristol in 1847. Bowden's business strategy was to expand output to meet the increased demand for quality cycles. Bowden entered Raleighs in competitions all over the world, and this was used to promote the company's image. The necessity for reconstruction demonstrates the instability of the company's financial position, and in particular the problem of insufficient working capital. Raleigh shareholders unanimously agreed to the reconstruction, but this was only achieved after a hard sell by Bowden. By the eve of the First World War Raleigh had become one of the largest and most successful cycle firms in the UK. In this, Bowden's role in directing the company's fortunes was paramount, and represents a classic example of the role of personal leadership in building the reputation of British manufacturing firms.
