Wellington, Nov 30 NZPA - Jeweller Michael Hill has won another award for achievement in business -- the Beacon Award from the New Zealand Shareholders' Association.

Mr Hill received the award today at a lunch, which was also attended by last year's winner Bruce Plested, the founder of Mainfreight.

The association cites leadership and guidance in corporate practice, bravery in standing out from the crowd on controversial issues and treating the smallest shareholders with respect as deciding factors when making the award.

In 2008, the founder of Michael Hill International was the New Zealand Ernst & Young Entrepreneur of The Year.

The story of how Mr Hill built a business that aims to have 1000 stores globally by 2024 from one store is well known.

The simple U-shaped layout of the stores and accessible product range were the secrets of the success.

Next week the Shareholders' Association awards its less sought-after Golden Glob award. Last year the winner was former Hanover Group chairman Greg Muir.