Scottish entrepreneur Mike Welch, who amassed a fortune as an online tyre retailer, has revealed he might have pursued a career in funeral services had it not been for a crucial intervention during his teenage years from a charity founded by King Charles III .

Struggling with college entry exams as a dyslexic teenager from a working-class background, Welch left school at 15 and took a job installing tyres. After losing that position, he found himself at a Liverpool job centre, facing a stark choice. The job board presented two very different paths: a listing for a funeral director – a "great career," he concedes, but "pretty grim" – and an advertisement for a charity event offering business grants to aspiring entrepreneurs.

Welch opted for the latter. Less than 24 hours later, he was in a church, surrounded by vintage furniture and friendly grandparents.…