Judges described Mr Hackney, who collected the award at the Gleneagles Hotel ceremony, as having done a "phenomenal job in a difficult market" and praised him for "turning the market upside down" while displaying a sense of "drive and urgency".

Since taking over the reins at the Berwickshire-based sawmilling business in 2008, Mr Hackney has taken it from a loss-making company to the biggest of its kind in Britain, increasing turnover by 60% to £163m.

His aim has been to raise the profile of BSW both nationally and internationally while fiercely promoting home-grown products in the face of stiff competition from importers.

He beat 23 other business leaders to the top prize and will represent Scotland at the UK Entrepreneur Of The Year final in October.

"He brought stability to the company, successfully created two new user-friendly brands and established sound business principles all while maintaining the company’s family values," said Jim Bishop, Scotland senior partner at Ernst & Young. Meyer Timber’s Richard Lazenby was a finalist in the awards’ Midlands category.