The £250,000 was shown on stage after a firework display

John Caudwell, the multi-millionaire owner of the high street mobile phone retailer, Phones 4u, set out on Thursday what he is calling the retail industry's largest staff incentive scheme.

Following a spectacular indoor fireworks display, Mr Caudwell led four security staff on stage with suitcases packed with £250,000.

Twenty-five sales directors, among hundreds of Phones4u workers attending a company conference, were then told they could earn as much as £1m in bonuses if they hit their targets.

Anybody could do it John Caudwell

The money will not be a problem for Mr Caudwell - he recently raised more than £400m from the sale of another of his companies, Singlepoint.

He said: "I started off as an engineer with a bag full of spanners and here I am now.

"Anybody could do it - well not anybody could - but a lot of people could do it.

"It just needs the will, the determination and somebody to give them the opportunity."

Mr Caudwell said another £10m has been set aside for sales and shop managers.