The accolade comes 12 months after the UK's largest training provider was awarded the title of New Company of the Year.
Rodney Westhead, chairman of Carter & Carter Group, said: "I am absolutely delighted at Phil's well deserved success as ‘Entrepreneur of the Year’ which was undoubtedly due to his exceptional ability, foresight and leadership in the development of the Carter & Carter Group.
"We have made good progress under Phil’s direction and we have an exciting future ahead."
On receiving the award, Phillip Carter said: "It is a great honour and one that I am very proud to accept, not only for myself but on behalf of all our learners, customers, stakeholders and our high achieving staff members within Carter & Carter Group."
Carter founded Carter & Carter in 1992, following a career in the sales, marketing and business development at ICI. Initially the company was focused in the UK accident repair market, which quickly spread to expansion into the US and Australia in 1996. The group provides support services to 26 vehicle manufacturer brands and their dealership networks.