Sir Alfred was educated at Emmanuel College, Cambridge and after the death of his father in 1929 he became, jointly with his brother, managing director of the Rubery Owen Group.
In 1970 Alderman Sir Alfred Owen was made Freeman of the Borough of Sutton Coldfield, and was the last person to hold this honour.
He was proprietor of the BRM motor racing team from the early-1950s to 1974, when it was passed to Louis Stanley, who had married his sister Jean.
His father had bought the New Hall Manor estate in Sutton Coldfield in 1923 which remained the Owen family home until Sir Alfred's death in 1975.
The Rubery Owen Group spent several years looking for a use for New Hall, including offering it to the National Trust, before it was eventually put up for sale.