Member Article

Entrepreneurs Forum autumn conference celebrates the regions best and brightest businesspeople

‘Fortune favours the brave’ was the message at the Entrepreneurs Forum annual autumn conference today, as business owners from across the region came together to learn from the best decision makers in the business.

Speakers included Andrew Verity, from BBC R5 Live ‘Wake up to Money’, and Tim Smit co-founder of the Eden Project. The Entrepreneurs Forum also hosted a panel of regional experts, who were keen to share their opinions with the audience at the Hilton Hotel, Gateshead.

After their interesting and insightful debate, panelists Duncan Sanderson, John Hays, Tom Maxfield and Lisa Hart Shepherd spoke to Bdaily about the common issues North East entrepreneurs are facing.

When asked about the region’s entrepreneurial sprit, all four believe it is there – but the time has come for us to be more vocal about what the region has to offer.

“There’s still this outmoded view of the North East, and while its moved away from the cloth cap and whippets, you still get the comments – ‘It’s a long way from London’, when in reality you can be there and back in a day,” says Tom, chief executive of Tom’s Companies.

Duncan echoed Tom’s sentiments, citing evidence from a recent survey: “ We’re outperforming every other region against the odds - in SME performance, entrepreneurial growth, in innovation, in job creation, and I think its pretty well echoed by our own anecdotal evidence living here.

“This place is awash with people with brilliant ideas who are not frightened to take the risk.”

“The theme of today is ‘fortune favors the brave’ and the definition of an entrepreneur is someone who takes risks – you don’t take risks because you’re stupid, you take risks because you’re brave.”

Despite this spirit however, the panel were all in agreement that finance continued to be a barrier to growth.

Lisa, who is CEO of Acritas continued: “The process is too slow, and you often can’t afford to hang around.

“While there is some support there, for most small entrepreneurial businesses you can’t go through the hoops you need to.

“The government need to simplify it, or you’ll just have to go out there alone and do it yourself.”

Tom took a particularly forceful approach to the grants system, proclaiming them “the kiss of death”.

He continued: “If you set up a business dependent on grants - although I know it has to happen a lot in science and medical fields - then you are just gearing yourself for failure.

John agreed, adding: “ If the banks won’t lend you money hawk your idea around and talks to people with some money.

“Imbue them with the passion, get them to invest money and time in your idea, and ultimately if you believe in yourself – if you believe in your idea enough, someone else will too.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .