Partner Article

NE entrepreneurs 'still upbeat'

The current economic climate is creating opportunities that would not normally exist for North East entrepreneurs, according to a survey of regional business owners.

Almost 90% of those questioned agreed that a time of economic downturn can offer unique possibilities, while half said the prospects for entrepreneurs in the region over the next 12 months were good.

However, nearly three quarters of respondents tempered the optimism by agreeing that having a defined business strategy was even more important in a period of uncertainty. The vast majority also agreed that national media reporting had exacerbated the current situation.

More than 230 delegates at the Entrepreneurs’ Forum Progres5ive conference took part in the survey to find out their views on a range of business issues - and some lighthearted questions too. As a group, entrepreneurs in the region are primarily wine drinkers, they relax by spending time with friends and family, they love the North East countryside but would rather drive a Bentley than the most environmentally friendly car on the road.

The skills shortage is the biggest challenge facing the region, they said, but nevertheless most admitted they would not be tempted to relocate their business.

Three quarters of the enterprises run by the surveyed entrepreneurs were homegrown, with nearly a third coming back to the region after time away to set up their business in the North East.

Chief executive Carole Beverley said: “Most entrepreneurs are in business for the challenge and the satisfaction they get from running a successful business and can maintain a positive outlook even when things go wrong.

“But the survey also revealed a degree of frustration among our members about finding the right people to help them drive their businesses forward. That, coupled with the acknowledged skills shortage, indicates that more needs to be done to encourage a wider entrepreneurial culture.”

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