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bdaily goes behind the scenes of Barclays Wealth Newcastle with Regional Centre Head Andrew Miller

Andrew Miller, Regional Centre Head of Barclays Wealth Newcastle shares with bdaily the challenges, achievements and focuses at Barclays Wealth Newcastle.

What key challenges has your company recently faced?

For most businesses, the current UK and global economic conditions continue to pose a challenge. We have seen equity markets stay flat over a long period of time, as well as interest rates held at record low levels and high inflation, which can present issues for our clients holding cash assets. However, we see this as both a challenge and an opportunity to educate our clients into looking at assets with medium term growth, in order to protect them from inflation and increase their spending power.

What is your biggest achievement over the past 12 months?

We are continuing to expand, take on staff and grow our business, which is a positive indication of the growing wealth in the North East region. To this effect, we have also seen revenue and assets under management increase over the last few months across the North East, which provides another sign of improving local business and economic conditions.

What is your biggest focus for the coming year?

Our biggest focus is always looking after our existing clients, as well as supporting new clients and local entrepreneurs. Local and serial entrepreneurs will be a particular focus for us moving forward, especially where they are looking to exit existing businesses or begin new ventures, which are the areas where we can advise on and add the most value.

If you had to choose one top piece of advice for someone just starting out in business, or is currently operating within your industry sector, what would it be?

For those looking to start their own business, my advice would always be to do as much research as you can before you start out. Depending on the size and scale of your business plan, it’s wise to seek advice from professionals from the outset on how you structure your business, as this is easier than re-engineering it later on.

Can you share with us your view of the current landscape of business, in this region or generally and where your organisation sits within it?

It is clear that we are going to see continued pressure on the public sector, which will in turn affect the North East and local businesses; however the climate is not as bleak as some suggest. Talking to business owners in the region, there is still a fair amount of optimism and confidence in growing their propositions over the next few months. There is also further scope for growth as the North East becomes increasingly involved in the renewable energy sector, with more investment into wind power, and the recent news that Nissan will invest £420 million in a battery production plant and electric car manufacturing in Sunderland. This will no doubt provide a boost to the North East economy and create more employment opportunities.

This was posted in Bdaily's Members' News section by Jonny Marshall .