VISION 31: The North East - A great place to do business

The North East is brimming with opportunity, innovation and ambition, offering a “really compelling” proposition and a “great place to do business”.

However, to fully realise its potential, it must overcome internal divisions, avoid “self-sabotage” and present a clearer, more unified voice to the outside world.

Those were the principal themes of multi-platform publisher NET’s latest VISION 31 event, held at the historic Great Hall of Northumbria University’s Sutherland Building.

Supported by Aon, Northumbria University, Lloyds Banking Group and rail operator Grand Central, the event marked the latest chapter in NET’s long-term mission to champion and elevate the region’s people, businesses and transformative projects, while exploring how the North East can harness its growing momentum and the opportunities presented by devolution to drive industrial and economic growth.

Hosted by NET and Bdaily editor-in-chief Steven Hugill, more than 80 attendees gathered to hear how the North East is driving growth across a range of sectors, from advanced manufacturing and clean energy to digital, defence and the creative industries, while also addressing the barriers that continue to limit its visibility and progress.

Featuring two highly insightful panel discussions, the message was clear: the region has the talent, infrastructure and ambition to compete on a national and international stage, but must do more to showcase its strengths and communicate more effectively with investors.

The first panel – A foundation for success: The power of the North East – explored how the region is nurturing high-growth businesses, with a focus on investment, innovation and the opportunities emerging across different sectors.

Panellists shared examples of progress and success, but were also candid about the challenges that remain, including access to funding, the imbalance facing female entrepreneurs and the need to better promote opportunities and connect businesses with the support they need to scale.

Audience members heard from Dr Andrew Kinewell, chief executive and founder of Kinewell Energy; Kelly M. Whitfield, founder and chief executive of KLIK SaaS™; Alasdair Greig, chief executive of Northstar Ventures; and Kate Rose, founder and creative director at TUTTI. 

Andrew, who founded Kinewell while studying for a PhD at Newcastle University, pointed to the cleantech firm’s recent growth – including securing £750,000 from Mercia Ventures – and the fact he was due to receive a prestigious King’s Award for Enterprise for international trade later that day, as proof that North East businesses can expand and compete on a global stage.

He said: “We’re a function of the North East. 

“We’ve grown through the grant funding mechanisms of the region… and that’s allowed us to develop and scale the business.”

Highlighting the region’s “unique” strengths in clean energy, Andrew added: “When you put all of those things together – the supply chain, the research, the facilities – it’s a really compelling offer.”

He also highlighted the scale of opportunity on the region’s doorstep, pointing to the potential for billions of pounds of investment in offshore wind, while emphasising the importance of collaboration across the sector.

Andrew said: “There’s up to £100 billion worth of investment that could be built out along the North East coastline – it’s huge, and we need to grab that opportunity.

“Yet no one wins unless everyone wins… you need every part of that project to come together, and that creates real collaboration across the region.”

Alasdair, who moved to the North East from Cambridge more than 20 years ago and has been at the forefront of the region’s investment landscape through his role at Northstar Ventures, reflected on how far the region has come – while acknowledging there is still more to do.

He said: “Twenty years ago, there was very little in terms of angel investment or venture capital in the North East.

“There were no venture capital funds focused on equity investment – the ecosystem just wasn’t there.

“So, we have to step back and recognise how far we’ve come.”

Highlighting how perceptions of the region have evolved, Alasdair added: “We were probably seen as a bit of a begging bowl in the past, always asking for support.

“But what we’ve done as a region is turn that narrative into real opportunity – the North East is now a great place to invest.”

Alasdair also pointed to the region’s competitive advantage, particularly around cost, collaboration and access to talent.

He said: “It can cost half as much to build a business in the North East compared to the South East, and that’s a big deal in today’s environment.”

Kelly, meanwhile, challenged the long-held perception that businesses need to be based in London to succeed, pointing to her own experience of raising investment and scaling from the North East.

She said: “The opinion that you need to be in London to build a serious business is outdated – we need to stop making that judgement.

“It’s significantly more expensive to build a business in London, whereas in the North East you can scale much more effectively.”

Highlighting KLIK’s early success, which provides a platform allowing organisations to manage multiple websites and digital estates in one place, she added: “We raised £300,000 at a £6 million valuation pre-revenue, in exchange for just five per cent equity – try doing that in London. Not a chance.”

However, Kelly stressed her experience is not universal, particularly for first-time founders and female entrepreneurs, highlighting a stark imbalance in access to funding.

She said: “Less than two per cent of UK investment goes to female-led businesses – and that hasn’t changed for a decade.”

Despite this, she pointed to clear evidence of untapped potential.

Kelly added: “Female-led businesses are statistically more successful and more efficient, so we have to close that gap.”

Calling for greater confidence and self-promotion across the region, Kelly issued a rallying cry for the North East to better champion its successes and present a more unified message to investors and the wider business community.

She added: “We need a clear message – the North East is open for business.

“We’ve got the talent, the ideas and the ambition – we just need to be more vocal about it.

“You know, I always say to my boys, it’s only the squeaky wheel that gets greased. So let’s start squeaking.”

Kate, who founded design-led jewellery brand TUTTI more than 20 years ago, and recently sat down with N magazine to reflect on her creative journey and love of the North East, spoke about building a business rooted in the region.

Having struggled to find opportunities locally after graduating, she instead chose to create her own.

She said: “I really wanted to stay here – my roots are here, my family was here – so I decided to create the job that I wanted.

“We’ve grown organically over the last 22 years, completely self-funded, and we’re still standing on our own two feet.”

While she described the North East as a “really supportive place to do business”, she also highlighted ongoing challenges around access to funding and awareness of available support.

She added: “There’s not a lot of information out there about where to go or who to speak to – that could definitely be promoted better.”

Despite this, Kate emphasised the unique strengths of the region, particularly its sense of community and the inspiration it provides, both creatively and commercially.

She said: “What’s on our doorstep inspires everything we do – from the coast to the community around us, it feeds into the whole business.”

The second panel – Investing in the North East: A springboard for growth – included insight from Kenton Bazeley, partner at national law firm Knights; James Beard, chief executive of Neptune North; Marc Brûlé-Walker, managing director at RED Scientific Reply Ltd; and Alison Gwynn, chief executive at North East Screen.

Discussion focused on the reasons why businesses are choosing to invest in the North East, with panellists highlighting its strong talent pipeline, competitive operating costs and quality of life as key drivers in attracting both organisations and individuals to the region.

At the same time, the panel highlighted the importance of building on these foundations, with a need for stronger promotion, improved infrastructure and closer collaboration between the public and private sectors identified as critical to unlocking the region’s full potential.

Kenton, whose firm Knights has grown to 32 offices across the UK and expanded into Teesside in 2021 and Newcastle in 2023, where it is now based at Bank House on Pilgrim Street, highlighted the scale of investment taking place across the region and the importance of committing to it fully.

He said: “There’s a massive amount of investment in this region, and we wanted to be part of building something here – not just dipping a toe in the water.”

Reflecting on his own journey, Kenton – who moved to the North East more than 25 years ago – said his decision to stay was driven by both professional opportunity and quality of life.

He added: “It’s a great place to live and work, even if it is a couple of degrees colder!”

In a similar vein, James explained why global tech consultancy Neptune North – a joint venture between Oliver Wyman and Rokos Capital Management – chose to set up in Newcastle in 2024, with its headquarters at Bank House.

He said: “They could have done it anywhere in the country, but having already shown what was possible here – with Oliver Wyman establishing a data and analytics team in Newcastle back in 2018 – it was the natural place to grow from.”

Highlighting the firm’s rapid expansion, James pointed to its growth to around 150 employees in less than two years, with the majority based in the North East, combining local graduate talent with experienced hires relocating to the region.

He added: “We’ve shown you can attract really high-quality talent to come and live and work in Newcastle – even for roles that didn’t really exist here before.”

Echoing a sentiment shared across the panel, James highlighted the North East’s quality of life as a key differentiator.

He said: “It’s a great place to live and work – you can do really interesting, high-quality work, and still walk home in five minutes to a flat you can afford.

“That’s pretty unique.”

Defence and data consultancy RED Scientific Reply has also recently expanded into the North East, establishing a base at NETPark in Sedgefield.

Marc explained the move was driven by both strategic and personal factors, including access to a strong talent pipeline, proximity to key clients and the opportunity to support the region’s growing defence and security sector, as well as his own desire to return to the North East and help build its capabilities.

He said: “It was a compelling move – professionally and personally – with the innovation, talent and growth we’re seeing across digital, artificial intelligence and defence in the region.”

Highlighting the scale of opportunity, Marc pointed to the North East’s role within national defence and security ambitions, particularly around dual-use technologies.

He added: “The dual-use capability here is phenomenal, and there’s a real opportunity to increase the amount of revenue generated in the North East within that sector.”

Marc also stressed that unlocking this potential will require greater national recognition of the region’s capabilities and a more deliberate effort to integrate it into UK supply chains.

He added: “The Government risks missing a real opportunity if it doesn’t extend its reach beyond the usual places and tap into the capability that exists here in the North East.”

Alison, meanwhile – a long-standing supporter of the VISION 31 campaign, who appeared on one of the panels at its inaugural London summit in 2024 – provided an update on the rapid expansion of the North East’s creative industries, following the recent announcement of a £104 million investment package from North East mayor Kim McGuinness to help unlock development at key sites including a new arena at Gateshead Quays and the Crown Works Studios in Sunderland.

She said: “For decades, the North East was barely on the map for film and TV production, but that has shifted significantly in the last few years – the momentum we’re seeing now is huge.”

Highlighting the importance of investment and infrastructure, Alison pointed to developments such as the Crown Works Studios as “game-changing” in enabling the region to attract larger productions and retain them for longer.

She said: “With the right infrastructure in place, we can bring bigger productions in, keep them here for longer and build a sustainable ecosystem that benefits the whole region.”

Alison also emphasised the role of devolution in accelerating this progress, enabling targeted support that ensures investment translates into jobs, skills and long-term opportunity for local people.

She added: “Devolution has allowed us to back the sector properly – making sure investment creates jobs, supports local talent and builds a sustainable industry for the future.”

And, in a powerful closing message, Alison highlighted what ultimately sets the North East apart.

She said: “We’ve got everything – world-class locations, incredible talent and a collaborative way of working – and that’s why the North East is now firmly on the map as a serious place to do business and invest.”

NET’s next VISION 31 event will take place in County Durham in the summer.

To secure your place, contact NET event managers Dawn Owens and Lesley Hampson at dawn@netimesmagazine.co.uk or lesley@netimesmagazine.co.uk

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