Partner Article

Entrepreneurs and regional leaders come together to shape business support across the North East

The North East Combined Authority and Entrepreneurs’ Forum have announced a new partnership designed to make sure the region’s entrepreneurs make the most of increased levels of investment and support for small business made available by North East Mayor Kim McGuinness.

Mayor Kim and the Combined Authority Cabinet this month signed off £7m to improve business support throughout the region, while last year she announced £70m of venture capital available through the North East Fund so small businesses and entrepreneurs can access the funds they need to grow, innovate and succeed.

The collaboration will focus on raising awareness of business support across the North East, while creating regular opportunities for entrepreneurs to share insight on what they need to succeed, and the barriers they face, directly with those shaping regional economic strategy.

Rather than a traditional sponsorship, the partnership is intended as an open channel between public sector decision makers and the people building businesses on the ground, helping to ensure future support reflects real-world experience.

Elaine Stroud, CEO of the Entrepreneurs’ Forum, said, “Entrepreneurs are practical people. They want support that’s clear, accessible and genuinely helpful. This partnership creates a much closer connection between those business leaders and the people designing regional support. It will help to ensure that conversations aren’t happening in isolation, and that any new programmes evolve in line with what growing businesses need.”

Reflecting the need for a thriving regional enterprise eco-system and a growing emphasis on collaboration between public bodies and the private sector, the partnership recognises the role entrepreneurs play in creating jobs, innovation and long-term growth across the region.

Phil Witcherley, Director of Economic Growth and Innovation at the North East Combined Authority, added, “Entrepreneurs and founders are playing a key role in the North East economy, driving innovation and creating jobs. They want support, that's clear, and if we want businesses in the North East to thrive, we need to understand the realities they’re dealing with day to day. Working with the Entrepreneurs’ Forum gives us a direct line into the business community, helping us raise awareness of the support available and ensuring our approach is informed by the voices of entrepreneurs themselves.” 

The first meeting between the North East Combined Authority and Entrepreneurs’ Forum members took place on 2 March, bringing together founders and regional leaders for an open discussion on the opportunities and challenges facing businesses across the region. The session marked the start of an ongoing dialogue that will help shape future support.

This was posted in Bdaily's Members' News section by Entrepreneurs' Forum .