THE development of apprentices and mentoring schemes have been highlighted as a key requirement in encouraging the spread of entrepreneurs in the country.
Top people’s bank Coutts and Co suggests almost a third of entrepreneurs polled in the North East regard such measures as the top priority in creating more entrepreneurs.
A fifth of those polled in the region suggested the teaching of enterprise in schools was a key driver, while 17% advocated on-the-job training and publicising tales of notable role models in entrepreneurship.
Only 20% of businesses surveyed in the North East indicated they may expand their business this year, compared to the national average of 39%.
The results came as part of a nationwide survey of 500 entrepreneurs and business owners conducted last month. Coutts and Co is the UK private banking arm of the Royal Bank of Scotland, and is one of the organisations that have backed support and advice organisation, StartUp Britain.
David Simpson, a senior client partner at Coutts in Newcastle, said: “What’s important is to get real-life entrepreneurs and business owners together with school pupils and university students to help set up apprenticeships and mentoring schemes.
“StartUp Britain has been building such connections as part of its agenda. As well as practical support like this, our own research shows that the top personal traits attributed to entrepreneurs’ success as business owners are perseverance and drive, passion and ambition.”
The survey of Britain’s entrepreneurs suggests 40% believe reduced regulation will improve the nation’s enterprise, while 20% think more support for innovation will have this effect. Half said marketing was the area in which they needed most support when setting up their business, while accounting and IT both polled 40%.