One of the North East’s top business leaders has pledged to help direct investment in the region as part of his new role as chairman of Middleton Enterprises.
Paul Woolston has taken the position at the £50m investment company, founded by high profile businessman and philanthropist Jeremy Middleton, as it aims to build its role supporting growth within the region.
As chairman of the North East Local Enterprise Partnership, he has taken the opportunity to learn more about the work of fellow board member Middleton, with whom he originally worked at PwC.
Middleton Enterprises Ltd, a private investment company, has made a substantial contribution to the North East’s economy by investing in and providing business advice to entrepreneurial businesses.
Last month, Middleton welcomed new legislation which will see financiers given a 30% tax relief on all investments into social enterprises – potentially unlocking millions of pounds of funding while enabling investors to put more money into businesses with a social conscience.
Woolston, who becomes the first chairman of Middleton Enterprises, said: “The more I have got to know Jeremy and learn about Middleton Enterprises, the more I have come to admire their ethos and ambition to invest in businesses which can help to improve the North East and generate wealth here.
“My aim is to be a critical friend to the company as it continues to develop its strategy, with the aim of Middleton Enterprises becoming a larger business that delivers upon its core values of supporting growth.”
Middleton added: “Until recently, we have been a relatively small firm with something of a family feel, but our developmental aim is to become a greater driving force for prosperity.
“Paul holds many of the same values as the business’ existing team and brings a wealth of experience, massive business connections and very good commercial judgement, all of which make him an ideal person to be our first chairman.”