PRIME Minister David Cameron kicked off Global Entrepreneurship Week by urging more people to "make a job rather than take a job".
With ongoing redundancies in the public sector and increasing unemployment, the importance of the entrepreneur in the North East is becoming more pronounced.
Entrepreneurs’ Forum chief executive Carole Beverley said: “With public- sector cuts forthcoming, unemployment levels continue to rise. There is an opportunity now for SMEs to grow their business. The private sector has the chance to fill gaps left by the disbanding of key public sector organisations but should also examine how growth could be achieved through recruitment of skilled workers that will enable their business to flourish and expand.”
According to BankSearch data referenced by the North East Research and Information Partnership, 16,921 businesses started between October 2009 and this September, compared to 14,870 between October 2008 and September 2009. The figures are based on the number of business bank accounts opened.
Barclays Business Regional Impact Index research released last month reveals that the North East is among the top regions in the Britain for proportion of profitable businesses, along with Yorkshire and Humberside and the East of England.
The 2009 If We Can You Can challenge winner Craig Smith, managing director of the Printed Bag Shop in Newcastle, said he was nervous of spending on recruitment despite struggling to meet demand for his products. He took a leap of faith after talking to the Entrepreneurs’ Forum, and bringing in another head allowed him to focus more on generating new investment.
He said: “As a result of the new business generated I brought on a third member of staff and the business turnover has doubled year on year. In 2010, sales are up by 89% and we are looking forward to a profitable 2010. Hiring more staff is the best thing for a growing business.”