New enterprise allowance: entrepreneurial environment driving North East success

Posted on the 26 June 2015

New enterprise allowance: entrepreneurial environment driving North East success

Figures showing that the North East is leading the way in taking advantage of incentives for business start-ups illustrate the region’s spirit and entrepreneurial environment, according to the Entrepreneurs’ Forum.

With more than 300 member companies from across the region, employing in excess of 29,500 people and with a combined turnover greater than £1.7bn, the Entrepreneurs’ Forum is one of the UK’s leading support networks for growth businesses.

Nigel Mills, Chairman of the Entrepreneurs’ Forum, said: “The latest figures, which show that the North East accounts for one in five of those who have taken up the Department for Work and Pensions’ New Enterprise Allowance, is testament to the entrepreneurial spirit we have in this region.

“There is a pragmatism in the North East that has seen people unwilling to simply take the knocks of economic downturn in recent years. Instead, many have taken the opportunity to create something new. There is also a tremendous spirit of camaraderie in the North East entrepreneurial community, with business owners and managers willing to take time to support one another, through such methods as networking and mentorship.

“It is certainly no surprise to us that 13,500 people from the North East have taken advantage of the New Enterprise Allowance, because every day we see first-hand the drive and determination of those in this region who want to create wealth and jobs. It isn’t simply a case of ‘needs must’, this spirit is built into people in the North East.”