EF News magazine (Nov 2014)

Dates for your DiaryOur 2015 events unveiled.

Together we can take on the world.

ENTREPRENEURS’ FORUM

EF NewsEntrepreneurs’ Honouredat 2014 North East Entrepreneurial Awards.

MentoringPeer to peer mentoring is the key to success.

Forum FocusA look into the world of serial entrepreneur David Frame.

56691 GW EF November Quarterly Magazine.indd 1 14/11/2014 14:37

Togetherwe cantake onthe world.

23YOUR FORUM.Welcome to our new members.

04COVER STORY. North East entrepreneurs honoured. 06

BUSINESS TRACKER SURVEY.Optimism soars amongst entrepreneurs. 08

MENTORING.Peer to peer mentoring is key to business success.

12MEMBER NEWS.Entrepreneurial news and updates from across the region. 15

EXCHANGE.For businesses who believe people are their greatest asset. 16FORUM FOCUS.

David Frame, Nine Works.

18DATES FOR YOUR DIARY.2015’s spring events programme unveiled. 20IN PROFILE.

growth Capital Ventures. 22

IF WE CAN, YOU CAN.A new lease of life for 2015.

Contents

2


Welcome

AS MY FIRST TIME WELCOMINg YOU TO EF NEWS, I THOUgHT WHERE BETTER TO START THAN CHANgE. ANY STRONg BUSINESS HAS TO BE READY FOR AND ADAPTABLE TO CHANgE, AND THE FORUM IS NO DIFFERENT.

Our recent changes have come at a time when the face of Forum membership is also changing. I know entrepreneurs love ‘the numbers’, so here are some fascinating figures that show just how far we’ve come and who you – our members – now are.

We started in 2002 with 40 founding members and a staff of just one. Now we have 300 members, a board of 10, a staff of 7, 14 corporate partners and 14 exchange members.

Virtually every sector is represented among our membership from engineering to event management, media to medical, leisure to logistics. Property, technology and retail are also well represented, along with manufacturing, marketing, finance and pharmaceutical. So whatever business you’re in, you’re in good – and in many cases – new company.

A new generation of entrepreneurs are gaining real value from their membership, but they’re not just the emerging talent. We’ve welcomed a number of owners of exciting, established businesses who are keen to share their knowledge and also see much to be gained in connecting with others and learning more of the innovations going on across the North East.

Nearly a third of our members’ organisations boast turnover of between £1m and £5m, while 15% are at £10m+. At the other end of the entrepreneurial journey, 21% have turnover of up to £500,000. Average annual turnover among members stands at a phenomenal £9.6m.

www.entrepreneursforum.net

Gillian Marshall

Ambition and innovation come in equal measure, regardless of business size, and our entrepreneurs are especially strong on exports with 39% trading overseas compared to 20% of other North East businesses.

The unique platform we provide for sharing experiences, making new connections and gaining ideas is valuable to everyone at any stage of their business. If you haven’t been to an event for a while, I’d urge you to come along and see the fresh face of the Forum; you never know where it could lead.

We’re now well into our autumn season of events, which got off to a fantastic start with our annual awards celebration of the very best in North East entrepreneurship.

We’ve had mentoring surgeries and round table debates, and October saw a full calendar of member events and focus dinners, with some great national, international and local success stories.

We’ve got behind the local media’s Pay Fair campaign to raise awareness of the damage slow payment can cause to SMEs, and we’re continuing to drive home the importance of mentoring, which we believe is critical in helping to lift the region’s economic performance.

Now we’re looking ahead to our annual Fortune Favours the Brave conference on 20th November with one of our most diverse and interesting speaker line-ups to date; and I do hope you will join us.

Best wishes,

Gillian Marshall,Chief Executive


North East Entrepreneurs Honoured

ENTREPRENEURS LEADINg HIgH gROWTH BUSINESSES IN THE HEALTH AND CARE SECTOR HAVE BEEN RECOgNISED FOR THEIR SUCCESS, TAKINg THE SPOILS IN OUR PRESTIgIOUS ANNUAL NORTH EAST ENTREPRENEURIAL AWARDS.

UNIQUE BECAUSE THEY ARE PRESENTED TO ENTREPRENEURS BY ENTREPRENEURS, OUR AWARDS SAW DAVID LYNCH, OF LYNCH HEALTHCARE, AND IAN WATSON, OF HADRIAN HEALTHCARE, BECOME

THE TOAST OF THE NORTH EAST ENTREPRENEURIAL COMMUNITY WHEN MORE THAN 300 FORUM MEMBERS AND gUESTS PACKED INTO THE HILTON NEWCASTLE gATESHEAD TO CELEBRATE A YEAR OF gROWTH AND TO HONOUR THE CREAM OF ENTREPRENEURSHIP.

HOSTED BY RADIO PRESENTER AND COMEDIAN ALFIE JOEY, THE AWARDS WERE THE CLIMAX TO A FANTASTIC EVENINg, WHICH INCLUDED A STANDINg OVATION FOR SIR JOHN HALL AS HE WAS RECOgNISED WITH THE AWARD FOR LIFETIME ACHIEVEMENT.

EMERgINg TALENT:

In the Emerging Talent award, David Lynch was up against Charlotte Prenelle, of Pranella fashion accessories brand, and Martyn Young, of Sunderland-based First2Print.

Lynch Healthcare is a leading specialist manufacturer, supplier and installer of disability products for moving and handling patients. Customers include the NHS, nursing homes, local authorities, special schools and private clinicians.

It launched its manufacturing division this year and has created its own brand of patient slings, made at its factory in Sunderland, which is expected to have great export potential to Europe and the Far East.

David said: “There have been many times when I’ve thought ‘am I doing the right thing, should I change the strategy, should I change the vision?’ But we’ve stuck with it and now we have a fantastic team which has made all the difference.”

ENTREPRENEUR OF THE YEAR:

Ian Watson faced high-performing competition for the title of Entrepreneur of the Year in Andrew Esson, of Quick Hydraulics; Dean Benson, of Visualsoft; and Bryan Bunn, of Nortech Solutions group.

A family business, Hadrian Healthcare owns a growing group of ten luxury residential, nursing and dementia care homes for the elderly in the North East and Yorkshire.

Ian started the business in 1992 after a career in banking, before selling it, starting another healthcare business that he also sold, then re-establishing the Hadrian Healthcare brand in 2007. It now employs 700 staff.

“As an organisation we put ourselves at the forefront in being innovative in care techniques, in the environments we provide and in the manner in which we deliver care,” said Ian.

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LIFETIME ACHIEVEMENT:

Offering clues to the winner before revealing their name, his friend Sir Peter Vardy, co-founder of the Forum 12 years ago, described Sir John Hall as “a colossus of North East business”.

Sir Peter, who won the same award last year, added: “Sport or shopping, our winner has been the inspiration behind the icons. Their impact goes beyond the thousands of jobs that their entrepreneurialism has spawned. They have changed the very landscape of the North East, where the physical symbols of their success are embedded in the social fabric of our region and will last for many years to come.

“But their legacy goes beyond just physical buildings. It’s a legacy that shouts ambition, hope, a passion for the North East and the kind of fighting spirit that fills this room tonight.”

The award came in the year that Sir John is celebrating 50 years since establishing his business, Cameron Hall Developments, which developed the Metrocentre.

Acknowledging the contributions of entrepreneurs to the North East, Sir John said: “There’s a gene inside you: you want to do things, you want to make change. It’s something special we all have as entrepreneurs.

“Receiving this award from my peers, my fellow entrepreneurs, is very humbling indeed and I will treasure it in the years to come. I will take it home to Northumberland.”

Sir John said he was “sad at times” because he did not believe the necessary changes the region needed had been made.

“All the money that’s been spent on health, education and enterprise, we are making changes, but I don’t think we have gone far enough, hard enough.”

“I have lived through so many initiatives. But unless we get some stability and strategy for the region I am quite convinced in 50 years’ time people will be talking about the same problems.”

He told the entrepreneurs in the audience they needed to create a culture of enterprise to make “the dramatic changes” the North East needs to progress.

“You are the custodians of enterprise in this area. You need to get out there and mentor. New businesses are starting all the time. If you don’t go and help the new starters and we don’t get the SMEs to grow and create the jobs we won’t make the progress we need to make.”

Referring to the benefits promised to Scotland for remaining part of the United Kingdom, he said: “I used to be British. Now I am English and I am North Eastern. I want to hold Cameron to account. I want to be able to say we have a future for our place.

“We need the politicians and leadership who are going to carry this region through. They have not made the dramatic changes which are needed in this area and if the politicians aren’t going to do it, the private sector has got to take up the challenge.”

Sir John Hall will be helping to kick off the Forum’s 2015 events programme as our special guest speaker at The Chairman’s Dinner on Wednesday 21st January 2015, Jesmond Dene House.

For more information and to book your place, visit www.entrepreneursforum.net or call the team on 0191 500 7780



...AS ENTREPRENEURS CONTINUE TO REPORT POSITIVITY IN THE ECONOMY, ACCORDINg TO THE RESULTS OF OUR RECENT ENTREPRENEURIAL BUSINESS TRACKER SURVEY.

Covering the second quarter of 2014, our survey saw positivity throughout all of its key indicators. Compared

Business Tracker Survey

with the figures for the same quarter in 2013, entrepreneurs painted a positive picture of all aspects of

business, including sales, profits, employment, wages, spending and prices.

6

REMUNERATION, PRICES & CAPITAL EXPENDITURE ARE ON THE RISE...

KEY FINDINGS INCLUDED:

• Overall sales: 59% reported an increase (fig.1), while 25% said levels had remained the same

• Export sales: 28% saw an increase (fig. 2), while 47% saw a retention of Q2 2013 levels

• Actual profit: An increase was reported by 53% (fig. 3), while 24% said levels were maintained

• Employee numbers: 46% reported an increase in employment (fig. 4), with 46% saying levels had not changed

• Remuneration: 55% reported an increase, 43% said levels were the same

• Prices: 24% reported an increase, while 68% said levels had remained the same

• Capital expenditure: An increase was reported by 45%, and 45% said levels had remained as they were

Fig. 1:

Fig. 2:Fig. 2:

Fig. 3:Fig. 3:

Fig. 4:Fig. 4:Fig. 4:

55%witnessed

an increase in remuneration

24%witnessed

an increase in prices

45%witnessed

an increase incapital expenditure



Looking forward to the third quarter, optimism was high, particularly with regards to overall sales, with 78% expecting an increase, and 70% anticipating greater actual profit.

Entrepreneurs also identified challenges and barriers to growth, including finding skilled staff, connections to and from the North East in terms of choice and cost, and finding the right financial package that suits the business.

Nigel Mills, chairman of the Entrepreneurs’ Forum, said: “The outlook amongst entrepreneurs, who are one of the key drivers of our economy, remains positive, although we continue to see those challenges to growth around staff, transport and finance.”

“It’s true there are challenges and opportunities on the economic horizon, including future devolution of powers, a general Election and the levels to which interest rates will rise over the coming months. However, our survey of entrepreneurs shows that they are rising to the challenges

and taking advantage of the opportunities presented to them.”

Among those firms confident of growth is geocore Site Investigations of Redcar. Founded in 1998, the firm now employs 25 people and has a turnover of around £2.4m.

The firm has recently invested £1.5m in three rigs, unique to the UK market, to drill bore holes for ground source heat pumps in the domestic and commercial markets.

Managing Director Adam Woodhead said: “We have been operating in the ground source heat pumps market for ten years and these new rigs, which are innovative and allow our teams to work faster, expand the scope of work we can conduct. The advent of such incentives as the government’s Renewable Heat Incentive, which essentially pays people to use renewable technology such as heat pumps, has given us the confidence to invest in this market.

“While much of our work is in and around the London area, we were recently engaged by a Teesside-based transport company to work on its new warehouse, drilling 70 bore holes, each 150m deep, and this is something our investment has enabled us to do.

“It is great that the growth of the company is also opening up opportunities to work more in our native North East, having previously been mainly in the South since the recession. This is heartening, because it indicates positivity in the North East.”

“Our membership of the Entrepreneurs’ Forum has been one of the key reasons why our business is growing. We’ve found that being part of the Forum community has brought real benefits to our business.”

The Entrepreneurs’ Forum Business Tracker Survey is conducted by and © of Acritas 2014.

Our entrepreneurial business tracker survey is conducted and compiled by leading research specialist Acritas.

The survey not only provides us with the information we need to demonstrate what is happening in the North East entrepreneurial community, but it also helps us with our event planning and is used by many of our partners to influence government and other regional stakeholders.

The next wave of the survey is due out on 7th January, so please keep a look out for it in your inbox, as we’d be very grateful if you could take a few minutes to complete it.


Mentoring

8

MENTORING MUST COME FROM EXPERIENCE, NOT A TEXT BOOK.Peer to peer mentoring is a key part of the support we offer to our members, and we often hear about how much they hugely value the opportunity to work with, and be guided by, people they respect for their experience and know-how.

In the world of business, there are those who believe mentoring can be learned and delivered by people as a career choice, regardless of their level of experience. There are also those who do not believe this makes for the best possible experience and results for the mentee.

We fall into that latter category, and it was heartening to hear this viewpoint voiced recently by Sir John Hall, a man who has been there and done it all in the North East business world.

Sir John was receiving our Lifetime Achievement Award, and his acceptance speech reflected the need for mentors of entrepreneurs to themselves be experienced entrepreneurs who have had their hands dirty, learning and achieving success in business.

An article in a national Sunday newspaper recently gave voice to a number of people who had used mentors who were appointed by organisations backed by

the government. Whilst it is of course highly commendable that the government is looking to support entrepreneurs in this way, the feedback given from this limited sample of users was not overwhelmingly positive.

For example, some talked about how their appointed mentor had little experience, less than the mentee, and almost none of being successful in business. While the enthusiasm and willingness of the mentor in question is to be welcomed, one must question the value of the process if the mentee has nothing to learn from the relationship.

In reality, it is one thing to understand the theory of business, but the real experience gained ‘at the coal face’, so to speak, is the source of the added value that turns an okay, or even a good mentor into a great mentor who will really help an entrepreneur to learn and develop, not only as an individual, but also with their business and ideas.

The concept of an appointed mentor is also one which is divisive. Whenever possible, a mentor should be chosen, with the mentee having the final say. Chemistry is very important. For those newer entrepreneurs whose networks are not yet developed to

the point where a choice is available, there is, perhaps, a place for such an offering.

However organisations, like our own, which help to build that network and also encourage mentor-mentee relationships, create multi-faceted opportunities for personal and professional development.

It is often the case that a mentee should choose a mentor to whose achievements and standing they can aspire. Here in the North East we are blessed with a large number of entrepreneurs who are not only the type of individuals you would wish to emulate, but who are willing to help others to achieve their goals.

The Entrepreneurs’ Forum encourages this through our mentoring programme, and we have seen some encouraging results, with members flourishing thanks to the support of their peers.

This willingness to support one another within the business community is a trait which not only benefits the individuals, but it also provides a boost to the regional economy by creating strong organisations and industries.



THE MENTEE:

Jane McCarthy established Lansdowne Clinic with her husband Dr Stephen McCarthy ten years ago during which time it has grown into Newcastle’s biggest independent provider of psychology services.

As well as private client services to individuals and healthcare providers, the practice also does medico-legal work, predominantly in the field of personal injury, and provides corporate services. The business has four full-time staff and a network of associates.

Jane and her colleague Dr Jen Cottam are now launching a new business Talk Works, which straddles clinical and organisational services by providing professional services in the corporate market to support employee engagement and staff well-being. It was in establishing the new business, in particular, that Jane was keen to seek the support of a mentor:

“Entrepreneurs’ Forum events are great but I didn’t feel comfortable using them to raise specific issues about my business. I wanted the chance to have confidential, in depth conversations where I would share things one-to-one that I wouldn’t wish to share in an open forum. It’s individual supervision in effect.

“In our main business we are people-centered clinicians in a professional practice; we’d never want to lose that but at the same time we are a business and have to keep an eye on the bottom line.

“We’re a professional practice that became a business almost by accident, and there is a strain between the two.

“The new venture comes from the other direction, being a business first that’s underlined by professional practice. We looked at what value we could bring to businesses. We understand a lot about the effect on productivity if people aren’t engaged in their work and that’s where we can offer professional expertise. There are parallels with guy’s business - we offer a service that’s about improving employee satisfaction and his is about customer satisfaction.

“Mentoring is also about learning. guy has been able to offer some handy hints as we’ve started the new business and I’m quite good at responding and implementing. On my to do list, for example, guy gave me some ideas to add in and he’s given me a timeline to work to. He’s done other helpful, practical things like looking at our business plan, which he complimented us on but also picked

up some omissions. He’s done some nifty financial analysis and looked more critically at our figures. One of the most important things he’s reminded me of is how long it takes to start a business and how hard it is to extract time to do the groundwork when you are already running a business.

“I don’t see mentoring as an equal relationship. I like the idea of a mentor who is experienced and that bit further down the line in establishing their business. The chance to have in depth conversations with someone like that, who knows the ups and downs, is probably the most important thing I’ve got from being a member of the Forum.

“I’m used to working with the NHS where appointments are made in blocks of six. Rather than stop after six sessions with guy I’d like to continue meeting with him over a couple of years, at less regular intervals but always knowing we could continue fine-tuning, in other words long-term mentoring.”

Jane McCarthy

CASE STUDY: JANE McCARTHY MEETS GUY LETTS


Mentoring

10

THE MENTOR:

guy Letts spent 14 years at Sage plc as R&D director and head of services before leaving to start his own business, CustomerSure, in 2010 and launching its product to the marketplace in 2011. In the same year he was a winner in the Forum’s If We Can, You Can challenge and was a judge in the competition in 2012.

“One of the biggest benefits of mentoring is that it’s a two-way street. If you don’t go into it alert to the fact that you might learn something then you are missing one of the huge benefits. Indeed, it’s a potential weakness if you go in thinking you know all the answers - someone like that would be quite frustrating to have as a mentor because it becomes like a parent-child relationship and it undervalues the experience of the mentee.

“One of the best lessons I learned as a manager is the difference between coaching and telling. Experience comes into play, not by telling the answers but by knowing the right questions to ask. If the relationship isn’t balanced there is a risk of it becoming a dependent relationship. You don’t know that person’s field as well as they do or their personal goals. At its best, the answers come via the mentee from the mentor asking challenging questions; the goal is always to help them arrive at the answers themselves.

“I’d taken part in the Forum’s mentoring drop-in sessions and mentor training and done some internal mentoring at Sage, but this is my first ‘full’ mentoring role. I’d previously benefited from the experience of the great and the good of the North East business community. If people feel now that they can benefit from my experience then I’m happy to offer it. The spin-off is that you also learn from doing it and it’s time out of the office.“

“It forces you to step back from your own business; the time I spend reflecting on my business travelling to and from a meeting with Jane is invaluable. It’s very difficult to make time to work on your business when you’re working in it. It reminds me of the importance of being ruthlessly clear about who your target customers are and who can benefit from your services, about being practical and honest about what’s necessary and not ducking important issues; we all have a comfort zone where we like to work but there are other important things we need to do in business that we gravitate away from.

“I didn’t know Jane before Michael Dixon introduced us. Jane’s business is about employee well-being and our business is about customer well-being; how we achieve it is very different but it’s two sides of

the same coin. It’s a very rewarding experience, a privilege and a pleasure to meet somebody who’s an expert in their field. I find it really enjoyable and refreshing to learn from somebody who’s accomplished. It’s fun. We are very different people but in our professional values it’s a meeting of minds. Jane’s background is in healthcare and the public sector whereas I’m very private sector, so it’s a helpful interplay.

“We meet every six weeks. I wait for Jane to contact me and ask me back. I’m happy to do it for as long as she gets value from it. In mentoring it’s important that either side has the opportunity to gracefully exit for any reason. A good example is how Ivan Lendl and Andy Murray have parted company - it was a case of Lendl’s work was done and it was time for someone else to come in. I have a range of expertise, but it’s not the full range of expertise.”

Whatever stage of business you’re at, if you’re looking to make progress then ‘speak to people who’ve done it all before’ is what all of the entrepreneurs we meet would say.

To find out more about our mentoring programme contact the team on0191 500 7780

Guy Letts


Chairman’s Dinner: with special guest Sir John Hall6.30pm – 10.30pmWednesday, 21st January 2015Jesmond Dene House, Newcastle

“A colossus of North East business... he [Sir John Hall] has changed the very landscape of the North East.”

Sir Peter Vardy

BOOK NOW Tickets £99 (+VAT)*

*Entrepreneurs’ Forum members only. Limited availability.

Together we can take on the world.ENTREPRENEURS’ FORUM

Tel. 0191 500 7780Email. [email protected]


12

EntrepreNEWS

NEWS & BUSINESS UPDATES FROM ACROSS THE REgION

NORTH EAST BLOGGER AWARDS BOWLED OVER BY ENTRIES.

Hundreds of people gathered at the Lane7 ballroom to hear who won in the first ever North East Blogger Awards.

Categories included food, sports, beauty, lifestyle, parenting, business, style, travel, student, best newcomer and culminated in a special judges’ award for the North East Blogger of the Year, which was awarded to North East Family Fun blog.

Launched by Newcastle PR agency, O PR, the event managed to pull in well-known national and international brands as sponsors including Primula, Dr.Martens, Tommee Tippee and Newcastle International Airport.

Joining the chair of judges, Kari Owers of O PR, the judging committee for all categories was Herb Kim of Thinking Digital and Marc Burns, digital marketing manager at Newcastlegateshead Initiative, alongside a guest judge from each of the category sponsors.

O PR managing director Kari Owers said: “We were astounded at the amount of blog nominations which ran into the hundreds and hundreds, and picking winners was very difficult as the breadth and quality of blogging in the North East is obviously really strong.”

“The evening was a huge success; big thanks to Lane7, The Lakes Distillery, Fentimans, The glass House and Tiger Hornsby for getting involved to make it a great celebration.”

NORTH EAST ENTREPRENEUR UP FOR SEVERAL AWARDS.Crafter’s Companion founder Sara Davies has been announced as a finalist for several high-profile national and regional business awards. The Durham-born entrepreneur has been shortlisted as a finalist for no fewer than three prizes at the great British Entrepreneur Awards, which celebrate the contributions and innovations of British entrepreneurs and their impact on the economy.

She is a finalist in the Creative Industries Entrepreneur of the Year, Retail Entrepreneur of the Year and Young Entrepreneur of the Year categories. The winners will be named at a glamorous ceremony in London soon.

Sara, 30, has also been shortlisted for the Women in Business 2014 Yorkshire and North East Awards in both the International Business and Retail categories. These awards are run by support organisation Forward Ladies and look to recognise the contribution of women across the north.

She said: “I feel incredibly humbled to have been shortlisted for such high-profile awards and feel honoured to have been named alongside such well respected, successful entrepreneurs and professionals. “Award recognition like this is purely a reflection on the hard work, innovation and determination of my amazing team. It might be my name up for the award, but it’s my staff who should be taking the credit for the company’s successful few years.”

SILVERBEAN CONTINUES TO CLIMB THE RANKS.After a fruitful 2014, North-east based digital marketing agency Silverbean has recently found itself ranked as one of the Top 5 agencies in the region in the prestigious annual Digital Census from The Drum.

The rankings, based on financial performance data, client testimonials and peer ratings from like-minded businesses, have placed Silverbean as an agency to watch, thanks to some impressive results across all categories.

The agency was placed a highly respectable 12th out of 85 agencies across the country based on financial performance, the highest position of any North-east agency in the 1-25 digital staff category.

As well as this, the agency found itself in 35th place based on peer ratings, and in 41st place based on client testimonials. These results are ever more impressive considering that this is the agency’s debut in the Digital Census.

Neil Robbins, MD of Silverbean, explained; “I’m thrilled with the results from the 2014 digital census and it’s a good benchmark to show that our growth and



overall financial performance is better than most of our peers of a similar size. Next year, we’ll be ranked in the 26 - 50 digital staff category, so that will prove to be an even better indicator of our standing in the UK marketplace.”

A NEW BRAND FOR PHARMASSIST SOLUTIONS.

Newcastle based agency guerilla has been appointed by PharmAssist Solutions, to create and implement a new brand and digital strategy.

Until now the cost of implementing and running complex computer technology to control daily pharmacy decision-making has been very prohibitive to the independent pharmacists in the UK.

Not any more - PharmAssist Solutions; pharmacy’s answer to ‘compare the market’ now offers their users a new website and unique software providing them with the power of pharmaceutical multiples, linked to the speed and adaptability of an independent pharmacy.

Once a member, PharmAssist Solutions then compiles a cascade for this business, which is unique to their pharmacy and uses this to produce the order sequence - cheapest supplier first every time, for every product.

As well as the new website and software, guerilla has refreshed and redefined their brand, identifying and defining their vision and values and ultimately making sure that the communication of that vision and renewed customer-focus has been delivered across all their marketing materials; including their website and software.Marshall glynn at PharmAssist Solutions explained; “At this year’s Pharmacy Show we unveiled our new brand and

website. It was a huge success with over 7,000 pharmacy professionals attending offering us the perfect opportunity to showcase the new brand, website and the services that PharmAssist Solutions now offers.”

STARTUP TO GROWNUP: HOW A NORTHEAST ENTREPRENEUR DUO TOOK ONTHE DIGITAL MARKET.

After starting up in a back bedroom in Wallsend, digital product agency gospelware are excited to be celebrating 4 years of business success this month. Currently situated in gateshead, the company is dominating the third floor of the International Business Centre and relocation plans are on the cards due to the consistent growth of the company over the past few years.

Turning four is an important age for an SME as it is often the stage when a business is nolonger considered a startup and is acknowledged to be established. In designing and building digital products for web and mobile, the company is thriving in an era where technology is a part of everyday life.

CoFounders Michael Dunn and Ryan Davies who met whilst working in the games industry have successfully grown their team from 2 to 10 with a collection of impressive account wins. In understanding the importance of a mobile strategy for business, gospelware help organisations to bring their company to life through innovative, and credible digital products.

With clients in healthcare and life sciences, education, finance and retail sectors, they believe in making a real difference

to businesses and individuals through the services they provide and the software they create.

On their success so far Ryan said: “Reaching our four year milestone has been an amazing experience, we’ve hardly had time to stop and really acknowledge everything that we’ve achieved so far. There’s definitely been some great experiences and memories made with the team, there’s always a lot of laughter in the studio.

“Both myself and Michael are extremely proud of the team we’ve built so far, we’ve worked with great clients on amazing projects. We’re looking forward to the next four years and continuing to do what we love everyday creating digital products that matter.”

Over the years gospelware have enjoyed the success and work of a range of projects. Their international client situatedin the US saw their build of a paramedic support system andapp, highly commended for Best Use of Mobile Technology and Best Mobile Project at the BigChip Awards 2013.

Aiming to work mainly in sectors that make a real impact on the fundamentals of life, their project for client gCSEPod saw their design become dubbed ‘the spotify of education’ due to the incorporated podcast player that assists with revision. This too has received recognition both within the education sector and in winning awards like Technological Innovation of the Year 2014 in association with Lego Education.

In recently winning one of the biggest contracts in the region for the healthcare sector, the homegrown entrepreneurs are showing no signs of backing off from the industry that they’re slowly becoming one of the main players of.

In hopes of this being a big birthday of many, gospelware are enthusiastic to continue in their success and remain committed to their belief that technology really can change the world for the better.

HEDLEY MCEWAN PUTS A SPRING IN ITS STEP.

Newcastle creative agency Hedley McEwan has stepped into a brand new arena as their latest project sees them venture into the global footwear market.

Hedley McEwan has been working with a group of UK entrepreneurs for the last two-and-a-half years to help develop and launch a casual shoe brand under the intriguing name of ‘SPRINgURUTM’.

Using technology from the mattress industry, SPRINgURUTM is a new casual shoe with micro pocket springs built into the midsole. Along with great cushioning, support and comfort, the shoe provides a unique springy sensation underfoot.

The micro pocket springs have been developed by mattress manufacturer and spring innovation firm, Harrison Spinks Ltd, while the 10mm high, conical springs are precision placed, pre-compressed in their fabric pockets by an ultrasonic welding process. Each pair of SPRINgURUs contains 34 micro pocket springs.

Other shoes achieve a cushioning or ‘damping’ effect by using EVA in the midsole. However, SPRINgURU’s midsole construction deploys a ‘spring and damper’ arrangement, much like you would find in a car suspension system.

Jim Richards, Professor of Biomechanics at University of Central Lancashire and part of the team developing the new technology, said: “This is a much more efficient arrangement and can lead to reduced impact forces and improved loading rates.”

‘Brand Invention & Re-invention’ is fast becoming a core part of Hedley McEwan’s service, and the company’s business development offer, beyond branding, is increasingly in demand.


EntrepreNEWS

REALRIDER RESEARCH PANEL.

North East based companies Explain Research and REALsafe® Technologies Ltd have this week announced their collaboration in the launch of REALRIDER® Research Panel, the industry’s first dedicated online research panel of motorcycle users.

The collaboration sees the combination of both technologies, with riders who use the REALRIDER® app invited to join a pioneering research panel to share their opinions on motorcycle-related topics in a structured and engaging manner.

The business model behind the panel is based on a subscription service available to organisations in the motorcycle industry looking to gather opinions from users and non-users of their products.

Subscribed organisations can gain access to the panel to collect insights on a wide range of initiatives such as brand strategy, marketing materials, product development and future trends.

Zoe Farrington is co-founder of Durham based REALsafe® Technologies, commented: “We have been talking to Explain for several months now to get the panel launched and it has been clear that there is strong synergy between the two organisations from the start.

“Our joint innovation, the REALRIDER® Research Panel, has clearly plugged a gap that has existed in the Motorcycle Industry for a long time and we are thrilled at the level of interest from prospective clients.”

MORE FINANCE SUPPORT FOR SMALL NORTH EAST FIRMS.

A fund to help new North East enterprises grow and develop has been given a £1m boost and extended by an extra year.

The North East Microloan Fund will continue to operate across the region until December 2015 and has around £2.5m to invest in new and existing small firms.

This extension and extra cash coincides with the appointment of Newcastle-based Rivers Capital as the fund manager for the Microloan Fund, which is part of the regional £125m Finance for Business North East programme managed by North East Finance.

Earlier this year North East Finance, in partnership with the Tees Valley and North East Local Enterprise Partnerships, successfully secured £17.5m of extra investment for the regional fund from the European Regional Development Fund along with the Regional growth Fund.

The extra money also meant the whole regional fund programme was extended until December next year.

For Rivers Capital this has resulted in a double boost - with the organisation winning the £6.5m Microloan Fund contract and seeing an extension to its already successful Angel Fund.

Jonathan gold, co-founder and director at Rivers Capital, said: “The extension and extra finance is a real win for the North East and in particular those companies seeking to grow but struggling to get either mainstream finance or equity finance.”

CRB CELEBRATES OPENING CEREMONY.

On Wednesday 17th September, leading British custom peptide and antibody provider Cambridge Research Biochemicals welcomed guests to ‘the gardner Ratcliffe Building’ for its prestigious Official Opening Ceremony.

The brand new state-of-the-art facility, which spans over 10,000 square feet, was purchased in late 2013, completely refurbished and equipped with laboratory and office space as part of CRB’s £1m investment programme.

This was supported in part by a keenly contested ‘Let’s grow’ grant worth £65,000 to help fund R&D projects that create or safeguard jobs in the North East of England.

The building, which also houses a brand new cell culture suite, was officially named after two long-standing and highly esteemed customers, Dr Steven J. Ratcliffe of glaxoSmithKline and Dr Joseph P. gardner of Pfizer.

The action packed day featured a ribbon cutting and plaque unveiling ceremony, in addition to an illuminating talk by Professor gillian griffiths, the Director of the Cambridge Institute for Medical Research, which is based at the Addenbrooke’s Hospital site in Cambridge.

STRONG START TO 2014 POSITIONS PATTINSON ON TARGET.

The new managing director of the North East’s largest estate agency has set out ambitious growth plans after a strong start to 2014.

As the property boom of the south makes it way northwards Caroline Pattinson, managing director of Pattinson Estate Agents, says residential sales have improved considerably since the end of 2013 and the early start of 2014.

She said: “Whilst in the North East we may not be seeing growth at the same levels as the South of England, we are still continuing to see strong signs of growth in the region and, compared with our half yearly figures from 2013, the number of sales are increasing.”

Following a successful first half of 2014, Pattinson has outlined its investment plans, including the opening of a new base in Alnwick, taking its total number of branches to 30. The move will allow the company, which employs 190 people across the region, to increase its presence up to the Scottish borders and comes after strong growth in North Northumberland for Pattinson.

The agency, which has over 35 years’ experience, will also continue expanding its national auction network, adding to its existing portfolio of property auctions that are hosted monthly across the North East, North West, Yorkshire and the Midlands.

If you would like to promote your business and share your latest news, simply forward your press releases to [email protected]

14


Exchange Membership

AN INNOVATIVE APPROACH TO COLLABORATION, EXCHANgINg IDEAS, EXPERIENCE AND KNOWLEDgE.

It’s often said that “a company is only as good as the people it keeps” and a lot of the entrepreneurs we talk to certainly believe their teams are their greatest asset; which is why we developed our Exchange programme.

Exchange is a two-way collaboration. By supporting the growth of North East entrepreneurship your business can take advantage of an exclusive opportunity to immerse four senior managers - people responsible for business growth and change - into a programme of entrepreneurial learning and new connections.

Of course, you get out of it what you put in, but our Exchange membership offers a platform from which your teams can meet with Forum members - entrepreneurs serious about growing their businesses - and other leaders to share ideas, collaborate, innovate and support your organisational growth.

Now in its fourth year, the programme continues to evolve and through exclusive access to our entrepreneurial events programme, the benefits to you and your team include:


NURTURE & SUPPORT KEY STAFFThe best people have ambition and the drive to develop personally, and your job as a leader is to support them to be as successful as possible. If you don’t already have a personal development programme in place to nurture your senior managers and rising stars - or even if you do - Exchange offers a truly unique opportunity to help your team grow. By coming along to our events they will hear from some of the most inspirational entrepreneurs and business leaders around. They will build a network of peers and start to think more creatively and entrepreneurially, all to the benefit of your business.

GENERATE NEW BUSINESS IDEASNot only will Exchange provide a fantastic journey of personal development for even the most accomplished leaders, but it will also inspire and broaden the horizons of its cohort, helping them to find fresh ways to tackle business challenges. By offering your most talented staff the time out to think more about how they can drive your business forward in an motivational environment, you will be inspiring them to bring new ideas and learning back to your business at every opportunity.

MAKE VALUABLE NEW CONNECTIONSAimed at chief executives and senior managers of entrepreneur led businesses, as well as those locally based who would not traditionally meet the owner-

manager joining criteria of the Forum, our Exchange programme enables entrepreneurs and successful business leaders to meet and share knowledge and expertise.

At our events, we bring together like-minded people to create opportunity, provide inspiration and help make businesses and the North East stronger.

We know you’re busy. We know you get caught up in the day to day. But we also know effective leaders benefit from taking time out, interacting with and learning from others; and that’s why we run our Exchange programme.

Exchange membership costs £4,000 (+VAT) p.a.

If you would like to know more about how your business can become an Exchange member, simply call the team on 0191 500 7780 or email [email protected]

Current Exchange members:

“We joined Exchange so that staff within gentoo group can broaden their horizons and network across different industries, they come back inspired by what they’ve learned, with lots of ideas and, just as importantly, they get to share their own experiences and best practice with the rest of the group. In terms of personal development it has been invaluable.”

Sharon Appleby, Gentoo Group.


DAVID FRAME IS AN INVESTOR AND AN ENTREPRENEUR WHO OWNS, HAS A SHAREHOLDINg IN OR IS A FINANCIAL BACKER OF EIgHT BUSINESSES IN THE SOFTWARE AND ENgINEERINg SECTORS.

They range from DEF Software, that’s been established for 35 years, and bespoke software developer Nine, to Asset 55, an 18-month-old company of which he’s a partner director that is developing software for the oil and gas industry, alongside BrightRoute, a business built around a fire safety innovation due to be launched next spring. Along the way, he picked up a failed bar and transformed it into the most successful venue in South Tyneside.

Is there a common thread running through your various businesses?

The model that, through experience, I’ve come to realise works best is one based on constant innovation and sharp service. If you get that right, the profitability and growth will follow. DEF’s competitors are £100m+ businesses in London with hundreds of staff. We focus on what makes us different, which is we’re friendly, responsive, offer good value and great customer service. We remove all the barriers and objections customers are used to coming across from our industry and we bend over backwards to give them what they want. As soon as you do that you develop a very easy, comfortable relationship with clients. At Nine, we don’t have a preconceived idea of what we want to sell before we walk through a client’s door. We listen to what they need and we develop a bespoke system that works for

them, rather than shoehorning in what’s best for us. Add to that world-class teams with a shared work ethic and you have something sustainable.

Did you always plan to have your own business or was there a particular trigger?

My dad died in 2008 and, where some people might be straight back at work, it wiped me out for a month. He was a huge part of my life and it got me thinking ‘do I really want to do want I’m doing long-term?’. In February 2009 I sold my shareholding in Datawright, an established company where I co-led an MBO back in 2005. I bought back part of the business that was developing software for the public sector and went out on my own. As DEF Software we’ve gone on to treble turnover and build a very profitable company. It’s a very safe, strong business with really sticky clients who have along-term commitment to us. We’ve grown slowly but solidly in a measured and controlled way. We put the profit back into the business, we have no debt, no loans, no outside investors, we grow year on year and the team have job security. After a year or two, I thought what else would I like to get involved with. While DEF is productised selling software that meets statutory requirements, for example for planning applications, I saw a gap in the market for a pure bespoke software development company, so I approached Andy Walton and we set up Nine.

You trained as a design teacher and sold soft furnishings to the super rich from a business in Chelsea Harbour. Does software fulfil that creative spirit in the same way?

I’m not techy at all and software needs to be creative, especially at Nine where we’re developing bespoke solutions for clients like the NHS, Procter & gamble and Barbour who can’t find an off-the-shelf

solution for what they need. We build from the ground up and do a huge amount of systems integration work. We often backload contracts but we’re able to take a long-term view and be flexible because we don’t have external investors to pay back. Basically, we don’t have to earn the pound today. That also helps keep focus on the client because the returns may not come instantly; you just can’t slip.

How do you make sure you have the right people to live up to that?

I look for people who can fill my gaps and who I really believe in. Finding the right people is always the toughest task but it’s also the biggest reward. Any success I’ve had has come from having the right people in the businesses. If someone joins us who says yes to everything we ask of them but then doesn’t carry that through in their role, that’s very tough. We have to be very open about the vision of the business, staying engaged and practising what we preach. We’ve invested a huge amount in how we recruit. It’s a four-interview process covering the candidate’s qualifications and skills, personality and ambitions, a coding test for developers and a final session where we give a few colleagues some money to take a candidate out to a restaurant and get to know them. It doesn’t matter if the person has done well in every other part of the process - if the team don’t think they’ll fit, they don’t get the job.

The innovation fundamental in your business model is especially apparent in your more recent ventures...

BrightRoute has grown from an invention by Andrew Turner to offer a solution to the inadequacy of exiting a space when there is dense smoke. We researched what happened on the night of Piper, as well as the Twin Towers and the Brazilian nightclub fire in which 240 people died because they couldn’t find the fire exits. I’ve invested with Bill Scott, of Wilton group, and we’ve spent two years working with Andrew on his solution to work on oil and gas platforms initially. For me, it’s about finding interesting people with unique ideas and something I can be passionate about. In terms of the innovation path, BrightRoute is unlike anything I’ve experienced before and one of the most rewarding things I’ve done.

With Asset 55, we’ve had a first-class reaction from the market for our software and consultancy services around bolted joint integrity in the petrochemical sector. We’ve been able to take on two young engineering apprentices - it’s the first

16

Forum Focus

DAVID FRAME,NINE WORKS


business I’ve been involved with that was right for that. Young people bring fresh thinking and we’re really seeing the benefit.

gridsmart is another business providing software for substations in the UK, Australia and North America, and I’ve recently invested in Point Software, which launched damage assessment software to the vehicle leasing sector six months ago. Where or to whom do you look for inspiration?

To an extent, I find it difficult to be inspired by people. I can listen to someone speak about their success and understand and respect them for it, but what really fascinates me is the facts and figures, the metrics and mechanics of how they did it. For me, it’s impossible to emulate people or think if they can do it I can, because everyone’s dexterity and compass are so different. I just need to be confident and commit, it’s that simple. I’ve made many mistakes but I’ve learned from them and that gives you confidence going forward. It’s about the journey and the process of growing something that’s exciting. I don’t really look for inspiration, I guess it just appears.

Is that how you ended up buying a bar?

I used to go there to play snooker every week in this beautiful old building and one night the owner said ‘take your cue home, we’re closing tonight.’ Within a few minutes I’d agreed to buy it. It had been failing for a few years and I just thought ‘I wonder if I could....’. I then had to go home and tell Emma what I’d just done.

What did it tell you about yourself?

I tested myself to see if I could pull it off, especially when people told me they thought it was the worst thing I’d ever done. I suppose part of me wanted to show them I could do it - it wasn’t a case of proving people wrong but I have to feel there is some adversity in there for me to overcome. I like to be the underdog. It was a challenge to get the right look, the right service and the right staff. Was it possible to turn something that had commonly been considered a hole into a premium, high end bar? I enjoyed the build and it all worked brilliantly. Six months from opening I realised ‘I’ve done it now and I don’t really want to run a bar’, so I sold it. Two years on it’s still the best place in town! I’m not a build and sell person each and every time, but some things I really enjoy running and getting involved in and with others it’s simply the challenge of the build.


You’ve been a mentor through the Forum, but did you have a mentor when starting out?

My dad worked literally seven days a week as an electrician in a factory for 45 years and he gave me a very strong work ethic. Beyond that I’ve had the benefit, through the Entrepreneurs’ Forum, of being able to talk to and ask questions of Paul Walker and Paul Callaghan, but in a lot of ways that’s sanity checking; usually my mind is fairly made up and I’m looking for either confirmation or gaping holes. Being a mentor gives you a certain clarity and re-engages you in your own business.

Where do you see your future?

It’s about backfilling my day to day roles in my established businesses and concentrating on Asset 55 and BrightRoute, which need a little more of my time. From an investment point of view, I would like to get involved in one or two more that I can give some time too - I don’t just want to be a cash investor. I want to work with people who have the right work ethic and morality in running a business. I’ve become quite rigid and focused on who it is, not what it is. It’s a cliché, but every single time an investment comes down to the people.

Despite all your achievements, you’re not all that comfortable with being labelled an entrepreneur...

I’m not ashamed of the word but I am a bit embarrassed by it. I never describe myself as an entrepreneur. If someone asks me what I do I spend 15 minutes waffling on, trying to find any word other than ‘owner’ or ‘investor’. The businesses enter awards, but I’m not the person to get up and accept them. When I set out it was a financial motivation - I was never going to be content with my assets and possessions, but that’s changed now I’ve achieved some level of comfort. When I was 22 I was eager to tell people I ran my own business; now I’m 38 I don’t need that affirmation. I just want to get on with it.

David FrameDavid Frame


Dates for your Diaryin 2015

18

CHAIRMAN’S DINNER WITH SPECIAL GUEST SIR JOHN HALL Wednesday 21st January, 6.30pm - 10.30pmJesmond Dene House, Newcastle

RECRUITMENT & RETENTION, WITH LARRY ROBERTS (member event)

Tuesday 27th January, 6pm - 9pmThe Biscuit Factory, Newcastle

WAYNE HEMINGWAY, HEMINGWAY DESIGN (member event)

Thursday 5th February, 2pm – 5pmStaiths Café Bar, gateshead

FACEBOOK: THE MANAGER TRUMPS THE BRAND (on-site visit)

Thursday 26th February, 12 noon - 3pmFacebook HQ, Euston, London

ALEX BRODIE, HAWKSHEAD BREWERY (member event)

Thursday 5th March, 4.30pm – 7.30pmDarlington Campus, Teesside University

SALES EXCHANGE (exchange event)

Friday 13th March, 8am – 11amRivergreen Centre, Durham

BUDGET DAY LIVE (member event)

Wednesday 18th March, 11.30am – 2.30pmPwC, Central Square South, Newcastle

SIR PETER VARDY, THE VARDY GROUP OF COMPANIES (focus dinner)

Tuesday 24th March, 7pm - 10pmBistro 21, Durham

MIKE MATTHEWS, NIFCO (focus dinner)

Thursday 30th April, 7pm – 10pmTruffle Restaurant, Darlington

TOGETHER WE CAN TAKE ON THE WORLD (Spring entrepreneurs’ conference)

Thursday 14th May, 8am - 5.30pmThe Sage gateshead, gateshead

DANIEL ROBINSON,GUS ROBINSON (focus dinner)

Thursday 4th June, 7pm – 10pmMiddleton Lodge, Middleton Tyas

UNIPRES (on-site visit)

Thursday 18th June, 8am – 11amCherry Blossom Way, Sunderland

PAUL WALKER: LIFE AFTER SAGE (focus dinner)

Tuesday 30th June, 7pm - 10pmJesmond Dene House, Newcastle

To download our event app for iOS and Android search for Entrepreneurs’ Forum


Save the Date


NORTH EAST ENTREPRENEURIAL AWARDS

Friday 25th September, 7pm – late Venue TBC.

FORTUNE FAVOURS THE BRAVE (global Entrepreneurship Week autumn conference)

Thursday 19th November, 8am - 5.30pmVenue TBC

DETAILS CORRECT AT TIME OF PRINT - NOVEMBER 2014

More events will follow. For the latest updates and to book your place visit: www.entrepreneursforum.net


20

In Profile

GROWTH CAPITAL VENTURES.

WHEN IT COMES TO PROOF OF WHAT CAN BE ACHIEVED WHEN AMBITIOUS ENTREPRENEURS WITH HIgH-gROWTH BUSINESSES AND ALTERNATIVE FINANCE SOLUTIONS ARE BROUgHT TOgETHER, gROWTHCAPITALVENTURES ARE THEIR OWN BEST ADVERT.

On issuing their first round of share capital, business owners Norm and Craig Peterson smashed their £150,000 target, raising £161,000 in the first ten minutes of release. Its popularity prompted the brothers to let it overfund and they finally closed the offering at £236,000.

Investments ranged from individual pledges of £100 to £100,000 from a syndicate, with a number of institutional investors expressing an interest to become involved in follow-on rounds.

growthCapitalVentures is a developer and operator of online investment and capital introduction platforms. Positioning itself in the innovative FinTech sector, where financial services and technology meet, growthCapitalVentures provides a range of investors with access to investment opportunities with high-growth potential.

When the banking crisis hit the UK, it created a huge problem for those looking to raise capital and led to a large-scale re-think; a lot of things needed to change

if small businesses were to succeed and do their bit to kickstart growth in the economy.

“The biggest problem we saw,” says Craig, “was in traditional forms of finance. Lots of businesses were feeling the pain of trying and being unable to raise capital, so we started to look at alternative finance solutions.”

Craig led a three-year research project into the alternative finance sector, focusing on institutional investment, crowdfunding and peer-to-peer lending. Norman spent time building relationships with fund managers and understanding the complexities of their investment strategies.

What followed was a series of consultancy projects with some diverse businesses.

“Consultancy was never part of the plan,” Craig explains. “However, we’ve been lucky to work with some fantastic clients with businesses ranging from start-ups to SMEs and corporates. One of the largest clients I’ve worked with was a £1bn per year private equity-backed business.”

“The common theme with all of these projects was that each client was targeting growth and looking at alternative finance solutions to underpin their strategy.”Norman adds: “Carrying out detailed consultancy projects is an amazing knowledge-sharing process and for us, working in a rapidly changing market, it meant we were well positioned to identify problems and opportunities.”

The business was borne out of the brothers identifying disconnect in the

market between the availability of capital and those needing it in order to grow innovative businesses.

‘We just thought there must be a better way; alternative finance solutions to support growth that were more accessible, more streamlined and more cost effective. We wanted to make it easier to break down that disconnect and bring those who need capital together with those who want to invest it. “

Taking the fundraising and investment process online was the natural progression as technology is a fantastic enabler, says Craig. growthFunders , a co-investment and crowdfunding platform, is the first in a proposed suite of online platforms, and connects private companies with high-growth potential to capital from a range of investors, including VCs, angel networks and a new breed of online angels.

5,500 investors have registered on the platform since it went live in April this year and a pipeline of around 100 businesses seeking investment of £30m is waiting in the wings.

The amplification of the crowd is what draws many business owners to online crowdfunding platforms. Having tens, hundreds or even thousands of investors means that the business will have a ready-crowd of brand ambassadors, thereby raising the level of brand awareness quickly.

The platform means that suitably qualified investors, who are comfortable making their own investment decisions, can invest from as little as £100 upwards into start-up, early stage and established businesses, alongside more experienced investors. They’re also able to access tax breaks, such as the government-introduced Seed Enterprise Investment Scheme, which offers investors up to 78% tax relief on their investments.

Craig says: “Some of our investor base work in the financial services sector themselves, but although they know the market inside out and understand the associated risks and rewards, they are not traditional angel investors.

“We’re trying to democratise investing and open up a very interesting asset class to people who were previously unable to get involved at this level. It’s a great way of learning and getting into a market that, in the past, was a privilege of the few.”



This type of online investing means that both experienced angels and smaller investors can add to or start building their diversified portfolio.

Investing for growth is a high risk-high return investment strategy. Some businesses will fail while others will fly. However, if done correctly, through mitigation, which includes due diligence and diversification, this asset class can be highly rewarding.

Craig adds: “It’s also a great way to put something back into the next wave of great British entrepreneurs, businesses and projects.”

growthCapitalVentures’ own fundraise gave Craig and Norman the chance to experience the process from both sides. In their case, the online campaign was a huge success and has gone on to open conversations with a number of VCs, which are currently being followed up.

“For entrepreneurs,” Norman says, “raising capital online using an equity crowdfunding platform, such as growthFunders, is quick, streamlined and cost effective, with no upfront fees. The platform has been designed for syndication, meaning that friends, family and other suitably-qualified members of the entrepreneur’s network can ‘anchor’ the investment alongside more experienced, professional and/or institutional investors.”

Craig adds: “For investors, the syndication feature instills confidence and often encourages more people to invest in listed opportunities. Our standard suite of legal documents make it easy for VCs to co-invest alongside smaller investors. In fact, we spent a great deal of time with our lawyers developing a structure that would give smaller investors the same

rights and protections as larger investors but encourage larger investors to see the potential of investing alongside the crowd.”

Each live investment opportunity includes a video pitch, business plan, financial forecasts, updates, legals and a whole host of supporting documentation. Investors are asked to register in order to access all the information and provide proof to show that they qualify, but there are no upfront fees.

The synergy between growthCapitalVentures and the Entrepreneurs’ Forum, which Craig and Norman are supporting both as a corporate partner and as mentors, is obvious.

“We know how crucial good mentorship is to business development,” says Norman, “and how it can be instrumental in helping to transform a business.”

Craig adds: “We’re delighted to sit alongside the Entrepreneurs’ Forum as we both work towards our shared objectives. For us, helping, inspiring and supporting entrepreneurs, both North East-based and across the UK, is at the core of what we do. We help businesses become investment-ready prior to them seeking capital, and ensure that they are in the best position possible to deliver high and successful growth.”

The brothers have a varied professional background, which, they say, has provided them with a broad experience of many areas and sectors. The common theme however, is their experience in working with businesses and projects to raise capital and deliver growth.

Norman, who holds an MBA and post graduation diploma in project management, has raised everything from £100,000 seed finance up to £60m development capital for a broadband ISP in Europe.

Craig, with his background in property and regeneration, also has a lot of experience in raising finance for projects and growth businesses. Each of these businesses required, amongst other documentation, business plans, financial, forecasts and risk analyses, which Craig was instrumental in both the mentorship and production of.As crowdfunding is an activity regulated by the Financial Conduct Authority, the natural progression for Craig and Norman was to complete compliance exams with the Chartered Institute of Securities

and Investment and become Approved Persons with the FCA.

growthCapitalVentures’ second funding round will enable the company to put investment back into becoming a standalone FCA-compliant businesses, authorised to work in the retail market. The investment will also allow for business development with the appointment of an advisory board and technical staff, as well as the introduction of a lending platform.

Whether it’s their own growth or providing the opportunity for others to grow, the success of their own offering is a taster of what growthCapitalVentures is capable of. Four businesses currently have pitches on growthFunders, one of which is Middlesbrough-based software company, JDrew Creations, which is seeking £100,000 to develop its Ambix platform.

growthCapitalVentures’ fundraising success, as well as Craig and Norman’s active investing in start-up, early stage and established businesses, means that the brothers are in a position where they can share their experience with other business owners. Whether it’s helping entrepreneurs understand all the hard work, time and dedication that goes into executing a successful crowdfundng campaign, or making sure investors know what tax reliefs are available to them, Craig and Norman know their stuff.


22

If We Can, You Can

AS CHAMPIONS OF NORTH EAST ENTREPRENEURSHIP, WE’RE PASSIONATE ABOUT SUPPORTINg START-UPS AND EARLY gROWTH BUSINESSES.

THROUgH OUR IF WE CAN, YOU CAN (IWCYC) CHALLENgE WE’VE WORKED WITH PARTNERS AND THE LOCAL MEDIA SINCE 2008 TO RAISE THE PROFILE OF THEIR IMPORTANCE TO OUR LOCAL ECONOMY AND TO FIND THE REgION’S BEST EARLY STAgE ENTERPRISES.

In 2015, the campaign is set to get a new lease of life thanks to the interest of the education sector in a regional celebration of enterprise and entrepreneurship.

Caroline Theobald and Charlotte Windebank from First Face to Face Ltd have taken on the licence for IWCYC and will start putting the building blocks in place for a campaign in the New Year that is being powered by Northumbria University and will culminate during global Entrepreneurship Week in 2015.

The idea is that the campaign will be activated to lead up to a focal point in the university-sector’s regional celebrations next November; but to also attract entrepreneurs from around the region.

Lucy Winskell, pro vice-chancellor of Northumbria University said: “Northumbria University is delighted to be leading a new regional celebration of enterprise and entrepreneurship, powered by all five universities, and taking place during global Entrepreneurship Week in November 2015.

“We see it as a great way of building on the collaborative working that is being catalysed by UnLtd’s See Change social enterprise project. It will also provide the region with an excellent platform on which we can celebrate the incredible successes of the universities enterprising students and graduates.”

From now on Charlotte Windebank, managing director of First Face to Face Ltd, will be ensuring that all graduate and student entrepreneurs in the region benefit from the IWCYC online community when she meets them at her networking events. She will also be championing IWCYC and the access it delivers to the regional entrepreneurs who are members of the Entrepreneurs’ Forum.

To find out more visit www.ifwecanyoucan.co.uk


WE’RE STRONgER TOGETHERWELCOME TO ALL OF THE NEW MEMBERS WHO HAVE JOINED US RECENTLY...

ENTREPRENEURS:

Cristina De Giorgi Martin Wakefield Michelle Harrison Tim Wilks Pamela Petty Stuart Hingston Jonathan Dowd Ian Lewis Nicky Jolley Will Dracup Dave Chapman Simon Hannar Martin Gilbey

Tynehead PropertyNewcastle Home Automation CentrePMH InteriorsLane 7 Ltd.Ebac White Room CreationsForensis Ltd.Laurus PartnersHR2Day Ltd.Biosignatures Ltd.The Stottie CompanyPipeline Precision EngineeringMidas Cladding Services Ltd.Blu Sky Tax Ltd.Animmersion UK Ltd.Nortech Solutions group Ltd.durhamlaneTier One Capital Ltd.Tier One Capital Ltd.Northumberland Sausage CompanySympatico WealthPeart groupCleveland Process Designs Ltd.

Jon Dudgeon Dominic Lusardi Bryan Bunn Richard Lane Ian McElroy Stephen Black Claire Watson Laney

Chris Haley Roger Peart Ross Coulman

EXCHANgE MEMBERS:

Cleveland College of Art & DesignFagron UK Ltd

Keiron Goldsborough Jonathan Moore Matt Atkinson Ian Shepherdson Paul Gurteen Ben Corbett Nathanael Johansen-Allison Richard Poole Gillian Hall Albert Pattinson Martin Ferguson David Macartney Gavin Richardson Simon Bailes

Press Ahead LimitedNorth East Factors Ltd.The Nine Software CompanyPantheon Macroeconomicsgurteen Recycling Ltd.Endeavour Leisure (UK) Ltd.Industrial & Marine Hydraulics Ltd.

Michael Poole Property Consultantsgillian Hall ConsultingHart Biologicals Ltd.MJF Cleaning Services Ltd.Document Solutions (NE) Ltd.Opus Building ServicesSimon Bailes Ltd.

WE WANT YOU TO HELP US BRINg MORE OF THE REgION’S CHANgE MAKERS TOgETHER. If you know anyone who should be a member of the Forum, please share the benefits. If you refer a friend, as a thank you we will invite you to our next entrepreneurial conference as our guest, free of charge.


Together we can take on the world.ENTREPRENEURS’ FORUM

Proud to be partnered by:

entrepreneursforum.net another creative communication by Hedley McEwanIssue 2, November 2014

Join the conversation:

creative communication

Where to find us:Entrepreneurs’ Forum,Baltimore House,Baltic Business Quarter,gateshead,Tyne & Wear, NE8 3DF

Call the team 0191 500 7780

Email the team [email protected]

To download our event app for iOS and Android search for Entrepreneurs’ Forum


Documents

EF News magazine (Nov 2014)