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How we measure up to rest of the country

Jun 30 2010 by Brian Nicholls, The Journal

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The countdown continues to the unveiling of the Journal’s North East Top 200 Companies league of the region's biggest businesses by turnover. Paul Woolston, senior partner in Newcastle of the Top 200's sponsor PriceWaterhouseCoopers, gives some views on the performance of companies in the region and the economy they contribute to.

GIVEN the strength of companies that make up the North East Top 200 list, and the potential of so many young firms coming up, would you agree that business in this region measures up well to other parts of the country

Yes I agree we measure up well. People may be surprised that the number of our FTSE 250/350 companies compares favourably to the North West and Yorkshire.

This also applies more widely when you look at the professional services firms/Premier League clubs we have in the region

Do you think the North East has the right balance now between the manufacturing and services sector, or what adjustment would you like to see?

I think the balance is OK. The important feature is to have some centres of excellence supported by a wider diversified economy.

Do you think some of the region’s new economic activities – renewables, life sciences etc – will prove big enough to contribute new contenders for the Top 200 before long?

I think it may take a little while, but they are key to the future economy of the North East.

Are there any types of business activity which you feel are under-represented in this region and capable of being introduced to its advantage?

I wonder if there should be more leisure, tourism and agricultural industries.

We like to talk a lot about the North East being the natural home of great inventors and innovators, but how much of that is romanticism and nostalgia?

I think it is a little nostalgic and can be an unnecessary diversion. Entrepreneurship should be about everyone trying to improve the quality, efficiency, output of their work!

Every day. Nissan are a great example of this.