THE first major survey monitoring the performance of entrepreneurial businesses in the North East is under way.

The Entrepreneurs’ Forum has launched the research among its 400 member businesses and associated organisations in the region.

The results of the tracking survey will establish benchmark data to allow business performance to be measured more accurately over time.

It will also help to identify the challenges faced by Forum members and owner managers of businesses put forward by other relevant organisations.

Nigel Mills, chairman of the Entrepreneurs’ Forum, said: “We know that entrepreneurs make an enormous contribution towards the creation of jobs and wealth to support the regional economy, but we need to know how critical the impact is and to what degree it could be improved still further if certain challenges were removed.

“The results of this, our first wide-reaching survey, will give us valuable information and give entrepreneurs a voice. It will allow us to deliver a powerful message to central Government about what is happening within our entrepreneurial community and the key challenges entrepreneurs face in seeking to grow their businesses in the North East.”

The Forum is working with one of its board members, Lisa Hart Shepherd, whose company Acritas is conducting the survey and will collate the data.

Ian Shepherdson, former chief US economist at High Frequency Economics and Chief UK Economist for HSBC, helped to conceptualise the survey and will work with the Forum and Acritas to analyse the data.

The survey will be carried out in regular time waves with members asked to respond four times over the next 12 months. It will continue each quarter year on year in order to build up critical long term data.

Other business owners who are not members of the Entrepreneurs’ Forum can take part by contacting the Forum on 0191 500 7780 or by visiting www.entrepreneursforum.net.