GIVEN current worldwide economic uncertainty and recent unemployment figures in the UK, it would be easy to become despondent.
The North East has traditionally been good at talking itself down and there is a risk that, given the huge impact being felt in the public sector currently, we will continue to do so.
However, despite the recent final annual review by One North East last week, which could have been a sombre affair typifying loss of impetus in the North East, the review turned out to be upbeat.
Following a moving and inspirational speech from Paul Callaghan, there was a plea to focus on the positives in the region and celebrate success.
One example of a positive in the region would be the ground breaking survey commissioned by North East Access to Finance, carried out by Newcastle Business School in conjunction with Northumbria University.
This is a major piece of independent research being carried out in the North East, the scale and scope of which is so unique, that there is no comparable research taking place in Europe at the moment.
Information is being collated on the views of the SME community, the banks and the business angel community. It is well recognised that growth companies face unprecedented challenges in raising seed and expansion finance, and the North East now needs a vibrant SME community more than almost any other region in the country.
The research project itself is innovative and ambitious, but some of the underlying issues are also a cause for celebration.
Through the hard work of NEA2F and One North East, this region has a suite of access to finance funds that help SMEs. It is possible that this may be the only region in the country that has secured such a scale of access to finance funds, something to be rightly proud of.
The research has already caught the attention of policy makers in Whitehall and Brussels, giving the SME community a chance to have a genuine voice at the highest levels.
The banks and business angels in the North East also deserve thanks and credit. A survey about how difficult it is to raise finance could have been perceived as yet more “bank bashing”. However, the banks and the business angels have been incredibly helpful and open, proving that there is a genuine willingness to address the issue.
The closing date for the survey is October 31, after which 10 SMEs will be selected randomly from the participants and will be offered free 1:1 Executive Coaching by Newcastle Business School, for a senior figure in the business.
If you would like to participate in the survey contact Professor Jackie Harvey at Newcastle Business School.
It is vital that the views of SMEs are heard through this survey so that policy makers understand there is not a begging-bowl mentality in the North East, but a positive action-orientated culture.
:: Neil Warwick is head of specialist SME service Kudos at the region’s leading law firm, Dickinson Dees.