Spirit of enterprise shining through

THE spirit of enterprise is alive and kicking in the North West, despite the economic slowdown.

Paul Smith, area director, commercial business at Bank of Scotland Corporate, said there had been record numbers of entries into the bank’s £35m Entrepreneur Challenge, which offers a free £5m, three-year funding package to seven regional winners.

Last year the North West’s winner claimed the national crown as Matthew Riley of Daisy Communications of Nelson was judged the UK’s most enterprising and dynamic businessman.

Mr Smith said: “There has been undoubtedly a lot of bad news around, but we have received hundreds of applications, from all sectors and from large and small businesses.

“The standard has been really impressive, there really are some great businesses and entrepreneurs out there, which is great to see.”

The North West winner will be announced at the Imperial War Museum North on November 20. The judges include Matthew Riley, Sale Sharks owner Brian Kennedy, Patrick Loftus, the North West senior partner of Deloitte and Tim Rigg, head of commercial business NW for Bank of Scotland Corporate.

Asked about the ongoing banking crisis, which has forced Bank of Scotland’s parent-company HBOS into a life-saving merger with Lloyds TSB, Mr Smith said: “It has been a very turbulent time – these once in a 100-year kind of events.

“It is a shame to see Bank of Scotland losing its independence after 300 years, but we must now focus on the opportunity the merger brings.

“From a commercial banking point of view, we will still be in third place, with plenty of market share to go at. There are good people in both organisations and strong products and good brands.”

He said it was too early to say where the commercial banking operations of the combined group would be based in the region.