VIDEO: Entrepreneurs will lead Birmingham’s recovery

BIRMINGHAM’S entrepreneurial flair will help to lead the city out of recession, business coach Doug Richard has said.

He said there were no barriers to starting a business and provided people were passionate about what they did there was no reason why they should not succeed.

Mr Richard, well known as a former member of the Dragon’s Den team, said age and experience were no obstacles to success and his message was the same whether it was addressed to a student just about to embark on their career or a 50-something whose life had reached a crossroads.

Speaking exclusively to TheBusinessDesk.com, he said: “I think the conditions are perfect for starting a new business. If people are passionate about what they believe in and prepared to go out and grab the world by the balls then there’s no reason why they shouldn’t succeed.

“This applies whether you’re a student who hasn’t identified their career path yet or a 50-year-old who may be staring out of the window and wondering what they are going to do next because for the first time in their lives after being employed for 30 years they find themselves out of work because the corporation that makes processed cheese has taken over the local corporation who makes fantastic chocolate – not that I’m naming any names.”

He said that while the world might view a 50-year-old as “ready for the shelf” most people in that position thought nothing of the sort.

“The fact of the matter is, if you’re a 50-year-old then in many ways you are at your peak. You know an enormous amount about how to get things done. These people are the ultimate practical deliverers,” he said.

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Mr Richard, founder of the Cambridge Angels and the School for Startups, said that if these principles were adopted then Birmingham could unlock its true potential and lead the economic fight back.

However, he said it was important that the right conditions to support growth were in place.

He is currently campaigning for a reduction in the regulatory burden placed on small businesses so that this vital sector of the economy can thrive.
 
His Entrepreneurs Manifesto calls for a new system of tax breaks to encourage start-ups. He claims the initiative can be paid for by a radical overhaul of the government business support structure and that entrepreneurs must move up the list of national priorities.

He said the ideal system would support direct credits for angel and family investment in small businesses, and see a greater emphasis placed on the importance of apprenticeship and training schemes.

The Government should also set aside part of its procurement budget for small business and ensure super-fast broadband was made available to every person in the country.

“Birmingham has everything it needs to capitalise on the opportunities of the 21st century. However national government must unshackle the only means of increasing wealth and social mobility in the city: the entrepreneurial culture,” he said.