Business school dean urges support for entrepreneurs
THE dean of Aston Business School says the UK has the opportunity to become the natural home for entrepreneurs but has to overcome some fundamental barriers first.
Professor George Feiger, a former California-based wealth manager, said: “Whilst the US is globally tops in entrepreneurialism, the UK is the only European nation which approaches the US in this respect.
“In particular, tech-related and export-related entrepreneurialism is significantly higher in the UK than in Continental Europe.”
However, Prof Feiger, a former lecturer in economics at Harvard, said that by US standards, business aspirations in the UK are “still too low”.
He said: “Success is seen in very modest terms in comparison with those I have experienced in California. The continuing negative representation of business and business leaders is alienating young entrepreneurs.
“Young entrepreneurs do not wish to be in a society that seems not to value their aspirations. They want to succeed and they want to build big businesses. They don’t want to be in a society that seems not to value these aspirations.”
Prof Feiger said that Birmingham and the West Midlands should build on its strengths as the UK’s manufacturing capital recognising its traditional skills whilst also developing its information technology sectors.
“Manufacturing – designing, developing and producing new products – requires real and significant investment and that is not as readily available as the lower sums that are needed for software and hardware applications.
“We need to provide not only the funding but also the facilities to enable new product development.”
Prof Feiger was speaking to a business audience at the annual economic breakfast of Equistone Partners Europe, held in Birmingham.
