From the Magic Circle to a not-for-profit, Nick Butler talks entrepreneurs and expansion

CULTIVATING the next generation of entrepreneurs and astronomically successful Yorkshire businesses is the aim of the game at not-for-profit organisation Connect Gazelles.

I got an insight into a very exclusive not-for-profit membership organisation, which counts as its members some of the biggest names in the Yorkshire business world, when I talked to chief executive Nick Butler.

Mr Butler, has had an illustrious history history himself, having previously worked at one of the ‘Magic Circle’ firms in the City, Mr Butler then became a partner at DLA Piper, making the move up North.

It does seem that the term ‘entrepreneur’ is open to interpretation. I asked Mr Butler what he thought defines them. He said: “Essentially anyone who sets up a business. With our Entrepreneurs in Residence we have a minimum turnover criteria of £30m, with ten over £100m. For our members,a turnover of £250,000 shows that they’ve got a reasonable amount of traction in their business.

“All of them are entrepreneurs in my book, they all want to create jobs and wealth in Yorkshire.”

Clearly Mr Butler and his team’s vision for the organisation has worked. Partners that support the not-for-profit include lawyers Clarion, accountants Baker Tilly, insurance brokers Beaumonts Insurance, partner bank HSBC and recruiter The Works.

The predecessor of Connect Gazelles, Connect Yorkshire, was formed by big names in the Yorkshire and Sheffield business scene, to help raise funding and aid companies who wanted to list on the stock exchange.

Mr Butler said: “Connect Yorkshire had been going a year whenYorkshire Forward came on the scene and thought that what we were doing was something they ought to support. So they gave us some money and during that period we helped a lot of startups get some funding.

“We held investors forums like Dragons’ Den, and all the lawyers, accountants and agents gave us a little of their time to help.

“Over those nine years we helped businesses raise £45m in equity. After Yorkshire Forward shut, we had some money in the bank and wanted to help Yorkshire businesses continue to grow and create jobs and wealth, which is after all why we started.

And so Connect Gazelles came about.

Connect Gazelles started out as an American concept, incubated in San Diego.

Mr Butler said: “We saw the model over there, and saw loads of IP coming out of the companies there. It was a case of San Diego business people helping San diego business people, and helping get businesses to a stage where they have market traction.”

On plans for the future Mr Butler said: “We need more members” (they are aiming for over 300 in Yorkshire) “and then it would be good to take it national.

“We are unique. I know a lot of people say that, but as far as I know there is nothing else like us in the UK.

“Getting successful business people to help others get to where they are can only be a good thing, and something we as a country need to do more of.

Mr Butler said: “You need to have a strong regional, local economy. This is all driven by Yorkshire.

“People ask why I’m doing this, and why the entrepreneurs doing this, for free? It’s for Yorkshire businesses. We need to find areas where something similar applies; people feel a strong regional allegiance.”

He seemed passionate about what he does, telling me about new businesses he had uncovered and businesses like RandomStorm that had been helped by the organisation.

Now the not-for-profit is adding new services, ongoing mentoring, a move forward from exisiting springboard mentoring, that meant entrepreneurs spent a morning or afternoon helping identify where a business has problems and areas it can work on.

Mr Butler said: “Most EIRs would be interested in investment propositions for the member firms.

“They’re not startups, they are viable proven businesses, with market traction, proved they can attract customers but need some equity funding then the EIR’s might be interested.

With around 110 members in Sheffield and 170 in Leeds, Mr Butler has a good perspective on the best of business coming out of each region. He said: “As you’d expect, businesses there tend to be manufacturing-based, Leeds businesses tend to be more creative.” But this hasn’t seemed to stop the rise of Connect Gazelles, and long may it continue.