If we are to see a resurgence of the private sector in this historically enterprising city and its neighbouring boroughs, there is only one approach to take; one mindset to adopt. We – the public and private sector individuals and organisations offering support, advice and backing to entrepreneurs – must be entrepreneurial ourselves, or why should they take any notice?
We have to get the message out to business owner managers, to ambitious business start ups, to energetic undergraduates, to those naturally enterprising employees who have never thought about running their own business. We need to break down the fear of the unknown, the myths and misconceptions, and inject a little excitement into the potential for business in and around Liverpool.
So the team behind this book have seized the opportunity and are planning a series of events and publications backed up by original in-depth research into the local SME base.
As capital markets develop, there is more money chasing fewer opportunities, but ironically it is no easier to raise investment. Gap funding has become an art in itself. One welcome intervention is the emergence of public sector backed funds that are aimed at the small firms gap. This region has the Merseyside Special Investment Fund, the North West Equity Fund, the Rising Stars Fund and others.
The restructuring of the region’s business support network and a renewed sense of energy and commitment in the public sector focused on enterprise is all to be applauded and given enthusiastic backing. But it’s not enough. It’s certainly not the sole responsibility of the public sector. Entrepreneurs must accept the challenge and crack on, not wait for someone to hand them a prize on a plate. And the professional and financial community must invest in finding the potential stars, and help owner-managers transform into entrepreneurs.
This whole project sprang from a conversation with a business journalist – the author of this book. But a good idea is nothing without backing, and our team of sponsors needed little persuasion to help make it happen.
So spread the word – use this book and help bring in a new Age of Enterprise on Merseyside.