The CEOs of tomorrow

Having recently returned to the region after an 18-month spell overseas, I must say things have certainly changed at home. Of course there are the obvious changes like the gaping hole left in Newcastle city centre where the Central Library used to be. Long summer afternoons spent cooped up there as a teenager with head buried in A-level textbooks won’t be looked back on fondly. Fashion also seems to have moved on and left me for dust with all things eighties making a comeback. But it is in the business world where I've noticed the really significant changes.

A recent trip to the North East Chamber of Commerce annual general meeting was a real eye-opener to just how many young people are now business leaders in the region.

Having been to similar events in other parts of the world, which are invariably dominated by middle-aged chief executives, it was refreshing to see so many young faces among the crowd of high-flyers.

This week a trip to one of the region's newest business parks was another chance to see at close hand just how many young people are ignoring the well-trodden university or full-time employment paths and going it alone by starting their own business.

The success of their many businesses, large or small, will play a vital role in sustaining the region's economic development in the future.

No doubt there is a lot of good work being done by local bodies such as the Entrepreneurs' Forum to encourage youngsters out of the classroom and into the boardroom but the latest figures would suggest that we still have a long way to go.

Around 3% of the North-East economy is made up of entrepreneurialism compared to the national average of 6.4%. So clearly a lot more needs to be done by the schools, local organisations and the region's businesses that can lead by example. In the meantime, long may the region's entrepreneurial revolution continue.

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