Entrepreneurial Britain Initiative To Reignite The Entrepreneurial Spirit Of Britain’s Cities

By citiesabc resources - Aug 25, 2020

The Entrepreneurial Britain two-days initiative will be focused on towns and cities in the UK as key drivers of economic growth

Entrepreneurial Britain is a new two-day initiative designed to reignite the entrepreneurial spirit of Britain’s towns and cities.  Comprising a peer-to-peer learning conference and an awards ceremony, attendees will leave with fresh ideas on how to invigorate their local economies.  Entrepreneurial Britain is launched by the founders of The Great British Entrepreneur Awards.

The outbreak of Covid-19 and the attendant rapid acceleration of the already pre-existing trend towards digital living – be that home working or studying, shopping online, or joining a virtual yoga class – has left large question marks looming over the prosperity of towns and cities.  To rebuild large parts of the economy, our towns and cities must learn from one another, encourage local entrepreneurship, and recognize successful local business people and initiatives.

The conference will feature thought leaders on: ‘entrepreneurial clusters’, attracting investment, funding, diversity, and inclusion, and successful high street blueprints.  The initiative will therefore showcase the best of entrepreneurial Britain.  The award winners will illustrate successes in improving transport links, encouraging graduates to stay in the area, mobilizing communities, utilizing physical spaces, and producing and supporting local business heroes.

Large swathes of existing infrastructure, such as malls, office parks, and high streets, may become redundant and the conference will also look at ways in which to reimagine spaces as engines for socio-economic development.

The host city for 2021 will be announced in due course.  The winning city for 2021 will be the host city in 2022, which sets the pattern for the determination of Entrepreneurial Britain host cities in the future.

Nick James, Founder of Fresh Business Thinking, said: “Our initiative has its sights set on ‘entrepreneurial clusters’ – how these come to be, and how their successes can be replicated.  An example that stands out to us is Frederick Terman who is widely credited as the founder of Silicon Valley.  In the 1920s he was a member of the Stanford University engineering faculty where he helped establish a laboratory.  Terman encouraged students to stay in the Valley and to set up their businesses there, which he sometimes invested in. The rest is history... This is a powerful anecdote highlighting strategic decisions that can result in the formation of entrepreneurial clusters that can steer a city, town, or area towards a brilliant future or entirely rebuild an economy.”

Francesca James, Founder of the Great British Entrepreneur Awards, said: “As the global pandemic and digital transformation reshape our lives, we must support regional business creation, growth and entrepreneurial activity to create sparks in the UK economy.  Entrepreneurial Britain is ready to shine the light on entrepreneurial clusters, allowing other towns and cities to emulate their successes and ensure business creation in the UK. 

“Research has shown that the British economy would benefit to the tune of £34bn a year by 2030 if the local economies of towns and cities were to realise their full entrepreneurial potential over the next decade and we look forward to welcoming participants and attendees at our inaugural initiative next year to encourage entrepreneurship in our towns and cities.”

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