How would you describe an entrepreneur?

Tom Dawes:

Entrepreneurs visualize future opportunities and reengineer existing business processes. They can identify the key stages required to achieve their goal. At each stage they can convince, motivate and enthuse customers, funders and employees. Entrepreneurs are lateral thinkers, risk takers and have the natural resourcefulness and flexibility to overcome obstacles. They combine self belief with stubbornness and selective hearing - if they listened to every negative comment and criticism then ventures would never be launched.

Mark Fuller:

We have backed 700 entrepreneurs since we started and work closely with them. They are an incredibly diverse and disparate group of people. All have one thing in common and that is their tenacity, bravery and willingness to take a risk, in most cases with their own money and time. They are also often characterised by a deep passion and an ability to think creatively, laterally and logically when necessary. Successful entrepreneurs are those with the vision and single-minded drive to see their ideas through. They realise when they don't have all the skills necessary to take something forward and have the wisdom to find resources to help them. Sheer hard work and an ability to remain focused are also defining qualities.

Alan Bowers:

My view of an entrepreneur is that of a passionate individual who strives for excellence, challenges the boundaries with an unerring appetite to succeed whilst not becoming downhearted or defeated in the face of adversity. The greatest entrepreneurs have a clear vision of what they want to achieve and have the ability to share this vision influencing others who can assist with realisation of these visions.

Name a favourite international and local entrepreneur and what impresses you about them?

Tom Dawes:

Bill Gates for his domination of an industry. I admire his acquisition strategy - he bought out his competition and identified companies that offered value-add synergy to his portfolio.

William Lever for his philanthropic ideals and the benefits he brought to Merseyside. We could all learn something from him in today's dog eat dog world.

Mark Fuller:

I am impressed greatly by Sharon Hilditch of Liverpool based Crystal Clear - she is someone who started out as a one woman band operation with not much financial backing. We lent her a small amount of money and provided her with some support to help her get started. Within five years she has grown the company to a turnover of several million pounds and her products and treatments are sold all over the world. She is a great example of someone who believed in their idea and worked tirelessly to make it a commercial success. Sharon took risks too, she invested almost all her capital at one stage to use the services of Max Clifford the PR consultant. It proved a wise move; within months she had a significant celebrity following, which includes Madonna, Victoria Beckham and Gwyneth Paltrow.

Among the international entrepreneurs I would rate is Fred De Luca the founder of the global sandwich chain Subway. He started out as a microbusiness and transformed it into a chain of over 15000 stores. He did this through a combination of good timing, shrewd decision-making, intelligent cost effective marketing and pure dedication. Now he runs a fund providing low interest loans to micro businesses in the USA. His book 'Start Small Finish Big' is a must read for anyone with a fledgling enterprise.

Alan Bowers:

In terms of international then I have been greatly impressed by Curt Stavis who is the Chief Executive of Speedferries a new ferry company taking on the might of the major operators in the same way that Stelios established his airline service. Stavis set up his company using family and neighbors equity and in the face of adversity, including dirty tricks campaigns has survived the first 18 months of business delivering a first class service.

The characteristics of passion and single bloodymindness are all evident here. He is an individual who leads by example is prepared to take the pain and hardship required to realise his dream. He lays himself open to his customers welcoming feedback and I would imagine him to be a great business leader of the future.

In terms of local entrepreneurs, it is well known I have an affinity to the property sector, I am full of admiration to those individuals and companies who have had a vision for a regenerated Liverpool but importantly, have contributed to this vision,ensuring the City becomes a place for the future competing with other national and international cities.

It would be inappropriate of me to mention specific individuals but I enjoy sharing in their visions by way of our involvement as partners - i think its fair to say the enthusiasm evidenced by these property entrepreneurs in Liverpool certainly provides me with a buzz.

Do you think Liverpool succeeds or fails in its strategy to identify, develop and remain an entrepreneurial culture? If you could change the system how would you do it?

Tom Dawes:

Liverpool is the best place in the UK to set up a new company at the moment. The funding bodies, support agencies and Universities are embracing and encouraging the entrepreneurial spirit of Liverpool.

I feel more should be done in schools and Universities to make students aware of the opportunities and quality of life running a business can offer. Young Enterprise does a sterling job but they need school curriculum changes and more industrial collaboration to change student perception.

Mark Fuller:

I think the issue of entrepreneurial culture in our city affects everyone on Merseyside from schoolchildren to businesses to venture capitalists. We know, because we are so close to it that Liverpool is buzzing with talent and see it as our role, alongside other organsiations, to try and harness as much of that talent as possible. I don't know quite what you are referring to when you say 'the system' . Responsibility for educating the Liverpool in the development of an entrpreneurial culture must be embraced by everyone.

The MSIF Kickstart campaign which we run jointly with the Echo is one way in which we try and promote entrepreneurialisam. We are publicising the message that 'there really has never been a better time to start or grow a business than now' and to date have had a terrific response with huge numbers of people picking up the phone asking how they can take their business to the next step. One of the best ways to increase confidence, educate and motivate people is by publicising examples of people who really have done it - and the number of those people on Merseyside is increasing all the time.

Of course at this stage it would be naive to think that Liverpool is even halfway there. We are still behind other cities in the UK in terms of new business starts so there's a huge amount of work to be done. I do believe though that in the last couple of years we have seen an encouraging new period of growth and change and that this trend will continue.

Alan Bowers:

In terms of entrepreneurial culture then I think in the recent past this has been hit and miss however we appear to be getting better with more to do. Whilst we have been keen to accommodate and support entrepreneurial spirit I have found there doesn't appear to be a route or an appetite to support business at the next level. There are many new enterprises that seem to achieve a certain level of business providing founders with a sound performance but in terms of the next step we seem to flounder. I'm uncertain at this juncture whether this is an unwillingness by the individuals to go to the next level or a lack of advice and support to achieve this level. The City needs to welcome or find more dealmakers to provide this support and creativity and if owners of businesses wish to achieve next level status then they must see equity as a route to achieve this and not a dilution of ownership.