Chief Executive of TEDCO Business Support, James Craft, explains how the start-up landscape is changing and what aspiring entrepreneurs can look forward to in the months and years ahead.
According to recent research by Enterprise Nation, almost half of adults in the UK (47%) are considering setting up their own business in 2025. But the budding entrepreneurs of today face a markedly different business landscape to their predecessors in many ways.
Of course, it’s important to note that some things never change in the start-up space. Hard work, perseverance, careful planning and resilience are as valuable as they have always been for aspiring business owners. But there’s no doubt that the shape and structure of the business world is changing and the skillset required to build a sustainable enterprise is evolving at pace.
Here’s how.
Starting up is becoming a young person’s game
Recent research has shown that it’s younger professionals – Gen Z and Millennials – who are contemplating a future away from the steady pay check of employment. In fact 62% of 18 to 30s and 51% of 31 to 40 year-olds have expressed an appetite to form their own enterprise.
In many ways this shouldn’t be surprising. Thanks to digital transformation of all aspects of our lives, new modes of working have given greater flexibility and opportunity than ever before. From multi-role gig work to online side hustles; cost-free social media marketing to the rise of Artificial Intelligence (AI) tools, many would argue that starting a business has never been cheaper, as it can be done from a bedroom. For the generation of digital natives, playing with new tools and technologies is second nature and so working in this agile and fast-moving environment sits well with them.
At TEDCO, we’re also having to move with the times and, as modern organisations take on new guises, so business support also has to adapt to provide the advice and guidance that is needed for those launching their own business for the first time.
In recent years, North East business support agencies like us have utilised both the legacy funding from the European Regional Development Fund (ERDF) and more recently the UK Shared Prosperity Fund (UK SPF) to deliver support and training that caters for the development of digital skills and more agile ways of working.
Our methods of delivery have also changed – with more virtual training and workshops available for those who find it easier to learn online than travel to in-person sessions.
Some good examples of this can be found under the Enterprising Durham Framework and the Enterprising North programmes. The Enterprising Durham framework is a new approach to collaborative business support which better serves the general public and enhances the wider offering to encourage more people than ever to consider launching their own business.
TEDCO are one of the delivery partners that are proud to be part of this framework where we work together with other business support organisations to pool our collective knowledge and strengths to better serve clients throughout their journey from initial idea to day one of trading in their new business.
Harnessing AI in Business Support: knowing when to harness technology and when to stay human
There’s little doubt that Artificial intelligence is a game-changing tool for enhancing business support. At TEDCO, we use AI to streamline processes such as research, business planning, marketing, and administration. These tools have allowed us to boost productivity and serve more clients effectively.
However, AI is not a replacement for human connection. Clients consistently emphasise the value of one-on-one, dedicated support as part of their business journey. While online learning platforms and AI tools provide valuable assistance, they cannot replicate the confidence and self-belief instilled through human interaction.
TEDCO business advisors act as a critical friend, holding clients accountable to agreed action plans, ensuring they stay on track and maintain momentum – whereas self-guided online learning can often fizzle out without that personalised encouragement and support.
So, as with everything in today’s world, we look to take a hybrid approach. The future of business support lies in blending AI-driven efficiency with the personalised care of human advisors. This is essential to creating a comprehensive support ecosystem that meets clients’ needs at every stage.
Business support programmes in 2025 and beyond
From April 2025 there will be an extension of the UK SPF funding for one year through to March 2026. This transitional year is an opportunity to further build upon the excellent collaborative work we have seen during the first three years of the scheme.
In my opinion this transitional year brings a further opportunity for more joined up and collaborative support to be made available. Beyond March 2026, the picture isn’t quite as clear but I believe we can expect the introduction of longer term programmes being made available that will bring in a stable and consistent offering across the whole of the North East region.
Despite the incredible entrepreneurial spirit in our region, the North East’s business birth rate remains lower than the UK national average. This is our call to action. We must collectively do more: push harder, take more risks and embrace the mindset of failing fast and learning quickly. Entrepreneurship is not just for the few; it’s an opportunity for anyone willing to take a chance on themselves and their ideas. Now is the time for the North East to back itself, to be bold and to create the businesses that will shape our future.
TEDCO is here for the long term. We know that success doesn’t happen overnight, but with 40 years of experience in supporting start-ups, we are committed to driving real change. We are passionate about seeing more businesses take root, grow, and thrive – because when our entrepreneurs succeed,