The chief executive of one of the North East’s most pioneering business support organisations is to step down after 25 years at the helm.
Paul McEldon OBE, who joined the North East BIC in 1994 before being appointed as chief executive in 2001, has announced he will retire from executive leadership next year, providing time to ensure the right successor is found.
Paul will leave the BIC in a position of record strength upon his departure next year, as he transitions to focus on his portfolio of non-executive posts across the region. Working alongside the board, he has fully prepared the organisation for its next chapter, having secured the management of three new Sunderland City Council business centres, embedded a fresh strategy, and added four experienced non-executive directors to the BIC board.
Inspired by a European business model of fusing workspace with business support, the organisation was set up to provide the ‘perfect environment for the region’s small businesses to innovate and grow. Its trailblazing model has seen the BIC become one of the region’s largest social enterprises and a leading provider of workspace and business support, with a recent impact report revealing that it has boosted the regional economy by over £2.5bn.
Central to this success has been the BIC’s own four business centres which have provided a home to over 1,100 businesses over the past three decades and its free events and support which have helped over 8,000 people set up and grow their own businesses.
Paul was also acknowledged by the late Queen in her 2021 honours list, which resulted in him being awarded an OBE for ‘Services to Local Growth’ in the North East of England at a glittering ceremony at Windsor Castle.
He said: “It has been an absolute honour to be part of the BIC team for the past 32 years and to have had the privilege of working with so many amazing people on the journey.
“Over the time we have served the region, we have created a business community unlike anything else in the North East, but this would never have been possible had it not been for our fantastic team.
“Everyone from our advisers to the maintenance teams, office staff and our receptionists are what make the BIC such a special organisation and if you speak to any of our customers, be they tenants or business support recipients, I am sure they will testify to that. They truly embody everything the BIC stands for.
“Now the time has come for me to step down and focus on the board work I do, which I thoroughly enjoy and which keeps me really busy. I do so in the knowledge that we have the incredible people already in place to ensure the BIC remains a force for good for another three decades and beyond.”
He added: “We’re moving in to what is a really exciting time for the BIC, managing three new business centres in Sunderland that almost double the size of our portfolio and we have ambitions to continue growing across the region, so it is a great opportunity for the right person to come in and really hit the ground running. With these firm foundations in place and further developments in the pipeline, the best is undoubtedly yet to come.”
The BIC is now recruiting for a new Chief Executive to succeed Paul, with the successful applicant expected to be in post by Christmas. Plans are also in place for Paul to continue working with his successor for several months before exiting the business to ensure a smooth handover of activities.
Kevan Carrick, Chair of the BIC, said: “Paul has been a driving force behind the BIC during his tenure, overseeing its growth into one of the region’s most respected business support organisations. Under his leadership, the BIC has provided vital workspace, mentoring, and innovation support to hundreds of businesses across the North East, helping to create thousands of jobs and contributing significantly to the region’s economic development.
“On behalf of the entire Board, I want to express our sincere gratitude to Paul for his extraordinary dedication and the lasting legacy he has built at the BIC. His contribution to business support in the North East is immeasurable. We are grateful that Paul has agreed to oversee the handover to his successor, which reflects exactly the kind of leadership and professionalism he has always shown.
“The BIC remains fully operational and committed to delivering world-class support to entrepreneurs, start-ups, and growing businesses across the region. Further announcements regarding the appointment of a new CEO will be made in due course.”
