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TYCOON TO SUPPORT YOUNG ENTREPRENEURS IN THE UK
REDROW founder Steve Morgan last night made a five-year commitment to give financial backing to up-and-coming entrepreneurs in Merseyside.
Through the Morgan Foundation, the businessman is setting up an annual fund of between £100,000 to £150,000 for five years to assist local people with their own businesses.
It will aim to support initiatives to raise interest and awareness of business in young people, as well as make a substantial award for one young and developing business each year.
The first awards will be made as part of the first Merseyside Entrepreneurship annual event to be held in spring, 2007.
Mr Morgan announced the initiative last night at the St Helens World of Glass Museum, where he was taking part in a Merseyside Entrepreneurship Commission (MEC) event - known as "In conversation with Phil Redmond".
Mr Morgan said: "I thoroughly enjoyed taking part in a similar event last year and received some great feedback, reminding me that all anyone needs is a little encouragement every now and then.
"I am delighted to announce that the Morgan Foundation is able to support the MEC initiative and hope it encourages a few people to simply do what Phil and I did.
"Just get out there and have a go and see what you can achieve."
Mr Morgan, chairman of the Bridgemere Group, was founder of housebuilder Redrow, and in recent times has been linked with a possible takeover of Liverpool Football Club, of which he is a shareholder.
MEC chairman Phil Redmond, who founded TV production company Mersey Television, said: "Steve was a great supporter of the MEC when we finalised our report at the end of last year, turning out to talk about his career and take questions from entrepreneurs.
"I am therefore delighted that The Morgan Foundation has come up with this idea as a way of offering encouragement, especially to young people who may share a similar background to both Steve and myself."
Nov 30 2006
By Tony McDonough Deputy Business Editor, Daily Post
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They need to discover that this is sometimes the way one learns. They need to be given opportunities to grow in confidence and to contribute their own ideas.
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