Multi-millionaire businessman hosts Entrepreneurial Masterclass in Inverness
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An Entrepreneurial Masterclass took place in Inverness last night.
Led by Angus MacDonald – who has just announced that he is running against SNP MP Ian Blackford in the next general election – the event was an informative and stimulating evening at Eden Court.
Mr MacDonald presented a keynote speech where he talked tips, tricks and strategy in order to build a valuable business.
The multi-millionaire and philanthropist has run and sold a variety of businesses such as Edinburgh Financial Publishing, Financial News and Helius Energy. He is now in the business of giving back having built Highland Cinema in Fort William in order to serve the local community. He is also the chairman of his son's business, The Highland Soap Company.
Last night's event was organised by Lochaber Chamber of Commerce, SkyeConnect and Inverness Chamber of Commerce, with the Entrepreneurial Masterclass series having already taken place in Skye, and will be taking place in Fort William today.
At the event Mr MacDonald discussed the importance of hiring well if you are a business owner. He said: "Make sure if you are hiring for senior roles in your business, you are doing it yourself and have an input in it.
"You need to make sure that you have people with the ethos of your organisation, and one of the most important things about running a business is having the right employees.
"Also don't be afraid to fire people if they are not working out. If they are in a job that they don't enjoy you will be helping both yourself and them by letting them go."
The Highland Councillor also spoke about the importance of being informed. He said to the audience: "You must make sure that you are reading trade magazines, and the press to see what is happening in your industry.
"Make sure you know what is up-and-coming and if there is anything that is worth investing in. There are so many opportunities out there for successful businesses, but it is about knowing what is happening and making sure you take risks."
After Mr MacDonald's talk, the audience was invited to ask questions to a panel of business leaders in the region.
The panel speakers included: Alasdair Ferguson (Ferguson Transport & Shipping); Freda Newton (Jacobite Cruises); Stewart Graham (GaelForce); and Eunice McAdam (Saffery Champness).
Questions from the audience covered a variety of topics from the Green Freeport to staffing issues to community engagement.
Speaking after the event Mr Ferguson said that the evening had been very enjoyable and emphasised the importance of these events, especially with young people.
He said: "I think if we can provide sessions like this in academies and tell them our stories of failings and learnings then that will encourage them a lot.
"I think there is a big fear of failure now, and it perhaps comes at a greater cost than it did in times gone by with so much legislation and bureaucracy involved. So if we can impart some wisdom and provide them with a solid basis I think that could be very helpful."
Many members of the panel had left school at 15 or 16, and were very keen to encourage youngsters that anything is possible, and that you don't need to be university educated to run a successful business.
