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Steve Purdham

Entrepreneurs “shouldn’t give up” when faced with a setback

Business owners should persevere when faced with a setback, according to Wikipedia founder Jimmy Wales.

He made the comments during his keynote speech at Accelerate 2013 in front of an audience of around 1,600 delegates, including representatives from 250 of the UK’s fastest growing firms.

Wales also said that he originally thought that Wikipedia, which is viewed by more than 500 million people a month, was a “really dumb idea which turned into a success”.

And the self-confessed geek said that “real entrepreneurs fail” and that failure is not something that should be frowned upon.

“Don’t fear failure. If you’re based in Silicon Valley and your business fails, you get a pat on the back and a great job at Google. If it fails in the UK, it’s perceived as a huge black mark against your name. That attitude has to change,” Wales added.

Next year Liverpool will host the International Festival for Business 2014, an event which is expected to bring in more than 250,000 visitors to the region and bring in around £100 million of inward investment to the UK.

Prime Minister David Cameron is backing the 60-day festival and the British Chambers of Commerce, UKTI and the Federation of Small Businesses have also pledged their support to the global gathering.

A number of events will take place in Liverpool during the event including the annual Undersea Defence Technology conference, the Global Leaders Summit and the World Corporate Games.

Max Steinberg, chief executive of Liverpool Vision, said, “Liverpool has become an internationally recognised hub for trade and industry and we are proud to be hosting the UK’s first flagship festival for fast-growth businesses. We are showing the world that Britain is in business.”

By Kirsty Hewitt

Entrepreneurs “shouldn’t give up” when faced with a setback
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