Young entrepreneurs learn how to convince the bank manager

Tailor a new business plan carefully to catch the bank manager’s attention, Will Chase of Tyrell’s Crisps told delegates at The Future’s In Your Hands, a special event for farming’s young entrepreneurs.

“If you have a good idea for a new business, think cash, capital and character.  These are the three attributes the banks will be looking for when investing in start up,” he added.

Ian Kenny, head of agricultural policy at Natwest, agreed. “Cash, capital and character are exactly what the banks are looking for with start-ups but character is key.  Have you got the flair, the fire and passion to make it work?” he asked delegates.

Tyrells was looking for young people to join its business which was exploring new products including potato vodka.

“Finding people with character is important.  We are always looking for managers who will go the whole nine yards and can see the bigger picture,” Mr Chase said.

Skills like these were vital for farming’s young entrepreneurs, he said. Since 2001, Mr Chase has built the Tyrell’s crisps brand up from nothing to a business turning over up to £9m a year.

“There is no rule book.  If you have a hunch simply go and do it.  It’s the only way you will learn.”

In pictures: View images from the day

Read: Young entrepreneurs bullish about the future of agriculture

Comment on this story: Join our ongoing discussion on why entrepreneurship is so important to farming.