My Investments: Simon Wood, founder and managing director of Document Logic in York

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What was your best investment?

Borrowing £10,000 from my dad to set up Document Logic.

Are wise investors born or made?

I would say born. The drive to be an investor or an entrepreneur comes from within.

Do you believe it’s become harder for entrepreneurs to make prudent investments since the crash of 2008?

Yes. Markets are slower and gains are more difficult.

What advice would you give to entrepreneurs looking to make a major investment?

Take advice from people who know. Having a good support network of ‘go to’ people has really helped me make good investments.

Which sectors are likely to offer handsome returns for business investors?

I think the UK services industry will be a strong sector in the future.

With all of the uncertainty around the world, more people are looking to spend their leisure time in the UK.

Are there any sectors you feel should be avoided?

I think retail is still a difficult sector, with the big supermarkets struggling to compete with the rise of the low cost supermarkets and high streets under more and more pressure from the internet.

What lessons did you learn from your worst investment?

Don’t invest on a whim, do your research.

What was the best piece of investment advice you’ve received?

Play the safe game and invest wisely for the long term.