My Investments: Dr Maxine Stead, founder and owner of Alexandra House Spa, Huddersfield

Buying premises for my business, Alexandra House Spa in 2013. I’d rented property for six years and the repayments for the commercial loan are lower than the rent for my old property.

Are wise investors born or made?

Wise investors are made – learning from other’s and their own experiences.

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

Yes, because it’s more difficult to raise the finance as banks are much more cautious.

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

Careful business planning to ensure you will get the required return on the investment.

What’s the worst investment you’ve ever made?

Taking on an expensive skincare range when we first opened – the profit margins were not high enough for our market and the products were too expensive for our client base.

What lessons did you learn from your worst investment?

It’s vital to spend time analysing a broader range of suppliers and to choose the best products for your likely market.

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

Technology because it is central to everyone’s lives now.

Are there any sectors you feel should be avoided?

No, but your business will be more likely to succeed if you truly believe in it.

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

Be brave in the face of negativity.