What was your best investment?
Time and hard work in the family insurance business.
Are wise investors born or made?
We can all be wise investors. All that’s needed is common sense with a risk and reward approach.
Do you believe it’s become harder for entrepreneurs to make prudent investments since the crash of 2008?
Yes, because although UK plc is in a far better place cash is still very much king, and banks are still cautious in investing in new businesses.
What advice would you give to entrepreneurs who are looking to make a major investment?
Be fully aware that unfortunately not all investments work.
What’s the worst investment you’ve ever made?
A 15-year-old Lotus (James Bond-like). A beautiful car I bought to use on sunny days in the hope that the value would increase over the years. The reality? It was awful to drive and it would not get me over the ‘sleeping policemen’ just down from my driveway! Bought and sold within two months at a £5,000 loss.
What lessons did you learn from your worst investment?
Rather than investing from the heart, and without much thought, think carefully before investing.
Which sectors are most likely to offer handsome returns for business investors?
I think this next five years will be an opportunity for the IT, recruitment, service industry and UK manufacturing sectors.
What was the best piece of investment advice you’ve received?
Discuss potential investments with your accountant. They will provide a challenging view of the investment.