Why the North still loses out on investment – and what we’re doing about it: Gordon Bateman

Every week, I meet founders who are resourceful, driven, and ready to grow. But too often, they’re following advice from people who haven’t been through the process themselves, or are trying to do it alone.

Unlike founders in Shoreditch, they’re not immersed in a live investment ecosystem, making it harder to stay ahead of what’s required.

So when they do get in front of investors, they’re often not as competitive for the money as a business based elsewhere, simply because they haven’t had the same exposure or access to up-to-date advice.

But we have incredible case studies in the North – founders like Chris Black at Sound Leisure, Mark Roberts at Beer Hawk, and Hazel Savage at Musiio – who’ve built and scaled global businesses from right here. Their stories aren’t told enough, and too many founders still believe “it’s harder because we’re in the North.” It genuinely isn’t.

The difference is access, and that’s what we’re working to change with our event ClimbUK. After all, investors are now openly saying they’re looking for resilience and determination in founders, and there’s never been a place where founders are more resilient than in the North!

The biggest blocker I see to growth isn’t lack of funding. It’s lack of connection. Northern businesses often aren’t well enough plugged in to national and international investors, and vice versa. Bridge that gap, and we’ll unlock far more investment into fast-growth businesses outside the capital.

That’s why we built ClimbUK, now the UK’s most diverse regional festival of business growth. Essentially, it’s a years’ worth of productive networking in two days – where founders, investors, operators, and ecosystem builders have real, honest conversations.

We’re not about pitch decks and business plans. Founders leave ClimbUK with practical insight, trusted connections, and a clearer idea of what’s really going to move the needle – and not just through investment.

Too many founders think equity is the only way to grow – but only a tiny percentage ever raise venture capital. That’s not failure. That’s the norm. At Climb25, we have brilliant tools for that small percentage, but we’re mainly here for the other ninety-nine. Because funding isn’t the only path, and for the majority of founders, other routes to growth are more relevant.

Just look at Zandra Moore and Anna Sutton, two founders and Climb25 speakers who took completely different routes: one raised equity, the other bootstrapped. Both built and exited successful companies.

Our job is to help founders figure out what’s right for their business, whatever the sector, size, or stage they’re at.

A national investor once told me it’s sometimes easier to invest in Copenhagen than the North: a different country, currency, and language. That says a lot. But the UK is smaller than California, and US founders routinely travel state to state for funding.

We’re fortunate to have the third-biggest VC community in the world right here, only two and a half hours away by train – with the same language, same currency, and same(ish) culture.

I’ve seen northern founders opt for a local investor because they’re on the doorstep. But proximity shouldn’t be the deciding factor. You’ve got to ask: does this investor have the reach, credibility, and experience to support the next stage? Can they help you enter new markets, raise follow-on capital, or attract global talent?

If not, it might be a comfort choice, not a strategic one. Picking an investor is like picking a business partner: the right one can open a lot of doors for you.

We need to stop telling ourselves that the North is underfunded because of where we are based. It’s not. It’s underfunded because we’re still not in enough rooms, not in the right conversations, and not visible in the right circles. We also have to recognise that equity investment isn’t the only answer and ensure we look at the alternatives.

At Climb25, investors will tell you: they do invest in the North. The portfolios of the biggest UK funds already include plenty of northern businesses. The issue isn’t geography – it’s readiness. And readiness is solvable.

ClimbUK is about solving these challenges. We bring founders, investors, and advisors into the same rooms, and give everyone the toolkit they need to be competitive, whether it’s investment readiness, sales, marketing, leadership, or international expansion. The North is full of opportunity, and it has always been a powerhouse. We’re here to plug it in.

Gordon Bateman is founder of ClimbUK and Investor Ladder