Bernard Ginns: Politicians created chaos, engineers must lead us out of it

As chief executive of the British Bankers’ Association, she has been the sole defender of Britain’s most vilified industry, a lone voice amid a chorus of disapproval from business and public alike.

But speaking at the Cutlers’ Feast, Mrs Knight revealed a lighter side to her steely character.

She recalled a story about top-table guests at another event arguing about who should lead the procession into the hall.

“It should be me, said the doctor. “I should lead it because Eve was created out of the rib of Adam. It was the first recorded medical operation, without which we would not be here this evening’.

“I think not,” said the engineer. “The world has been created out of chaos, clearly an extraordinary engineering feat, one so great it has never been seen before”.

“No,” said the banker, “because before the doctor could do the operation on Adam and before the engineer could create the world out of chaos, somebody had to finance it all”.

“No”, said the politician. “Who do you think created the chaos?”

Certainly, it was the politicians who created the chaos engulfing Europe, with a little help from their banking friends.

It is the engineers, represented so well by the Company of Cutlers in Hallamshire, who are trying to lead us out of it.

Mrs Knight steps down in July, but it won’t be the last we hear from her. She is taking on a new role as chief executive of trade body Energy UK.

TORY grandee Lord Heseltine had an uncompromising message for the Freeman, Friends and Guests at the 376th Cutlers’ Feast on Thursday evening.

The former Deputy Prime Minister has been conducting an audit of the UK’s industrial performance on behalf of the Government.

He told the audience: “We have some of the world’s greatest companies. They are out there winning all over the world every day.

“The question is, is our average performance good enough and if it’s not, how can we persuade the underperforming tail to catch up?”

He said far too many companies are run by “Uncle Bert” types, who lack dynamism and are happy to live comfortably on profits when they should be investing more to break into new markets.

“When the Chinese Prime Minister left these shores six weeks ago, he left with £1.6bn of British goods. Two days later, he left Germany with £14bn worth of orders, “ said Lord Heseltine. He urged company directors to raise their game by changing “assumptions, practices and ambitions”.

Lord Heseltine might have a point, but he has to be careful not to be too critical about businesses, many of which are working incredibly hard to maintain revenues and keep hold of valued employees in challenging economic conditions.

Perhaps frustrated at the lack of growth, his colleagues in Government have been trying to persuade the private sector to do more in recent weeks.

First, we saw Foreign Secretary William Hague telling companies to “work harder” and then Transport Secretary Philip Hammond accused businesses of “whingeing” when they should be investing.

I hope we are not seeing an escalation of business-bashing. Companies do need to invest more, but Government can help encourage this by slashing rules and regulation and introducing tax incentives.

ENTREPRENEURS have never been so important. But what does it take to be a successful one?

This is a question I like to ask self-made people. Answers may vary, but some traits remain the same.

“Determination, perseverance, which are two different things, and hard work, are three principal ingredients,” said Hamish Ogston, the multi-millionaire founder and majority shareholder of credit card insurer CPP.

“One obviously casts about for a product or a service that you can apply those to and some people might be less lucky than others or less perspicacious, less able to make a huge business out of it.”

Perspicacious is a good word; it means mentally perceptive.

Mr Ogston, who was awarded a CBE last year for services to business and the community of York, has had plenty of experience. He has had six businesses in his career.

He told me: “Most entrepreneurs will say to you they saw a niche. Entrepreneurs tend to have a consumer experience or a business to business where they weren’t very satisfied with what’s on offer.

“They say ‘if only I could just tweak that and fill that gap, maybe I could make a fist out of it’. That’s normally how most people get into business. They realise there’s a gap.”