City business leader credited with helping boost economy by £2.5bn decides to step down
“Paul was also acknowledged by the late Queen in her 2021 honours list”
The chief executive executive of Sunderland based North East Business and Innovation Centre (BIC), Paul McEldon OBE, has announced will retire from the role next year (2027), providing time to “ensure the right successor is found”.
Paul will leave the BIC in a position of record strength as he transitions to focus on his portfolio of non-executive posts across the region.
Working alongside the board, Paul has secured the management of three new Sunderland City Council business centres, embedded a fresh strategy, and added four experienced non-executive directors to the BIC board.
Inspired by a European business model of fusing workspace with business support, the organisation was set up to provide the “perfect environment for the region’s small businesses to innovate and grow”. Its model has seen the BIC, which is located at Wearfield Enterprise Park East, become one of the region’s largest social enterprises and a leading provider of workspace and business support, with a recent impact report revealing it has boosted the regional economy by over £2.5bn.
Central to this success has been the BIC’s own four business centres which have provided a home to over 1,100 businesses over the past three decades and its free events which have helped over 8,000 people set up and grow their own businesses.
Paul was also acknowledged by the late Queen in her 2021 honours list, which resulted in him being awarded an OBE for ‘Services to Local Growth’ in the North East of England.
He said: “It has been an absolute honour to be part of the BIC team for the past 32 years and to have had the privilege of working with so many amazing people on the journey.
“Over the time we have served the region, we have created a business community unlike anything else in the North East, but this would never have been possible had it not been for our fantastic team.
“Everyone from our advisers to the maintenance teams, office staff and our receptionists are what make the BIC such a special organisation and if you speak to any of our customers, be they tenants or business support recipients, I am sure they will testify to that. They truly embody everything the BIC stands for.
“Now the time has come for me to step down and focus on the board work I do. I do so in the knowledge that we have the incredible people already in place to ensure the BIC remains a force for good for another three decades and beyond.”
The BIC is now recruiting for a new Chief Executive to succeed Paul, with the successful applicant expected to be in post by Christmas. Plans are also in place for Paul to continue working with his successor for several months before exiting the business to ensure a smooth handover of activities.
Paul added: “We’re moving in to what is a really exciting time for the BIC, managing three new business centres in Sunderland that almost double the size of our portfolio and we have ambitions to continue growing across the region, so it is a great opportunity for the right person to come in and really hit the ground running.”
Kevan Carrick, Chair of the BIC, said: “Paul has been a driving force behind the North East BIC during his tenure, overseeing its growth into one of the region's most respected business support organisations.
“On behalf of the entire Board, I want to express our sincere gratitude to Paul for his extraordinary dedication and the lasting legacy he has built.”