The North East economy is in its best shape for years, according to the IoD North East chairman, who has praised the region for pulling away from the recession and showing that "real change is taking place".
Speaking at the IoD annual dinner Graham Robb highlighted that unemployment falling and each of the region's local enterprise partnerships making "real progress" as evidence of the North East's recovery.
"The abundance of initiatives and programmes designed to help this region grow and compete is too large to mention tonight but many of them are directed at private sector growth, which is absolutely critical," he said.
"The IoD understands this. Our members form a cohort of business cheerleaders who back the risk takers, nurture the wealth creators and mentor those individuals who want to create opportunities and jobs in the North East."
Robb added that the IoD champions one statistic in particular as "the most important of all"; the region now has more than 150,000 businesses for the first time.
"Its business population grew by 12 per cent last year which is still below the national average but it is catching up," he added.
However, Robb stressed that there is still plenty of room for more.
"In the North East the need for more businesses of all sizes is, in my view, the number one issue. Anything that makes business easier will help strengthen our economy further.
"Thankfully, George Osborne didn't stop massive capital expenditure in his first few years – hence the road works we all face frequently – and any Chancellor must resist the temptation to do so in the future."
Robb is speaking at Insider's forthcoming North East Powerhouse event. The event will hear from some of the most influential policy-makers and business voices in the North East and will look at two key issues for the region: transport and devolution.
Other speakers include Peter Walls, chief executive, Gentoo; Pat Ritchie, chief executive, Newcastle City Council; Dianne Sharp, regional director, CBI North East; and David Robinson, group chief executive, PD Ports.
For a full list of speakers and how to register to attend the event (for free) click here.