Introduction

However, Consett was not doomed to wither away completely. Recognising the extent of the crisis in the steel industry, British Steel had set up BSC (Industry) in 1975 as a body charged with responsibility for regenerating areas hit by steel plant closures. The aim was to create new job opportunities by encouraging new small firms to start in premises developed from the redundant British Steel sites. This scheme encapsulates most of the features and expectations of what later came to be known in the mid-1980s as the ‘enterprise culture’. Three years after the steel works was closed, a certain Roger McKechnie approached BSC (Industry) with a plan to produce well-packaged flavoured corn crisps as an adult snack food. Twelve years later, Roger and his three partners were able to sell their enterprise, Derwent Foods, and its worldbeating Phileas Fogg brand for £24 million. Roger reportedly picked up £7 million personally for his hard-won and innovative success: a clear triumph for the new enterprise culture. Indeed, when I attended the 1993 Institute of Small Business Affairs annual conference in Harrogate, Roger was one of the keynote speakers as a prime example of a successful entrepreneur, which he undoubtedly is.