Michael Smith, Chairman of RTC North, brings decades of expertise in corporate finance, business strategy, and economic development to the Business Durham Advisory Board. With a career spanning over 35 years, Michael has been instrumental in supporting businesses across the North East through his leadership at RTC North and his extensive involvement in regional investment and advisory boards.
A Commitment to Growth in County Durham
Michael's decision to join the Business Durham Advisory Board was driven by his deep connection to County Durham, where he has lived for the past 30 years. Despite his professional ties to Newcastle, Michael was eager to address the lack of financial and advisory infrastructure in Durham. When approached Michael saw an opportunity to contribute to improving the funding ecosystem and to champion County Durham as a thriving business hub.
Reflecting on his motivations, Michael shares, “One of the attractions was to help build an advisory network in Durham. There wasn’t much in the way of financial or legal advice here, but it’s improving. I wanted to help businesses develop strategies and secure funding to grow.”
A Wealth of Experience Driving Regional Progress
Michael has brought a wealth of experience to the Business Durham Advisory Board, leveraging his unique perspective as a corporate finance expert and chairman of RTC North. Under his guidance, RTC North has played a pivotal role in delivering programmes like the Durham Business Growth programme, enhancing the region’s economic resilience and innovation capacity.
Michael's contributions to the Business Durham Advisory Board have been multifaceted and impactful. He has played a pivotal role in enhancing funding ecosystems, ensuring that businesses in Durham have access to appropriate funding opportunities while advocating for a fairer distribution of regional investment funds. His efforts to strengthen networks have brought together advisors, businesses, and local authorities, fostering a more interconnected and collaborative business ecosystem. Additionally, Michael’s leadership at RTC North has been instrumental in driving innovation through initiatives such as STEM-focused programmes and the development of supply chains for major industry players like Lockheed Martin, demonstrating his commitment to advancing the region's economic landscape.
Through these efforts, Michael has become a powerful ambassador for Business Durham, showcasing the county as an attractive destination for investment and innovation.
Enriching Collaboration and Fresh Perspectives
Michael finds his role on the board both professionally rewarding and personally enriching. Collaborating with diverse stakeholders, from council leaders to industry experts, has broadened his perspective and reinforced his commitment to the region’s growth.
“Working alongside the board has been fascinating,” Michael notes. “It’s refreshing to hear strong, innovative ideas from council leaders and board members. These collaborations provide unique insights and inspire us to drive meaningful change.”
The Advisory Board: A Driving Force for Durham’s Economy
Michael views the Business Durham Advisory Board as an essential catalyst for the county’s economic development. By fostering strategic decision-making and advocating for local businesses, the board plays a critical role in shaping a sustainable future for County Durham.
Reflecting on the board’s impact, Michael highlights, “The board ensures that businesses in Durham are supported to reach their full potential. It’s about more than just funding—it’s about building relationships, fostering innovation, and creating a supportive environment for growth.”
As Chairman of RTC North, Michael is committed to leaving a legacy of innovation and collaboration. Under his leadership, RTC North continues to expand its reach, delivering transformative programmes across the UK while maintaining a strong focus on the North East.
Looking ahead, Michael is optimistic about the future of County Durham’s business landscape. “We have the talent, the ambition, and the networks to drive significant growth. With continued support from Business Durham, I believe we can build a thriving, resilient economy that benefits everyone.”
