Sir Peter Vardy, whose family started the Reg Vardy car sales empire in Sunderland, says the Government shouldn't simply concentrate on start ups.

He told icNewcastle:

"I remember there were many times during my first ten years as a business owner where a grant could have been a huge help and very welcome indeed, but... it was only when we were the most profitable motor dealer in Europe, and had a business valued at half a billion pounds, that I got a call from [Regional Development Agency] One NorthEast asking me if I wanted any money for training."

Sir Peter made around £80 million personally from the £506 million sale of the family firm earlier this year.

Meanwhile, the north west-based Forum of Private Business (FPB) also wants Enterprise Week to refocus - because it says its research shows the event means very little to small businesses out there struggling in the field.

Chief executive Nick Goulding said:

"The results of our research show that few firms know about, or have even been involved in, Enterprise Week; fewer still have felt any benefit from it.

"Is this the best way to channel efforts into supporting and encouraging the entrepreneurial spirit?"