Neil McInnes: The Edinburgh entrepreneur challenging Scotland's start-up culture

Scottish Business Network

When Edinburgh-raised Neil McInnes and his childhood friend Andy Whitmey were still in their 20s, they spotted an opportunity in the residential lettings market. Having both experienced poor service from letting agencies as tenants, they believed that the fusty image of solicitors in pin-striped suits was due a shake-up, with much greater care and attention paid to the way that both property owners and tenants were looked after. 15 years on, Umega Lettings has around 50 staff and, in December 2021, it was voted UK Letting Agency of the Year. Neil, who was once literally the poster boy for Scotland’s Entrepreneurial Spark initiative, also has some very interesting views on the eco-system for Scottish start-ups and what he believes to be a misplaced emphasis on encouraging young entrepreneurs to sell equity and plan for an early exit, rather than organically growing the sort of long-term, Scottish-owned businesses that are the lifeblood of our economy. Interviewed by Fraser Allen on 21 September 2022.