Businessman who started with £90 and built £30m airline shares secrets of success

Bournemouth Echo: Jack Romero Jack Romero

A BUSINESSMAN who started with £90 and built an airline valued at £30m is sharing his strategies for success.

Jack Romero fled war-town Beirut at the age of 17 in 1979 and arrived in London with nowhere to stay.

Sometimes sleeping rough or staying with strangers, he took any job he could find in order to bank the 700 hours he needed to get his pilot’s licence.

And after he had his licence suspended over the low-flying he did as an aerial photographer, he hit rock bottom again and thought up the idea of starting his own airline.

British Mediterranean Airways was set up in 1994 and won the Queen’s Award for Business in 2004. In 2009, Bmi bought it for for £30m.

Mr Romero will speak at a business seminar and networking event on Thursday, March 13, 8.45am to 12.45pm, at Talbot Heath School in Rothesay Road, Bournemouth. The event is in aid of his charity the Turnaround Foundation, which supports entrepreneurs in need of inspiration, guidance and mentoring.

Mr Romero claims most schemes to encourage start-ups – including those supported by the government – only put would-be entrepreneurs into debt.

“I look at the amounts of money that have been provided – £500 to £5,000. What can you buy with £5,000?” he said.

“I used lawyers to draft a memorandum of understanding for a deal I was working on – about four pages – and it came to about £2,500.

“If you lend an entrepreneur £5,000, what are they going to do with it?”

Although such schemes could help one-person businesses get off the ground, mostly they were only likely to put an entrepreneur in debt.

“That’s why we have 85 per cent of start-ups failing,” he said.

Places at Thursday’s event cost £15. Email kate@ktpr.couk

Comments (5)

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10:49am Thu 13 Mar 14

BoscVegas says...

This is a prime example why we should not restrict immigration. You never know the potential of the person you are turning away.

further, start up loans are a joke it's all about securing angel investment or embracing modern technology by crowd sourcing.
This is a prime example why we should not restrict immigration. You never know the potential of the person you are turning away. further, start up loans are a joke it's all about securing angel investment or embracing modern technology by crowd sourcing. BoscVegas
  • Score: 2

11:20am Thu 13 Mar 14

Bobbynuts says...

Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too!
Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too! Bobbynuts
  • Score: -1

3:54pm Thu 13 Mar 14

skydriver says...

Bobbynuts wrote:
Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too!
So what, that is a daft comment, or is it just jealousy.
[quote][p][bold]Bobbynuts[/bold] wrote: Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too![/p][/quote]So what, that is a daft comment, or is it just jealousy. skydriver
  • Score: -1

6:02pm Thu 13 Mar 14

aquasplash3 says...

skydriver wrote:
Bobbynuts wrote:
Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too!
So what, that is a daft comment, or is it just jealousy.
Or is it a cheap publicity stunt posted by the store manager, hoping to attract more wealthy customers in? Hmmn.
[quote][p][bold]skydriver[/bold] wrote: [quote][p][bold]Bobbynuts[/bold] wrote: Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too![/p][/quote]So what, that is a daft comment, or is it just jealousy.[/p][/quote]Or is it a cheap publicity stunt posted by the store manager, hoping to attract more wealthy customers in? Hmmn. aquasplash3
  • Score: 1

8:32pm Thu 13 Mar 14

BIGTONE says...

aquasplash3 wrote:
skydriver wrote:
Bobbynuts wrote:
Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too!
So what, that is a daft comment, or is it just jealousy.
Or is it a cheap publicity stunt posted by the store manager, hoping to attract more wealthy customers in? Hmmn.
Nawwww....Bobby is nuts!
[quote][p][bold]aquasplash3[/bold] wrote: [quote][p][bold]skydriver[/bold] wrote: [quote][p][bold]Bobbynuts[/bold] wrote: Springbourne Aldi is just rammed with multi-millionaires! Seen him in there too![/p][/quote]So what, that is a daft comment, or is it just jealousy.[/p][/quote]Or is it a cheap publicity stunt posted by the store manager, hoping to attract more wealthy customers in? Hmmn.[/p][/quote]Nawwww....Bobby is nuts! BIGTONE
  • Score: 0

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