Small business owners from the north-east have been acknowledged by the Entrepreneurs' Forum for their success in the region.

Entrepreneur of the Year was taken by Ian Baggett, the managing director of property consultants Adderstone Group, the Newcastle Journal reports.

Mr Baggett, whose small business experienced 160 per cent growth in the past year, was quoted by the newspaper as saying: "This award has been earned by the people who work around me and it's the first business award I have ever received from my peers."

Meanwhile, Young Entrepreneur of the Year Matthew James began his UK Biometrics company with only a telephone, laptop and a small amount of capital and has now grown into a full-fledged business with a target of £100 million turnover by 2010.

Accepting his award, Mr James commented: "I feel I am still so young and green in business and the other members of the forum inspire me and make me more determined than ever going forward."

The Entrepreneurs' Forum was established in 2002 to help support small businesses and the economy of the north-east.