How good is the climate for enterprise in the UK?

It's getting better, particularly for web-based firms - entry into the market is so much easier than by traditional means. But while things are improving, the climate is not yet what it could be. The new National Enterprise Campaign will help to change this.

Can the UK compete with the US as a place where innovation and new companies flourish?

Absolutely. The UK is as rich in talent, innovation and tenacity as anywhere else in the world.

Perhaps the problem lies in the fact that we don't seem to have the same spirit for risk as in the US. Failure is still regarded as a disaster here, whereas in the States, it's cool if a business goes bankrupt. If you've got the energy, and the vision, failure's just another barrier to take in your stride.

What attributes does a new company need to succeed?

You need vision, fantastic funding and the skills to realise your ideas fast. If you don't do it now someone else will.

Most important, great ideas need great execution.

At lastminute.com, we believe in 10% ideas, 90% delivery. Too many UK firms aim only to be the best in the country, in Europe even - but for every inch of success you have to aim for a mile.

Aim to be the best in the world.

Are successful entrepreneurs rewarded and valued enough in the UK?

There's still a feeling out there that it's not cool to be in business - it's almost a dirty word.

We've been incredibly lucky, but for many entrepreneurs support is lacking - in the media, in the financial sector and in general.

There's a distinct cultural divide between the UK and the US in this respect and this is what needs to change. We have to celebrate our business heroes.

How difficult did you find launching your own internet company?

You're always facing the next challenge. It's particularly difficult to find the people with the technical skills you need. But in other ways, it's been fantastic - we were amazed at the consumer response and for us there are vast rewards in creating a business that our customers love.

How did you find the right idea?

Not something I would claim credit for - it was Brent's idea. I've helped execute and expand the operation.

The right idea is the first step, but you have to keep asking yourself the question - What would I want as a customer? You have to approach everything you do from that perspective.

How difficult is it to raise finance for internet ventures in the UK?

Much easier than it was 18 months ago, but still hard - there are lots of good ideas out there, but even the best venture capitalists are still tough to deal with.

The biggest area of weakness is in seed capital - to realise great ideas, you need the right financial backing at the earliest stage.

Do you think internet companies are over-valued on the stock market?

In the US you could probably count the number firms that are really over-valued on one hand.

Those that are highly valued - Priceline, Yahoo - are creating new markets, stimulating growth, breaking down the barriers to enterprise.

There will be winners and losers, but the winners will change the dynamics of business - they'll be the General Motors of the twenty-first century.

What areas of business are likely to be most affected by the growth of the internet?

Andy Groves at Intel stole the quote when he said that, in time, the internet will affect every single area of business activity

I think that's right - no business will remain untouched by this technological revolution, and the internet will be a driving force.

What is holding back growth in internet usage in the UK compared with the US?

Telecoms charges. This is changing, but still the difference is huge.

Accessibility is still also a problem, but again this is easing with Digital TV, mobile phones - these kind of technologies will be essential in promoting and providing access.

There aren't many great consumer ideas that drive people online - only fantastic companies can do that.

Entrepreneurs and business people interested in lending their support to the National Enterprise Campaign should e-mail heroes@enterprising-britain.com. The campaign is being run by the British Chambers of Commerce in partnership with the government.