Several entrepreneurs from Liverpool City Region took part in BusinessCloud’s latest roundtable with MHA and Brabners.
Issues discussed included the growth of AI, impact of geopolitics, value creation and succession.
We’re all workaholics
Mark Stuart is the joint managing director and co-founder of Skelmersdale-based Stuart Energy, which supplies power generators.
He said: “I think everyone around the room is a workaholic and we’ve not mentioned it. We’re being hit by stormy weather in the economy but we’ve all created and done other things to make sure we’ve been resilient and grown the business.
“We’re all growing businesses and to grow in this economic climate is phenomenal. We should give ourselves a pat on the back.”
Look after your people
Ken Deary is the chair of award-winning Right at Home, a Liverpool-headquartered franchise care business.
He said: “My business is definitely not up for sale. I’ve realised what we’re building is quality. We have ambition.
“What I’ve also taken from today is looking after people. I’ve always said we look after our franchisees in our franchise business. We look after our staff and I want to look after my family.
“Basically, all we’re going to do is grow this business. It was great hearing from others how they want to look after other people in the business.”
Strength in community
Anthony Chadwick is the founder of The Webinar Vet, which was established in 2010 to make veterinary education easier, more accessible and affordable.
He said: “Liverpool is a great city to be in. I’ve lived here all my life and it’s great to see businesses being resilient.
“We have our ups and downs but actually the community is really important so we stick together and learn from each other.”
Understand your role
Madina Barker is the managing director of robotic integration company CNC Robotics.
She said: “I think it’s about understanding your value in the business. For us it’s our ability to innovate, it’s that we collaborate with our customers really well.
MHA and Brabners roundtable: Mark Stuart; Ken Deary; Anthony Chadwick; Madina Barker; Rob Richardson; Daniel Hayhurst; Lucy Campbell; Paul Davies; and Tony Reddin
“We’re responsive and we’re always available. Business is tricky but it’s understanding where you sit in your market and what value you’re creating moving forward. Networks are really important.”
Build quality and clarity
Experienced dealmaker Rob Richardson is a corporate finance partner at MHA.
He said: “Today has been fascinating. It’s been really good to hear about everyone’s businesses.
“My takeaway from today is it does feel like it’s been a challenging time but the reaction all the way through has been about building quality and clarity in everyone’s business.
“It’s that quality and clarity that will ultimately drive value. We also talk about succession and it’s about planning early rather than expecting it to happen.”
Build solid foundations
Daniel Hayhurst is an experienced corporate lawyer at Brabners, specialising in private equity, venture capital matters and M&A transactions.
He said: “Make sure you have that solid foundation in your business. We’ve talked a lot around the table about how people focus on culture, purpose and quality.
“Bringing that altogether and using that as the solid foundation of your business holds you in good stead to build that resilience that we all talked about.”
Smart businesses invest
Lucy Campbell is the CEO of Right at Home and has a wealth of experience in scaling franchise businesses.
She said: “It’s been fantastic to hear about the various different business models around the room. Although we might be working in different sectors there are so many synergies in the challenges that we’re facing.
“It’s really encouraging to hear of the optimism and resilience despite the challenging time that we’re facing. In times of pressure businesses tend to do one of two things. They either cut back on everything and effectively standstill.
“However, the smarter businesses invest when others don’t to stay ahead of the curve. I’m fortunate as I’m backed by Ken (Deary) and he’s very much of that mindset and that has put us in a very strong position.
“We are optimistic about the future but not naïve about burying our head in the sand when it comes to the challenges.”
Engaging with others is key
Paul Davies is the chief operating officer of software development company Yozu. He also sits on the Creative Industries Board at LCR.
He said: “Internally we’re always optimistic. Being a resilient business we’re always looking at ways we can improve and augment what we offer. Engaging and listening to other businesses helps us evolve.”
Build resilience in revenue streams
Tony Reddin is a tax partner at MHA, specialising in personal, business and corporation taxation.
He said: “My takeaway from today is to create resilience in the business by trying to establish long-term, sustainable and, where possible, contractual revenue streams that are not overly reliant on a few customers.”