Brexit “a great opportunity”, Lord Digby Jones tells BCMS
Lord Digby Jones told business owners that Brexit represents “a time of great opportunity”, at an exclusive event at the prestigious Royal Automobile Club in Pall Mall, London on October 2.
Speaking at Selling A Business In A Post-Brexit World, a one-off event run by BCMS in conjunction with lawyers Freeths and wealth manager Rathbone Private Office, Lord Jones had a strong message for attendees. “We have to fight every day in a global economy,” the former Director General of the CBI and Secretary of State for Trade and Industry told a select audience of 70 entrepreneurs and business leaders. “A global economy delivers global opportunities, and we shouldn’t underestimate the draw and power of a successful UK business.”
The evening was aimed at providing some state-of-the-market insights into the post-Referendum Mergers & Acquisitions environment. Lord Jones’ speech was complemented by commentary and analysis from professionals including Andrew Bretherton from Freeths and Ian Dembinski from Rathbone Private Office, who offered their own perspectives on the potential impact of Brexit.
BCMS Executive Director Jonathan Dunn delivered the opening address, featuring up-to-date data drawn from BCMS’ experience of current trends in the M&A market.
Dunn was clear on the purpose of the evening, as he explained after the event: “We know that the uncertainty around Brexit is a major issue for business owners looking at the next phase of their business, whether that means selling up, seeking external investment, or just gearing up for continued growth. We thought we’d tackle this head-on, with an event designed to garner opinion from BCMS clients, prospective clients and other advisors. What is it really like selling your company or raising investment in today’s post-referendum market? And how does that stack up against what we read in the mainstream media?“
Dunn continued: “Our own analysis shows very limited impact to date on business sales and investment, and in fact there has been an increase in overseas buyers interested in acquiring UK-based businesses. It may surprise people to know that some overseas corporations have made their very first UK acquisitions after the referendum result. Furthermore, there is clear evidence that the appetite of UK buyers and investors remains very strong. In the past 12 months we’ve helped our clients sell to major-name UK businesses including UBM plc, Associated British Foods plc and Dennis Publishing, and clients have attracted investment from Lyceum Capital and Lloyds Development Capital, to name a few.”
To find out more about BCMS’ wide-ranging free events programme for business owners on our events page..