The latest regional launch event of the National MBO Training Programme has been held in Cheshire
Howard Worth, The CFN's representative firm for South Cheshire, hosted the event at their Northwich offices, to an audience of their professional contacts, bank managers and lawyers.
Kirsty McGregor, Founder & Chairman of The Corporate Finance Network revealed the shocking statistics that 60,000 businesses, with business owners aged over 60, wound up last year, leading to the assumption that in order to retire, most had to shut the business down because they couldn't sell it.
She explained why The Corporate Finance Network had devised this National MBO Training Programme "Due to the downturn in trade deals in the corporate finance market, many businesses will have to sell to a management team, if they are going to exit with any capital sum. However, many SMEs don't have a ready-made MBO team, and the managers and supervisors they employ are not yet ready to purchase the business, and run it afterwards. A structured combination of awareness and education is required, both for any prospective MBO team, and the business owner. As I was explaining the concept, I saw many people nodding their heads in agreement, and from the conversations we had after the event, I'm delighted to say that this programme has been extremely well received by the professional community in Cheshire.
"Now it's a team effort to take this concept to the next stage, and begin to train the potential MBO teams of the future, so we can stop businesses from closing and the inevitable redundancies that will result."
Pictured are Stuart Dutton, from the Corporate Finance team at Howard Worth and Kirsty McGregor, Chairman of The Corporate Finance Network.