March 2025 marks the 18th Anniversary of The Corporate Finance Network after it was established in March 2007 by founder, Kirsty McGregor.
We took the chance to interview Kirsty about what needs she saw in the accountancy profession which led her to establish it, how it works for accountancy practices today and why demand for corporate finance services is now escalating rapidly.
Q: What was happening in 2007 that led you to believe The CFN was necessary?
A: As a corporate financier in the north, I could see that more owner managed businesses were starting to recognise they could buy businesses for growth & eventually exit their business with a capital sum. And this work was being carried out in the regions more and more, rather than only by the bigger firms in London. Accountancy firms in towns and cities around the UK already advised the companies who needed this advice, but they didn’t necessarily have the skills and experience to offer corporate finance as a service confidently. I set up The Corporate Finance Network to offer accountants support in training, market intelligence and practical resources to carry out more of this work for their clients.
Q: What successes have you seen in the past 18 years?
A: Too many to recount individually. But I’m especially proud that I’ve trained many newly qualifieds and managers who are now running full-time corporate finance teams and are partners or directors in their own right. We’ve launched a corporate finance service line in almost 50 firms and the member firms rate their satisfaction with The CFN at 8.8/10. And when we have supported in a disposal marketing process, we have found the eventual buyer in 83% of cases.
Q: What changes have you seen in the market in more recent years?
A: I’ve seen more businesses being open to the idea of acquisition as a means of growth and our member firms have a process which can help their clients achieve that. But the real shift has been in the demographics of their client base and the OMB economy generally. For many years, we had an ever-increasing average age of business owners. But in the past few months, the research shows that we have reached a tipping point. As a result, there are now more older business owners exiting their companies than there ever has been.
Q: What does this mean for accountancy firms?
A: Senior leadership teams should recognise that the shift from the baby-boomer and GenX business owners to the GenY and Millennials is happening now, so they should cater their services accordingly. But more importantly, they should be ready to advise business owners who will inevitably need to exit at some point. With the average age of directors who are selling their company successfully at 50.94 years, this advice should begin much sooner than you expect. It is my dream that every accountant should offer constructive exit planning services to each business owner. When they have a real impact on the value of that company and its sellability, it brings great satisfaction. We want more to exit successfully with a healthy capital sum, so they can go on to enjoy a well-deserved retirement.
Research from MarktoMarket and The Corporate Finance Network shows that the average age of directors in the UK is now falling.
If accountancy firms would like more information about joining The Corporate Finance Network and accessing these resources for their corporate finance work with clients, please email info@TheCFN.org.uk
