It has been a very busy period for our clients and our firm since I last wrote to you in June. That seems like such a long time ago when I was wondering if the outcome of the UK general election would leave us “strong and stable” or “weak and wobbly”. I am afraid our politicians have let us down and they have opted for the latter. We have a weak UK government which is now playing a weak hand in Brexit negotiations as the rest of the world looks on. The threat of military action on the world stage has increased and the economic outlook remains fragile.
Perversely there has never in my view been a better time to set up a new business with global aspirations. Where there is uncertainty (and yes we have spades of that thanks to our politicians and the Brexit negotiations) there is always opportunity. Large global businesses will continue to find it hard to adapt to fast changing global events and smaller more nimble entrepreneurial businesses can help lead the way and succeed as a result. Interest rates have risen for the first time in ten years but any further rises are not going to be steep and we continue to operate in a climate where the government at a UK level still at least appreciates that supporting the entrepreneurial ecosystem throughout the UK is an ever important focal point. We like to think that we have been playing our own part at MBM to remind our government not to lose that focus and over the summer months we responded to the government’s consultation on its ‘UK Patient Capital Review’ and met with representatives from HM Treasury to discuss how it really is at the coal face in terms of helping to get high growth entrepreneurial businesses funded and also scaling. Please note our article on this and the changes to EIS relief as a result of this government review.
Many of our clients have undergone transformational corporate events over the past six months and we have been busy helping to make sure that these transactions complete smoothly on time, on budget and with the minimum of fuss. There has been an uptake in mergers and acquisitions work and several clients have also closed significant funding deals. We have welcomed many new clients to the firm who recognise the specialist work which we do across the UK and which need not be undertaken by international law firms which do not support the high growth SME sector as we do. The ‘iDeals’ section of this newsletter highlights some of the work which we do for our clients and I would like to thank all of our clients for trusting us to help them complete what are often the most important and complex deals of their business lives. We do not take this trust or the support of our clients for granted and we shall continue to maintain a razor sharp focus on client service and satisfaction.
We cannot provide a consistently excellent service to a growing client base unless we have the very best people. There are a number of new faces at the firm and the ‘New Staff’ section of our newsletter highlights the fantastic team which we have been assembling over recent months including a further US lawyer. We are a people business and it is important that we set an example from the top downwards. My business partners, Kenny Mumford and Cat MacLean have been singled out by the heavy weight independent reviewer of law firms, Chambers for their work and that of their respective teams. I was further delighted that my co-founder of the firm and business partner for many years, Sandy Finlayson was awarded an OBE in the Queen’s Honours for his services to entrepreneurship and voluntary service. Having Her Majesty as well as Chambers give credit to what we have been doing at the firm over many years is reassuring. I cannot think of a better space to be working in and we are honoured to be working for entrepreneurs and their businesses and this remains the bedrock of everything that we do at our firm.
We also place great importance on helping those who are less fortunate than us. Over the Christmas period we are supporting streetwork.org.uk, where we provide much-needed packages and sleeping bags to those who are forced to sleep on our streets.
My colleagues and I wish you a happy Christmas and would like to thank you once again for your support. If you have any questions about the firm, what we can do to help you and improve our services for you then please do get in touch with me at email@example.com.
Stuart Hendry, Senior Partner