Better Business Act’s Post

What if every business in the UK was truly purpose-driven? Take a moment and just imagine that 💭 This evening I joined 100+ business leaders to celebrate the launch of The Purpose Dividend - an exploration into the potential for purpose-led business to drive the UK’s economic recovery. If put into action today, a purpose-led economy could generate: 📈 £149bn boost to the UK GDP per year 🔬 Seven-fold increase in R&D expenditure 💰 £86bn increase in capital investment 🎉 £5.3bn pay rise for the lowest paid — worth £44 a week for minimum wage employees. And the best bit… it doesn’t cost anything. We just need business to be at its best. The next horizon is business as a force for good, driven by purposeful leaders putting people and planet alongside profit in decision making. The Better Business Act would help achieve this at scale. Check it out. 👏🏼 Big shout out to B Lab UK & Demos for the research, report and for hosting such a great gathering. And to the wondeful panel for their insights on building better businesses 🙌🏼 🍫 Douglas Lamont, CEO at Tony's Chocolonely ♻️ Tessa Clarke, co-founder and CEO at Olio • Share More, Waste Less 📊 Andrew O'Brien, Director of Policy & Impact at Demos 🌱 Clare Godfrey, Head of Purpose Integration at Danone 👏🏼👏🏼👏🏼 Read The Purpose Dividend to find out more: https://lnkd.in/eTmMuJ2N #PurposeDividend #ImpactDriven #PurposeLed Chris Turner Holly Branson Charlotte Goodman

13 years ago, I took a trip to companies house, to register my first company (I’m pretty sure I actually went down there in person… 😮 ). I wanted to lock out purpose into our Articles of Association - to change the official responsibility of directors from being purely about maximising shareholder returns to being about balancing 👫 people, 🌎 planet, and 💰 profit. I was reading Nudge by Richard Thaler at the time, and was really struck by the fact that to make this change I had to go out of my way to find and pay lawyers to amend our articles. Wouldn’t it be better to make that the default, and make businesses pay to *opt out* of purpose instead? 🤔 So it was great to see the launch of #ThePurposeDividend report last night - Demos and B Lab UK have pulled together great research to show that a simple legal change like this could drive a 7% boost to UK GDP, and a 7x increase in R&D expenditure. 🤠 If you agree with me in thinking this sounds like a clear no-brainer, please sign up to Better Business Act - link in comments, with lots more detail there about the actual proposition. 🔗 ⬇

End of Year Review: Malcolm Coffin, Inflexion Real Deals catches up with Malcolm Coffin, partner, Inflexion, to discuss his outlook for 2024 #2024 #MarketOutlook #PrivateEquity

It's so good to be an active member of pro-manchester again. The Corporate Finance event they organised today was super and evidence - if any were needed - that the sector is alive and kicking, despite deal volumes being down on previous years. Thanks again Michelle Mullany for inviting me to join your lovely table. The excellent panel - ably quizzed by Michael Angelo Berger from Together - comprised Erin Berry, Saffery; Jodi Birkett, Deloitte; Andrew Feeke, MHA Moore & Smalley; Michelle Heptinstall, Thin Cats; and Lucie Mills, Northedge. Key takeaways for me as follows: - deals are taking longer to complete for a number of factors, including target businesses simply not being prepared enough - there is still resistance from some UK pension funds to invest - AI is OK but has a long way to go ... conversations are essential - there is too much focus on the E of ESG as this is the easiest to address and attention must be given to the S as looking after staff is vital to the success of a business - 2024 is looking more stable and definitely more promising - there is an increased need for robust financial due diligence in the SME space (probably linked to the very first point above) - bolt-ons will remain popular - advisors have a crucial role to play in giving sellers realistic and fair valuations The event was rounded off by a thought-provoking talk by Sharon Amesu who put forward a compelling case for greater diversity and inclusion being a direct route to greater profitability in business. Not surprised the event was sold out and that pro-manchester has decided to introduce a second event later this year. Well done to all concerned 👏👏👏 #dealmaking #privateequity #corporatefinance #financialcommunications

Last night was the launch of the Purpose Dividend Report by Demos and B Lab UK The report sets out some compelling research about how purpose driven companies can drive economic recovery: 🌟 £149bn boost to UK GDP each year (which is a 7 % boost) 💫 A 7 fold increase in R&D expenditure 🏦£86bn increase in capital investment - four percentage points higher levels of capital investment as a percentage of our GDP compared to today ⚖️ £5.3bn pay rise for the lowest paid - worth £44 a week for the average person on the national minimum wage The data talks for itself. Consider the financial, social and environmental impact if the cohort of purpose driven businesses were multiplied. In the face of such research, why wait for businesses to voluntarily take steps to be purpose-led? This is why the Better Business Act needs to be implemented. It offers a real opportunity for the UK to be a first mover and leader of this agenda globally.

I was fortunate enough to hear about this new research ⬇️ first hand from Chris Turner of B Lab at the #EOAConference2023 today, as he was speaking on a panel session. First we had the Ownership Dividend report and now the Purpose Dividend research report. A useful read for anyone questioning the merits of pursuing purpose for profit enterprise and why crafting Better Business For Good is worth the extra mile effort. The potential impact outcomes are powerful. #Purpose #BetterBusiness #BCorp #MishconPurpose

We're proud to support the Better Business Act - a change to company law to ensure all business are responsible for benefiting workers, customers, communities and the environment while delivering profit.   If put into action today, a purpose-led economy could generate: ✔️£149bn (or 7%) boost to the UK GDP per year ✔️Seven-fold increase in R&D expenditure ✔️£86bn increase in capital investment ✔️£5.3bn pay rise for the lowest paid - worth £44 a week for minimum wage employees All whilst speeding up the transition towards a greener future and lowering record levels of inequality. Demos explores the potential for purpose-led business to drive the UK’s economic recovery and address the social and environmental challenges we face in their latest report. Read The Purpose Dividend here👇 https://lnkd.in/eTmMuJ2N

I don’t usually do politics, but the consensus from other similar sized business owners is the same, so I feel this may not cause to much uproar… Support businesses? I grew my business from a sofa with a laptop to the 7 figure business it currently is and I can tell you it is harder than it ever has been and growth when this government provides zero support for it, this statement is laughable.. From the shop floor to the boardroom? I doubt any of these people know what the shop floor looks like nowadays… The economy is on the right path? It’s on path to another recession… But, we won’t take advice or information from actual SME’s, instead we will listen to this group… Scottish Power Net Worth: £4.4 Billion Almac Group Net Worth: £500 million Castore Net Worth: £950 million Greggs Net Worth: £2.8 Billion Omass Therapeutics Net Worth: £4.4 Billion Rolls Royce Net Worth: £34.2 Billion Principality Net Worth: £26.2 million BT Group Net Worth: £10.6 billion ITV Net Worth: £2.9 billion Lloyds Banking Group Net Worth: £34.1 billion Unilever Net Worth: £126.7 billion Barratt Developments Net Worth: £4.5 billion Informed Solutions Net Worth: £36.9 Million Raspberry PI Net Worth: £70 million (Figures from google) I’m going to say with the exception of a few, none of them have started their own company or have any idea what it’s like to try and grow a small business post Covid and now facing a recession… I’m not saying they shouldn’t be part of the conversation or leading it, I’m saying they shouldn’t be the only ones involved in the conversation… Also, not one environmentally focussed business in this diverse group… shame really, goes to show what progress we can be expecting… And before anyone starts, I used to vote conservative. I certainly won’t this time due to Rishi Sunak’s level of delusion. The other daunting fact is, what are the alternatives though…🤷🏽♂️

Fascinating results released recently by Demos about the potential for purpose-led business to drive the UK’s economic recovery and address the social and environmental challenges we face. If put into action today, a purpose-led economy could generate: ✔️£149bn (or 7%) boost to the UK GDP per year ✔️Seven-fold increase in R&D expenditure ✔️£86bn increase in capital investment ✔️£5.3bn pay rise for the lowest paid - worth £44 a week for minimum wage employees All whilst speeding up the transition towards a greener future and lowering record levels of inequality. That’s why we support the Better Business Act – a change to company law to ensure all businesses are responsible for benefiting workers, customers, communities and the environment while delivering profit. Read The Purpose Dividend 👇 https://lnkd.in/eTmMuJ2N