Peter Cromarty - Managing Director, CCBS Group
What did you set out to achieve this year?
We set out to achieve a 9th consecutive year of growth when we looked at our key metrics ahead of the current financial year, but we also wanted to make sure we were looking after our existing customers as well as we could. This became even more important as the business community tried to deal with the uncertainty created by the autumn mini-budget 2022. The turbulence from that mini budget affected interest rates, business confidence and lender credit appetite and so we have worked hard to make sure our clients can still access funding to allow them to achieve the business goals.
Has everything gone according to plan?
No absolutely not! Does it ever? The world is a difficult place now and business is impacted by global problems, whether it be political or economic. We have had to navigate a particularly tricky path around some of the points mentioned above, but we work hard to achieve the right solutions for our clients. So, we got there but not necessarily the way we thought we would.
What are you most proud of this year?
This year will be another record year for CCBS Group. To achieve what we have this year and the past nine years gives me immense pride. But I am particularly proud of how we are evolving, looking for new growth areas, not standing still and working hard for our clients and professional introductory base.
What’s the best piece of business advice you’ve received this year?
Over the past couple of years, I’ve really started to revisit some business advice and look for new inspiration. I really like some of the High-Performance Podcasts and I’ve listened to a lot of these over this year. One bit of advice that really sticks with me is about you being your ‘authentic self’ (Ric Lewis E76). In a world of social media, influencers, and image consciousness, I see so many young people in the business world currently trying to be something that they are not. It is so important for long term success to be ‘authentic’. I have always tried to be who I am, and I am pretty sure that will work for some people and not for others. However, I am content with that.
Tell us about your team?
The team has grown and evolved over the last few years, and we are constantly looking for good people who can add to what we do. As a team we have looked to support our existing client base as well as grow with new client requirements. It has been a challenge this year, there is no doubt, with rising interest rates, tightening credit criteria from lenders and weakening business confidence. However, I’m really proud of the team’s resilience to keep going through these challenges and continue to deliver for our clients.
What has been the most enjoyable deal you’ve been involved with?
Every deal we do is important to our clients so it’s important to us. However, I have always loved working on MBO’s, and we’ve been really fortunate to be involved in a few this year. Confidentiality prevents me from naming the exact deal, but we completed an MBO of a well-established family-owned construction related business. The complexities of the negotiation and the eventual success to overcome these, working with the funders and advisors together, gave a great deal of satisfaction when it completed.
What have you learnt about yourself this year?
As you can see from the above answers this year hasn’t gone according to plan, but it’s at these times you learn more about yourself, your business, and your key stakeholders and from that you get growth. Oh…also, that I can’t drink as much as I used to!
Describe 2023 in three words…
Retain. Develop. Growth.
What are your aims for 2024?
Next year promises to be exciting for several reasons. We are committed to help our clients through, what we see, will be another tough year. We are looking at further expansion to help us further support businesses in the Tees Valley and North Yorkshire regions. We also need to look at new funding markets to us which will benefit us further down the line. We are always looking to see if we can grow the CCBS family, and so if you think you would additional strengths to our team, please get in touch.
www.ccbsg.co.uk