We try to ensure that regulators don't adopt a one-size-fits-all approach. Legislation to ensure that FTSE-100 companies behave in a particular way forgets that there are many hundreds of companies that have a relatively small market capitalisation.
If you get the rules and regulations right, so that they are effective but lighter, it will enable the small- and mid-cap quoted sector to raise money more easily, and grow and create the jobs that are necessary to recreate prosperity.
Successful companies are not just looking to impress institutional fund managers. They are working more with private-client stockbrokers because private investors often provide good liquidity for their shares.
The AIM market is faring well. It's managed to survive a couple of recessions already so a third one shouldn't be too much of a stretch. It's a very mature market. It knows its purpose, which is to enable the smaller quoted company to raise finance to create jobs and growth.
AIM is still enabling companies to raise substantial sums of money even in these difficult times. What we're not seeing is a great number of companies joining the market, but I think that's to be expected and it will change.
At the London Stock Exchange, I started off as a regulator and ended up as a business developer and marketer—it was quite amazing. The organisation went from being a mutual to a public company. It was a fantastic opportunity to see what could be done for small quoted companies (SQCs).
I had the privilege of being involved in the launch of AIM and was one of the catalysts for techMARK. At FTSE, I learnt the importance of the value-added support role. The company was going through a fantastic period of growth and I was managing finance, legal, HR and various other disciplines.
Entrepreneurs are by definition optimists—they have to be so that they're not deflected by rules and regulations. If you've got a great idea, it's a good time to do it.
Always do something differently. If you don't learn, you'll end up doing the same thing and getting the same result.
The art of general management is alive and well here. It should be seen as an art. In smaller organisations, general management and the ability to ask the next question from different disciplines is incredibly important.
The coaching process is about enabling people to use their own resources in a better way. Create the difference that makes the difference.
one well, mentoring is fantastic and more directors should mentor. They'll learn a lot from seeing the business through younger, more inexperienced and perhaps less cynical eyes. And they get the added advantage of being able to pass on their own wisdom.
hareholders are getting green fingers. Business is only going to succeed in creating shareholder value over the medium term if it's aligned to the world around it.
If the whole world is moving to a greener place, you will get left behind if you just carry on doing what you're doing. I believe there is a serious amount of shareholder value to be created as a result of being green before everybody else.
