Speaking at the Entrepreneurs’ Summit, co-hosted by Real Business and the CBI, and in association with Bank of Scotland Corporate, private equity pioneer Cohen predicted that we are only one-third of the way into the global financial crisis that has squeezed the life out of the world money markets and led to a sharply tighter credit market for business and consumers. As reported in today’s Telegraph, Sir Ronald advised UK entrepreneurial businesses: "you’ve got to make sure you’ve got enough runway ahead of you so that you can take off." This involves having long-term finance in place, deferring capital expenditure and cutting costs. Cohen said it would be "easy for Britain to slide back" to the anti-entrepreneurial culture that existed when he started Apax in 1972. "The situation for entrepreneurs is fragile," he said. Opportunities do exist, he said: competitors may get into trouble and become acquisition opportunities; new sources of capital (for example, sovereign wealth funds via private equity firms) will become available; and high-quality potential recruits will come onto the market as the City makes redundancies. For more coverage of Sir Ronald’s thoughts and the Entrepreneurs’ Summit, click here:Sir Ronald CohenThe advantage of uncertainty
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.