Surgery required

Chris Blackham has been out of the market for two years – but now he’s back with a bang. As well as signing up as a non-executive director for broker Howden, Blackham has just announced the launch of a new investment fund.

Endorphin hopes to capitalise on the frustrations of entrepreneurs coming to the end of their restrictive covenants with consolidators – on which Blackham has some uncompromising views.

He says: “The consolidators have been hoist by the own petards having taken on too much debt during their buying frenzy and having made hollow promises to the sellers and staff they bought that are now hard to keep. If they are not to fragment or indeed die these fragile beasts now require serious surgery followed by a period of transformation to enable them to emerge fit for the future.”

He pulls no punches on the new government, either, with a strident warning for would-be business owners: “The coming budget is set to hit us all hard in the pocket through increased taxation but it is highly likely an area that will be partially protected will be investments in business assets and particularly owner managed businesses. Few make their millions working for someone else and with the government heavily taxing the income of high achievers and providing CGT tax breaks if you own shares in your own business now is the time for entrepreneurs to step up to the plate and build capital value fast!”