A roundtable discussion at Gilbanks in Manchester on 14 October brought together business leaders and advisers to explore the people and systems challenges that emerge as companies scale and prepare for succession or sale.

The conversation highlighted a core tension in business growth: the informal, entrepreneurial approach that works in a small team often becomes a constraint as the organisation expands. More structure, clearer accountability and experienced leadership may be needed—while still protecting the energy and culture that made the business successful.

Fractional Specialists and Permanent Hires

Gareth Davies from Michael Page and Ben Debnam from Nigel Wright described growing demand for fractional or interim finance and operational leaders. The roundtable heard that some businesses use fractional or interim specialists to strengthen finance, operations or leadership before making a permanent hire. Others recruit earlier, accepting some short-term capacity in order to build the systems, relationships and knowledge needed for the next stage.

The discussion noted that permanent hires made early can build stronger relationships and foundations.

Succession Planning and Key-Person Dependency

Beyond the senior team, the roundtable identified retention and succession as critical at every level. Growth can expose gaps in processes and create new risks if too much knowledge remains in individuals' heads—from customer relationships to day-to-day operations.

Ruby Melling of Talentloop emphasised the need to start early: "I think you need to start with the end in mind and work back." She urged owners to identify key-person dependencies and build a plan for who will take on responsibilities across the business, not just at the top.

A business is more ready for its next chapter when it can succeed without relying on one person to make every decision.

Exit Options and Personal Readiness

Dave Baggott outlined the main ownership-transition options: "The main options are a trade sale, a management buyout, an EOT or private equity investment." He added that the important thing is to understand the trade-offs and decide what matters most: "Is it value? Is it just passing over to the next person? Is it keeping the culture, keeping the team going?"

The roundtable captured a deeper tension with a pointed question: "Do you want to be king, or do you want to be rich?" In other words, is an owner ready to hand over decisions and let others lead—or do they want to remain at the centre of the business?

One entrepreneur described selling a successful online cheese business to a much larger company and encountering a sharp cultural divide between an autonomous, entrepreneurial team and a corporate buyer. The reflection: owners need to be ready to let go, and should think carefully about whether a senior role after the sale is right for them.

What Lenders and Investors Assess

Dave Rushton from Allica Bank said lenders and investors assess the people driving repayment or future returns, alongside the quality of systems, reporting and external advisers.