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The idea formed almost 15 years ago. The banking crisis of 2008, while not as deep as the Post War Blues in the early 1920s, the recession began between the run on Northern Rock in September 2007 and the collapse of Lehman Brothers a year later. It has since proved to be the most stubborn in Britain’s modern history. In all the previous downturns, output rose above its pre-recession peak within 48 months, and in some cases well before that.
It was during this time that Dom Chudleigh, Incynergy’s founder, first recognised the closures of small and medium sized businesses for what they were, a truly monumental waste and drain on the economy. At the time he approached the various UK government departments responsible for trade, fiscal policy and grants. The proposition was to establish an organisation that could help business owners successfully transition from sole ownership to shared ownership, effectively some kind of government mechanism to support a form of business exit; with a primary focus on Succession Management, equity release, or merger.
Without going into detail of the mechanics or entrepreneur training and mentoring required, it should be sufficient to say the concept was not picked up.
At Incynergy, we believe we are not just helping entrepreneurs increase the value of their business, but also reducing the impact to the economy caused by true value not being realised, or more severely, the true loss of businesses just closing their doors.