Investing in the people behind our businesses
Behind every successful business is a great leader. But the most successful of businesses have a leader who surrounds themselves with support and never stops learning. Flowmax Directors’ Days are just one of the ways we invest in the people who lead our businesses.
Last month, we welcomed owner-managers from across the Flowmax Group for our latest Directors’ Day, where attendees came together to strengthen their knowledge on the financial and legal side of business, whilst sharing experiences with their like-minded peers.
Hosted by our Finance Director Lucy Cubitt and our Head of Legal Mary-Kate Irving, the day combined practical workshops with plenty of opportunities to collaborate and discuss the challenges that leaders face across different businesses.
The finance session, The Story Behind the Numbers, explored how financial reporting can become a tool for better decision-making rather than simply a monthly reporting exercise. Working through a series of realistic business scenarios, the group used hypothetical financial data to identify trends, discuss what the figures were telling them and consider the commercial decisions that might follow.
The value in sessions like this to our owner-managers was summarised nicely by Mark Cusworth, General Manager at Whisper Pumps. “Not only did it re-affirm my own beliefs regarding profit vs turnover, but it helped me understand the Flowmax accounts better, and how small changes can have large consequences on the bottom line.”
In the legal session, the focus turned to the Economic Crime and Corporate Transparency Act 2023 (ECCTA) and the practical implications for businesses. Mary-Kate explained the changes to anti-fraud legislation, including how organisations can be held liable for certain economic crimes committed by senior managers, even where there has been no direct board involvement. The session also explored what effective, proportionate and well-documented anti-fraud procedures look like in practice, helping directors understand how to reduce risk within their own businesses.
The day concluded with an evening at Edgbaston Stadium, home of the Warwickshire Bears, to enjoy a game of cricket. It was a great opportunity to continue conversations from the day, strengthen relationships across the Group and spend time with colleagues and external partners from HR, marketing, IT and audit.
Being part of Flowmax means owner-managers no longer have to tackle every business challenge alone. By sharing knowledge, building capability and strengthening our collaboration across the group, we’re helping to create brighter futures.
