UK top 10 accountancy and advisory firm Azets has signalled service-line growth with the promotion of Mark Barrie to Head of Debt Advisory.

His new role is in response to growing demand from businesses for specialist support in navigating complex funding challenges and tailored finance solutions. Mark, previously Funding & Strategic Partnership Director, will be assisting business owners and managers with new funding lines, working with intermediaries and mainstream and independent lenders. He said:

“Many businesses need lifeblood finance to support cashflow. They have faced 16 years of constant curve-ball challenges since the global financial crash of 2008, including a flatlining economy, Brexit, the pandemic, the cost-of-living crisis, increased borrowing costs, reduced consumer spending and, from April, the hard-hitting increase in employer national insurance contributions."

“Against this backdrop, there is clear need for strategic guidance and support regarding corporate finance options, risk management, efficiencies and restructuring as companies navigate these difficult times, with our debt advisory service able to unlock new opportunities and build business value.”

Mark, a Chartered Banker, leads a national team of seven, with four debt advisory directors covering regions in England, Wales and Scotland, two assistant managers and an administrative assistant, with plans to grow headcount on the back of demand.

The debt advisory directors are Mark (South), Phil Empson (Scotland, North East and Yorkshire), Chris Briggs (North West, Central and West) and Martyn Freeman (Central and West).

Nikki Stephenson is Assistant Manager supporting Phil and Chris, with Ellie Tombling in the same role for Mark and Martyn. Emma Chadwick is Compliance and Administrative Assistant. Part of Mark’s remit is advising small-to-medium size businesses with working capital, asset finance and property-related funding enquiries.

Last year, in 2023, according to figures by the British Business Bank, £185 billion was lent by banks, including challenger and specialist lenders, to businesses in the UK, with £59.2 billion of that for smaller firms.

Mark, who works out of Azets’ offices in London and Hertford, said: “We are also able to access funding lines through peer-to-peer platforms, private debt funds and invoice and asset-based finance.

“Key to borrowing is the ability of each business to repay – lenders are cautious and expect robust planning and cashflow forecasting.”

He joined Azets in June 2019 in the banking and finance team, having worked for more than 25 years in the financial services industry, advising companies on new strategic initiatives, growth and expansion, as well as raising new and additional funding.

Sectors which Mark has worked in include manufacturing, wholesale, retail, recruitment, hospitality and property investment & development.

Peter Gallanagh, Azets UK CEO, said:

“The formation of our debt advisory team, led by Mark in a newly created role, meets the demands of businesses which are either growing or are experiencing trading problems. Azets continues to develop service lines which provide strategic support to our 93,000 clients.”