Jonnie Oldham bids Deloitte farewell

WHEN Jonnie Oldham left school at the tender age of 18 he knew one thing. He didn’t want to go to university.

But he did want to go into accounting – a decision that has enabled him to work with some of the region’s most enterprising entrepreneurs and businesses.

Over the last 40 something years he has dipped his toes into all areas of accounting and even insolvency in an effort to offer his clients a truly one-stop-shop service.

As head of Deloitte’s entrepreneurial business in Leeds, the Lancashire-born accountant has helped hundreds of owners/managers (he still represents his very first client), charities and sports clubs and speaking to him just weeks before his official retirement it’s clear he’s loved every second.

“Owner/managed businesses are more often than not flexible, agile enterprises,” he explains.

“Smaller businesses have the ability to react more quickly than large firms. That makes working with them very exciting at times.”

During his career he has worked with and advised organisations such as clothing retailer Republic, Leeds Grammar School, the Eureka Museum and the Bradford Bulls. And although he recognises that corporate deal activity has dropped off as a result of the recession, he’s confident that the entrepreneurialism he’s witnessed in the past few decades will continue apace.

“There are still serial entrepreneurs out there setting up new businesses and looking for acquisition potential,” Oldham says defiantly.

“I don’t think this recession is any more brutal than those that have gone before it. It’s the credit crunch and the subsequent banking crisis impacting at the same time that is causing issue.”

His department specialises in looking after the corporate and personal affairs of busy entrepreneurs (in Oldham’s own words owner/managers work hard and play hard) – a number of which have stuck with Oldham throughout his career.

He says that the job is much the same as it’s ever been although business owners are increasingly more likely to sell their businesses for cash rather than pass them on to the next generation.

“Sons and daughters want to choose their own careers and don’t necessarily want to be left running the family business,” he explains.

As he prepares to pass the reins onto successor Simon Trowbridge, Oldham admits to reflecting over the current economic downturn and areas in need of improvement.

“I think not enough companies use non-executive directors (NEDs) correctly for example,” he says.

“Companies need to value the experience and independent opinion that they bring to the board.

“NEDs take a different view from the management. They’re also there to put a check on what’s going on.”

Retirement however doesn’t mark an end to Oldham’s hectic schedule. He may be undecided about what work related opportunities to pursue, but he’s resolute when it comes to travel ambitions.

“I want to travel to places like the Far East, South and Central America. My wife is going to accompany me and we’re going to explore places properly. My other ambition is to go to big sporting events when we’re out there. Well I might as well!”