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Davy rules out flotation for SimplyBiz

SimplyBiz chairman Ken Davy says the company has no plans for a stockmarket flotation.

The former chairman of network DBS says he has “been there and done that” and that private ownership allows the business to concentrate on the quality of its service rather than growth.

Davy says: “We have no plans at the present time for flotation. In life, it is never a good idea to rule out anything completely but it is certainly not on the horizon.”

In April, the company set up its New Model Business Academy on a not-for-profit basis and last year added a free web-hosting service and free investment planning tool.

He says: “We are obviously a business and have to make a profit. However, our objective is to help client firms be profitable and successful as well as compliant. We do not have to think in terms of squeezing out the last ounce of profit.”

Davy is standing down as chairman of Huddersfield Town FC at the end of next season but he intends to remain as chairman of SimplyBiz, saying: “I cannot visualise not being here.”

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