Steve Rigby: ‘Business trust in the government is disappearing’
Every week, we dig into the memory bank of the City’s great and good. Today, Steve Rigby, co-CEO of Rigby Group and incoming chair of Family Business UK, tells us about his career – and the current business landscape – in this week’s Square Mile and Me
CV
- Name: Steve Rigby
- Job title: Co-CEO of Rigby Group and incoming chair of Family Business UK
- Previous roles: Salesman, director, founder
- Age: 52
- Born: West Midlands
- Lives: Cotswolds and London
- Studied: Wlyde Green College
- Talents: Reading a situation and being able to plot a course that delivers outside returns
- Motto: A true leader steps out when others step back
- Biggest perk of the job: My hugely diversified role allows for mental Olympics every day
- Coffee: Decaf Americano
- Cocktail order: Zacapa rum
- Favourite book: The Road Less Travelled – Scott Peck
What was your first job?
At age 16, I started working in a menswear store selling luxury goods.
What was your first role in business?
I worked as a junior salesman at SCC, which is part of our family business. The digital solutions and services provider has transformed from a small company my father started 50 years ago to Europe’s largest private technology business.
When did you know you wanted to build a career tech?
From an early age, I recognised that the technology sector offers constant change and evolution. Having grown up and worked in the West Midlands, I knew I also wanted to experience the City as another avenue for growth and opportunity. My time building my career in London is why I’ve had a home here for over 20 years.
What’s one thing you love about the City?
I still love London and all it offers: the restaurant scene, the culture, the parks, the countless classical architectural buildings juxtaposed with the modernity and constant evolution of the city.
And one thing you would change?
Improved safety, especially in the West End, where crime is a real issue. It can sometimes feel unsafe to use a mobile phone or wear a watch or jewellery these days. This issue deters visitors and investment in our great city.
What’s been the biggest adjustment to transitioning to the startup world?
My family is lucky to be investors at every level of the cycle. Whilst principally a late-stage, cashflow-driven investor, we are also one of the most prolific EIS investors and hold a large number of series C&D positions in the US. Last year, we supported young entrepreneurs through the One 2 Win competition in the West Midlands with a £1m investment. This year, it’s been extended nationally through Tech Nation’s Rising Stars One to Win Competition.
What’s your most memorable business lunch?
I am lucky to have met many of our current and historic political figures, including past Prime Ministers. Meeting John Major was particularly memorable. He was one of the most impressive men I have met, and this was in stark contrast to the media coverage he got when in office. He was a clear world leader with a mature and balanced outlook. I often find this when meeting politicians who are no longer serving, their balanced approach to partisan matters is very refreshing.
And any City faux pas?
No one major faux pas stands out, but the life lessons continue! As many readers will appreciate, errors are part of life and go hand in hand with success. Learning from mistakes and ensuring they are not repeated is critical.
What’s been your proudest moment
In business, I have been blessed with success, particularly in building and selling businesses. In the last 15 years, over £500m of businesses have been sold.
My family business is celebrating its 50th anniversary this year, which is a massive achievement. We are particularly proud of our main IT services business, SCC, and its ongoing relevance to the market.
And who do you look up to?
As a business leader, Jack Welsh, the former chairman and CEO of General Electric fascinated me as a younger man. I look back now and his legacy is less clear, but the way he led GE to become the largest company in the world and the rigour of his management style was a tour de force.
Are you optimistic for the year ahead?
As a business leader, I am always optimistic about the prospects of change within my own organisation, however, I am less optimistic about the business environment more generally. These days, about half of my time is spent working on various not-for-profit projects, including chairing Family Business UK. Last year’s budget dented business trust in government. Tax rises and changes to employment working practices eroded confidence. We need to see the government’s much-talked-about growth agenda really delivering.
We’re going for lunch, and you’re picking – where are we going?
ROKA is a go-to for me. Healthy, tasty and always on the money.
And if we’re grabbing a drink after work?
The back bar at the Connaught Hotel is pretty hard to beat, anywhere in the world.
Where’s home during the week?
I live in Mayfair in the week.
And where might we find you at the weekend?
I am lucky to also have homes in the Cotswolds and the south of France.
You’ve got a well-deserved two weeks off. Where are you going?
The sea always beckons me, so perhaps sailing in the Caribbean or my lifelong love of Italy takes me there a few times a year.