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Celebrating International Women's Day with Louise Shute

In celebration of International Women's Day, we continue our series by highlighting the inspiring journey of female leaders in finance who are making a significant impact throughout their career.In this installation we are thrilled to feature an interview with Louise Shute, the Chief Financial Officer of Hollybank Trust, a not-for-profit care provider dedicated to supporting individuals with complex needs. Since joining Hollybank Trust in 2019, Louise has been instrumental in driving financial sustainability, operational efficiency, and strategic growth. Her leadership goes beyond numbers, focusing on ensuring that every financial decision aligns with the organisation's mission to provide outstanding care. Join us as we dive into her career-defining moments, the traits that have contributed to her success, and her invaluable advice for the next generation of female finance leaders. 1.Please can you provide a summary of who you work for and your current role?I am the Chief Financial Officer of Hollybank Trust, a large not-for-profit care provider that delivers specialist care and education to individuals with complex needs. Since joining in 2019, I have been responsible for overseeing finance, IT, estates, and HR, ensuring financial sustainability, operational efficiency, and a strong, well-supported workforce. My role is not just about numbers—it’s about making sure every financial decision supports the organisation’s mission. I work closely with the executive team and trustees to strategically plan for the future, secure funding, and drive initiatives that enhance the care we provide. This includes leading acquisitions, driving digital transformation, and optimising resources to ensure we remain sustainable and continue to deliver outstanding care in an increasingly challenging financial landscape.2.What have been the one or two most defining moments in your career to date?A few pivotal moments have shaped my career and leadership style: Building a finance function from the ground up – One of my most challenging and rewarding experiences was setting up an entire finance team from scratch for a large care group. Bringing the finance function in-house, creating new systems, and ensuring financial stability in a complex organisation gave me invaluable leadership experience. Leading an acquisition – More recently, I successfully led the acquisition of a care business, ensuring financial due diligence, securing funding, and integrating the new business into our operations. This was a defining moment in navigating the complexities of growth while maintaining financial security. Driving digital transformation – Overseeing our transition to a nearly paperless organisation has been a major milestone. Introducing new financial, HR, and operational systems has made us more efficient and forward-thinking, ensuring we are well-equipped for the future. Beyond these, every year brings new challenges in the not-for-profit and care sector, where funding is tight, costs are rising, and financial sustainability is an ongoing battle. Navigating these challenges while keeping the organisation strong and adaptable is something I take pride in.3.What are the most important personal traits, values or characteristics that, being a female finance leader, has really helped to contribute to your success?Leadership isn’t just about making decisions—it’s about bringing people with you. The qualities that have shaped my success as a finance leader include: Compassion and genuine interest in people – I care about my colleagues and take the time to listen, understand their perspectives, and create a supportive environment. Decisiveness and resilience – In finance, tough decisions need to be made. I can balance strategy with reality, ensuring we remain financially stable while protecting the organisation’s core values. Strong communication – Finance can sometimes feel like a separate world, but I ensure complex financial insights are communicated clearly to teams, trustees, and stakeholders so they can make informed decisions. Positivity, even in difficult times – The financial landscape for care providers is constantly evolving, and it’s easy to focus on the challenges. I believe in staying solution-focused and adaptable, ensuring we embrace change rather than fear it. A positive outlook helps to motivate teams, find creative solutions, and maintain momentum even during difficult periods. I wouldn’t say I’ve faced direct challenges as a woman in finance, but finance leadership remains a male-dominated space, especially at board level. Many women struggle with imposter syndrome, and I think it’s crucial to own your expertise, trust your ability, and bring your unique strengths to the table.4.What is the one piece of advice that you would share with the next generation of female finance leaders as they look to build their careers?My biggest piece of advice is: do what makes you happy. You spend so much of your life at work—it’s essential to enjoy it. If you don’t, don’t be afraid to seek out something that challenges, excites, and fulfils you. Beyond that, a few key lessons I’ve learned: Be true to yourself. Work for organisations that align with your beliefs, morals, and values. Build a strong team. Surround yourself with capable, driven people—it will make all the difference. Keep learning. I haven’t had an official mentor, but I invest in seminars, courses, and networking to continuously grow. Finding a mentor or widening your professional network can be invaluable. Stay adaptable. Finance, technology, and the business landscape are evolving rapidly. Staying open to change and embracing new ways of working will set you apart. Above all, believe in yourself. Women often doubt their abilities more than men, but confidence comes from experience. Keep learning, keep leading, and don’t be afraid to step up and take your seat at the table.Louise’s journey is a testament to her power of resilience, compassion, and strategic vision in leadership. Her dedication to Hollybank Trust's mission and her ability to navigate the complexities of the not-for-profit sector have set a remarkable example for aspiring female finance leaders. Her advice to stay true to oneself, build strong teams, and continuously learn resonates deeply, reminding us all of the importance of passion and adaptability in our careers. We hope her story inspires and empowers the next generation of women to pursue their ambitions with confidence and determination. While women are making strides in leadership roles, a significant gender gap still exists. In 2024, 36% of new CFO hires in FTSE 100 companies were female, a notable increase from 2023 when only 14% of new hires were female [1]. Despite this progress, women hold only 25% of CFO positions in the FTSE 100 [2]. These statistics highlight the ongoing need for greater gender diversity and support for women in finance. Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAY and let's chart your career path together.

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Those of you that are regular readers of my articles will know that their content is often inspired by something I have recently read or an exchange that has taken place which I’ve been mulling over in my mind for several days afterwards. That was very much the case again, however thanks to a timely phone call from a long-term business associate, you have been spared a tale involving a white shirt, laundry day and a rather unflattering revelation – which I’m not yet quite over - from my wife.

During one of our regular catch ups, my client and I commented that we had both recently read the same article with some interest. The headline – and I paraphrase at this point – claimed that Yorkshire had seen 25 per cent fewer insolvencies in 2020 when compared to 2019. And whilst, at almost any other time, fewer companies going out of business year on year would generally be welcomed by many as a positive, we were both somewhat surprised, considering the year that was in question.

Let’s be under no illusions; 2020 was a year like no other and whilst some sectors found that lockdown restrictions offered them opportunities to grow there were many more that faced – and are still facing - countless struggles and uncertainty which will take months if not years to recover from. So how could it be the case that during the most unprecedented 12-month period for businesses ever, more somehow managed to survive when compared to the previous year?

Without wishing to get political, one of the suggestions that came from our conversation was that the Government support packages have done what they set out to achieve and – whilst not perfect, with many firms and individuals falling through the cracks- these were in the most part, widely available and quickly implemented, particularly if you consider the furlough scheme. But have they been too generous in some instances? Certainly if we were looking at the number of businesses that didn’t survive being on a par with the previous year – or even slightly higher – you could conclude that the support offered had been about right as the number of casualties showed no real differences and the equilibrium maintained.

However, and whilst I certainly don’t begrudge them their survival, are we potentially facing a situation where businesses have survived because of the support they have received and in any ‘normal’ year, when such packages would not have been in place, they would have found themselves without a future?

What would be the downside to this? Jobs have been protected and businesses have survived to see another day. But in doing so, does this hamper the ability of companies to recover overall?

Take any ‘normal’ year, not all businesses survive, and the stronger operations would move into the space they vacate and take advantage of the resulting opportunities in order to grow and invest. Jobs are created, expansion takes place and so on and so forth. However, what we could now see is an artificially false competition – businesses which in any other year would not have survived, have been given a reprieve and are now fighting for their lives and, in doing so, may potentially be prepared to lower their costs way below the rest of the market making the route to recovery for a far greater number of operations a much more drawn out and difficult journey to travel.

As we tentatively ease our way out of lockdown, hopefully for the final time, it remains to be seen if the support that has been so heavily invested – currently to the tune of upwards of £280billion and counting – has indeed ensured the country can recover as quickly and as painlessly as possible or if, for some, it has simply delayed the inevitable and once that support is withdrawn, they find they are unable to survive. The question remains, will their prolonged existence have far reaching consequences for companies on the next rung up the survival ladder from which they may struggle to overcome?

Sharp Consultancy specialises in the recruitment and executive search of finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for temporary, interim and permanent roles across the full spectrum of positions throughout Yorkshire and beyond. CONTACT US today and speak to a member of our team about your recruitment needs or next career move.