In this week's Q5 - five questions to industry leaders - we spoke to Martin Kent, chief executive of distribution firm Abacus.

You’ve been in distribution since 1969. What is the single biggest change that you’ve noticed since that time?

We’ve become a much more mature industry than we were in the seventies and eighties. We’re still growing, but less fast, and competition is greater.

Only well-managed, tightly-structured businesses can now succeed– there was a great deal more slack in those days. There have of course been a huge number of changes, but that’s probably the single most significant.

How do you get to sleep at night when you’re in the middle of an acquisition deal?

Martin Kent

I never have trouble sleeping – though colleagues who travel with me know that I actually get by with very little.

Does the electronics industry face too many European directives?

Undoubtedly, I am not a fan of the concept of a European parliament. If you create an environment like that, don’t be surprised at what you get out.

Despite years of ‘harmonisation’, there are still a great many different regulations in each country covering all sorts of areas, as well as European standards.

What single thing would you like Tony Blair’s successor to do to positively influence UK business?

Unwind all of the stealth taxation – it’s had a significant impact on business costs.

Moves like the one per cent on national insurance and the hit on pension funds have been a very clever political sleight of hand – but they are real taxes that we’re all paying, though they’re not as visible as the income tax that is taken monthly from our pay.

If you were paid for doing what you loved best, what would you be doing?

I’d be following the England cricket team around the world. I enjoy cricket – and the game is played in some of the most attractive countries in the world.

Though it sounds corny, I genuinely enjoy what I do and I’ll continue for as long as our shareholders are willing to pay me.

Abacus Group