12 news
GRITIT invests in fleet with Barclays’ support
GRITIT, the first company in the UK to specialise in winter gritting and snow clearance has secured a £700,000 asset finance and working capital facility from Barclays Corporate.
The company, which was named recently 37th in The Times Fast Track 100, with an 83% increase in sales in 2011, has used the new funding to invest in 30 new vehicles and gritting trailers, bringing its fleet up to 150, located in 92 strategic depots across Scotland, the Midlands, north, south west, south east and now Northern Ireland as part of the firm’s recent expansion plans.
The investment follows a number of new contract wins and a growing client portfolio.
GRITIT’s managing director, Alastair Kight said: “Every year the UK faces tough challenges when dealing with unpredictable winter weather, and by understanding the issues our clients face, we have introduced innovative solutions that help organisations and government departments take the necessary action required to keep their properties operational, safe and accessible, and at the same time avoiding overspend and the negative impact weather conditions can have on other essential services.“
Kight continued: “To be the first company in our sector to be recognised in this prestigious listing is an incredible achievement. It reinforces our belief in business in the UK, and supports our plans for the future growth of the company. We have committed to investing over £4 million and will look to create in excess of 265 new jobs in the UK and Northern Ireland in the next few years. We could not do this without the continued backing of Barclays.“
The business, which was founded in 2004, uses cutting-edge technology to accurately predict the weather and track its 300 operators in the field. So when the temperature drops to zero degrees or snow is forecast, the GRITIT team sets to work gritting and manually clearing snow from thousands of hospitals, universities and major corporates, keeping car parks and premises safe, open and businesses operational even during the worst conditions.
Matt Benham, financial director at GRITIT, added: “At a time when access to funding is difficult for small businesses, Barclays has been fantastic in ensuring the correct support and financial facilities are available to enable continued investment into the UK and aid the growth strategy of the business. In Northern Ireland, where we have just launched, we are investing over £1m and looking to create more than 80 new employment opportunities in the next few years.“
Jonathan Cooley of Barclays Corporate (left) with Matt Benham of GRITIT
Jonathan Cooley, relationship director at Barclays Corporate in Basingstoke, said: “GRITIT is a great example of an innovative British business which has prospered during the economic downturn. The company has enjoyed tremendous success over a relatively short period of time and secured jobs at a challenging time for the economy“.
PwC supports SMEs in taking up the export challenge
The Government is setting a challenge to businesses in the south east to look to exporting in order to lift the country from the worst economic crisis in living memory and has announced measures to encourage small and medium businesses (SMEs) to play their part in the National Export Challenge.
The National Export Challenge event, which is supported by PwC and HSBC, came to Mercedes-Benz World in Weybridge, Surrey, on Tuesday January 10 as part of a programme of events across the UK bringing advice and expertise to help SMEs play their part in reversing the decline in UK’s share of global exports over the past decade from 5.3% in 2000 to 4.1% in 2010.
Trade and investment minister, Lord Green, led the event to set out what the challenge means for SMEs in the south east and to encourage companies to enter the ’Exporting for Growth’ prize. The prize, which will be awarded to the SME with the best exporting idea, is open now to all SMEs with an entry deadline of January
www.businessmag.co.uk
31, 2012. A winner from each region of the UK will receive real practical advice from PwC to help to make their exporting aims a reality.
John Minards, PwC south east regional chair, said: “Export is critical to lifting the UK out of the economic slump and creating British jobs. By increasing the number of companies who export by roughly a quarter, about £36 billion could be added to the UK economy. Clearly, the many SMEs based in the south east have a big part to play in this. In our recent survey of private businesses, nearly half of south east companies surveyed said they expected to expand into new geographical markets as a key proponent of their growth strategy.
“There has been a perception that exporting is only for large companies, but there are plenty of examples of small companies in the region who have taken the leap, overcome the challenges and are now reaping the rewards of exporting. Hopefully, with initiatives like this one and the help and advice from professional advisers we will see many more south east
companies’ making their dreams of exporting a reality.“
Competition details
The ’Exporting for Growth’ prize invites applications from innovative SMEs throughout the UK to enter and is for the most workable new export idea ready to be converted into a successful international opportunity. The UKTI is particularly interested to hear from first-time or novice exporters.
The 12 possible winners throughout the UK will be innovative companies with the best exporting ideas which they can pitch successfully to a panel of business ’experts’.
To be considered for entry applicants must have an active UK trading address and be an SME according to the European Union definition.
To enter and for more details, go to:
www.ukti.gov.uk/export/howwehelp/ item/
213780.html
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – FEBRUARY 2012
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