banking update 23
South coast business models that are achieving success ...
In a challenging economic environment, many British businesses are struggling to find growth. In recent weeks, the British Chambers of Commerce (BCC) and Confederation of British Industry (CBI) both revised their GDP predictions for 2012 – from +0.1% to -0.4% and +0.6% to -0.3% respectively
The companies which are currently having the most success and continuing to grow in spite of this bleak picture are those which are focusing on their core competencies and the values at the heart of their business. This includes brand and reputation, customer service, and better managing core products.
During 2012 the Solent corporate banking team at the Royal Bank of Scotland has, among others, supported three great examples of such firms – all market leaders in their field and important contributors to the regional economy.
The first of these is The Goodwood Group. The historic Goodwood estate, family seat of the Duke of Richmond, has evolved dramatically since its first physical foundations were laid over 300 years ago.
‘Creating personal and exclusive experiences that are exceptional value for money is what we are all about. In that way we build trust in and loyalty to the brand‘
It is the home of world-famous horse racing meetings, particularly Glorious Goodwood, and motor sports events, including the hugely popular Festival of Speed and Goodwood Revival, attracting around 325,000 people this year alone. The company also has business interests spanning aviation, cricket, organic food, a private members‘ club, a hotel, health club, golf and shooting. At the heart of all of these activities is the uncompromising attention to its brand.
Goodwood Group managing director Alex Williamson explained: “Creating personal and exclusive experiences that are exceptional value for money is what we are all about. In that way we build trust in and loyalty to the brand.“
The business is branching into new areas. It is, for example, collaborating with luxury British clothing brand Belstaff on a new collection to be released next year as well as developing a new social networking platform for auto fans called
FortyOneSix.com. Throughout all of these investments, supporting the Goodwood brand remains fundamental.
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – OCTOBER 2012
Williamson said: “We will never do anything that isn‘t an authentic celebration of Goodwood. We are in a position where we have to select the right opportunities and pursue them with conviction.“
The company‘s approach is clearly working and it is achieving a profit margin of 10%.
Despite operating in a challenging sector, Andover-based Stannah Group is also expanding its brand into new geographic markets based on its core business strengths as a global leader in the design, manufacture and installation of stairlifts and a UK leader in passenger and platform lifts.
Stannah has a long and established engineering heritage going back to 1867 and it now employs 1,500 people, distributing its stairlifts to 42 countries worldwide. It sells more stairlifts than any other company in the world and last year produced its 500,000th unit. Not only is it taking advantage of its brand to enter emerging markets such as China, but it is also actively seeking to make acquisitions in the Hampshire area which complement its existing business and is growing steadily at 6% per year.
Jon Stannah, Stannah Group, said: “Our business is founded on The Stannah Promise, which is about doing things well, making products we‘re proud of and growing the business in a responsible and ethical manner.
Not only is the Stannah Group taking advantage of its brand to enter emerging markets such as China, but it is also actively seeking to make acquisitions in the Hampshire area
“I believe that remaining true to these core principles has played a huge part in our success and is in no small part responsible for our success on a global scale. We are testimony to the fact that an independent, family-run firm has a place leading British industry and can be a world-leading manufacturer.“
The Peverel Group, one of the UK‘s leading property management services businesses, is in a slightly different position to the first two
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companies having been in administration until March this year when Chamonix Private Equity Partners LLP and Electra Partners LLP, with support from RBS, bought Peverel out of administration.
Since the buyout, the company, under the guidance of chief executive Janet Entwistle, has refocused its activities around core attributes of customer service and offering value for money. Indeed, after a far-reaching research and consultation exercise with its key stakeholders, it has recently introduced a new customer charter which sets out exactly these commitments.
Since the buyout, The Peverel Group has refocused its activities around core attributes of customer service and offering value for money
Commenting on the company‘s ambitions, Entwistle said: “Our goal is to develop the business by delivering on our promises to customers, building trust with all our stakeholders and operating to the highest standards of integrity. Our customer charter marks a new approach for Peverel and underlines our determination to create a business that is focused on the needs of its customers.“
As well as being huge employers and drivers of wealth in the region, these three companies share a number of common attributes in how they run their business and focus on their brand. In the case of Goodwood and Stannah, this has served to help fuel their growth in spite of the economic downturn while, in the case of Peverel, it has helped the company to refocus and rejuvenate after a difficult period in administration and will help provide the basis for its future direction.
Dan Salanson, head of corporate banking for RBS in the Solent, said: “These companies realise that brand and reputation are crucial to the success of their business and I believe that this is even more important in the current climate. People are more conscious about how and where they spend their money which means factors such as quality of service and product and value become more important.
“We are delighted that these important local businesses have chosen to move their banking to RBS during 2012 and are proud to now count them among our customers. Hopefully we can continue to play a role in helping to drive their future growth plans.“
Details: Dan Salanson 023-8024-2168 07717-422731
Dan.salanson@
rbs.co.uk
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