roundtable: accelerating growth 51 How to grow our own future


The Business Magazine and Grant Thornton invited sector experts from the Thames Valley region to Reading IQ to discuss how to create, enhance and accelerate growth within UK businesses


Participants


Ed Cooper: Director, VitalSix, business management consultants, Reading


Emma Gibson: Corporate partner, Shoosmiths lawyers and director of Thames Valley Berkshire LEP


Lined up to debate: our Roundtable team Journalist John Burbedge reports the roundtable highlights


What are the characteristics of successful growth?


Our roundtable attendees are all successful in their own right, many of them already growing rapidly. During the debate, similar characteristics became obvious within the group – a determination to decide their own future, to challenge the norm, be customer- focused, the best in their class, with talented and empowered staff, and willing to change. Perhaps these are the keys to growth?


Grant Thornton’s Jim Rogers gave his experienced insight into the characteristics of the people and culture of working in fast- growing businesses:


• “You can sense the wow of working in such businesses. Something hits you as you enter;, the offices are bright and open. Someone has obviously thought carefully about how the business should look, feel and sound like.


• “They often have ‘academies’ where they do research or train staff – resourcing their own development requirements.


• “The amount of time spent on their incentivisation and reward programmes is indicative.


• “Their very flat management structures say a lot. They have a problem, they take control, they sort it quickly. And, often, nothing else matters other than customer service.”


Are opportunities for growth being inhibited?


Richard Steer revealed that his company achieved double-digit growth over the past seven years, and now had a £30 million- plus turnover, with 60% of growth achieved organically, 40% by acquisition.


THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER 12/JANUARY 13


“One growth area has been through strategically acquiring smaller operators – as a form of consolidation, it improves our margins, allows us to take out operational cost, and extends our business model within our sector.


Cashflow was the inhibitor that Steer highlighted. JCA Coatings chose to adopt a fairly high-geared financial status, and it was not always easy to get additional funding for growth opportunities that arose. He was looking at alternatives to the obvious bank offerings.


One reason for JCA’s growth was its strategic decision taken during recessionary 2008. “We decided to accelerate our growth into new market areas rather than conserve cash, put on our tin hats and batten down the hatches. It felt like we were running one way and everybody else the other, but we wanted to be different. We saw the recession as an opportunity to get slightly ahead of the curve, to grow into business areas that naturally linked to what we did.” He exampled a car parts business bought out of administration, “bolted into our award-winning customer service operation that was already growing sales of our car paints. We were able to satisfy customers and suppliers and gain a secondary growth.


“I am acutely aware that I am only one of 135 and need a very good team around me to make things happen on the ground and deliver our objectives. My clear strategy for employing staff is to get the best that


John Heynen: Commercial director, R H Amar, fine food distributors, High Wycombe


Richard Holmes: Growth manager, Grant Thornton


David Phillips: Managing director, TSL (Television Systems), Maidenhead and Marlow


Jim Rogers: Partner, Grant Thornton, Winnersh


Richard Steer: Managing director, JCA Coatings, Reading


Peter West: FD, Portal Partnership, IT business consultants, Bracknell


David Murray: Managing editor and publisher of The Business Magazine, chaired the discussion


Jim Rogers


I possibly can and paying accordingly,” explained Steer.


David Phillips revealed that TSL had grown outside the UK broadcasting market. “Growing a system integration business in our home market was not a recipe allowing sufficient growth.” So TSL started to focus on long-term projects abroad and made some very useful contacts. “I am a firm believer that networking is a core aspect helping to develop and grow a business. It is about forming personal working


Continued overleaf ... www.businessmag.co.uk


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60