Applelec’s managing director Ian Drinkwater recently completed the Goldman Sachs 10,000 Small Businesses scheme which aims to generate a tailored growth plan for participating companies.
To be selected for the programme, each business had to be scalable and capable of generating additional local employment. Research indicates that there is no better investment than in small businesses to stimulate regional economic growth and this provides the strategic aim of the scheme which helps businesses identified as possessing high growth potential to create a customised and measureable three to five year growth plan.
Ian Drinkwater explains: ‘The course forced me to step away from the day-to-day activities of the business to concentrate on an overarching plan for Applelec’s growth. Sharing knowledge and insight with other businesses in a similar growth phase to Applelec was enormously beneficial.’
Facilitated by Leeds University Business School (LUBS), the course modules cover areas of significance to small businesses including: people and management; marketing and sales; operations; business finance; and, identifies funding streams open to small businesses. The tough application process involved an in-depth business assessment with around 60 companies competing for 25-30 places in the Yorkshire region on the five month course. Based on a successful model that Goldman Sachs currently runs in the US, the LUBS scheme provides mentoring, networking and workshops that are rooted in the local business environment.
Over the last two years, Applelec has seen staff numbers double with the opening of a second manufacturing site in Leeds and a three storey building expansion to the existing manufacturing and office complex in Bradford. Identified by Bradford Chamber of Commerce as possessing high growth potential, the company has been assisted by a number of initiatives aimed at helping the business to grow and generate sustainable employment for the region; all fuelled by an increase in demand for the products and manufacturing services offered by Applelec.
With the 10,000 Small Businesses course now complete and the company growth plan in place, Applelec aims to move forward with clear direction by putting in place procedures across all sectors of the company to ensure the increasing demand for products and services is managed efficiently. In seeking professional support to help govern this transitional period, Applelec is setting firm foundations for future advancements.