Inspiring Business by Sharing Success

Business is thriving for pioneering Newark start-ups

A pioneering Newark business has attributed a 47 per cent rise in turnover to the “fantastic support” they have received since winning a prestigious county-wide business competition.

This time last year, Fosse Cashflow Solutions and Red Fox ID, were chosen as leading pioneers by Pioneer 10 Notts, and received a support package worth £15,000. Thanks to this support both companies have been able to double their work force and significantly increase their profitability.

 

Managed by Oxford Innovation, the programme, designed for early stage entrepreneurs and business owners, was hosted across the three Nottinghamshire Innovation Centres; Mansfield i-Centre, Newark Beacon and Worksop Turbine.

 

Together the three Nottinghamshire Innovation Centres have helped hundreds of businesses in the area. They provide the support and recognition needed to accelerate and grow businesses throughout the county and beyond.

Stubton-based Red Fox ID, which develops sophisticated vehicle recognition technology for the toll road industry and Fosse Cashflow Solutions, cashflow specialists which provide bespoke credit control services, were crowned as Best Business Growth Pioneer and Best New Business Pioneer respectively.

 

For Billie-Anne Warriner, founder of Fosse Cashflow Solutions, the help of a business mentor has been crucial, as well as support with the tips and tricks of social media and a telephone answering service.

 

She said:

“Winning Pioneer 10 has been a great learning curve for me. The support has been fantastic for the business. Being able to talk through my ideas and then follow through with an action plan has enabled me to be in the position to scale-up the business.”

 

A turnover increase of 47 per cent along with a 40 per cent rise in customers has helped the company, based at Navigation House, Mill Gate, become a profitable business in only its second year.

 

Billie added:

“I am now working from a business model which has freed up my time allowing me to concentrate on growing and improving the business.”

 

Teri England, director of Red Fox ID, said:

“We are a small but smart team, and when we won a contract to supply the automatic vehicle classification technology for the new road tolling infrastructure in Turkey, we knew we had the technology and skill to complete the project, but not the systems or processes behind the scenes at the time to support such massive growth.

“Winning the Pioneer 10 Award provided us with the support, specialists and knowledge for the company to grow at the rate needed to ensure our Turkish project has been a great success.”

 

Red Fox ID now has a structure in place to support its ongoing growth. The company has doubled its work force to eight and achieved national exposure on BBC Radio 5 Live.

 

Teri added:

“We now have good resources for help and information on growing and developing our business. We have key specialists we can call on at any time to help with the surprises, challenges and requirements which can hit a small company – you can’t put a price-tag on that as it’s invaluable.”

David Smith, Business Growth Director at Oxford Innovation, said:

“It is amazing to be involved in a successful 12 months of growth for two businesses that have been built up through passion and determination.

“These success stories are testament to the support provided for all of the businesses based at the Nottinghamshire Innovation Centres, who work hard to achieve growth in business for all of our customers.”

Managed by Oxford Innovation on behalf of Nottinghamshire County Council, the Nottinghamshire Innovation Centres provide a business base to over 150 growing businesses.

 

Each Centre provides fully serviced offices and workshops, a virtual office facility, hot desk area, meeting and conference rooms. Customers benefit from flexible licence agreements, 24/7 secure access, free parking and a package of business support and coaching customised to the needs and growth aims of each business. The fully inclusive licence fee includes all utility costs.


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