County's resilience shines through

The resilience, innovation and determination of the county’s top SMEs was highlighted at Lancashire Business View’s Hot 100 breakfast.

The gathering at Mitton Hall near Clitheroe was held to celebrate the magazine’s 2022 Hot 100 list of the Lancashire’s most profitable SMEs.

It was attended by representatives from companies on the list and an invited audience from the worlds of academia, business support, local government and the media.

The well-attended morning event was sponsored by Woodcocks, Haworth and Nuttall Solicitors, Nelson and Colne College and PM+M and supported by Lexus Preston and Limitless Public Relations.

Dean Rogers of PM+M accountants, who compiled the Hot 100, told the audience: “There is some serious resilience in the list.”

He said that despite most businesses being affected by the pandemic, the overall profit generated by the 100 had risen by £80m compared to the previous year, with the construction sector proving particularly strong.

And he predicted that Lancashire’s resilience would again come to the fore over the next 12 months, whatever the difficulties ahead.

Nadeem Memon, group financial officer at textile group Panaz, number 64 in this year’s list, said it had continued to invest in digital technology and automation on its growth journey, with

 efficiency at the heart of the strategy.

He added: “We use the profits that we generate and reinvest those back into the business.”

As well as its investments in processes, the group had also set up its own manufacturing operation in east Lancashire and had made acquisitions. Nadeem said: “Don’t hesitate to invest to try and accelerate your businesses.”

Victoria Last, marketing manager at Haslingden based Carvansons, number 55 in this year’s Hot 100, said the business had concentrated on exports and new products since moving into

 Lancashire from Greater Manchester.

The business manufactures bulk ingredients for the soap, cosmetic and detergent industries, creating a range of fragrances. Victoria said: “During Covid we adapted our products” and stressed that being able to “pivot and adapt “was critical for businesses looking to meet the challenges ahead.

Tracy Clavell-Bate, head of development and acquisitions at Barnfield Construction, shared some of its business thinking and strategy. The company came in at number 15 in the Hot 100.

She explained how the east Lancashire headquartered group had entered successful partnerships with both the public and private sector, including several joint ventures. Barnfield has its own

 development portfolio and is now also looking at bigger contracts.

Tracy said: “Our biggest challenge is recruitment, getting people to come to our end of the M65.”

The breakfast event also heard from Sara Beaumont, director at Woodcocks, Haworth and Nuttall Solicitors and Morag Davis, assistant principal at Nelson and Colne College.

Sara said it was important for businesses to have conversations and to get support. She said: “Acknowledge your strengths but admit your weaknesses. It is easy in business to think you should be able to do everything.”

She added: “There is nothing wrong with admitting you are not particularly good at something. It takes a lot of strength to actually recognise that and go and find someone who can help you.”

Morag urged businesses to think about the skills pipeline and where their talent was coming from.

She said many businesses did not really know how Further Education colleges work, the help they can provide and the skilled people they can deliver for them. She stressed: “Colleges have to work with businesses to respond to their skills needs.”