10,000 Small Business programme boosted confidence, collaboration and cash
GOLDMAN Sachs’ 10,000 Small Businesses programme gave one Cheshire businessman the confidence and knowledge to drive growth in his company in a serious and strategic manner.
David Forrest founded Compliance Control in 2006 as a specialist in regulatory compliance and validation services for the pharmaceuticals and life sciences sectors.
He has since developed and refined the Northwich business through the provision of a Software as a Service (SaaS) Electronic Quality and Document Management System.
Mr Forrest, who attended the Goldman Sachs 10,000 Small Businesses programme in September 2011, considers one of the key impacts to have been the support he received to build a comprehensive business growth plan.
“The programme gave me belief, motivation and a framework for my growth plan and put me in touch with many other people – such as mentors and financial advisers.
“I am now in the third phase of my five phase plan: first was the detailed application to get onto the Goldman Sachs programme; second was being part of the programme to develop my business plan; third was understanding and finding the funding I needed.
“Now I am in the operational and delivery phase – going to market with the product where I must deliver revenue, profit and jobs; the final phase will be an exit.”
Funded by the Goldman Sachs Foundation, 10,000 Small Businesses is a practical programme designed to help the leaders of established small businesses and social enterprises define and achieve their growth aspirations.
Compliance Control ‘s predicted turnover for 2013 is £800,000. The company employs 12 staff, with plans to grow to 20 by 2015.
In January 2012, the firm applied for a £250,000 grant from the Technology Strategy Board and a further £110,000 from the Biomedical Fund, which was approved in August 2012.
“Applying for the grant was a rigorous process but I had already done the background work on the 10,000 Small Businesses programme,” Mr Forrest said.
He has also sub-contracted some work to another business that was on the programme: “When I applied for the funding I assumed I would employ most of the staff, but I met someone from a software company on the programme who helped me to design and set up the core of the new software product.
“This allowed me to control costs, but also help the growth of another business,” he added.
In the North West 10,000 Small Businesses is partnered with Manchester Metropolitan University. Applications are invited for the next phase. For more details on the programme go to: www.10ksbnw.co.uk or call 0161 247 3871 or email 10ksb@mmu.ac.uk
