Lindsey Nearn accesses the Business Inspiration Programme run by the LLMC
The future is looking bright for a plant hire company from Lincolnshire which has benefitted from an SME Support programme- Business Inspiration, which was run by the University of Lincoln in 2010-2011.
Flying Hire, based in North Scarle, near Lincoln, has seen a dramatic transformation in fortunes over the past 12 months.
Thanks to the Business Inspiration course, the company is now looking forward to its 10th anniversary this year with a clear business plan, a healthy balance sheet and a burgeoning order book.
Flying Hire was hit badly by the recession, and it became clear to Director Lindsay Nearn that she needed a clear strategy and business plan to turn the company around.
Lindsay decided to take action and enrolled onto the Business Inspiration programme alongside 10 other SME’s (Small and Medium sized Enterprises) from a diverse mix of sectors and backgrounds.
The course, which was delivered in bitesize modules, provided guidance on key aspects of running a small business, such as identifying new business opportunities, managing cash flow and developing marketing strategies. With a mixture of academic and business-led teaching, Business Inspiration’s practical, hands-on approach made it accessible to a wide range of SME’s.
Since completing the Business Inspiration course, Flying Hire has turned their fortunes around. They have expanded their fleet of generators from 6 to 50 with more expansion planned, and they have won some very large contracts both locally and nationally.
Their orders are have increased by over 300%, turnover is up and their profit margins are better than ever.
Lindsay said: “The course was brilliant. It really helped us to spin the business around, to understand how it operates and implement changes. When you’re running a business, it’s difficult to take a step back and look at it as a whole. That’s exactly what the course enabled us to do. We’ve looked at our customer base, our finances and our marketing. We now have a proper business plan and a vision that we are all working towards. I feel that we can now push on in a measured way, rather than just hoping that everything will work out.”