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Grant sees digital agency invest to improve productivity
A digital agency has expanded its team and invested in tech in a bid to improve productivity by 50 per cent after receiving a Business Productivity Grant.
Genius Division, based at the Business Village Barnsley, has gained grant support to back an investment package designed to slash the average time it takes them to complete website projects.
The aim is to tackle the stop-start nature of the process by reducing unproductive downtimes, often caused by waiting for missing pieces of content from clients or others.
Pilot projects bringing more control in-house and enabling the team to take the lead on more content creation have already shown they can reduce average start-to-finish delivery times on larger website projects from 151 days to 75 days.
The business is now set to spread this efficiency saving across all output after investing in new photography, videography and drone equipment, skills development and the recruitment of two additional staff members. The trainee web development and digital marketing executives take their team from seven to nine.
Genius Division’s investment has been backed by a Business Productivity Grant delivered by Barnsley Council through the Enterprising Barnsley programme and supported by the South Yorkshire Mayoral Combined Authority (SYMCA); part-funded by the government’s UK Shared Prosperity Fund (UKSPF).
Genius Division creative director Craig Burgess said: “We had an honest look at what we do and realised that, whilst we’re always busy, we had to change the way we work to improve our productivity and profitability as a business.
“Although we meet our own internal project deadlines, the sticking point has always been waiting for the creation of website content by others within a similar timescale.
“We realised we could help clients to do this much more efficiently by making this part of our delivery package. By bringing this work in-house, we have more control and eliminate a certain amount of drag involved in chasing clients and outsourcing work.”
Business support advisor at Enterprising Barnsley Judy Sidebottom helped Genius Division apply for a Business Productivity Grant to support its investment.
Judy Sidebottom said: “Genius Division has grown as a successful digital agency over 14 years and this bold move to invest in improved productivity inhouse demonstrates the business’ growing maturity. We are very pleased to support their ambition and look forward to seeing the company’s larger, better equipped team go from strength to strength.”
Craig said: “We knew we wanted to invest, but gaining the Business Productivity Grant has made it happen quicker and all at once so we can see the project and cash flow management benefits sooner. Our clients get their new websites sooner and we get jobs done and invoiced for quicker.”
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Bradford business bought out of administration by Flowtech Fluidpower
Flowtech Fluidpower, the specialist technical provider of fluid power and motion control products and engineering services, has acquired the business and certain assets of Bradford-based Thomas Wright/Thorite Group Limited (Thorite).
The transaction completed immediately following the appointment of administrators, Interpath Advisory, to Thorite.
Mike England, CEO of Flowtech, said: “We are delighted to acquire this well-respected brand and skilled workforce. On behalf of all of us at Flowtech we welcome our new colleagues to the Group. This is an exciting moment for us all as both businesses have a history of deep expertise and knowledge in power, motion and control.
“For us at Flowtech, adding Thorite’s expertise in pneumatics, automation and compressed air capability is an excellent fit and aligns perfectly with our strategy – a world of motion – which will enhance our scale, margin profile, and help to accelerate market share gains.”
Thorite is a provider of pneumatics, compressed air, vacuum and fluid handling products and systems and has traded since 1850. It operates from seven sales and service centres across the UK.
Under the terms of the acquisition, Flowtech will acquire all the plant and machinery, vehicles, stocks, and intangible assets of Thorite for a total cash consideration of £350,000.
Flowtech has also repaid Thorite’s outstanding debtor finance facility of £1.7m in return for an assignment to the Group of a debtor book totalling £2.6m. A sharing arrangement relating to the excess of debtor book recoveries over and above the £1.7m paid has been agreed with the administrator of Thorite.
In the audited accounts for the year ended 31 March 2023, Thorite generated revenue of £21.2m and delivered an operating profit of £79,000. Thorite has since experienced cash flow challenges and incurred operating losses due to a combination of internal issues and market headwinds. Thorite’s operating losses in the year to 31 March 2024 are estimated at £1.2m.