Fast track plan means growth for North firm

Feb 24 2009 by Karen Dent, The Journal

Mr Hall sat down with his mentor to make a list of what he wanted to achieve and they discussed how he would meet his targets. One of Mr Hall’s key aims was to own the business outright with his wife. The couple originally owned 40% of Medical Services, which was set up with help from family and friends, but they were able to buy out the other investors last year.

The business has also met the stringent targets for growth that Mr Hall set himself.

He said: “In July 2006, we’d had a not very good year. We’d still made a profit but it wasn’t very good compared to the year before. I sat down and said I’m going to be double the business in three years but we actually achieved 93% growth in two years.

“In the first six months of this financial year, it has gone up by 53% again. It is growing at a fantastic rate.”

Mentor Mr Storey said he was delighted that Medical Services was going from strength to strength.

“I have found the whole experience very rewarding and am happy to have played a small part in something so successful,” he said.

The Fastest 50 scheme has advised more than 60 County Durham-based businesses on issues such as finance, marketing, funding, people management and growth, in sectors ranging from software to market gardening.

The scheme, run by the county’s five enterprise agencies, has now been extended by a further year.

“Support is particularly important during difficult times like these when businesses are competing in such challenging markets so we are giving more businesses the opportunity to benefit,” said Shaun Stuart, chief executive of The Enterprise Agency which runs the scheme on behalf of the five agencies.

“Companies are helped to maximise their potential.”