A Skelmersdale-based manufacturer of energy saving systems for industrial, domestic and commercial users has launched into new markets with specialist support from Boost and the Lancashire Manufacturing Growth Fund.
Power Efficient Systems are manufacturers of EnergyAce, an innovative energy saving system which combines Power Factor Correction (PFC) and Voltage correction equipment. The business has experienced sustainable growth since it was established in 2002.
Eileen Vizard director of Power Efficient Systems, said: “We have been performing well due to our innovative new products for the domestic and industrial sectors. However I knew that if we were to target clients that would take increased volume and variety across our product and service portfolio we could be more effective. However this would require market intelligence that was not available to us.”
The cost to bring in the external expertise required to research and implement a business development strategy was prohibitive, so Eileen called on support from the Lancashire Manufacturing Growth Fund, a grant funding programme aimed at increasing the productivity of small and medium-sized manufacturing enterprises in the county.
Eileen met with Phil Anders, a specialist manufacturing adviser, to talk through the businesses growth ambitions and how the grant could support this. Together, they developed a business development consultancy project which would bring in the expertise the business required, with 30% of the cost funded by the Lancashire Manufacturing Growth Fund.
Power Efficient Systems procured the services of an industry specialist to provide market intelligence which enabled them to develop a business development strategy focused on targeting customers offering the greatest return on investment. As a result, the business has entered new market sectors and higher profile supply chains.
Eileen says: “I am delighted with the impact that the project has made to our business. Even at this early stage of implementation it has created new business opportunities, and we’ve recruited a new member of staff to help support this growth.”
Phil Anders, the Lancashire Manufacturing Growth Fund specialist manufacturing adviser, said: “Power Efficient Systems is an engineering led, well respected business and they are renowned as offering quality products, services and customer experience.
“The new markets which have been opened up present the opportunity for increased productivity, profitability and growth that they needed. Resolving the complexity of identifying target markets and supply chains, means that Eileen and her team are already winning new business. They have they taken on a new member of staff and are looking to grow significantly over the next year with this strategic approach.”
Are you a Lancashire-based manufacturer with growth aspirations? For more information and to apply for the grant please contact Boost on 0800 488 0057 or: