100 Stories of Growth - Insights from Entrepreneurs

Who’s raised equity and debt in the 100 Stories community? 59% of all respondents have raised debt AVERAGE £14,113,059 MALE 55% FEMALE 45% HiB grew its revenues from £8-9m before and after the global financial crisis to £21m in 2017. Managing director Robert Ginsberg says “we achieved growth because of strong relationships with our customers”. Importantly, Ginsberg says the company worked with its long-standing relationship lender Lloyds Bank to roll-out a growth- focused invoice factoring programme, by raising working capital against its receivables. HiB’s regular sales and purchasing patterns supported this finance option. This financing took the company’s growth to another level, thanks to the good understanding with their relationship bankers. In fact, in 28 years of operation, HiB has only had a couple of relationship managers at Lloyds. In general, people and relationships have helped us grow and scale up, Ginsberg explains. “Our area sales managers have long- term relationships with our customers and that has created trust in our company.” — ROBERT GINSBERG, HiB In July 2017, HIB appointed operations and logistics directors at the company’s main base – an 85,000 square-feet distribution centre in Tamworth in the Midlands – both directors had started 20 years ago as warehouse staff. Crucially, the company values its staff and their wellbeing. “If you look after your employees, they’ll look after you,” Ginsberg says. Driving success with long-term banking relationships HiB 57 56 INSIGHTS FROM ENTREPRENEURS EQUITY DEBT 38% of all respondents have raised equity AVERAGE £8,765,117 MALE 82% FEMALE 36% FINANCIAL CAPITAL THE ESTABLISHED Source: 100 Stories of Growth - Capital at Work