Business

Published: 23.09.08

Over 100 Hastings-based companies have taken part in the business scheme, ProfitNet, to help beat the economic slowdown. A four-year business support programme run by the University of Brighton, ProfitNet helps businesses to try and buck the economic downturn through innovation and the application of knowledge management tools. The Hastings businesses will be celebrating their continued success at an event on 25 September in Hastings.

ProfitNet, the University of Brighton's business development and learning scheme, has been hailed as a resounding success by organisers and small and medium companies, with 89 per cent of members saying it has made a profound difference to their business.

ProfitNet has been so successful that the formula which started in Hastings in 2004 is generating interest across the UK and is starting to be franchised internationally, with networks recently started in Ireland and South Africa with several EU countries expected to follow later this year. ProfitNet has received substantial funding from the Higher Education Funding Council for England (HEFCE) and in Hastings from the Local Enterprise Growth Initiative (LEGI).

Member companies include start-ups, social enterprises and sole traders as well as established manufacturing, construction and creative businesses. The benefits seen by members include improved turnover and profitability, new staff, premises and equipment, re-branding and new markets and strategies, improved peer support and social networks between business owners.

Locally-based companies Promoseeds and Plastipack Ltd, have both benefited from the ProfitNet formula. Tony Barber of Promoseeds says the opportunities offered by ProfitNet have enabled him to radically improve his business:

"Following issues raised within our group and through a strategic planning/marketing course provided by ProfitNet, I've learned how to carry out a strategic marketing analysis on my business which was both enlightening and horrifying. The tools I was given, however, have allowed me to change the business for the better and in the last six months, while our turnover has fallen by 10 percent, our profitability has risen by 24 per cent. If I hadn't been a member of ProfitNet, I would never have learned what I know today."

Peter Adlington, Managing Director of Plastipack Ltd, says ProfitNet has directly enabled him to grow his business: "As a direct result of ProfitNet, we successfully applied for a KTP (Knowledge Transfer Partnership) from the University of Brighton and graduate Julienne Attwood worked with us on a project for two years that helped define a series of technical tests for our swimming pool material that have helped us gain more business, particularly in Australia where our product is used to stop the evaporation of water from swimming pools."

"As a result the company has grown, we have employed a further four people, upgraded our computer software and installed a third extrusion line that was commissioned in early 2008 to satisfy customer demand and our planned expansion."

Anjuu Trevedi, ProfitNet Director for the University of Brighton, says: "This is the first time a university has cracked the problem of engaging with so many local small businesses on an on-going basis and delivering benefits through knowledge transfer. Academics don't always talk the language that businesses understand and businesses don't fit easily into theoretical models and structures. But with ProfitNet we have been helping businesses to help themselves as well as engage with the University of Brighton. I am personally very pleased to be heading up the ProfitNet programme as it has enabled me to meet and work with so many interesting business owners who are open to innovation and growth."

"Sitting in on ProfitNet group meetings it has been remarkable to see business people willing to help their peers, colleagues and even competitors, knowing that they can call on that same help in return."

On the 25 September ProfitNet will also be celebrating its fourth birthday. Launched in 2004, the project was originally funded as a pilot in Hastings and Bexhill (an objective two region). Since the successful delivery in Hastings the project has been rolled out across the rest of East Sussex, Brighton & Hove and West Sussex with over 400 businesses benefitting from the scheme.

For more information about ProfitNet please contact:
Ms Anjuu Trevedi
ProfitNet Director
07958 515491
a.trevedi@brighton.ac.uk
www.brighton.ac.uk/profitnet