An engineering firm from Falmouth is working on further growth prospects after it was named one of the best new businesses in the UK. Feritech found a place on the Startups 100 list, the annual list that compiles the best new contributors to the economy.
Feritech was begun in 2012 by husband and wife Gemma and Robert Ferris and supplies, designs, and manufactures a wide range of engineered services and products made for use offshore. The duo is thrilled to be included on the Startups 100 list and is already working hard on building a strong future for the business.
“Of course it’s very satisfying to take our place on such a prestigious list but we want to grow the business internationally and create good quality new jobs,” said Robert.
To help achieve their ambitious plan, Robert and Gemma turned to the Coaching for High Growth Programme, delivered by the UK’s leading specialist coaching company, Oxford Innovation.
Launched in 2009 and fully funded by the European Regional Development Fund (ERDF), the Coaching for High Growth Programme has already supported more than 400 Cornwall-based businesses, creating or safeguarding over 2,000 jobs.
From Oxford Innovation’s base in Truro, business coach Roger Grimshaw worked closely with Feritech to support the transition from an innovative start up to a firm with high growth potential.
“Prior to launching their business, Robert and Gemma both worked in the offshore sector so they already had outstanding technical ability,” explained Roger. “My role therefore has been to provide support across a broad range of topics, from marketing to teambuilding, in order to commercialise that expertise. I have been hugely impressed by the progress Feritech has made in such a short period and feel very confident the business will achieve its full growth potential in the future.”
Feritech currently employs six people in direct jobs and provides work to an additional 20 subcontractors. More than half of the firm’s business comes from outside of the UK and Robert is keen to extend Feritech’s international reach, adding: “With our expert team and state of the art marine base we can offer bespoke engineering solutions across the global subsea sector. Earning a place on a list of the UK’s leading start-ups is fantastic but our focus now is on establishing Feritech as a leading player on the world stage. Thanks to the Coaching for High Growth Programme, we feel we’re up to the challenge.”
Anyone wishing to find out more about the Coaching for High Growth Programme and how Oxford Innovation can potentially support their business should call 0808 1680405.