Engineers See Growth After Recession

April 30, 2014 3:14 pm

Interflex Logo

A Mansfield based electrical engineering company is celebrating recent growth after bouncing back from a difficult period during the recession, with the support of chartered accountants Stopfords.

Interflex Electrical Engineering Ltd were able to overcome the difficulties of the recession, which at times meant they had no work coming into the firm, and come out of it in a strong position and seeking continued growth.

After being made redundant in 2006, Richard Smith established Interflex in 2007 as a specialist electrical engineering company, who build switchboards, switchgear and distribution equipment, initially working from his garage. The company, which has been supported by Stopfords since day one, began to see immediate growth and a strong demand for their service which allowed Richard to take on more staff and move to new premises.

However, as the effects of the recession started to hit, Interflex began to struggle and things became worse when they lost two of their major customers. During this time, Stopfords worked with the company to provide essential accountancy services which meant Richard was able to concentrate on business development and get the company back on track.  A member of the Stopfords team was also integrated into Interflex, working from their office once a week, to provide an essential bookkeeping service and ensure the company’s books and records were effectively organised to give valuable management information.

Interflex developed a new strategy to deal with the recession, placing a larger emphasis on providing a high quality service and also targeting new clients with their specialist skills to further establish their prominence in the niche market.  This new strategy saw Interflex go from strength to strength seeing sustained growth over a period of years. leaving the recession in a strong position, well-equipped to deal with the changing business climate. With this sustained growth the company plans to expand further by increasing their workforce and will soon be recruiting a new apprentice.

Director of Interflex Electrical Engineer Ltd, Richard Smith, said: “We are extremely proud to have come out of the recession in such a positive position and with plans to continue growing. It is an exciting time for us and we look forward to the future of the company, particularly after facing such a difficult period.”

Interflex is yet another example of local business success in Ashfield & Mansfield. If you have an idea for setting up a business and would like to hear more about how we can help you, please look at our business support page or contact us.

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