Being privately owned has been a major benefit when it comes to sustaining investment and persevering with new innovations, says Naylor Industries chief executive Edward Naylor.
“We are lucky. Because we are privately owned and haven’t got a share price, we can take a longer view,” says Mr Naylor.
“We don’t give up easily. We know we are going to make mistakes on the way, but we keep going and keep going.”
He also praises former investors South Yorkshire Investment Fund and new Bankers HSBC for the support they have given the business.
“SYIF came on board when we were buying a lot of equipment for the plastics business and HSBC is very attuned to businesses that are operating internationally, not least in South East Asia, which is their back yard,” says Mr Naylor.
Looking to the future, Naylor shows no signs of slowing down.
“We have done pretty well in the last 13 years. We have invested heavily and bought state-of-the-art kit,” says Mr Naylor “There are 280 of us now. It gives us enough scale to do anything, anywhere, but we don’t have a groaning bureaucracy, where it is difficult to take a decision. Having the ability to move fairly quickly is a great attribute.
“I want to take the business into new markets, introduce new processes and launch new products,” says the boss of the company which already exports to 35 countries and is currently talking to leading businesses in Ghana, Zimbabwe, South East Asia and Australasia.”
That said, Edward Naylor has his feet firmly on the ground and is keen to ensure the company doesn’t overstretch itself.
“I think we will keep acquiring and buying bits of kit, but we have to be mindful that you can do too much,” he says.
“In my City days, I saw businesses that tried to do too much and I can remember one company that was growing so fast that it was out of control.”