Sports car firm is leading the way for rest of UK industry
The boss of a sports car manufacturer in Peterborough says its best practices can help the rest of industry to thrive.
The comments from Joe Anwyll, chief executive of Radical Sportscars, based in Ivatt Way, Westwood, come after the company was granted the accolade of featuring in the prestigious Parliamentary Review.
He said: “For Radical to be recognised as a manufacturer of note by the Parliamentary Review is an enormous privilege and reinforces our status as the UK’s largest producer and exporter of specialist race cars.
“As a member of the Parliamentary Review panel, I’m delighted that our best practices can be shared and influence policy to help ‘UK plc’ thrive, now and in the future.”
Mr Anwyll, who turned the business from a loss-making £150,000 a year to a turnover of over £20 million, said: “All businesses require key manufacturing, sales and marketing indicators built into their operational structure... that drive the business to profitability and success.
“These did not exist at Radical. Performance is now measured using a range of highly visual and easily interpreted key performance indicators that contain the vital management information needed to facilitate decisions.
“Employee involvement is vital.
“This key information is shared with the workforce to ensure they remain fully engaged in managing the process.”
Mr Anwyll also welcomed the UK’s move to leave the European Union and agree its own trade deals.
He said: “We are market leaders with a presence on five continents; exporting to Europe, China, Australia, Korea, the UAE, Kuwait, the USA, Chile, Argentina, Sweden and Switzerland.
“Ninety-three per cent of our production is exported to Radical’s 34 dealers globally, of which 51 per cent is supplied to the US alone, so the importance of uninterrupted trade can’t be underestimated for ourselves or the wider UK manufacturing industry.”
Mr Anwyll added: “Radical Sportscars is essentially a marketing-led company, selling a dream to people who have the money to undertake what some Formula One drivers have called ‘a unique motor-racing experience.’
“Outside the EU, some of the countries like China, certain Middle Eastern states and Korea have supremely wealthy individuals who can afford the luxury of Radical’s services.
“If the UK is able to negotiate lower tariffs or even free trade deals with those respective nations, companies like Radical Sportscars should be able to utilise the lessons they’ve learned operating in a more restrictive trading environment and take their global market share to the next level.”