Sound business plan pays off for entrepreneur Paul

A MAN who bought a Dundee sound company when he was aged 22 has grown it to be a major player in the industry, supplying equipment to stars such as Bob Dylan and Liam Gallagher.

Paul Smith took over Apex Acoustics after former owner, Radio Tay presenter Graeme Adamson, decided to sell.

He has grown its turnover of £68,000 to £600,000, taking it from a one-man band to a company with five staff based at Taygate Trading Estate.

He said: “My predecessor was going to study medicine, so basically he was either going to sell it to me or to someone else.

“At that time, it was as simple as lose your job or buy the company.

“It was a massive step to take and it was difficult in the first year or so, but I’ve never looked back.”

The firm recently secured two major contracts worth £350,000.

Mr Smith said the company’s growth came naturally as equipment being out on tours for months at a time meant more stock was required.

“We’re all a bit geeky in the industry and tend to want to buy the latest gear,” he said.

“It’s a case of having the right equipment and you end up getting the phone call.

“In recent years, we’ve spent £100,000 on a mixing desk and £150,000 on a speaker system.”

He added: “An important market for us has been the massive theatre tours, which require a lot of equipment that might be needed for sixseven months.”

David Baxter of the EIS has said he is “extremely concerned” at the situation.