FIRMS WITH BIG IDEAS FOR 2018
AS the new year begins, we have a look at the future and pick out 18 businesses we expect to be hearing more of in 2018.
The 18 businesses listed below – in no particular order – cover a range of sectors, from hospitality to legal, insurance to aerospace. But what they all have in common is that they have big plans for the coming year.
1. MONEYPENNY
After years of expansion, you might think the company could be due a quiet year of consolidation.
But that does not appear to be in the DNA of the Wrexham business and 2018 promises to be another exciting 12 months.
The company moved into its showcase headquarters in 2016 and in the coming year it plans to expand into the third storey.
This will see another increase in staffing levels, already more than 400, with a hoped-for growth in the Live Chat market.
There is a planned expansion of the US operation that is predicted to outgrow operations in the UK at some stage.
The company already handles in excess of 10 million calls on behalf of more than 10,000 companies across the UK each year, but expect those figures and job numbers to grow as brother and sister founders Ed Reeves and Rachel Clacher continue to guide the company on a successful path.
2. BOND DIGITAL HEALTH LTD
Within a year, Bond Digital Health has grown from a small life sciences start-up to an award-winning business with three quarters of a million pounds of commercial contracts under its belt.
Businessman Ian Bond, who suffers from chronic lung disease, had developed his own system to help fellow sufferers monitor their condition.
With business partner Dave Taylor, he set up Bond Digital Health Ltd at the Life Sciences Hub Wales in Cardiff, and worked with local universities to develop the system further.
The company then developed a range of digital products targeted at individual patients, medical practitioners, the pharmaceutical community and clinical developers.
The business achieved £700,000 of commercial contracts in its first nine months, including orders for its digital toolkit for clinical devices, developed for its ibemapp product.
It is now preparing for an investment round of £1m to accelerate the business further and plans to employ up to 12 members of staff.
3. MOTONOVO FINANCE
With profits of £69m over the last financial year, MotoNovo has an exciting and busy year ahead in 2018.
Already the second-largest independent car finance company in the UK, the multi-award-winning business aims to secure further growth with the launch of the automotive classified website findandfundmycar.com in January.
With a highly distinctive launch campaign that will see the brand featuring on TV, radio, online and on outdoor advertising across the UK, MotoNovo expects findandfundmycar.com to become a household brand known for putting the feelgood factor into car buying and selling.
MotoNovo also has well-advanced plans to establish the business in the SME fleet market through its new commercial finance operation, launch an all-new insurance business and expand its innovative consumer lending activities.
To support growth within MotoNovo Finance, the One Central Square company is recruiting for 200 new jobs through 2018, with roles available in customer care, sales, collections, marketing and credit analytics, as well as department heads and senior leadership positions via their newly launched site www. motonovocareers.com.
Other new projects for the finance company include expansion into the consumer market to include insurance and personal loans, as well as a newly formed commercial arm.
4. VEEZU
It’s been a significant year for the private hire and taxi group Veezu.
The Newport-headquartered business announced that its former chairman, Joel Hope-Bell, would take the position of chief executive officer, bringing with him almost 20 years of senior management experience gained at City finance firms including Bank of America Merrill Lynch, UBS and Morgan Stanley.
This was closely followed by the acquisition of south-west-based V Cars, which saw Veezu establish its fourth taxi hub in the UK. It also owns and operates Dragon Taxis in south Wales, A2B in Birmingham and Solihill and Amber Cars in Leeds.
Through its acquisition of V Cars, Veezu increased the number of drivers it provides dispatch services to by 40%, up to approximately 3,500.
It was also named the fastestgrowing business in consumer services in the Fast Growth 50 and made its debut on The Sunday Times Fast Track 100 in fourth place.
Looking ahead to 2018, Veezu will continue to be at the forefront of consolidation of the private hire and taxi market in the UK.
5. WEALTHIFY
Wealthify is an online investment service for everyone – what the company calls the first truly massmarket wealth management service.
Wealthify’s ambition is to turn one million savers into investors in the next decade. The company received a big boost in October when it announced a strategic partnership with leading life and pensions provider Aviva, the UK’s largest provider of general insurance.
The deal, subject to regulatory approval expected in early 2018, will give Wealthify access to Aviva’s 15 million UK customers via the MyAviva digital hub and app, along-
side other financial products and services. The investment is significant and establishes Weathify as one of the UK’s leading disruptors in digital wealth management.
Wealthify anticipates its rapid growth to continue well into next year.
From an original team of three founders in 2014, the team has already grown to around 17 and is expected to hit 40 before the end of 2018, as they look to grow their IT development, marketing, business development, customer service and other capabilities.
6. PRO STEEL ENGINEERING
Pro Steel Engineering, the steel specialist firm offering professional construction, fabrication and project management services, has purchased a factory in Pontypool and plans to recruit 50 new members of staff including skilled-labour welders and fabricators.
The 25,000 sq ft factory is close to the A4042 and M4 and will allow the firm to grow according to its ambitious order book.
The new factory will offer a 24/7 working capability and have an output of up to 10,000 tonnes per year.
After securing a number of highprofile projects, Pro Steel has seen offsite turnover increase by 500% and is looking to grow even further and add new projects to its order book in 2018.
Heading up the new factory is newly appointed manager Allen Follis, who has extensive experience within welding inspection and factory management.
7. CRAFTY DEVIL
The Cardiff-based brewer is planning to open its first city-centre pub, Beelzebub, on High Street in the capital, by the beginning of March this year.
Childhood friends Rhys Watkins and Adam Edinborough began brewing beer in a back garden in 2014. In the intervening three years, the operation has grown from a 100litre brewing kit in a shed to a large brewery on Ninian Park Road in Cardiff.
It also has a popular bottle shop and bar on Llandaff Road in the Canton area of the city.
Crafty Devil is using a crowdfunding campaign to help fund the new development, offering customers the chance to buy a £50 beer tab which can be claimed back once the bar opens.
8. NET WORLD SPORTS
Headcount at the Wrexham-based global online sports equipment retailer – which is the only UK business to appear in all three of the most recent Sunday Times Fast Track 100 league tables ranking sales, profitability and exports – will hit 100 in the new year as it embarks on a major recruitment campaign.
With exports making up more than 60% of sales, the company will continue to evolve in a bid to capitalise on its primary international markets, the United States, Australia, Canada and continental Europe. Its operations will become 24/7 during the coming months, with its warehouse, sales and customer care teams available round the clock to cater for customers worldwide. Net World Sports is already the UK’s biggest-selling goal manufacturer, supplying more than 100,000 of its FORZA goals to parents, schools and clubs of all levels throughout the world, right the way through to Premier League and Major League Soccer teams. But this coming year will see the sports supplier launch new own-brand equipment in sports as diverse as tennis and field sports (hockey and lacrosse), as well as a dedicated range of personal fitness equipment.
9. QUANTUM ADVISORY
Quantum Advisory (Quantum) was set up in early 2000 and is an independent financial services consultancy that provides solution-based pension and employee benefit services to employers, scheme trustees and members of corporate pension arrangements.
Quantum is unique as it is the only financial services company in Wales that provides the full range of pensions and related services under one roof. Consequently, they have a big share of the Welsh market.
They have recently recruited their 100th member of staff and relocated to new premises in St Mellons last year to accommodate the growing team with plenty of room for future expansion.
The head office is located in Cardiff, where the majority of staff are employed, but it also has regional offices in Amersham, Birmingham, Bristol and London.
Currently it only offers its services to corporates and not individuals – however, given the recent flexibilities afforded to UK pensions, there is now even more of a requirement for clear and concise pensions advice for individuals.
In 2018 Quantum is planning to expand its services from corporateonly to advising individuals with their retirement planning, from the moment they join a pension scheme to when they retire and well into retirement.
10. AERFIN
Caerphilly-based aircraft and spares services firm AerFin ranked in the top three Sunday Times Fast Track 100 and is the only business to top the Fast Growth 50 list two years in succession.
AerFin is a market-leading civil aviation parts distributor that supplies quality serviceable used aircraft parts to the global aviation market.
The business is headquartered in a 105,000 sq ft former General Electric Aero Engine Services facility in Caerphilly, where it provides engine leasing, engine disassembly, engine part sales and technical advisory services.
The company plans to increase its market presence in the Asia-Pacific region, the Middle East and Americas, and expand from its core focus on narrow-body and wide-body jets into regional jets.
11. THE SAFETY LETTERBOX COMPANY
The Safety Letterbox Company is a leading manufacturer of secure mailing systems.
The Neath-based company provides hi-tech, bespoke and secure letterboxes, and has worked on some of the world’s most prestigious developments including the famous Burj Khalifa in Dubai – the world’s tallest building.
Now the company has launched a new division. The new Parcel Boxes UK division offers a new hi-tech range of parcel box products designed to cater to the increasing popularity of online shopping.
With millions of parcels being managed by parcel delivery services every day across Europe, a demand exists for a more effective solution to send and receive parcels.
These “intelligent” parcel boxes enable any delivery service to deposit a parcel and those receiving their parcel to collect it from the parcel box unit 24/7.
12. ACORN
The recruitment and training company is a well-established business. Up to 6,500 agency workers are placed by Acorn into positions for both SME and multinational organisations each week.
And in 2018 there are ambitious plans for the Newport-headquartered business.
Acorn has just opened four new branches (including Manchester and Bournemouth) and there are plans for a branch in Dublin during the second quarter.
There will be a number of new divisions, with Acorn adding aerospace and defence, nuclear, energy and oil and gas to divisions such as legal, accounts and finance, construction, technology and engineering, and IT.
13. HUGH JAMES
The new year will see big changes at Hugh James.
The top 100 UK law firm will be moving its 700-plus employees from its present Cardiff office in Hodge House to 2 Central Square.
The new home is a high-specification building created by world-leading architectural firm Foster + Partners.
Hugh James is also planning a sig-
nificant expansion of its London office in early 2018.
14. DEZREZLEGAL
Next spring the Swansea-based conveyancing company Dezrezlegal will launch a new online portal that they say will save a week’s worth of time for those buying or selling a house.
Paperwork – whether from the land registry office or the lawyers – has long been a necessary evil in conveyancing, with customers regularly needing to print off, sign and then post huge documents. Soon, however, people will be able to do this through Dezrezlegal’s portal, saving themselves hours of time.
The technology-focused company wants to make the conveyancing process less alien and laborious to people. The portal, therefore, will have the same ease of use as Facebook, with a news feed and the ability to interact freely.
Customers will be able to check on the progress of their transaction and update the portal with new information online – much easier than constantly calling their lawyer.
And further down the line, when all security measures have been considered, there is the potential for the portal to be a complete one-stop shop for buyers and sellers as estate agents and surveyors all feed in to the portal.
15. IQE
IQE’s wafer technology is being used to power the new 3D sensors in the latest version of the Apple phone for features such as face recognition for unlocking handsets and facial expressions in emojis.
The sensors require so called vertical cavity surface-emitting laser (VSCEL) wafers, in which IQE has an 80% market share.
Cardiff-based IQE is at the heart of ambitious plans to create the world’s first cluster for compound semiconductors in south-east Wales, which over time is hoping to create 2,000 new hi-tech jobs. It is a leading global supplier for advanced wafer products and wafer services to the semiconductor industry.
Production of the new wave of VSCEL wafers will centre on the former LG Semicon foundry plant in Newport.
16. VIZOLUTION
Port Talbot-based Vizolution provides software as a service (SaaS) solutions that streamline difficult customer journeys across store, telephony and digital channels.
Its digital solutions enable agents and customers to show, share and sign documents, offering all the benefits of a face-to-face interaction without the high cost.
Vizolution’s products transform the customer journey by allowing the agent to both see and speak to the customer, as well as show, share and sign documents.
Following 465% revenue growth over a three-year period, Vizolution has been listed on the Deloitte 2017 Technology Fast 500 for EMEA. Entering the list for the first time, the company placed 259th.
Last month Vizolution established an office in downtown Toronto to support client engagement with North American banks, insurance companies and telecom operators.
17. PROTECT YOUR GADGET
Cwmbran-based Protect Your Gadget is the first gadget insurance comparison service. The service compares multiple brands and allow consumers to review policies based on the cover provided – including accidental damage, mechanical breakdown and whether or not family cover is provided. With 66% of adults owning a smartphone and almost two-thirds of UK adults having access to a tablet, there is a growing need for families and professionals to protect themselves against the potential loss of or damage to these digital devices. Protect Your Gadget was launched by Comparison Creator, which specialises in insurance comparison, last year. The company provides a white-label breakdown comparison service for GoCompare, Moneysupermarket, Confused. com and Comparethemarket. Over the next three years, depending on the success of the next few months, the business is intending to seek significant investment so that it can grow its direct-to-consumer proposition, which includes increasing the Protect Your Gadget team.
The standalone mobile phone and gadget insurance market grew from £212m in 2012 to over £1bn in 2016, and is continuing to grow at a rapid pace.
With that in mind, the company is anticipating writing £15m premiums of up to £30m by 2019.
18. PERPETUAL V2G SYSTEMS
Perpetual V2G Systems closed a sixfigure funding round last year, alongside the appointment of key staff to drive significant growth at the zerocarbon power solutions firm.
In the deal, existing shareholder Finance Wales converted its £500,000 loan to equity. In a combined capital raise from existing shareholders, almost £300,000 of further funding was raised.
At the same time, business growth specialist Mervyn Ham joined the Lampeter-based company as chief operating officer, as well as joining the investor group in backing the business.
Perpetual V2G provides mobile clean-energy power solutions to a range of applications and major corporations including well-known names such as Sainsbury’s and British Telecom.
The lithium power supply (LPS) is paired with bespoke power-delivery solutions to provide customers with the ability to significantly reduce vehicle idle times with massive savings in fuel and harmful CO2 emissions.
Across the utilities and other sectors, the LPS solution replaces noisy polluting generators with silent green energy.