AI completes first step of national business programme
The managing director of AI has completed the first stage of a business growth programme developed by one of the world’s largest investment banking and securities firms. The 10,000 Small Businesses programme, which is funded by the Goldman Sachs Foundation, aims to help small businesses with high growth potential to develop and expand.
AI (Automotive Insulations) design and manufacture noise reduction systems and thermal management solutions for a range of industries. As MD, Jim Griffin was one of only 30 company representatives from theMidlands who were successful in their application to the Goldman Sachs scheme.
The automotive industry is a rare economic success story. With a £50 billion annual turnover, it is now theUK’s largest export sector. One of the reasons that the sector is thriving in the difficult climate is the innovation and adaptability demonstrated by British companies in providing technical solutions for the industry. Automotive Insulations recently invested over £60k in new facilities to cope with rising customer demand. Having increased its annual turnover year on year since 2009, the company’s rapid growth made it an ideal candidate for the programme.
Designed to support established small businesses with a strong track record and with potential for significant growth, the core of the programme is four months of cohort-based learning and business development together with other high growth small businesses and is led byAstonBusinessSchoolinBirminghamin conjunction with other local partners. The programme provides a range of different kinds of high quality, practical support to help business leaders develop and execute their business growth plans.
“I have to say this whole process has made me think so much more clearly about the business. At a time when manufacturing is critical to the UK’s economic performance, it is good for British companies to work together and support each other’s development,” comments Jim Griffin. “One of the problems I had was too much in my head – too many ideas. I now set aside one day each month off site to review the plan and progress so far, and to decide if it is still right for us. The scheme has really helped me enjoy my business again!”
Automotive Insulations has produced acoustic absorbers using new technology fortheaward winning Range Rover Evoque, the company’s newest and greenest vehicle. Automotive Insulations also work with other leading vehicle brands such as Bentley and Jaguar and have specialised in the manufacture of acoustic and thermal insulation since being set up in1966.