Aberdeen oil and gas engineering entrepreneur has business in his blood

Graeme Reid.

Age:

42.

What is your business called?

Maritime Assurance & Consulting (MAC).

Where is it based?

Aberdeen.

What does it produce, what services does it offer?

A range of support services to the marine, construction, drilling and floating production industries around the world. We have an experienced team of master mariners, marine, electrical and structural engineers and naval architects to service the entire life-cycle of a marine asset. Our services are grouped into five areas including: Dynamic Positioning, Engineering, Marine, Warranty and MAC Resourcing which is our specialist recruitment business partner.

To date we have completed over 700 projects in the Far East, Middle East, North and South America and all over Europe for over 80 different customers.

Who does it sell to?

Our customer base includes major and independent oil companies, subsea construction companies, vessel owners and renewables firms.

What is its turnover?

£3.8million in 2014.

How many employees?

28 and we plan to grow further this year.

When was it formed?

January 2011.

Why did you take the plunge?

I had some exposure to running a business when I was growing up as my mother and father ran a chain of green-grocers in Aberdeen. I spent many evenings and weekends working behind the scenes in the shops filling bags of tatties and lugging around Christmas trees. I certainly attribute my work ethic to my experiences as a boy.

I had been thinking about setting up a business for a long time and had been developing a plan for one for a number of years. It's an enormous risk to take the plunge and at the time I was at the top of my career in a very large organisation. No doubt I would have had continuing successes in that organisation if I had stayed. But I felt that I wanted to go back to the type of environment I'd experienced before in a smaller company. I enjoy being in a dynamic and nimble organisation where you feel you make a difference to the company and it feels more personal. My job at the time had developed into more of a backroom role in which I was dealing with mainly internal issues rather than being client facing. Throughout my career I identified ways things could be done better in organisations and I had a vision for my own company I wanted to see become a reality. I knew there was a gap in the market to provide quality customer service with a highly competent, experienced and entrepreneurial team.

What were you doing before you took the plunge?

I began my career in 1991 with an electrical engineering apprenticeship at Stoneywood Paper Mill, where I won an award for Apprentice of the Year at the training academy. I then travelled the world with ABB Automation, gaining experience and knowledge of electrical engineering on fixed and floating vessels. I then specialised in dynamic positioning for Poseidon Maritime Limited and I quickly moved up the ranks in the company. As operations director I worked on the merger of the company with Noble Denton and then became regional managing director for the European business which consisted of over 250 staff across six locations. I was still working for the business as European upstream business director when I co-founded MAC with my wife, Lynne.

How did you raise the start-up funding?

I initially looked into taking a loan from the banks but that didn't come to fruition. I needed to pare back my original business plan slightly, but in the end I invested my life savings.

What was your biggest break?

In the early days of the business, two clients in particular gave us the chance to prove ourselves. The initial cash flow they provided gave us the boost to get going and invest back into the business. Our relationship with these clients continues to be very strong.

What do you most enjoy about running the business?

My wife Lynne co-founded the company with me and is HR director at MAC. We believe we have built a company with an outstanding culture. Our people processes are excellent and we put a lot of effort in to make sure the working environment is good for our employees. All of our team are highly skilled and work to be the best they can be in their field. It's a highly charged and fun atmosphere to work in.

We have recently been awarded a gold in the NHS Healthy Working Lives Award Programme. To achieve this we have been following a schedule of events to encourage good health and well-being amongst our staff. This ranges from smoothie making sessions to lunch and learns on dealing with health problems to rigorous sporting challenges.

In our business you need to be able to adapt and evolve as required by our clients very quickly, and I enjoy this fast-paced environment.

What do you least enjoy?

We are competing in a traditional and established market with very well known brands. As a smaller company it can feel difficult to get your voice heard.

What are your ambitions for the firm?

MAC is still a young company and I can see we have significant growth potential locally, nationally and internationally.

What are your five top priorities?

To continue to attract experienced, enthusiastic, and entrepreneurial individuals to our business; to expand MAC's service offering; to entice new customers with our passion and quality service offering; to realise our ambitious growth strategy in a sustainable way; to continue to work hard to create a great working environment for our personnel.

What could the Westminster and/or Scottish governments do that would help?

I think an increase in tax breaks would be invaluable for young companies, particularly in the early years. A reduction in bureaucracy and red tape in applying for business grants and gaining access to funding would also be helpful. The cost of time to a business to go through the process can often outweigh the benefits.

What was the most valuable lesson that you learned?

The importance of cash flow. I keep a close eye on the flow of cash in and out of the businesses at all times to forecast, plan and minimise surprises.

How do you relax?

I enjoy spending time with my family. We have an energetic dog named Vader which I love to take for walks. I also like watching action, sci-fi and comedy films.