WHILE the outlook for the economy is uncertain, we hear from an entrepreneur who has found enough businesses are investing in the future to mean the training market offers good growth prospects.

Name:

Stephen Docherty.

Age:

44.

What is your business called?

Elite Training and Consultancy (Scotland) Ltd.

Where is it based?

Glasgow.

What services does it offer?

We deliver training in areas such as IT, technical, soft skills and project management for public and private sector organisations across the UK. In recent years we have moved into consultancy. For instance, if a client is rolling out a new IT system, we help develop materials, training and a project plan and provide admin support.

To whom does it sell?

Businesses of all sizes, from one-person laptop outfits to the NHS, local authorities and government.

What is its turnover?

£2.2m in the year to March 2018. That was 20 per cent up on the preceding year. I am predicting a similar increase next year conditional on the right talent acquisition.

How many employees?

Across full time, part time and associate staff there are around thirty.

When was it formed?

In 2006.

What were you doing before you took the plunge?

I worked with JP Morgan Chase investment bank in Scotland in IT development. When I left university I took a programming post in York to gain experience and for a long time I specialised in IT. It was interesting, but it was not really what I primarily enjoyed. Working for a big organisation, it is hard to know if your efforts are actually producing anything. In a small business, your impact is tangible.

Why did you take the plunge?

The simple answer is boredom but more importantly, I think it’s natural that people want to be recognised for what they do and what they achieve. Ever since I was young I have wanted to run my own business. I saw an opportunity in the market and it became clear to me that if I didn’t do it then I would never do it. At the point in my life when I decided to set out on my own I had no overheads or commitments. I had my own property but I only had to account for myself.

How did you raise the start-up funding?

I was single and I lived in a flat. I re-mortgaged the property and basically lived like a monk for the first year. My key aim for this company is to make it secure with safe and steady growth. Everything we have made since inception has been re-invested, particularly in commercial premises.

The first office was on an industrial estate. Then I rented an office in the city centre, which I subsequently bought, and it now provides a valuable revenue stream. I have done the same with our current office, a beautiful Victorian town house. The upper floors are let and provide valuable income. This allows us to keep prices low and take on valuable staff. We have no debt and no financial stresses.

What was your biggest break?

There have been several great contracts over the years, but as a result of sustainable growth rather than a real game-changer. Having said that, the Co-op Pharmacy cold-called us in 2012 asking us to tender for a training project which required 25 trainers to instruct 800 branch managers across the UK and Northern Ireland. We had to do everything – book hotels, print materials and manage the whole project. It was all hands on deck.

What do you most enjoy about running the business?

I enjoy the stress. I like being busy and seeing the business become more efficient and getting results. I think we have created a good working environment and that will be another challenge as we grow. We want to bring in like-minded people. I like controlling my own future, but we have 400 clients – which means 400 bosses.

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

Not tax us. Seriously, we work very closely with the Scottish Government and we know that they try hard to help small businesses grow. I really can’t fault them in that regard. But perhaps they could give smaller companies small, almost trial, contracts to see how they perform.

What was the most valuable lesson that you learned?

To look after people and treat them fairly and decently. That goes for staff as well as clients. You should give more than you’re asked for and if you say you’re going to do something – do it. Don’t delay.

How do you relax?

I don’t – it’s something I need to address. I exercise five or six times a week, but I don’t just sit back and relax. I read about business gurus who say they get up at five am and meditate. I just get up and come into work.