Enterprise Pondering Midlands winner: Advance Tapes
Advance Tapes has been chosen as a Midlands regional winner in the HSBC Business Considering initiative. 
Following its nomination as a Midlands regional finalist and Imagined Exchange to Sao Paulo, Advance Tapes has been declared a regional winner in the HSBC Business Pondering initiative.
Advance Tapes, a manufacturer of speciality self-adhesive tapes which employs 170 men and women in Leicester, has been trading given that 1964, turns above £23m and expects to export 80pc of its manufacturing this 12 months.
Nevertheless, the business has seldom entered organization award competitions and chief executive Mike Ayres stated he was delighted to be chosen as a Midlands regional winner of Organization Considering.
“It feels completely brilliant,” he explained. “We haven’t entered numerous competitions so I really do not know if we have been hiding our light below a bushel but to enter this and to win is a very nice feeling.”
Advance Tapes helps make speciality tapes for the nuclear power, developing, electrical, and heating and ventilating industries.
Mr Ayres, the chief executive of the organization because 2000, went on the São Paulo Considered Exchange with HSBC and says the expertise created him realise that Uk organizations ought to be bolder about their growth prospective customers and set their sights increased.
He intends to use the prize of lending of up to £6m and a financial reward of up to £120,000 to help fund a push into India.
“We started as a Uk business and the earlier generation in our business took it into Europe which was then a massive phase,” he said.
“We’re not in America. We’re principally a Uk and European organization and we export 80pc of our turnover.
“The subsequent phase for us to proceed business growth is that we’ve received to get into some of these emerging markets and we have chosen India.
“There’s no produced market for our specific solution however in that country they are mostly relying on imports.
“It’s going to be one particular of the biggest economies in the globe and all of the crucial industries for us are presentin India and are growing. It was quite an straightforward determination to make. It was just a question of finding a companion.”
Advance Tapes has signed a preliminary agreement with a tape producer in India to carry out a feasibility research into forming a joint venture to manufacture tape.
“What occurs with our items is that tape commences to exchange other things,” mentioned Mr Ayres. “At the minute, this is nonetheless developing in India, which is switching to tape from other approaches of fixing issues.”
“There is fairly a good possibility for us there in a growing industry.”