January 29 2015 Latest news:
By BEN WOODS, Business writer
Wednesday, January 30, 2013
A pioneering Norfolk firm is on course to deliver significant growth after securing contracts to support HGV drivers from European companies.
ETP Card Processing said the company’s SNAP Account system will help them generate £4m turnover this year – up more than £2m on last year.
The Hoveton-based firm, which created the SNAP electronic system to provide lorry drivers with truck washing and parking sites across the country while removing the need for paperwork, has secured contracts with European fleet companies in France, Germany, Poland and Eastern Europe.
The firm, which has been receiving advice from the government’s GrowthAccelerator Scheme to help it grow, is also looking at the possibility of expanding into the US.
It comes after the company, which employs four full-time staff and three part-time staff, experienced success last year when it helped boost revenue by unrolling a software system for Truckwash UK – a firm providing a single account for more than 20 truck wash sites.
Chris Billings, managing director of the firm, said: “We think the growth is likely to continue at about 10pc every month. We are dealing with quite a few companies in France, Germany, Poland and Eastern Europe and we are trying to push even more. However, dealing with foreign countries can be complex. There is the language and the complexity of the law as well.
“If you put yourselves in the shoes of a German company, they will want a contract in German based on German law, but we want it based on British law and that is complex and difficult. The American market would be easier because there would be no language barrier.”
He added: “We have invested a lot of money into the business to consolidate the UK market and pay the investors back.
“We are making a profit and perhaps in a years time we will cast our eyes to the US.
This year, we will have 5pc or 8pc of the market, but if we carry on growing then we will look to take even more.”
He added: “ Since joining the scheme last year, GrowthAccelerator has played a very important support role by understanding what needs to be achieved in my market and then playing “devil’s advocate” when I talk through different aspects of the business.
“I have also found that our discussions have led to ideas being created in my mind which could significantly help the business develop further or quicker.”
Around 2,000 Tesco workers discovered their jobs were at risk after the supermarket giant disclosed the locations of 43 store closures including two in Essex - a Homeplus store at Chelmsford and a smaller store in Heybridge.