Leicester Mercury | Time to tap into this county's diverse talent

When it comes to awarding contracts, businesses take all manner of things into consideration, including price, quality of the product, and customer relations. But what about ethnicity?

There is a target set by Government for 25 per cent of all public sector contracts to go out to small and medium-sized firms such as Texane, but there is currently no emphasis on ensuring these targets are inclusive to black and minority ethnic (BME) firms. I believe there should be.

BME businesses are successful drivers for our economy. The Government should be making sure they get a fair slice of the public sector pie.

While many start-ups fail, 70 per cent of BME businesses are still here after five years, and they grow 20 per cent faster than other small firms.

Read the full article on the Leicester Mercury online here.

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#LBE14

Earlier this month, Texane spent some time at the annual Leicestershire Business event at the Leicester Tigers ground.

This event has been a major trade show for eight years now, attracting over 800 visitors.

Texane joined 113 other exhibitors at the event, which is a fantastic networking opportunity. The stand was a hive of activity all day, and it was great to get to know some of the faces behind Leicestershire’s brightest businesses.

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Rallying for diversity in business

The managing director of a Leicestershire firm is heading to the House of Lords today to promote diversity in business.

Arnab Dutt, managing director of Texane, will speak at a summit imploring key figures from Government to be more inclusive of minority ethnic firms in procurement in both the public and private sector.

“70 per cent of ethnic minority businesses are still here after five years,” explains Arnab Dutt, “and they grow 20 per cent faster than other small firms. Tapping into that entrepreneurial energy and success mindset is not just paying lip service to Corporate Social Responsibility. It’s adding value to your business.”

The summit is organised by Minority Supplier Development UK (MSDUK) and will offer policy recommendations to make public sector procurement more diverse across the country.

Despite an aspirational target set by Government for 25% of all public sector contracts to go out to SMEs like Texane, there is currently no emphasis on ensuring these targets are inclusive.

Texane, which manufactures super tough polyurethane wheels found on many of the escalators and travelators across the world, was bought by Arnab Dutt and was brought back from the brink of administration.

Based in Market Harborough, Leicestershire, Texane now supplies its super tough wheels to iconic subways and metros around the world, including New York, Washington and London.

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#ibacksmallbusiness

Four Federation of Small Business members tell us why they want a new Government to back small business ahead of the 2015 UK General Election. You can join the debate #ibacksmallbusiness.

"I want to break into new markets.

"We need a long term strategy for SMEs in the UK, structured and permanent, that will help us reach our potential. For my business to grow, I need better support to help me export more effectively."

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Gearing up for growth

SMEs are ready to push on after years in survival mode. Insider's round table discussed the challenges facing them as they progress and poses the question 'What can help SMEs grow?'

Arnab Dutt, managing director of Texane, said his business used innovation in the last few years to protect margins. Growing turnover was not a priority for the polyurethane components manufacturer and it instead targeted work with the highest growth margins.

"It meant a lot of investment in new technology and development which is difficult because sometimes it works and sometimes it doesn't," said Dutt.

Read the full article by buying a copy of Midlands Business Insider here.

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How big business bullies its suppliers into lending

Late payment is a major problem for freelancers and small firms and it seems to be getting worse. Big businesses are effectively banking with their suppliers’ money - so will government step in?

Arnab Dutt, owner of manufacturing company Texane, is scathing of government measures to date. "So far, nothing the government has done in terms of legislation has seriously impacted this disgraceful scenario."

Read the full article on Contributoria here.

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Manufacturing Innovation Roundtable

It's easy to say we need creative cultures in businesses - producing them is a far harder task. Midlands Business Insider East Midlands brought together experts and entrepreneurs to find out how to incite innovation.

Arnab Dutt, Texane - "The past few years for us have been about developing new products for new markets and, rather than just being industry-facing, looking at consumer sectors, anywhere where we can develop our core competency.

"That's meant investing in new machines, developing new polyurethanes where we seee high margins and values. To do this we've had to innovate and look for where demand is, and be imaginative. We do not want to do the same as everyone else because you just end up fighting a lot of people on price alone."

Buy the September issue to read the full article.

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Zero hours contracts: 'Bad for morale – bad for business'

Business owner Arnab Dutt says zero hours contracts are harming the economy and should be scrapped.

It has been claimed that zero hours contracts make the UK more competitive by providing labour market flexibility.

The evidence challenges this. In reality, the widespread abuse of these contracts has harmed the economy and the fabric of our society.

Read the full article on the Leicester Mercury here

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Business is booming in the East Midlands

Business is booming in the East Midlands, and Texane can feel it. 

We’ve felt the impact of the East Midlands’ confluence of great business clusters that are receiving capital investment. New transport infrastructure investment means the Bombardier and Rolls Royce are receiving large orders that are spreading through the local supply chain, a domino effect of positive business growth.

We have new companies and product development with SMEs working alongside our excellent universities, including Cambridge. We also have a technology cluster for Formula 1 and motorsport which is a crucible of innovation and engineering excellence.

Finally, it’s thanks to the close proximity to London, and the transport networks that make the East Midlands easily accessible to all parts of the UK, and of course Europe. Texane is exporting more than ever as products manufactured by British firms are the preferred by customers across the globe.

Read the full article on East Midlands Business Link here.

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Leicester gets The Giving Project off to a great start

“We know children and families on our doorstep in Leicestershire need support, and the money raised by The Giving Project will go to local projects that really can help. I wholeheartedly support this campaign so I’m urging other businesses to get involved and give where we live.”

Businesses, community groups and councillors have pledged their support to The Giving Project, launched by Voluntary Action LeicesterShire (VAL), which delivers vital support to community projects to lift local children out of poverty.

Texane speaks to The Daily Telegraph

"For us, quality is not just a word, it's a state of mind," says Arnab Dutt, owner and managing director of Texane.

As a manufacturer of specialist polyurethane components, quality is the linkchpin on which the business's success depends.

"A good-quality product underpins your brand and your reputation, and reassures your customer that he is getting the best."

To read the full article, see today's Daily Telegraph business pages or click to enlarge image.

Be Inspired by UK Export Success

Every firm should have an export strategy. It ought to be as mandatory as an HR or fire safety policy. Shareholders should berate executives who steer clear of exporting. They should harangue them and, if they don't change their ways, fire them. No excuses are valid.

“You have to be big to export” is instantly disprovable. As some wonderful British firms are proving, it is feasible for small, but ambitious, firms to go global.

Texane makes wheels that drive many of the world's subway and airport escalators and travelators. After a few years of selling direct to the US and France, managing director Arnab Dutt switched strategy and went in search of local distributors.

“If you’re a UK-based industrial products company, it is certainly possible to export from the UK without overseas representation or branches, but I would suggest it’s a lot easier if you have an agent or a distributor because they know the local market and have the contacts,” says Mr Dutt.

“Overseas offices and staff are a major investment. I don’t believe it makes sense to set up an office in another country until you have reached the point where the economies of scale kick in, when a market accounts for a third of your sales and there is growth of 25 per cent a year, for example.”

To read the full article on the Raconteur, a supplement in The Times, click here.