Don't cut back on marketing spend, urges boss

Charles Corner, managing director of Malton Laser, said businesses should seek to open up new markets to survive turbulent economic times.

Speaking to The Yorkshire Post, Mr Corner said the recession was “very” tough for his company.

He added: “I went into administration in that period. It absolutely nailed my company.

“I was running at £3m turnover, which I’m not even doing today, and the company went from £3m immediately, like a fall from a cliff, to £1.5m. I’d geared the company to go to £5m.”

Mr Corner says he started the turnaround of his company by investing in marketing and would advise other businesses in a similar predicament to do the same.

He said: “Start with the way you market your company. It’s the one thing that is put back in poorer economic times and yet it’s the one thing you need.

“You need to get access to new markets that are doing well. You’ll never, from a market that is doing poor, normally do well because they’re concentrating on lower costs.”

The impact of the recession led to Mr Corner adopting a new mantra of “low manpower, high productivity”.

He added: “We were at 44 people at that time, considerably more than what we are at today, but today we’re achieving similar figures with a lot higher profitability with lower manpower. Our productivity is through the roof.”

Automation can also play a role in helping businesses gear up for tougher times. Malton Laser has just invested in robotic welding.

The boss of Malton Laser says the big difference between economic uncertainty now to the recession of 2009 is that businesses have much more visibility and can plan for it.

Mr Corner believes this could be the “best time ever” to prepare for any future headwinds.

He said: “You’ve got technology reaching a very good maturity. You’ve got money available at very good rates. Banks keen to help.

“If you are able to invest, invest today because I don’t think that will be the same round the corner. As we go through the Brexit period we may end up with problems.”

Despite uncertainty that may hit certain sectors, Mr Corner says it is about “boxing clever” and seeing the “opportunities”.

“I was a victim before and it came out of the blue,” he said. “I don’t think this is coming out of the blue. You can actually see it coming. We’ve got time to react and that time is full of opportunity.”

The boss of Malton Laser, the laser cutting service, believes the North and Yorkshire might be shielded from any potential recession because of the strength of major Northern cities.

“This next one might see work come North because of the success of Leeds and Manchester,” he said.

Malton Laser doesn’t trade with Europe but supplies companies that do.

When asked whether the company was making back-up plans, Mr Corner said: “I’m making plans. I don’t call them back-up plans.

“Business is probably about adventure. I am a natural risk taker.”

Life on the fast track

Along with running his own business, Charles Corner has also spent 37 years in the world of motorsport racing motorbikes.

He draws parallels between his business and motorsport careers.

Mr Corner said: “There’s a famous racing analogy, if you stare at the tree you’ll hit it. If you stare at the gap you’ll hit the gap. Always go for the gap. It’s very true because most people are fixated by trouble. I’m fixated by opportunity.”

Turnover at Malton Laser today is £2.5m and the company employs 32 staff. Before the recession the firm had 44 staff.

Malton Laser is once again growing, says Mr Corner, but the challenge for the firm is not to “overgrow”.