He explains: “We’ve experienced a bit of turmoil with paper prices because we recycle our shredded papers and get a revenue stream from that. A lot of the prices are quote volatile and they’ve dropped through the floor recently.”
However, Watson remains upbeat: “This revenue stream is icing on the cake, though. Our main business is destroying and declassifying sensitive information.”
Shred Easy operates a fleet of 30 mainly purpose-built vehicles throughout the UK. They’re worth £150,000 each and are mobile shredding trucks.
The company’s primary business isn’t doing too badly in these economic conditions – Shred Easy recorded turnover of £5m last year and is on track to hit the £7.5m mark this year.
“The credit crunch is having some impact on many of our customers unfortunately, which is naturally having a bit of an impact on us but probably not as much as other sectors,” Watson notes. “We’re not recession proof but we’re not doing too badly just at the moment.”