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Why Chris Rea loves recessions

Despite an overall decline in the manufacturing sector (recent figures from the Office for National Statistics show that UK manufacturing output fell for the 12th consecutive month in February), AESSEAL pulled in an impressive £80m in sales this year – and turnover is growing.

When budgets are tighter, AESSEAL can start to pitch. “In a downturn, customers re-examine their own business proposition," explains Rea. "Individuals wake up one day and realise that they had better be seen to do their job. The consequences of not doing something and sticking with the status quo suddenly becomes riskier than trying something new. The agenda of the market changes, which is a huge help to us.”

When customers consider experimenting with a new supplier, Rea ensures he can deliver a pitch with overwhelming incentives for them to switch to AESSEAL.

AESSEAL has been planning for this downturn for ten years, which, Rea says, is the length of time entrepreneurs need to be planning: “Long term strategy is vital. We started out selling to the coal and steel industry in South Yorkshire in 1981, which was declining from day one. We knew we had to diversify geographically and out of our industry base to survive.”

Read our full interview with Rea in the May issue of Real Business magazine or come and hear him speak at the Entrepreneurs’ Summit, where he’ll be joined by Stelios and new Dragon Julie Meyer. Book your place here.

Related articles:Julie Meyer and Shaf Rasul unveiled as new online Dragons


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