A young entrepreneur has proved he knows the nuts and bolts of his Warwickshire business, by driving it to a £1.1 million turnover in just two-and-a-half years.
Scott Simpson set up Auto Fasteners when he rented a desk at an office in Stratford-upon-Avon in June 2009.
The business, which specialises in supplying engineered fasteners to original equipment manufacturer car companies, has purchased a 4,750 sq ft premises in Holywell Business Park in Southam with funding from Yorkshire Bank’s Financial Solutions Centre (FSC) in Coventry.
Mr Simpson, aged 25, travelled to motor company giants across Europe and North America to establish realtionships and build his supplier accounts. Auto Fasteners is now a Tier One supplier for Volvo, Ford, General Motors, Volkswagen, Bentley Motors, Aston Martin, PSA Peugeot Citroen, Renault Trucks and Jaguar. He said: “It is amazing how quickly the business has grown. I started off renting a desk in a corner of a room in Harbury, and then I moved across the road into a bigger unit because I needed more storage and space to grow. The company outgrew that place very quickly, and we re-located to Holywell Business Park. It was an empty shell, and we were able to create a reception area, boardroom, administration offices and a warehouse with racking.”