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From YouTube: Bounced Back: Upholding a Century-Old Business Legacy with REIDsteel’s CFO, Simon Morgan S1E6
Description
Many businesses would be delighted to leave a legacy on the same scale as REIDsteel, a Christchurch-based company with over 100 years of family-owned history.
Their Finance Director, Simon Morgan, joins us on the last of our podcast mini-series to share the experience that the steel manufacturer endured through the pandemic, and how they employed grant funding to continue their services in a global market.
Listen to the full episode via the links below:
Listen online: http://bit.ly/40uAjv1
Listen on Spotify: http://bit.ly/3YcuzEz
Listen on Apple: http://bit.ly/3HJ4d6i
Listen on Google Podcasts: http://bit.ly/3YnTHrE
#BCPCouncil #BCP #Bournemouth #Christchurch #Poole #Dorset #podcast #businesspodcast #podcastingforbusiness #dorsetbusiness #startup #brand #strategy #planning #localbusiness #SME #marketing #businessowner #entrepreneur #manufacturing #steel #steelmanufacturing #engineering
A
A
Today,
I'm
talking
to
Simon
from
read
steel,
read
steel,
being
a
huge
institution
based
right
in
the
heart
of
Christchurch,
have
been
going
for
over
a
hundred
years,
we'll
be
talking
about
the
sport
that
the
council
has
given
them
their
Journey
Through
the
pandemic
and
what
the
next
steps
are
for
this
amazing
local
industry,
thanks
for
joining
brilliant,
well,
Simon,
thanks
for
coming
and
joining
us
and
having
a
bit
of
a
conversation
today,
I
suppose.
The
first
step
is
tell
us
a
bit
about
yourself
and
about
read
steel.
B
A
B
And
been
in
Christchurch
since
the
late
50s
on
current
site,
so
we
are
a
structural
steel
engineer.
Yep
we
design
fabricate,
install
and
Export
a
huge
range
of
Steel
structures
produced
in
Nepal
aircraft,
hangers
outside
London
airport
terminals,
to
Africa
lots
of
mining
buildings
into
African
gold
mining
areas,
wow
hurricane
resistant
buildings
into
the
Caribbean
municipal
buildings
all
over.
It's
a
really
broad
range
of
projects
that
we
that
we
support.
A
B
A
A
B
If
you've,
if
you've
got
a
bit
of
space
and
a
welding
torch
and
the
right
qualifications,
you
can
just
crack
on
yeah,
where
we
sort
of
separate
ourselves
I.
Suppose
we
look
at
our
USPS
is
we
we're
able
to
offer
the
full
envelope
to
a
building
so
not
just
a
frame
but
also
cladding
and
glazing?
Okay,.
A
B
B
B
A
Mean
you
mentioned
obviously
the
pandemic
yeah
kind
of
in
passing.
Just
then,
but
that
has
I
mean
it's
impacted
lots
of
Industries
in
different
ways,
but
tell
me
a
little
bit
about
what
impact
it
had
on
read
steel
I
mean
your
company
has
been
going
over
100
years,
you've
been
up
and
down
and
through
the
walls,
quite
literally
yeah,
but
this
felt
this
was
different.
Wasn't
it
impacted
in
in
different
ways
what
what.
B
B
Put
steel
things
together
exactly
yeah,
so
we
we
kind
of
we
we
quickly
worked
out
how
we
could
continue
to
manufacture
safely
and
how
we
continue
to
install
buildings
safely,
because
we
had
to
carry
on
doing
those.
We
went
into
the
pandemic
with
a
big
big
order.
Book
and
customers
were
relying
on
us
to
deliver
things.
We
had
to
get
it
done.
Yeah
and
actually
the
our
financial
year
ends
March
and
our
year
ended
March
21,
which
is
pandemic
year
yeah.
It
was
a
record
for
us
get.
B
B
A
A
On,
let's
really
tighten
our
belts
here,
yeah
yeah,
exactly
that's!
That's
really
and
I.
Think
it's
a
story
that
people
aren't
don't
talk
about
the
impact
of
of
other
nations,
apart
from
the
usual
Western
Nation
suspects,
I,
suppose
yeah,
but
if
you're
actually
dealing
with
some,
you
know
others
that
is
surprising
that
they
were
hit
so
bad
as
well.
Yeah,
absolutely.
B
B
A
Remortico
yeah,
there's
always
always
New
Opportunities,
so
so
looking
back
to
that
time,
because
you
had
that
that
backlog,
I
suppose
you're
able
to
broadly
survive
through
that
really
difficult
period
yeah.
But
then
the
worry
I
spend
was
about
what
what
comes
next
yeah
I
mean
as
a
council.
We
had
a
lot
of
different
ways
that
we're
trying
to
support
businesses
through
things
like
bounce
back
challenge,
but
also
we
had
a
targeted
support
where
we
looked
at
particular
parts
of
our
economy
that
were
really
important
to
BCP,
that
we
knew
needed
some
extra
support.
B
B
A
B
B
A
And
I'm
guessing
looking,
you
know,
sat
here
today
with
hopefully
the
the
pandemic
behind
us,
albeit
with
new
challenges
ahead
and
inflation
environment
cost
of
living
that
it
worked.
You
know
you
you
got
through
that
and
you
you
got
that
new
order
book
coming
through
for
the
future,
so
it
helped
you
to
to
bridge
that
Gap
yeah.
B
B
B
A
B
A
B
A
A
B
B
Main
raw
material
and
it's
moving
more
or
less
unpredictably,
and
we
get
we
get
letters
from
the
main
suppliers
saying
you've
got
two
weeks
to
get
those
orders
in
all
the
prices
up
wow,
and
that
was
actually
that
was
also
damaging
our
ability
to
book
orders,
because
you
can
actually
it's
a
fairly
long
negotiation
to
get
all
the
all
the
dots
and
dots
over
the
eyes
and
the
crosses
over
the
t's
in
a
in
a
in
a
Construction
contract
and
you're.
Gonna.
Get
this
point
so
right.
B
B
B
A
B
Trying
to
fill
couple
of
the
fact
that
we've
all
decided
that
we
don't
really
like
using
Russian
gas
anymore,
so
we'll
pump
the
power
up
power
costs
up
yeah
we
were,
we
were
in
double
rounded.
There
was
a
point
in
time
where
we
were
getting
messages
from
our
customers
from
our
suppliers
that
they
were
going
to
start.
Rationing
quantities
really
wow.
A
So
so,
I
suppose
one
if
you
had
to
be
positive.
One
of
the
benefits
of
of
having
to
deal
with
that
environment
over
a
protracted
period
means
that
it's
become
a
bit
more
business
as
usual
yeah
for
the
business.
So
what's
your
what's
your
kind
of
Outlook
in
the
in
the
medium
term?
Are
you?
Are
you
still
really
worried
about
that?
That
situation
getting
worse,
or
is
it
now
kind
of
built
into
the
pattern
of
how
you
do
things
so.
B
B
A
B
What
we're
seeing
now,
though,
is
indirect
cost
inflation,
okay
and
the
indirect
cost
inflation
needs
a
little
bit
more
thought
because
yeah
we
live
in
the
price
competitive
World
everyone's,
not
wanting
to
pay
too
much
for
something.
So
you'll
be
quite
careful
about
what
you
do
with
your
overhead
rates.
Sorry
to
talk
about
technology.
B
Exactly
but
we'll
get
through
with
that,
and,
of
course,
the
the
business
energy
relief
scheme,
that's
going
on
at
the
moment
is
helping
to
defer
that
issue
yeah
a
bit
because
that
was
going
to
give
us
a
400,
odd
percent
increase
in
our
power
cost.
It's
just
nuts,
isn't
it.
It
really
is
which
adds
about
20
to
the
cost
of
my
factory
wow.
A
A
It
yeah
God,
so
it's
I
mean
it's
really
interesting,
so
whether
the
whether
the
pandemic
storm,
obviously
there's
always
a
new
storm
on
the
horizon,
but
by
the
sounds
of
it,
you
know,
got
a
lot
of
the
mechanisms
in
place
to
be
able
to
to
see
that
through
you
know,
which
is
you
know,
really
positive
as
a
local
industry.
That's
clearly
so
so
influential
and
powerful
and
and
valued
in
the
in
the
BCP
Community,
but
you've
got
big
plans
as
well,
and
you
know
what
what's
what's
the
future
looking
like
for.
B
Reasons
so
we'll
do
short-term
and
medium
term
shall
we
go
for
it
so
so
short
term.
The
the
UK
economy
is
not
not
looking
too
Rosy
for
next
year,
but
we've
got
our
export
markets.
Yes,
and
this
is
really
where
we
have
how
we
got
through
the
last
100
years,
so
by
choosing
your
marketplaces,
yeah,
Diversified
and
and
so
when
we
look
at
our
the
car
Revenue
funnel
our
sales
funnel
for
the
next
12
months,
or
so
that's
looking
pretty
robust,
but
it's
not
got
an
awful
lot
of
UK
business
in
it.
A
B
B
B
It's
not
the
best
insulated,
and
so
we
we're
looking
to
build
ourselves
a
new
Factory
yep
we've
got
planning
for
a
site
adjacent
to
ours.
To
do
that,
we
were
full
steam
ahead
until
we
hit
this
little
pandemic
bump
and
so
currently
we're
looking
at
how
we
how
we
can
make
that
happen,
yeah
and
and
in
the
meantime,
what
can
we
do
to
help
ourselves
without
that
big
investment.
A
A
B
B
A
B
A
Do
yeah
there's
a
lot
of
joints
together?
Doesn't
it
yeah?
Well,
look.
It's
been
been
great.
Talking
to
you,
and-
and
hopefully
you
know,
our
successes
are
sat
here
in
another
100
years
time.
Talking
about
the
the
successive
reads
deal
in
the
future,
but
thanks
for
watching
thanks
for
the
chat
and
good
luck
in
in
all
your
short
and
medium
term
plans.
Thank
you.
Thank
you.
A
So
thanks
for
joining
us
for
today's
episode,
if
you
want
to
hear
a
little
bit
more
about
some
of
the
other
Journeys
that
the
businesses
have
been
on
as
we
help
them
through
the
pandemic
check
out
some
of
the
other
episodes
in
this
mini
series
and
also
a
big
urge
to
all
businesses,
Charities
and
organizations
in
the
BCP
region.
Our
economic
development
team
at
the
council
are
here
to
support
you,
both
through
today
and
tomorrow,
including
some
of
the
other
grant
funding
that
may
be
available
in
the
future.