AS small and medium sized enterprises prepare for a challenging year a Glasgow businesswoman says she hopes to help firms win a bigger share of the lucrative market for public sector contracts.
Name:
Stephanie Staubach.
Age:
43.
What is your business called?
Topmark Claims Management Ltd.
Where is it based?
Our head office is in Glasgow, in a beautiful Georgian Townhouse in Bath Street we bought four years ago to give us space to grow.
What services does it offer?
We offer Insurance claims management, investigation, consultancy, administration and a variety of other back office services.
Many organisations elect to keep their premiums down by retaining a large level of self-insurance for risks such as motor and liability. This means that when an accident happens and a member of the public or employee decides to make a claim against that organisation that is ultimately paid the company covers the costs from their own resources. They require the services of an independent company qualified to assess third party claims taking into account current law and protocols.
The claims we investigate range from slips and trips to multi million pound property losses and fatalities.
In the last two years we have expanded into the provision of services such as debt recovery, grant assessment, and the administration and processing of benefits.
To whom does it sell?
Insurers, large commercial organisations and public sector bodies such as local authorities, the police and government departments
What is its turnover?
This year projected at more than £3 million.
How many employees does it have?
Thirty in our Glasgow operation.
When was it formed?
2006.
Why did you take the plunge?
After years of working for other people in the industry, I wanted more control over the future of my career. I wanted to strip back the bureaucracy I felt there could be in larger organisations. Also, I felt the market had veered towards non UK call centres and was keen to bring back traditional technical methods of claims investigation.
What were you doing before you took the plunge?
Working for a UK insurer and then a loss adjusting firm before moving to a global insurance broker.
How did you raise the start-up funding?
I was fortunate in that I had developed relationships with organisations who came on board from day one with capital investment which meant we had a profitable start.
What was your biggest break?
One of the organisations who came on board from day one was a FTSE 250 company, who believed in our ability to deliver and were prepared to make a leap of faith to use our start up. That initial support opened further doors.
What was your worst moment?
There are always challenges that arise in a business on a daily basis but I believe the key is to stay focused and learn from mistakes and be flexible to change.
What do you most enjoy about running the business?
No red tape or bureaucracy !
What do you least enjoy?
In the early days before our own IT department and office cleaners I didn’t particularly enjoy having to fix my own computer or cleaning the toilets. However, it’s given me a greater appreciation for the people who now do the work.
What are your ambitions for the firm?
Expansion and internationalisation.
What are your five priorities?
To keep clients happy; to recognise quickly when things are not working and make changes; to understand the competition and ways in which to differentiate ourselves; to use technology to stay a step ahead; to double turnover in the next two years.
What could the Westminster and/or Scottish governments do that would help?
I think the government is often unfairly criticised at times in respect of what they do for businesses. I think the information is out there if you know where to find it. We certainly benefited greatly due to the UK government setting a quota making it compulsory to place at least 25 per cent percent of public contracts with small to medium sized enterprises. This led to us being included in many more procurement processes than would ordinarily have been the case.
This government target is now to have 33 per cent of spending go to SMEs by 2020 and I am a member of the SME Panel, which works with the government to ensure firms benefit from this.
What was the most valuable lesson that you learned?
You have nothing to lose by aiming high. As long as you commit the time, dedication and make the sacrifices required then the rewards will come.
How do you relax?
Drinking wine, watching movies, cooking and walking the dog.
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