Resisting the Credit Crunch
Omega Executive Travel, based in Walton-on-Thames, is a privately owned independent travel management company that has been handling the needs of corporate and retail clients for over 25 years. The company headed up by Martin Pearce, who has a wealth of travel industry experience, delivers a personal and bespoke service to clients, along with a flexibility and impartiality that larger agencies are frequently unable to offer.
Omega recently received support through the Recovery and Growth programme, managed by Finance South East (FSE), which supports companies that demonstrate the potential for growth but would benefit from some assistance to help them through the challenges they may be facing as a result of current economic circumstances. Working in conjunction with banks across the South East, FSE uses external specialists to deliver a programme that focuses on the needs of the business to enable them to keep to their growth plans.
Barclays Bank nominated Omega for the programme in order to review current strategy and develop an up to date business plan. This was to ensure that the future aspirations of the company could be aligned with the Bank’s understanding of the business and in particular to provide a solid financial platform for growth over the next three years.
Martin Pearce, Managing Director at Omega said: “This support came at a crucial time in our development. We faced some tough conditions in 2009, as did many other UK businesses, but as a long-standing company with a persuasive track record our bank could see the potential for us to come through a difficult year with a sound future ahead of us. We have really valued the knowledge and opinions of our Recovery & Growth advisor and are excited about what we can achieve in 2010 and beyond”.
James Hague, Relationship Director, Barclays Corporate commented: “The FSE Growth and Recovery scheme has been a driving force in enabling Omega to visualise and plan for the future, having been through 18 months of turbulence brought on by the economic climate and the drop in business travel bookings nationally. Their selected advisor to the scheme was experienced as both a Financial and Managing Director, and was able to utilise this to articulate and scope topics for the business to focus on into 2010, providing a real catalyst for a renewed enthusiasm for growth by Omega’s Managing Director. This has been rewarding to see and reinforces the strong relationship between the bank and the customer”.
Sally Goodsell, Finance South East’s Chief Executive added: “If the South East is to come through the recession in a position of economic strength, it is vital that we continue to support the region’s SMEs that demonstrate the potential to remain viable and prosperous beyond the current climate. By working with these companies, alongside their banks, to develop and deliver a strategic action plan, we can ensure they will be in the best possible position to achieve that potential”.
For more information email James Edwards.
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