At the age of just 20, entrepreneur Matty Street was promoted to manager of the Rochdale business, Team Karting. When the opportunity arose to buy the business, he was keen to act, and also had a plan to take the business on a more socially inclusive path.
“Buying your own business at such a young age is a big step,” explains Andy Hall, from the Growth Hub’s mentoring team. “There were lots of potential barriers and Matty was quick to see that he needed outside support to help overcoming them.”
Andy began mentoring Matty with help around business planning and strategy, as well as advising him on negotiating the sale of the business with the existing owners.
“Given my age, I always knew that finding finance would be a potential stumbling block,” explains Matty, “but by working with the Hub’s Access2Finance team, I discovered there were a number of options, and eventually funded the purchase through a mixture of Asset Finance and private equity investment from my family and friends.”
Since taking over the business, which employs 24 people, Matty has developed new income streams, with a bigger emphasis on corporate events, a new outside catering arm, Team Katering and Matty now also coaches young talented drivers at local race tracks with his new Race team TK extra. He has also launched Chatty Café at the track to allow residents who suffer from social isolation to use the facilities and interact.
Matty, who has experience of working with autistic children, has also invested in two seater karts for disabled drivers, and now offers ‘track days’ that are especially designed for children with additional needs. The work led to a nomination in this year’s National Autistic Society awards.
Away from the track, Matty, who is dyslexic, as well as having ADHD and mild Asperger’s, visits schools to talk to students about what they can achieve.
“We’ve tried to introduce an internal culture that is all about supporting a family-friendly and inclusive environment for people of all ages,” says Matty. “Rochdale often receives the wrong type of media attention but I was determined to change that.”
The Hub has also worked with the business around resource efficiency and helping to reduce costs, and in total five new jobs have been created, and there are plans to take on an apprentice.
The company is continuing to develop too, and its young management team is now working with the Hub’s Executive Development (EDP) team around new leadership and management support.
Support available for your business
Find out more about the fully-funded support Team Karting received.
Be the best you can be
Are you a business leader who wants to develop a culture that will drive sustainable success and develop a blueprint for where you want to be and how you’re going to get there?
Our experienced advisors, people who have managed their own companies and understand the day-to-day pressures of being a leader. We can match you with a business mentor who’ll work with you on a one-to-one basis to help set up new goals, act as a sounding board, and prepare you for change management.Click for further details
Develop a learning culture for your business
Are you a business leader that wants to attract and retain top talent, develop your employees, and create a positive employee culture shaped by your own values?
We’ll review your business, your current procedures, identify any skills gaps, and work with you on a long-term talent development plan.Click for further details
Understanding your financial needs
Are you looking to expand your business but know you can only do so with additional financial support? Do you need help to understand how best to approach funders and the type of questions they might ask?
We help SMEs whether they are seeking finance for the first time, have been declined by a lender and/or are looking for additional sources of funding.Click for further details