Power Efficient Systems are manufacturers of EnergyAce, an innovative energy saving system which combines Power Factor Correction (PFC) and Voltage correction equipment.
Based in Skelmersdale, Lancashire, Power Efficient Systems has developed a range of patented energy saving systems to reduce electricity consumption and improve efficiency for industrial, commercial and domestic users.
Power Efficient Systems has experienced sustainable growth since the business was established in 2002.
Eileen Vizard, Director of Power Energy Systems, explains: “We have been performing well due to our innovative new products for the domestic and industrial sectors. However, I knew that if we were to target clients that would take increased volume and variety across our product and service portfolio we could be more effective − which would require market intelligence that was not available to us.”
The cost to bring in the external expertise required to research and implement a business development strategy was prohibitive, so Eileen called on support from the Manufacturing Growth Fund, a grant funding programme aimed at increasing the productivity of small and medium-sized manufacturing enterprises in the North West of England.
Eileen met with Phil Anders, a specialist manufacturing adviser in the Lancashire region to talk through the businesses growth ambitions and how the grant could support this. Together, they developed a business development consultancy project which would bring in the expertise that Power Energy Systems required, with 30% of the cost funded by the Manufacturing Growth Fund.
Power Energy Systems procured the services of an industry specialist to provide market intelligence which enabled them to develop a strategy which targets customers which would offer the greatest return on investment.
As a result, the business has entered new market sectors and higher-profile supply chains. Eileen says: “I am delighted with the impact that the project has made to our business. Even at this early stage of implementation it has created new business opportunities, and we’ve recruited a new employee to help support this growth.”
Phil Anders, the Lancashire Manufacturing Growth Fund specialist manufacturing adviser, adds: “Power Energy Systems is an engineering-led, well-respected business and they are renowned as offering quality products, services and customer experience.
“The new markets present the opportunity for increased productivity, profitability and growth that they needed. Resolving the complexity of identifying target markets and supply chains means that Eileen and her team are already winning new business. They’re looking to grow significantly over the next year with this strategic approach.”
The Manufacturing Growth Fund is available to small and medium enterprises operating across the North West of England and is delivered collaboratively by the Business Growth Hub, part of The Growth Company, and the Cheshire and Warrington Growth Hub, Cumbria Business Growth Hub and Rural Growth Network, Boost - Lancashire's Business Growth Hub and Liverpool City Region's Local Growth Hub.