Newable Company Profile

Background

Overview

Established in 1982 as Greater London Enterprise (GLE), Newable rebranded in 2016 to reflect its ambitious growth agenda and national reach. In 2023, the company transitioned to an employee-owned model, aligning with its mission to make sustainable profits by helping other businesses thrive.

Mission and Vision

Newable is dedicated to supporting small and medium-sized enterprises (SMEs) by providing essential resources in three key areas: Money, Advice, and Workspace. The company's vision is to foster inclusive economic growth, deliver sustainability for a better world, and operate transparently and responsibly.

Industry Significance

With over four decades of experience, Newable has become a pivotal player in the UK's financial services sector, annually assisting over 20,000 businesses in starting, scaling, and sustaining their operations.

Key Strategic Focus

Core Objectives

Economic Development: Contributing to economic growth by supporting SMEs.

Sustainability: Aiming to achieve Net Zero greenhouse gas emissions per employee by 2030.

Transparency and Responsibility: Operating with integrity across all activities.

Areas of Specialization

Money: Offering financial products such as working capital, growth funding, and international payments.

Advice: Providing expert business advisory services.

Workspace: Delivering flexible workspace solutions across numerous business centers.

Key Technologies Utilized

Newable employs various technological tools, including Google Analytics for web analytics and Google Maps for location services, to enhance operational efficiency and customer engagement.

Primary Markets Targeted

The company focuses on SMEs across the UK, offering tailored solutions to meet diverse business needs.

Financials and Funding

Funding History

As of 2021, Newable reported a turnover of £77.8 million, marking a 53.01% increase from the previous year. The gross profit stood at £47 million, with cash reserves of £9 million.

Utilization of Capital

The capital is strategically allocated to expand service offerings, invest in technological advancements, and support the company's sustainability initiatives.

Pipeline Development

Key Initiatives

Employee Ownership Transition: In 2023, Newable became 100% employee-owned, aiming to enhance business performance and drive growth.

ESG Commitments: The company is dedicated to achieving Net Zero emissions by 2030 and actively promotes diversity and inclusion within its workforce.

Timelines for Milestones

2023: Completion of the transition to employee ownership.

2030: Target year to achieve Net Zero greenhouse gas emissions per employee.

Technological Platform and Innovation

Proprietary Technologies

Newable leverages a suite of digital tools to streamline operations and enhance client services.

Significant Scientific Methods

The company employs data analytics and machine learning algorithms to provide personalized business advice and financial solutions.

Leadership Team

Chris Manson: Chief Executive Officer since January 2016, leading the company's strategic direction and growth initiatives.

Monica Whitefield: Chief People Officer, overseeing human resources and organizational development.

Rob Thompson: Chief Financial Officer, managing financial strategy and operations.

Ketevan Moseshvili: Chief ESG Officer, driving the company's environmental, social, and governance strategies.

Peter Barrand: Chief Investment Officer, responsible for investment strategies and portfolio management.

Phil Reynolds: Managing Director of Lending, leading the Money division.

Ruth Holmes: Chief Marketing Officer, directing marketing and communications efforts.

Mashudul Karim: Chief Information Officer, overseeing information technology and digital transformation.

Steve Jude: CEO of NewFlex, managing the Workspace division.

Malcolm Cohen: Managing Director of Advice, leading business advisory services.

Azim Hosein: COO of NewFlex, supporting the Workspace division's operations.

Angus MacLennan: Non-Executive Director and Chair of Newable Partnership Ltd.

Vanessa Sharp: Non-Executive Director and Chair of the Audit and Risk Committee.

Leadership Changes

In 2023, Newable transitioned to an employee-owned model, resulting in structural changes within the leadership team to align with the new ownership framework.

Competitor Profile

Market Insights and Dynamics

The financial services sector in the UK is highly competitive, with numerous firms offering similar services to SMEs.

Competitor Analysis

DI: Founded in 2014, headquartered in Guildford, England, operating in the banking and financial services industry.

Sumtotal: A competitor in the financial services sector.

Iterate UK: Another competitor offering similar services.

Strategic Collaborations and Partnerships

Newable collaborates with various organizations to enhance its service offerings, including partnerships with UK Export Finance and the British Business Bank to support SMEs in accessing finance.

Operational Insights

Strategic Considerations

Newable's employee ownership model fosters a culture of shared responsibility and commitment, providing a competitive advantage in attracting and retaining talent.

Market Position

The company's comprehensive service offerings in Money, Advice, and Workspace position it uniquely to address the multifaceted needs of SMEs.

Distinct Competitive Advantages

Employee Ownership: Enhances employee engagement and performance.

Integrated Services: Provides a one-stop solution for SMEs.

ESG Commitment: Aligns with growing demand for sustainable business practices.

Strategic Opportunities and Future Directions

Strategic Roadmap

Digital Transformation: Investing in technology to enhance service delivery.

Service Expansion: Developing new financial products tailored to evolving SME needs.

Sustainability Initiatives: Implementing strategies to achieve Net Zero emissions by 2030.

Opportunities for Expansion

Geographical Reach: Extending services beyond the UK market.

Partnerships: Forming alliances with tech companies to offer innovative solutions.

Positioning for Future Objectives

Newable's strong foundation, combined with its commitment to innovation and sustainability, positions the company to effectively support SMEs in a rapidly changing business environment.