The founder of an innovative group of companies, which expects to double its profit within two years, has won the Powys Entrepreneurship Award.
Richard Glover-Davies, who established GloverSure Ltd in Welshpool in 2004, collected the accolade, sponsored by the Welsh Government, at the annual Powys Business Awards dinner held at Dering Lines, Brecon last Friday night.
Organised by Mid Wales Manufacturing Group, the awards showcase business excellence across Powys.
“It’s a great honour to win this award because Powys is where I was brought up and now have a business,” said Richard. “Many other website companies have moved to cities, but you don’t need to.
“I am investing in the local area, creating quality jobs and have assembled an absolutely brilliant team around me. I wouldn’t be where I am today without them.”
Richard set up his business, providing web design and development and text message services, after graduating with a First Class Honours Degree in Software Engineering from the University of Wales Aberystwyth.
Within six months, he had won both local and national contracts and took on his first member of staff in a rented office in Welshpool. Almost every year since, GloverSure has grown turnover and profit, but in 2016 the Brexit vote and other factors contributed to a 40% profit drop as potential projects were cancelled by customers and smaller businesses began building websites themselves.
Following an analysis of the most profitable business services, the team decided to focus on mid-range projects, recurring work, such as building and maintaining company portals and niche project areas requiring specialist skills.
GloverSure now employs 20 staff at offices in Welshpool and Chester, where it is seeking larger offices to allow for further expansion.
A true entrepreneur, Richard expanded into the building sector 10 years ago, when he bought a commercial building on Severn Farm Enterprise Park and converted it into a business centre with 11 offices. He went on to build a 7,500 square foot unit in Welshpool which was let to Natural Resources Wales.
Establishing Montgomeryshire Homes Ltd five years ago, he has built and sold 20 new homes, is currently building 27 houses and acquiring a further 50 plots to ensure the business group continues to grow.
Almost all group profits are reinvested for growth and it is anticipated that profits will double within two years.
The award judges said: “GloverSure is a company very capable of adapting to changing market requirements, led from the front by Richard but with a strong team in support. Intuitive decision making has been key to successful performance since 2017.”