City status draws first customer

Begbies Traynor, which helps firms promote growth and survive the vagaries of the economy, has opened a branch at the Centre for Business in Devon Place.

Andy Beckingham, from Magor, and Graham Tudhope, from Monmouth, are running it. Mr Tudhope said Newport was the ideal location.

"We wanted to be Newport-based because of the granting of city status and the fact that it made sense in terms of the South Wales market," he said.

"The centre is ideal - it has every facility we could want in a managed suite of offices in the perfect location. For a start, we are right behind the railway station if people want to visit us."

Mr Tudhope said he expected more firms to be encouraged by the city of Newport because it was outside the traditional commercial base of Cardiff, it was ideal for covering the South Wales market and it could add strength to the region in enabling Newport to work alongside the capital.

"City status loomed very large in our thoughts," he said. "A number of issues landed at once and city status had just been announced. It was the icing on the cake."

Begbies Traynor, the UK's largest independent firm of rescue and recovery specialists, joins a thriving business advice industry in Gwent. The company operates from 12 offices with more than 200 staff, and Newport is its first Welsh base.

Mr Beckingham is a qualified insolvency practitioner with PricewaterhouseCoopers and Mr Tudhope has helped businesses which are under-performing or facing the risk of failure.

"Our experience shows that many of the insolvencies and failures could have been avoided if the companies had spotted the early warning signs and acted faster, or had the expertise to see where they were going wrong," said Mr Beckingham.

"Trading conditions are difficult in South Wales. While some areas of business are booming there is the ever-present threat of a downturn, which could push struggling firms to the brink.

"There is also the problem that many small and medium-size businesses have not had experience of surviving hard times. That is why we have opened a new office in Newport to work alongside businesses and help to keep them on track.

"Our approach is to give practical help and advice to businesses after getting a commitment from all stakeholders, including banks, accountants and shareholders."

Mr Tudhope said the company was anticipating a good reaction from the South Wales business community. Rescuing one business often meant that many other dependent firms could avoid failure.

"Typically businesses get into difficulty because of poor cashflow management, high fixed costs, poor marketing and sales, staffing problems or lack of investment," he said. "We have the expertise to ensure that these issues are put right and the business can consolidate. Sometimes it is a matter of making sure the right people are able to do the right jobs within a business."

The Newport office will work alongside company branches in Bristol, Bath and Exeter. The Centre for Business already houses Business Connect Newport and other business-related companies and organisations.

"Business difficulties here are no different from any other part of the world but it is important that we are perceived as being in South Wales to deal with them," Mr Tudhope said. "If I were a business here, I would not want to think that I was dealing with someone across the water."

it was ideal for covering the South Wales market and it could add strength to the region in enabling Newport to work alongside the capital.

"City status loomed very large in our thoughts," he said. "A number of issues landed at once and city status had just been announced. It was the icing on the cake."

Begbies Traynor, the UK's largest independent firm of rescue and recovery specialists, joins a thriving business advice industry in Gwent. The company operates from 12 offices with more than 200 staff, and Newport is its first Welsh base.

Mr Beckingham is a qualified insolvency practitioner with Pricewaterhouse-Coopers and Mr Tudhope has helped businesses which are under-performing or facing the risk of failure.

"Our experience shows that many of the insolvencies and failures could have been avoided if the companies had spotted the early warning signs and acted faster, or had the expertise to see where they were going wrong," said Mr Beckingham.

"Trading conditions are difficult in South Wales. While some areas of business are booming there is the ever-present threat of a downturn, which could push struggling firms to the brink.

"Our approach is to give practical help and advice to businesses after getting a commitment from all stakeholders, including banks, accountants and shareholders."

Mr Tudhope said the company was anticipating a good reaction from the South Wales business community. Rescuing one business often meant that many other dependent firms could avoid failure.

The Newport office will work alongside company branches in Bristol, Bath and Exeter.

See also feature Future is bright for new city