A Seaham firm is to create more than 150 jobs as it expands nationwide.
Great Annual Savings Group (GAS), which helps businesses save money on their running costs, has already increased staff numbers from 31 to 140 after moving to the Spectrum Business Park a year ago.
Since then the firm has won a string of new contracts, increasing its customer base from 800 to almost 1,500, and has now unveiled plans to double its workforce in the next year.
GAS will take staff levels to at least 300 over the next year as part of a wider plan to transform the business into a national brand and expand its presence in key regions outside the North East.
Chief executive and chairman Bradley Groves said: “We are now ready to embark on the next phase of growth as we move towards our goal of becoming a nationally recognised company. We’re becoming well known in the North East and the aim now is to increase our footprint in other areas of the UK.
“We’ve come a long way in the past year. Part of the reason for this is that companies are increasingly looking to control, manage and ultimately reduce their running costs, which include utility bills, telecoms, insurance, IT and waste management.
We are now ready to embark on the next phase of growth as we move towards our goal of becoming a nationally recognised company. We’re becoming well known in the North East and the aim now is to increase our footprint in other areas of the UK.Bradley Groves
“Cost reduction is now becoming as important as growing revenues in the modern business world.”
The expansion will be funded by organic growth rather than acquisitions, with the firm benefiting from a host of long-term contracts that have improved cashflow and made financial forecasting easier.
GAS is also looking at taking on extra office space to house its new recruits. Last year the company received £400,000 from the Let’s Grow Fund and a separate cash injection from the Santander Growth Capital Fund – money that has funded its growth ahead of schedule.
GAS has helped customers collectively make seven-figure savings in 2016 after launching six new services earlier in the year. Clients include Durham City Hotel, bus manufacturer Optare and the Ramside Hall Hotel & Golf Club, which is projecting total savings of £250,000 by the end of the three-year contract with GAS.
The venue has cut costs by switching to more favourable electricity and gas contracts and making changes to its energy management.