Here is the second in our monthly instalment of business Case Studies. This month we bring you Plastic Data Card.
Plastic Data Card was started in 1992 by Jim O’Carroll who was looking to capitalise on a growing demand and decided to start his own company to make the most of this demand.
The Kent based company supplies a wide range of cards from event passes to membership cards. The company supplies Tesco as well as other blue chip companies. Plastic Data Card has a number of satisfied customers, most happy with the quick turnaround as Hannah Jones says:
“I was really impressed with the quick service that we received. You guys really stepped up to the plate to ensure our vip badges were delivered on time to a really important event.”
The company, like most small companies starting in this difficult climate, decided to look into using invoice factoring services to keep their business secure but struggled to find financial backing:
“Back then we were a young business. Some finance companies saw us as too much of a risk to offer a full range of credit facilities, so we chose factoring. This early decision has proved to be right – time and time again.
They use these services to get credit checks carried out on new customers submitting large orders. The service also has a bad debt protection element which allows for fast turnarounds and gives the company a competitive advantage.
Managing director Jim O’Carroll, said that the invoice finance service “has been a key part of the way we do business, and has certainly helped us to get where we are today.”
Today the company is keeping up-to-date with modern business and now has a Facebook and Twitter. The company is thriving in a difficult financial market by keeping to traditional business values like a good and reliable service.
Do you know of any businesses which are weathering the economic storm? Tell us about them in the comments section below.