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THE LATEST NEWS FROM THE BiKBBI
REMAIN POSITIVE AND KEEP A PERSPECTIVE
As the publicity surrounding the cost-of-living crisis continues to dominate headlines it´s important that businesses of all sizes in our sector ´keep a perspective and remain optimistic.
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The current crisis will inevitably affect us all, both financially and emotionally, so it´s really important to remember that the construction and home improvement sectors are usually amongst the first to bounce back from financial crises, despite typically being amongst the first to be impacted by economic downturns.
Also, on a positive note, it’s worth remembering that the KBB industry is still riding the crest of an unprecedented uplift in demand for home improvement and construction, which if managed smartly, will I hope, help businesses reduce the impact of any economic downturn - note that I am deliberately avoiding the dreaded ´R´word (recession).
Whilst I am no Martin Lewis, my advice to our readers is a bit of a no-brainer - and is two-fold.
Firstly, planning is key. Typically, a good sound business will have a five-year plan, but to weather the latest storm, businesses should shorten their forecasts and focus on the next 12-24 months. And for those that do not plan – now is the time to start! It seems obvious, but it is worth just pausing for a second and evaluating your forward plan. For brevity’s sake, business plans can be written in pencil and businesses should be nimble and malleable.
Secondly, I do not believe that cutting your way to profitability is the answer. Working smarter will be far more effective overall, especially if the downturn is short lived. We must live in hope that any financial crisis is concluded promptly and remember that the health of our businesses, and indeed the industry, is as critical post-event as it is today… and we are not in great shape today!
As an example, training and development is one area of investment that is typically the first casualty in a financial crisis but, in my opinion, should become a focal point. I believe that we should do everything in our power to preserve and protect learning and development, and the sustainable knowledge that it delivers. Any suspension of play in this area could result in decades of damage – this is time we simply cannot afford to lose. Does a business have to cut jobs, close outlets, and retract? Possibly yes, these are options, however, working smarter feels like a solution that will help us to better prepare for the future. Take the hospitality sector, this is an industry that struggled to recover post-Covid. Why? Because it was amongst the first to make its people casualties. Employees left the industry in droves, but when things recovered, business owners realized that they were not going to return – at least not in the same numbers. Unskilled labour was the only option, and the net result is that businesses have struggled because standards have dropped.
So, rather than slump into anxious pessimism or begin panicking and make cutbacks, shorten your forecasts, be honest with yourselves, plan for twelve to 24 months and invest if necessary into your business and secure its future. Let us not undo the great work that has been achieved.
Heading up an institute like the BiKBBI I am in a unique position to say that the strength we have collectively is critical to getting through this short-term economic crisis. We should stick together, look out for each other, and have the faith in ourselves, our businesses and this amazing industry to weather the storm and bounce back stronger than ever!
TOGETHER STRONGER.
BiKBBI UNVEILS GEBERIT AS ITS LATEST BIG NAME CORPORATE SPONSOR
European bathroom manufacturer Geberit, has joined the prestigious ranks of BiKBBI corporate sponsors.
The prominent Geberit Group operates with a strong local presence in most European countries, providing sanitary technology and bathroom ceramics.
The company’s production network encompasses 26 production facilities, of which 4 are located overseas. The Group is headquartered in Rapperswil-Jona, Switzerland with around 12,000 employees in approximately 50 countries.
Gerberit UK´s Managing Director, Mark Larden, comments, “Geberit is thrilled to announce its support for the BIKBBI as corporate sponsors. As an influential bathroom manufacturer, Geberit is renowned for exceptionally high product quality, focusing on innovation, reliability and easy-to-install bathroom solutions, combined with 150 years of know-how and expert support. We feel proud that by supporting the institute we can play our part in shaping a new era in bathroom installation standards and regulations, with an aim to safeguard installers, retailers and end-users.”
Damian Walters, said on behalf of the BiKBBI, “It’s vital that the BiKBBI has the support of the wider industry to enable us to continue the work that we are doing to drive positive change in the kbb installation sector and beyond through our focus on education, standards, support and compliance. We are delighted to welcome Geberit as a corporate sponsor and look forward to working with them moving forward.”
BiKBBI APPOINTS BRAND AMBASSADOR TO SUPPORT STRATEGIC OBJECTIVES
The institute has announced the key appointment of Paul Da Silva as BiKBBI Brand Ambassador, a newly created position. He will assist in ensuring that the institute makes further progress towards reaching its strategic objectives – all linked to driving positive change in the kbb industry.
Paul has a wealth of experience in the sector having held senior management positions for a number of established brands including Travis Perkins, Benchmarx, Howdens, Magnet, B&Q and MFI, spanning a career of almost three decades. More recently, his consultancy work has seen him work with many national chains, European manufacturers and sellers and independent retailers throughout the UK.
He said, “I am delighted to be working alongside Damian and the team at the BiKBBI. I have watched with interest and admiration at the progress of the institute since its inception and It’s great to be an integral cog in the way that it champions positivity. It´s helping to shape the future of the industry that I am so passionate about.”
Damian Walters, CEO at BiKBBI, commented, “The creation of this position marks a significant milestone for the institute and highlights the importance we place on achieving our objectives, which are determined by industry needs. To enable us to achieve these targets, which will ultimately benefit the whole KBB sector, we need to reach the wider industry and there is no doubt that Paul’s extensive knowledge, experience and widespanning network, along with his passion for what we are trying to achieve, will be a great addition to our strategic approach.”
