Industrial motor firm hopes to be the start-up star

9:34am Tuesday 2nd September 2008

A DROITWICH businessman, who runs a motor distributor company, has outperformed hundreds of entrepreneurs and been named a regional winner in the 2008 HSBC Start-Up Stars Awards.

The awards are a national contest to find the most promising start-up businesses in the UK.

Gareth Richardson, who started TEC Electric Motors Ltd less than three years ago, is now hoping to scoop the top title and to walk away with a cheque for £50,000, courtesy of HSBC. TEC Electric Motors was set up in July 2006 to supply industrial electric motor products direct to equipment manufacturers and also through a nationwide distribution network.

It offers a range of high efficiency motors designed to reduce electricity consumption by using less power to run and designed to meet the increasing demand for a ‘greener’ approach to energy consumption.

“Although the products are not unique to TEC, I believe we can compete successfully with other, larger manufacturers and distributors, by offering a better more flexible and responsive service,”

said Mr Richardson.

Already showing good profitability and impressive growth, TEC is surpassing all its early development targets. The company has become the largest privately owned motor distributor in the UK and is now looking to expand into Europe.

TEC Electric Motors Ltd is one of 10 companies battling it out to represent the West, Wales and Northern region in the national finals.

Its entry will now be considered by the national judging panel who will select the UK’s top 10 startup businesses to come to London and convince them why they should be named the Start-Up Star 2008.

The overall winner will be revealed at a black-tie gala dinner at London’s Dorchester Hotel on Wednesday, October 29

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