AM Bid turnover hits £1m mark for first timeAM Bid, Scotland’s leading bid and tender specialist, is pleased to report it has exceeded forecasts in recording a £1 million turnover for the first time in its seven-year history.
Following a year of continued regrowth and building back from the initial impacts of the Covid-19 pandemic outbreak, the business saw revenues up 43% on the previous year (£739,429) to sit at £1,044,684.
Figures to the year end 30 September 2021 also showed the Edinburgh-based company’s net profit had increased, growing to £94,626, almost five times the previous year’s figure (£18,961).
There was an important expansion of the firm’s services in 2021, September seeing AM Bid launch its first digital platform, Ultimate Tender Coach, a unique online bid training programme created to provide SMEs with the tools and expertise to bid for public contracts.
Following significant investment in the creation of Ultimate Tender Coach, the company will continue its focus on the development, marketing and sales of this digital product across the coming year, alongside the delivery of its traditional outsourced bid support services.
Ultimate Tender Coach was brought to market following the commissioning of a research study showing that many SMEs experienced significant challenges in winning public sector tenders.
The business is continuing its investment in technology in 2021-22, with the commitment to enhanced customer relationship management and proposal automation systems bringing greater sophistication to processes and increasing efficiencies across the business, as it continues to grow.
The company’s Board cycle recommenced in 2020-21, coinciding with the appointment in April 2021 of new company director, Philip Thomson, who serves as the company’s Bid Development Director. Philip joined the Board which also comprises David Gray (Managing Director), Andrew Morrison (Co-Owner and Business Development Director), Emma Morrison (Co-Owner) and Carrie Campbell (Non-Executive Finance Director).
The business also grew in number from six permanent employees to 12 during 2020/21, in response to the continued demand for its services. This growth included recruitment to newly-created roles in Marketing, Business Development and within the company’s Bid Team. The business hired three employees recruited through the UK government Kickstart scheme, which was introduced to create new jobs for 16 to 24-year-olds at risk of long-term unemployment as a result of the Covid-19 pandemic.
Managing Director David Gray said: “I would like to place on record my sincere thanks and appreciation to all colleagues at AM Bid, who continue to demonstrate their commitment to providing high-quality professional bid support to our clients.
“This commitment has allowed us to sustain market-leading bid win rates whilst reinvesting and diversifying through the creation of an innovative digital product, all whilst achieving record revenues and increased profits, during what has continued to be a challenging and uncertain year for many businesses.
“Whilst there is still significant economic uncertainty caused by Covid-19 and Brexit, we remain focused on the growth of our digital offering, whilst remaining agile, to ensure we can adapt quickly to change.”
AM Bid was founded by Andrew Morrison in 2014. Operating in more than 25 sectors, the company has achieved an independently audited industry-leading bid success rate of more than 80%, which has resulted in numerous awards.
The firm provides services to businesses across the United Kingdom and Republic of Ireland, with clients from FTSE 100 companies and household names, through to national and regional businesses, SMEs, micro businesses and sole traders. AM Bid has also delivered work in Spain, Saudi Arabia, the Falkland Islands, USA and Australia, for overseas opportunities as well as for international clients seeking assistance when bidding into UK and Irish markets.
It has recently returned to a hybrid working model, using offices at WeWork in the centre of Edinburgh for collaboration, coaching and meetings, whilst retaining the flexibility to work remotely as required.