From humble beginnings as a freelancer to becoming the director of his own company, Simon Sutcliffe has seen enormous career growth as a quantity surveyor and entrepreneur.

But as he told Crispcap, the journey wasn’t always an easy one. Surveyors across the UK have faced numerous challenges since the pandemic, and rising marketing costs continue to pressure all businesses.

This week we arranged Sutcliffe Quantity Surveying (SQS) a small business loan of £10,000 and Simon spared me some time to talk more about the financials of his company. I’m sharing his story of business growth and how a Crispcap loan was the key to unlocking cash flow galore.

How did Sutcliffe Quantity Surveying Start?

Like most successful businesses, SQS began as a freelance venture. Simon was a quantity surveyor across a huge variety of construction projects in the United Kingdom, Europe, the Middle East, and Africa. Estimating construction costs and applying legal standards across every site, he quickly grew a fruitful network of contacts that he could rely on for consistent work.

In 2016 Simon registered a limited business and continued to affirm himself as a vital asset to construction jobs worldwide. Expanding further into rail, road, and nuclear project work, SQS have a full suite of quantity surveying services that people are utilising in every corner of the globe.

One of Simon’s most notable freelance jobs was being hired to settle a dispute between contractors that had been ongoing for years. He managed to avoid a lengthy and pricey legal battle by simply pointing out that the previous surveyor had used the wrong measurement tool! You can read more about the incident on his blog.

What Challenges Did They Face?

Growth is always born out of challenges and SQS is no exception. The company had to overcome numerous barriers to get where they are today.

COVID-19

Like all business owners in the construction industry, the pandemic had a huge impact on SQS’s revenue. Simon said that many of the sites he worked on temporarily closed in 2020, causing complete disruption to the schedule of his business and his forecasted income.

Simon wasn’t the only business owner feeling the wrath of site closures. The Royal Institution of Chartered Surveyors (RICS) reported that 63% of professionals reported decreased workloads in 2020, with over 50% experiencing cash flow issues.

Travel restrictions across the world also made working abroad incredibly difficult. Some of SQS’s biggest projects have been outside of the UK.

Fortunately, SQS managed to survive the turbulence of multiple lockdowns and maintain a base of loyal clients. He began working on site again towards the end of 2020.

Marketing

Simon also mentioned that marketing costs have been a hurdle for him to overcome. Through networking and offering an exceptional service he has been able to earn returning clients, but marketing out to new leads was still of great importance.

Marketing budgets from companies across the UK have been growing at a stagnated rate for over 3 years, indicating higher prices for paid advertising online. It also highlights economic anxiety from businesses and higher pressure for them to stay profitable.

Smaller businesses like SQS have a lot of competition across the digital advertising space, so it’s vital to use a lighter marketing budget strategically.

How Has a Business Loan Helped Their Business?

Simon used the loan to fund his corporation tax. It allowed him to spread the cost into monthly payments instead of one lump sum at the end of his business year. This strategy meant the tax bill was easier to manage and removed a big financial strain on his business. However, he emphasises that the biggest benefit of the loan was unlocking seamless cash flow for SQS.

By using the loan to avoid a huge one-off payment, Simon could funnel the funds into better ways to grow his business. Suddenly, there was more budget to support upcoming contracts, and the day-to-day costs of quantity surveying became far less difficult to control.

Some of these costs included professional indemnity and public liability insurance, health and safety equipment, and accountancy fees. What’s more, Simon was able to increase his marketing budget, and he continues to receive new leads for project management.

Simon said that a small business loan was the key to progressing SQS the way he always wanted. Freeing up cash flow can make a world of difference to your peace of mind and can accelerate your business forward in new and exciting ways. We were thrilled to help him.

What’s Next For SQS?

Simon is driven to maintain the success he’s earned over the last few years. He continues to work on big projects in the UK and abroad and is expanding his suite of services more than ever before.

But as SQS grows, so will their costs, and Simon has already told us that he’ll be back for more funding in the future. There is always room for growth, and he has great ambitions for the business as they continue to expand into new territories across the world. The construction industry is predicted to see a 8% growth in 2025 and it’s important to be prepared with the right financial support.

You can apply for a business loan with Crispcap in 30 seconds without a credit check. Simply fill out some of your business’s details here and we’ll be in touch with you to discuss your finance options.