Diversifying and innovating were key to the success of Haremi Ltd, who were awarded the Small Business of the Year at the Gloucestershire Business awards 2019. We take a look at what they have been up to since their win and why their entry stood out to the judges…
It’s been an exciting time for the educational publishing services provider, Haremi Ltd, who became an employee-owned business in January. Daniel Scales became CEO, having taken over from founder Paul Farnworth, who retired to spend more time with his family and pursue other interests. Haremi’s 42 employees are now indirect owners of the business through an Employee Ownership Trust which is an increasingly popular option for business owners who are looking to retire and leave a legacy. Employee-owned businesses often benefit from higher levels of employee engagement, motivation and wellbeing, and increased productivity.
Haremi has been continuing to diversify by expanding into new sectors and has helped with exciting and innovative new content solutions for professional membership bodies including CIPS (Chartered Institute of Purchasing & Supply), the Association of Business Executives and the British Psychological Society. They have since recruited an HR director and a new business development director to the senior leadership team, and are currently recruiting for a new instructional designer.
A reminder of why Haremi Ltd won Small Business of the Year in 2019
Key business points:
- UK’s leading provider of publishing services to the educational market
- Founded in 2006 by Paul Farnworth with a vision of changing education by helping organisations create new and exciting digital content for teachers and learners
- 46 permanent staff in Cheltenham and over 100 contractors
The winning entry:
Reaching more than 10 million students with their educational resources, Haremi Ltd is continually improving educational achievement around the world by helping to change the way teachers teach and learners learn.
Haremi has undergone a strategic review with external advisers, based on contact with Business Link, Get Set for Growth, a business coach and the GAINS initiative. In line with that, Haremi has re-organised the business resulting in empowering their people to create a more efficient and effective working environment.
Following a period of significant curriculum reform which meant they were inundated with work, they are now in a quieter period as there isn’t an obvious driver for publishers to create new content (as teachers have no reason to buy). Haremi used to work solely for corporate educational publishers but recognised there would be a slowdown in that market, so proactively widened its portfolio into other educational markets such as; independent publishers, UK awarding bodies, and vocational publishers.
No other company in the world works with so many UK based educational organisations on a regular basis. Haremi has also expanded its customer base into countries such as; Northern Europe, North America, Australia, South Africa, Thailand and India.
In the year prior to their entry, Haremi saw in increase in turnover of 39% which resulted in a staggering eleven-fold increase in gross profit, and is particularly impressive given the static educational market. Haremi is extremely proud to boast 100% customer retention!
Nominations for the Gloucestershire Live Business Awards are open and close on Tuesday, June 29. For more details and to nominate, see Gloucestershire Live Business Awards website.