Thursday, 5 February 2015

A Special Small Business

Last week, I joined Ashok Patel, the founder and managing director of pharmaceutical firm, IPS Specials, to launch their new site in West Molesey. It's a fascinating story, another great example of an expanding high-tech small business in the borough. 

For the unfamiliar, 'specials' are unlicensed medicines that need to be made to bespoke standards for particular customers, who can't be treated by conventional drugs. For more background click here. It's a substantial niche market, requiring a combination of technical expertise and personal care. I toured the on-site laboratory, and was struck by the high standards involved.

More broadly, IPS Specials' new site caught my imagination for three reasons. First, it's great to have forty new jobs coming to Molesey, as the business expands. Second, if Britain is to compete in the global race and re-balance the economy, we need to maximise our potential in high-tech manufacturing sectors like this. Third, we don't talk enough about the challenges - and benefits - in small businesses scaling up. On all three counts, IPS Specials struck me as a highly innovative firm, with a really passionate and committed team in place. I wish them well in their new home.


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