So Adamantean is three years old, and we cannot hide our surprise at how fast the time has passed. It is a well-established truism that most business failures occur within their first three years of trading. Survive those initial 36 difficult months and you may no longer be considered a ‘Start-Up’.
And so, despite the nay-saying and doom-mongering of some less enthusiastic commentators, Adamantean has survived its third year in business, and has simultaneously and seamlessly become an established part of the broadcast supply chain for many of you, but that is only a part of our story.
In fact, ‘survived’ is not really a fair reflection of our efforts and results over the last three years and, because it’s Christmas – and at Christmas you tell the truth – we would like to take this opportunity to blow our trumpet a little or, perhaps, a lot.
From a standing start in January 2017 we have accumulated an enviable panel of funding partners who have believed in our dream and supported our growth plan, enabling us to deliver on our offering. And the support we have received from all of our customers has been overwhelming.
This has enabled us to achieve further continued growth in 2019, when we have welcomed Joanne Gaydon to the team as our new Operations Manager, and Peter Samengo-Turner as our new CFO. With our year-on-year finance business volume enhanced by 40%; our revenues increased by 15%, and the quantity of deals completed up by 25%, in an uncertain time – and I challenge anyone to disagree that 2019 has been the most uncertain of times – these are terrific statistics, of which we are immensely proud.
However, one question continues to be asked: “What does Adamantean actually mean?”
Well it has nothing to do with a 1980’s post-punk performer, nor is it related to the X-Men or the Avengers! Although it may be argued that it shares the etymology of Wolverine’s adamantium skeleton and the shield of Captain America.
Let us explain. The noun adamant is a legendary stone, rock or mineral of impenetrable hardness and durability or, in other words, great integrity.
Adamantean is an adjective meaning to possess and display the properties and qualities of adamant. In our case, the most important quality we have wanted our business to display is integrity.
We believe, after three years, we have demonstrated the importance of honesty, trust, transparency, and clarity. You can’t please all of the people all of the time, but we will never apologise for refusing to compromise on this ethos.
We have delivered finance solutions totalling £millions into the secondary and tertiary education sector; we have funded vehicles of all types, shapes and sizes; fixtures and fittings; aircraft; computers; plant; boiler control systems, solar panels and other renewable energy equipment; chain hoists; oh….and a fair amount of film and broadcast equipment for good measure.
Our customers cover an extremely broad and varied spectrum, and include schools, colleges and universities; exhibition stand makers; graduation attire suppliers; logistics providers; and obviously a cornucopia of companies involved in production, post-production, outside-broadcast, equipment rental, events, music recording, equipment manufacturing and supply.
The financial products and solutions we have deployed are varied and, in some cases, sophisticated and bespoke. We have on several occasions demonstrated an innovative approach to solving the everyday problem that unites our customers: what is the best way to pay for the equipment that helps your business grow and succeed?
We haven’t won every deal we have pitched for, but usually only because we haven’t always been the cheapest. Given the premise that every business must abide by the fundamental principle of “Good, Fast, Cheap: You can have any two!”, if that is the only way our competitors can find to beat us, then we don’t think we have too much to worry about!
Thank you to everyone who has supported us through the challenges of the last three years, we take none of you for granted and are excited to work with you further as we head into the third decade of the 21st century.
We wish you all a happy and restful festive period and look forward to sharing even more exciting news in 2020 when we take our first steps as an established company.
Gareth, Sam & Duncan