Fastest growing company in Europe
European Business magazine has recently announced that Telecom plus PLC is the fastest growing company in Europe. This is a prestigious accolade and one that represents the successes of the Company over the last few years, and could also be a strong indicative of where the Company is headed. Don’t let this fantastic opportunity pass you by, Telecom plus PLC is going places!
Extract
The founder of Telecom plus says it is his passion and entrepreneurial ambition that has helped drive the company to the top of this year’s survey. The unorthodox business has been locked in a David and Goliath battle for market share. It relies on customers’ word of mouth to promote its low-cost telephone, internet, gas and electricity services.
Executive Chairman, Charles Wigoder, 44, believes “businesses that are run with inspiration and imagination are invariably more exciting and successful places to be.”
“What differentiates me from my competitors is my personal involvement in Telecom plus – Telecom plus is my passion,” he says. “My success as an entrepreneur will be judged by the size and profitability of the business I build and I find it enormously satisfying to compete successfully against large multinational companies with far greater financial resources than ourselves.”
Trading as the Utility Warehouse Discount Club, Telecom plus is a “virtual” retailer, so has no shops – just a call centre and 180 staff to provide back-up. Low overheads allow Wigoder to offer cut-throat rates, driving average sales growth of 39% over the past three years. “The secret of our success has been our unique business model,” he says. “We also have the ability to move quickly to take advantage of opportunities.”
In contrast, competitors are lumbered with bureaucratic management and costly infrastructure, he says. “We are the only entrepreneurial-focused business in a market which is dominated by former state-owned monopoly suppliers.” Unlike his peers, his remuneration comes largely from dividend cheques – another powerful incentive to perform.
