16 October 2014, 18:30 - 21:30
Middleton Lodge, Kneeton Lane, Middleton Tyas, North Yorkshire DL10 6NJ
Is it possible to create a world class, truly global business from nothing? Hamid Guedroudj is proof that it is not only possible, but it can also be achieved with headline-grabbing success, enormous profitability and in a relatively short period of time.
Hamid was told he was naive to even try to set up Petroleum Experts and, as a result, could not access early stage funding.
Undeterred, he went ahead drawing on his geological, engineering and mathematical expertise - and his own money - to create what is now an incredibly fast-growing business supplying advanced software tools to the worldwide oil and gas industry from its headquarters in Edinburgh and a base in Texas.
Its success led to Hamid being awarded the accolade of Scottish Entrepreneurial Exchange Entrepreneur of the Year 2013, the same year the company won a Queen’s Award for Enterprise.
Described as "a classic entrepreneur" and attracting plaudits from across the Scottish business community, Algerian-born Hamid worked as a consultant in the oil and gas industry for 13 years. It was during this period that he spotted a gap in the market where he could put his expertise to even better use.
Petroleum Experts has developed sophisticated modelling tools that can produce digital mapping of the route of oil from extraction to refining, helping producers to maximise production.
Hamid retains full control of the business and in the five years to 2012 it grew by 240 per cent, last year delivering a 50 per cent increase in profits before tax to £29.1 million on sales of almost £38m. "Cash in the bank is freedom,” is a typical piece of wisdom.
With clear parallels to the North East in terms of its growing oil and gas sector, Hamid has much to share on topics such as capitalising on growth opportunities in overseas markets, financing a business with global potential as well as how to harness a true entrepreneurial spirit.