Round Table: Cutting Costs From Your Business (Gateshead)

Every business goes through cycles where they need to consolidate, re-group and review spending. As a business owner this can be especially challenging, especially if you need to reduce your headcount. Which areas of the business do you hold back on and which do you push forward? That’s the essence of this round table.  

Join us for a dynamic discussion hosted by David Lewis – Managing Director of Collectables – as we explore the critical topic of cost management. David will guide the conversation in a small group of like-minded entrepreneurs, helping you maximise your resources and futureproof your business.

Our discussion will be guided by the following conversation points:

Conducting a spending review
It's likely that all your costs have a value so how do you decide on which areas of spending you should prioritise reviewing?  We’ll explore smart approaches to spending. 

Involving the right people in financial decisions
Who In your team should have a seat at the table when it comes to cost-cutting decisions? We’ll dive into the key roles and perspectives that can help ensure financial decisions are well-balanced across the business. 

About Our Host
David is the managing director of Collectables, a family business he co-founded in 1986 alongside his parents, Phillip and Barbara. By the early 90s, the company had become the largest glass and china retailer in the North East and the leading independent in the UK. Expanding rapidly, they opened a flagship store in Teesside with a full-service restaurant, and later, a 20,000 sq ft site on Northumberland Street with a high-volume restaurant serving up to 6,000 customers a week.

In the late 90s, the business also ventured into wholesale, investing in retail parks and building strong equity. However, the 2008 financial crash and a dramatic downturn in the glass and china trade led to the company’s partial administration in 2013, despite never missing a loan repayment.

David’s resilience paid off as the wholesale side of the business quickly recovered, propelling the Woodwick candle brand to the UK’s number two spot (growing 50 - 100% per year) before it was acquired by Yankee. Today, the company boasts 10 retail sites, a large Amazon presence, and a diverse range of products, including fragrances, bath goods and accessories.

The Small Print 
Our round tables are shaped by the insights and experiences of attendees, so while we aim to cover the topics above, we may also dive into other related areas during the session. 

Due to limited capacity round table discussions are exclusively for entrepreneur members only. Guests or substitutions are not allowed.