Scots business strategists Genoa Black has announced record results – and are now launching a new management consultancy arm.
Turnover and profit have soared for the Edinburgh specialists as clients have sought support to help their companies grow. Latest results show turnover up 24 percent year on year, with profit up 26 percent to £423,000.
The firm secured 25 new clients last year and has taken on five new staff with a further eight hires planned for the months ahead.
The new division – known as Genoa Strategy – has opened a new office on Edinburgh’s George Street and is being by led Gaynor Duthie who was appointed Managing Partner last year.
“This is a natural next step for the business,” says Duthie.
“Since Genoa Black launched in 2013, we have developed a reputation for our advice being underpinned by research and not just opinion. The more complex a business and its market is, the more important it becomes to deliver advice that we know will be impactful,” Duthie says.
“There is an unacceptable level of light touch advice out there, and the fact that 86 percent of our new business comes from referrals is testament to the impactful nature of the advice we deliver.
“Genoa Strategy has been established to deliver management consultancy advice to complex SMEs and corporates, targeting companies who place a value on growth. We have thrived in the current environment due to the client relationships, our people, our culture and the quality of advice we give,” Duthie concludes.
The new division has a diverse team of strategists whose experience covers the breadth of B2B complex businesses and the challenges they face in areas such as growth planning, business positioning, business intelligence, marketing penetration, sales strategy, people leadership and governance, and digitalisation.
Alan Kinloch Founding Partner said:
“The core principle of the advice we give is to de-risk decision making and the combination of Covid and Brexit has generated plenty of risk for companies. The advice we have given our clients and their reaction to it highlighted a dearth of expertise available, particularly in complex businesses. We acted on this and developed this new division within Genoa Black to meet this need.”
Rob Potter, Director of Client Strategy commented:
“Strengthening our team in the current climate will help clients leverage the growth opportunities available to them as the economy begins its slow recovery from the Covid-19 pandemic. Businesses must realise now is the time to act.”
In addition to the new management consultancy division, the existing Genoa Black business will continue to focus on providing strategic brand and marketing services to its clients to achieve commercial impact.