PETE LANDON has spent the last seven months turning his dream into a reality. With £70,000 of his own savings and a £73,000 Regional Enterprise Grant, he started his own engineering company, Wave Engineering.

Assisted by some 'around the clock' independent business advice from Business Link Wessex, his company is now a rapidly expanding business.

Established in May this year, Isle of Wight based Wave Engineering produces high precision machined components for various markets, with the business developing more recently into the marine and aerospace industry. One of the company's latest projects was producing components for a customer who is rebuilding Spitfire and Hurricane aircraft back to flying condition.

"Initially I used Business Link Wessex as a resource for advice and guidance, just to make sure that I wasn't completely mad starting up a business. I also knew they had access to the right contacts to help me get financial help. To get the business up and running I had invested £70,000 of my own savings and in doing so I had to sell my house, so, I needed to make sure that I would be able to gain some of that investment back. The greatest benefit I have had from using their services is the help my business adviser provided me in assembling my Regional Enterprise Grant application. Effectively, without his help I may not have won the grant and the business most certainly could not have progressed without that £73,000."

Since May, Wave Engineering has developed at an impressive rate of knots.

"I have adopted an aggressive five year business strategy which focuses on high growth. I am aiming at 100 per cent growth over the next two years alone. This year I will reach my goal of £45,000.

Next year I am already on target to reach £140,000 and in four years my projected turnover is £400,000. To meet these targets my strategy involves investing in people, employing more quality staff, continuing to invest in high quality machinery and freeing me up so that I can work full time on selling the business and seeking out business leads.

"Already I'm seeing growth. I started with two full time employees and am considering another at the moment. We also started with two customers and now have 12 and I'm looking to expand further every day. I have maintained high investment into the best high-tech machinery to give my business that competitive edge. Through this technology advantage I'm able to deal with large blue chip clients, as well as compete in the more general machining market sectors."

"In two years I have plans to move into new premises so that I'm able to continue expanding. I'm also looking to invest in a specific

specialist machine that will enable me to win larger contracts over my competition due to reduction in labour costs. I intend to continue working with Business

Link Wessex to develop a specific marketing plan and take advantage of other grants which are available to me."

Simon Thomson, Business Link Wessex Business Adviser for Wave Engineering, has been with Pete since the company started. With a background in the aerospace and hovercraft industries, Simon says his understanding of the markets meant he had a clear picture of what Wave Engineering was trying to achieve and who they were trying to reach. He said: "To date we have gone from nothing, through to converting a factory unit, to setting up a company, to applying and gaining a Regional Enterprise Grant for £73,000, to taking on the first employee. The company is now on target to expand steadily and be a real success story."