Company: Minerva Procurement Consultancy Services Ltd, Basingstoke, Hampshire, United Kingdom
Company Description: Minerva Procurement Consultancy Services is the UK's most successful cost reduction and procurement consultancy exclusively for the school sector. Minerva was formed in February 2010 when founder, and Managing Director, Lorraine Ashover identified that school bursars were struggling with their increased responsibilities in respect of reducing costs and implementing robust procurement practices.
Nomination Category: Individual Awards Categories
Nomination Sub Category: Female Entrepreneur of the Year – Business Services –10 or Less Employees

Nomination Title: Lorraine Ashover, Managing Director

Describe for the judges the activities and accomplishments of the nominated entrepreneur since the beginning of July last year (up to 500 words):

Working as an education specialist Relationship Director in Barclays, I recognised the significant changes that were happening on the ‘business’ side of educational establishments including the impact of the recession on the budgets of both private and public organisations. It was apparent that reducing costs and having a robust procurement strategy were racing up the agenda. I also found that my innovative outlook, dynamic work ethic and customer centric approach were becoming increasingly at odds with the Bank. So in February 2010 I turned my back on my secure corporate job and decent salary in order to strike out alone.

Since 1 July 2011 I have:

•More than doubled my active client base (an additional 13 schools a 59% increase). Minerva has also been shortlisted, and is awaiting the outcome, for providing services to an 18 strong independent schools group and a 6 strong Multi Academy Trust.

•Moved my business from home to commercial premises

•Taken on my first two employees

•Reviewed spend categories as diverse as gas, electricity and oil, stationery, telephone calls and lines, waste, pupil transport, kitchen maintenance, cleaning and postage.

•Delivered an average saving on category reviews of just shy of 9% and as high as 42.5%.

•Identified sustainable annual savings of over £150,000 across the schools I am working with.

•In only 4 months for the financial year to date 2012/13 Minerva has increased year on year turnover by a huge 58% and net profit has increased by a staggering 83%. This has been driven by increased client numbers and an active policy of increasing pricing to the optimum level for Minerva and the client schools.

•Been sought out as a subject matter expert on the issue of procurement in schools (see attached PDF of a sample recent article).

•Received a number of exceptional testimonials to accompany those received since inception of the business (see attached PDF’s of testimonials/case studies).

•Invested in the future of Minerva through the purchase and adoption of new technology and systemisation of processes.

•Continued to passionately look after my suppliers as well as my customers (see attached URL for a link to my blog about the Minerva annual birthday bash).

•Maintained my strong belief that, despite being an SME, we have a Corporate Social Responsibility and actively look at ways to give back to our wider community.

Two recent examples:

EveryGirl Modern Muse
As well as being one of the core organisers of the event, I was part of a three woman panel entitled “Taking Control of your Pathway”. URL’s are attached for the main event page and also my blog about my involvement.

City Gateway Project
Based in Tower Hamlets and has many aims including getting the youth and women in the communities it serves in to work. As part of this initiative I have been involved for the past two years in providing a mini training course for groups of 10-15 young people on areas such as CV writing, face to face and telephone interviewing and workplace etiquette.

Provide a brief biography of the nominated entrepreneur (up to 100 words):

Fulfilling a long-standing ambition to be her own boss, Lorraine Ashover set up Minerva to help schools reduce cost, streamline procurement practices and save time. Prior to Minerva, Lorraine worked for Barclays Commercial Bank for almost 20 years. One of the youngest people to be promoted to Relationship Director, at the time of her appointment Lorraine was also one of only two females out of 95 employees in that role. When not working Lorraine runs after her 6 year old daughter Maisie, escapes into a good crime novel and bemoans the demise of her beloved Nottingham Forest football team!