EDINBURGH-based bid and tender specialist AM Bid has broken the £1 million turnover barrier for the first time in its seven-year history.
Following what the business described as a year of ‘continued regrowth and building back’ from the initial impacts of the pandemic, revenues increased 43% to £1,044,684.
Figures to the year end 30 September 2021 also showed net profit has increased to £94,626 – almost five times last year’s figure of £18,961.
AM Bid expanded its services this year, with the launch of its first digital platform, Ultimate Tender Coach, an online bid training programme created to help SMEs bid for public contracts. The company revealed it will continue its focus on the development, marketing and sales of this product across the coming year, alongside the delivery of its traditional outsourced bid support services.
The business doubled its number of permanent employees from six to 12 during 2020/21. This included newly-created roles in marketing, business development and within the bid team. The business hired three employees recruited through the UK Government Kickstart scheme, which was introduced to create jobs for 16 to 24-year-olds at risk of long-term unemployment as a result of the pandemic.
MD David Gray said, “I would like to place on record my sincere thanks and appreciation to all colleagues at AM Bid, who continue to demonstrate their commitment to providing high-quality professional bid support to our clients. This commitment has allowed us to sustain market-leading bid win rates whilst reinvesting and diversifying through the creation of an innovative digital product, all whilst achieving record revenues and increased profits, during what has continued to be a challenging and uncertain year for many businesses.
“Whilst there is still significant economic uncertainty caused by Covid-19 and Brexit, we remain focused on the growth of our digital offering, whilst remaining agile, to ensure we can adapt quickly to change.”
AM Bid was founded by Andrew Morrison in 2014. Operating in more than 25 sectors, the company has achieved an independently audited bid success rate of more than 80%. It has recently returned to a hybrid working model, using offices at WeWork in Edinburgh for collaboration, coaching and meetings, whilst retaining the flexibility to work remotely as required.