Adrian Brooks is the Director of Chatsbrook Vehicle and Asset Finance. During Talk Money Week, he talks of how money can be an emotive subject – and what he is doing to save a few pennies during the cost-of-living crisis
I have always had a strong work ethic as academically I was never the strongest but felt a sense of satisfaction through building relationship and trust. Initially I trained as a motor technician then changed direction marginally – spending 20 years of my working career within the motor industry in the sales environment which shaped my future and skill set. There is no doubt since starting Chatsbrook my personal confidence has grown, through the need to engage in the local business community where you are reliant on yourself and building a personal brand. At the beginning of the journey, the vision was – and remains – to become the funding partner of choice. However, more recently, I feel as a business we should give back by utilising the brand we have raised and supporting others who would benefit from our assistance. I look around and see how far we have come, as a business and individuals, and am proud of the journey. Strength comes from the people we are surrounded by, whether this is family, close friends, clients or the team.
Chatsbrook first came about in 2015 whilst working within a Plc environment where I felt the personal touch was disappearing. Anyone can sell a product once, but longevity and future business is built through relationships and familiarity. At the start of the thought process the initial thinking was to focus towards becoming an independent motor finance broker providing prospective clients an alternative method to finance their vehicles away from dealerships by applying a consultative approach. This quickly developed into business finance, supporting growing businesses with the same thought process but applying to asset finance, working within the construction sector and more. Over the years, our core products have developed further – with more coming. Prior to starting Chatsbrook, I spent the previous 12 years working within the sales dept for Inchcape Plc with the last five years of this period as the Business Manager managing a sales team of 12 on a day-to-day basis. I enjoyed the role very much and have a great deal to be thankful for – it gave myself the confidence to go forward on my own.
Being the founder of a Norfolk based business, and living in the region, I’m passionate to support the local businesses which are vital to our collective success. Our focus shall ‘always’ remain geared towards the region. When we see clients’ businesses grow, recruit and start to deliver their objectives, you feel a sense of satisfaction that we helped – no matter how small. Only the other day I had a conversation with a business owner within the hospitality industry who, six months earlier, was on the edge who we supported through our own facility – resulting in their business turning around. The call was one purely to pass on their thanks.
At the point the pandemic hit our world changed. Lenders naturally withdrew from the market, turning off the tap to both our clients and revenue to ourselves. Being a ‘relationship business’ we actively approached our existing clients – reaching out to them, offering our support, arranging payment holidays to ease their burden.
The first six to eight weeks involved arranging payment holidays or offering guidance to clients – cashflow/money, when pushed, is an emotive topic and many of our clients remain in business today. Since the pandemic we have experienced growth in most sectors. Lenders are back to pre-pandemic levels with lending, and credit appetite is mostly back, however, certain assets have been excluded due to higher risk in the current financial climate. The key takeaway from the pandemic was how the small business community pulled together for each other checking whether via a video call or on the phone.
During 2019, the focus was towards motor finance and asset finance. The impact from the pandemic resulted in lenders appetites changing therefore new products were needed to assist with cashflow funding. During late 2020, we started the process to onboard commercial loan providers as an alternative to prospective clients’ banks. In addition, we sought to obtain our own lending facility within the business which was approved in November 2021. That started a new journey for Chatsbrook Capital Limited, where our own funds are invested to local businesses -supporting the local economy.
Chatsbrook Vehicle Leasing shall be officially launched this month. The business shall be led on a day-to-day basis by Jay Ereira, who joins Chatsbrook as Operations Director. As a business we shall be able to cater in the supply and funding for both private and business clients within the passenger car market, through to light commercial vehicles which includes vans and 4×4 pick-ups. With the rapid shift in the automotive market, we anticipate the EV market for 2023 to be the core focus, where businesses shall review company car policies and their green credentials.
Since starting the business there has always been a pledge to support charitable work, which at the beginning was through sponsorship. More recently we have supported Norfolk & Waveney Mind in skydive campaigns, Walking to Prevent Suicide, and Do Blue day. Most recently, we participated in the Sleepout 2022 at Carrow Road in aid of The Benjamin Foundation, which was an eye-opening experience with the challenges the homeless face. For December, Chatsbrook shall be supporting EACH with a Christmas Drive Out day: working alongside local car groups, meeting at Ketteringham Hall, and arriving at The Nook for sibling day – where the families can enjoy viewing the vehicles and chat, whilst we raise funds for the amazing work they do. In 2023, we have further events planned which shall involve a skydive, Three Peaks Challenge and a jet ski!
Act now in the cost-of-living crisis. I appreciate and see the challenges faced, however don’t bury your head in the sand. Explore your outgoings and question, are they really necessary? From a personal perspective, I enjoy bulk cooking meals to save a few pennies – planning ahead saves both time and money. Unplug devices if not being used at home – although they may be turned off do unplug them. Explore debt consolidation to save on monthly outgoings. And are you getting the best from your savings/investments?
Starting and running a business has been the toughest challenge which I’m sure many business owners can relate to. However, the highs outweigh the lows. I’ve made mistakes along the way and more will follow but I’m pleased to have taken this route and will continue this path. I’m always happy to assist others and share my personal experience with others. A key factor in my personal journey has been the connections made along the way who have supported us, whether personally or commercially. I would say to anyone: “If your circle of connections doesn’t inspire you need to change your circle.”
Chatsbrook Vehicle and Asset Finance is based at Ketteringham Hall, Norfolk. Talk Money Week, run by the Money and Pensions Service, runs until November 11.
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