MNB Precision "incredibly proud" to receive Queen's Award
“We are all incredibly proud of what the team has achieved.”
MNB Precision is one of the latest businesses across Coventry and Warwickshire to be formally presented with The Queen’s Award for Enterprise (QAE), and, as the applications period for 2023 opens from 1 May, The Lord Lieutenant of Warwickshire, Tim Cox, is urging more Warwickshire and Coventry-based companies to apply for the newly named King’s Award for Enterprise (KAE).
The KAE is the highest accolade available to UK businesses and brings unparalleled prestige, exposure, and credibility to a company, as well as pride and inspiration to employees. It is presented for outstanding achievement in four categories:
- Innovation
- International Trade
- Sustainable Development
- Promoting Opportunity (through social mobility).
MNB Precision is based on the Warwickshire/Coventry border. The family-run engineering firm received its award in the International Trade category, having increased its exports from five per cent of its turnover to 75 per cent.
Warwickshire Means Business caught up with MNB Precision Director Luke Benton to hear their story:
How do you feel about receiving the prestigious QAE?
Luke: “There is an excitement about how we have been rewarded for years of hard work. We are all incredibly proud of what the team has achieved. Everyone recognises The Queens Awards as being the top of the top when it comes to accolades, so to know that we have been awarded this most prestigious iconic “trophy” is amazing. The feeling is surreal.”
Exports used to account for five per cent of MNB’s turnover…now they account for 75 per cent. How did this happen?
Luke: “The sales team at MNB highlighted the requirement for high complexity machining around the globe and pinpointed these international customers within MNB’s existing industries to target. It was a very direct and deliberate move that has garnered great success. The sales team has been involved at every stage to ensure that MNB’s distinct reputation travels before we do. A business’ reputation is everything so to have a strong international flavour to ours is terrific. There is no secret to our success. It is our people. Straightforward and direct; our people understand the requirements of working at MNB and they strive to deliver more than what is expected. This is what we do for our customers.”
So, what advice would you offer to businesses looking to crack the overseas markets?
Luke: “Understanding the market and the potential limits is a good place to start. By understanding the limits, you can plan your way through them and onto great things. Also, first ensuring a business has a sound and respected local reputation, then national business reputation, is a key factor. Selling “Made in the UK” internationally is fairly easy, the world wants British-made, but making sure you supply the UK with a first-class product or service is the first stage to taking your business to higher heights.”
Key benefits of the KAE include improving opportunities to break into new markets, attracting new investment, raising awareness of brand and products, attracting new talent, and raising employee morale. Successful companies can fly the King’s Award flag and use the emblem on marketing materials for up to five years. They are invited to a Royal reception and presented with their award by the Lord Lieutenant, The King’s representative in the county.
The Lord Lieutenant of Warwickshire, Tim Cox said: “I am delighted for MNB Precision to be recognised in this way for its outstanding achievements. I am also keen to see more Coventry and Warwickshire companies applying for The King’s Awards for Enterprise in 2023. They are the highest accolade available to UK businesses and offer unparalleled prestige, exposure, and credibility to your company.”
The applications period for the KAE opens on 1 May 2023. To find out more about The King’s Awards for Enterprise, visit www.gov.uk/kings-awards-for-enterprise