Souter in top gear at Business Club

Souter in top gear at Business Club

Brian Souter was just the ticket when he addressed members at Glasgow South Business Club on Thursday 23 February.

He said that Small and Medium Enterprises (SME) would lead the way out of the recession. ‘Never lose sight of the fact that SMEs create the jobs and the wealth.’

Dressed in flamboyant red shoes, the world entrepreneur – with 30,000 employees – said he enjoyed telling people he was a bus conductor when he and his sister set up a bus company in the 1980s. He is actually an astute, fully qualified accountant. In the course of his early training, he spotted the opportunity to provide a bus service between Glasgow and places such as Aberdeen and Inverness. From that experience grew the major bus company Stagecoach. He now operates Souter Investments, the family firm which recorded five major new investments in 2011 and whose personnel won top awards. With interests in Istanbul, Poland, 17 European cities and the UK, and with a minority shareholding in a new Latin American mobile virtual network under Virgin Mobile Latin America, he doesn’t seem to stop for breath.

But he admitted: ‘It was a relief on occasion to know I’d still got my home.’ He’d used his home as security and only when one deal came good unexpectedly because of a mistake in a property sale, was he able to breathe a sigh of relief.

He also said he’d learned from his mistakes. ‘We are all capable of making them,’ said Sir Brian to a full club turnout at an Ibrox stadium function suite.

On bus travel he contested: ‘Only when middle class people use the bus will that form of travel be de-stigmatised. But other things need to be in place too: the right public policies; priority lanes; buses running on time; and park and ride facilities.’

By making wi-fi available on his buses, Sir Brian’s companies had seen a high conversion rate of passengers from cars to bus. ‘But we’ve discovered a new problem – cars following our buses to avail themselves of our wi-fi!’

He shared with Club members and their guests his latest development: ‘Where a business is devoted to giving good customer service, the profits can be embarrassing large. So we now plan to put 45 sleeper coaches on the road – not the 25 that are currently available. This will change the business graph.’

In his summary he said that two things determine what happens in a company. ‘There are the mechanics of what is done, how that is controlled and audited. There there is the dynamic of ideas, passion, risk taking, vision, relationships, drive and gut feelings – all to do with people. You can have a good marriage of 25 years where the mechanics are fine but when you have a wife who can make you laugh still, you have the dynamics of a good relationship. Carry that through to business and you’ll have a really good business.’

Club President Remo Pisaneschi thanked Sir Brian Souter for his illuminating talk