As part of our ongoing Rebuild project, Be the Business is catching up with small business leaders from different industries – including TSG Marine, which is experiencing rapid change brought on by the coronavirus pandemic.
TSG Marine is a family-founded specialist marine engineering company based in the North East of England. Traditionally focused on the oil and gas industry, the company has been diversifying its expertise over the last few years to support the global energy transition.
Moving in time with an industry which halted many major maintenance projects due to the changing pandemic and associated oil price crash, TSG Marine pivoted to identify smaller contracts and B2C opportunities.
“Businesses are being forced to re-evaluate how they operate because of the public health crisis, and, as with many, we’ve used the pandemic as a catalyst for change,” said Erika Leadbeater, managing director at TSG Marine.
“The positive coming out of the pandemic is that it has pushed people to think differently and make some of those bolder decisions and changes they may have been putting off.”
It wasn’t just the pandemic that TSG Marine tackled during 2020, but the energy industry’s plan to move the UK closer to Net Zero in the near future too.
Taking the pause in contracts as an opportunity to review business strategy and expertise, the company was able to utilise the time to build on its strengths through renewed and expanded partnerships, drawing on the region’s extensive supply chain.
Tackling uncertainty in multiple areas
Although TSG Marine is in a strong position, Erika pointed out that there is a great deal of uncertainty for many in the industry at present.
“The industry is tackling a multitude of challenges at once: the health crisis and its responsibilities in protecting workers; the associated drop in oil prices which impacts on profitability; and the push from government towards Net Zero. All of these require thought and planning, innovation, and a solid strategy to keep moving forwards safely.”
“We’ve already seen some companies fold due to these continued challenges and that’s not ideal for an industry which is going to be more reliant than ever on collaboration as a means to weather the storm.”
We’ll be catching up with Erika every month to find out how TSG Marnie is getting on. To follow their story, navigate the dropdowns below to find out what the updates are across the key challenges the business faces.