Investec’s Mid-Market 100 highlights the ‘forgotten army’ of medium-sized businesses that are leading the nation’s recovery, writes Josephine Moulds
John & Arthur Beare sells violins that cost from £10,000 to £10 million. Customers range from those who learnt to play in their youth and decide they now want a better violin, to patrons of the world’s finest musicians.
It has proved to be a successful business. Established in 1892, J & A Beare is growing revenues by 30 per cent a year and remained unscathed by the recession. Simon Morris, one of the company’s joint owners, says that the financial crisis may actually have boosted trade.
“The odd thing was, in 2008 quite a few people who had been thinking about buying an instrument, it prompted them to go ahead and put their money in a safer asset. Suddenly, you couldn’t even leave [money] in the bank with any confidence, the stock market was incredibly shaky, and currencies were going up and down. So for us, it certainly didn’t damage the business. I would probably say if anything it helped.”
Josephine Moulds, The Times