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Business in Vancouver January 4-10, 2005; issue 793
Richard Gibbs
Owner, Neutron Technologies
Age: 34
Richard Gibbs used his training as an electrician and his daring as an entrepreneur to build Neutron Technologies to 28 staff and about $2.5 million in annual revenue.
He founded Neutron in a 2,600-square-foot office in Surrey in 1999 with partners Dave Szabo and James Gibson.
Within three years, the trio had grown annual revenue to $3.5 million and they had attracted media attention. Profit Magazine named them as one of the Top 50 up-and-coming companies in Canada.
Customer growth came at a dizzying pace and soon Neutron had more than 370 Lower Mainland clients. That forced Gibbs and his partners to relocate to half of a 20,000-square-foot warehouse on Annacis Island, where they intend to eventually take the entire space.
Neutron helps manufacturing companies streamline operations through automation. One recent job saw Neutron install an Andres Wines filling machine for its bottling line.
"Neutron places machines on the floor, hooks up electrical pneumatics, water and integrates them with the rest of the machinery," Gibbs said.
Along their path to success, Gibbs and his partners made some tough business decisions. They grew to 35 staff in their original facility before streamlining operations and cutting seven staff to help finance their move.
Gibbs believes Neutron's fortunes will rise in sync with the Canadian dollar because enhanced price competition will force companies to automate, he said.
He is targeting $4.7 million in annual revenue by the end of 2005 as companies outsource maintenance and other electrical work.
"Companies don't want to concentrate on or understand what kind of computer is running their machines or what kind of motor is running machine belts," he explained. "They want to make their waffles or cookies or bricks and focus on that core business."
Profession you would like to try: Restaurant owner
Where do you feel most comfortable? Home with wife Nadine
Favourite movie: Goodfellas
Currently reading: The Da Vinci Code by Dan Brown
Toughest decision: Putting my neck on the line to found a business
Car: 2003 Ford 4 by 4
Would most like to meet: Bill Clinton
Born: Huntsville, Ontario
Last CD bought: Tourist, by St. Germain
Education: Electrical apprenticeship at Calgary's SAIT
What's left to do: Travel through South America
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