Peter Smith, Founder Director – Q&A

Q. Looking back to when you started the company in 2001, what was your vision?

A. Our vision was to create a straightforward business and become known as an approachable contractor, one that can be trusted to deliver projects to a high standard, every time.

Q. And how does it feel today, now Open Contracts has been in business for 24 years?

A. It feels amazing – we’re now a team of 21 people with 140 trusted subcontractors and a turnover of £18m – and I am very proud of what we have achieved to date.

Q. What were some of the toughest challenges in those early years?

A. We’ve had a few challenges along the way. We started the business in a recession, which was interesting, but like any business we’ve learnt to adapt and change the way we work to ensure our continued success.

Q. Stepping back as Managing Director must be a real change, how do you feel about it?

A. It’s the right time for me to step away from the role after 24 years and it’s the right time for the business too. Matt is the perfect choice for our next Managing Director, and I’ll be there to support him in my new role as Founder Director.

Q. The office and industrial refurbishment industry has clearly changed over the years. What shifts have had the biggest impact on the business?

A. The world of office refurbishment and fit out has changed significantly since the pandemic, not only did this period in history result in real change in the way people worked in offices, but it also changed the way people engage with one another. I’m pleased that we’re finally seeing a return to more collaborative and in person ways of working now.

Q. What do you see are the biggest challenges and opportunities in the industry right now?

A. The biggest challenge for us must be the economy, which isn’t just impacting our sector. I remain hopeful that we will see a return to growth in the UK and that when we do, the commercial office world will start to move once more.

Q. What’s your leadership style, and how has it evolved over the years?

A. You should probably ask the team that question! I’d describe my leadership style as relaxed, honest and open. I don’t think it’s changed much, but again others may disagree.

Q. If you had one piece of advice to give someone starting a business in this industry, what would it be?

A. That’s a difficult question as the world has changed a great deal since we started Open Contracts. But I think my advice would be to stay focused on what you do well, stay true to who you are and always treat others with respect.

Q. What excites you most about this next chapter for both you and the company?

A. For me it’s the opportunity to support the next generation of management in their leadership of the team, to help them grow the business beyond where it is today, and to remain involved in a business I’m both passionate about and incredibly proud of.