.png)
Hackney Entrepreneur Turns Trash into Treasure for UK Businesses
Hackney Citizen - October 01, 2008
Most of us don’t give trash a second thought once it hits the bin, but for Philip Mossop, trash is big business. As cofounder and development director of Shoreditch-based Intelligent Waste Management Solutions (IWMS), 28-year-old Mossop takes trash out of landfills and puts cash back into the pockets of rubbish-weary businesses across the UK.
What’s so intelligent about throwing away garbage? More than you’d think, particularly for retail businesses like cafes and coffee shops who generate vast amounts of trash every day. Unlike the old days, you can’t just put rubbish into a bin liner and ship it off to the landfill. Mossop estimates that around 60% of this trash can be recycled. UK law complicates matters. For example, landfill tax is set to rise at 32 percent a year over the next 5 years creating higher costs for businesses.
The cost of trash tied with mounting pressure to ‘go green’ makes it imperative that businesses divert as much of their rubbish from landfills as possible. Still, separating the trash and getting the right trash to the right place is a headache for most businesses. This is where IWMS comes in.
Phillip Moss, who also owns Bacchus restaurant on Hoxton Street, spent seven years in the waste management industry before starting IWMS in May 2006. He noticed that many businesses were not aware of their environmental obligations, nor did they realize that there was money to be saved in going green. “There was a niche in the market not enough being done to offer a full solution,” he says.
This full solution includes legislation advice and end-to-end waste and recycling management, from rubbish bin to processing plant. Largely due to its recycling activities, his “integrated” approach allows IWMS to operate at around half the cost of its competition. Since its launch, IWMS has grown to £13 million in 2 years and is likely to surpass £30 million by the end of this year. Philip explains that the key to IWMS’s success is in listening to its clients, who include Cafe Nero, H&M and Allied Carpets. “This means we can understand their needs rather than forcing a solution on them,” says Mossop. “IWMS rises against the competition by building trust and a working relationship with our clients.”
Mossop, who has lived in Hackney for 8 years, was recently voted Best Young Entrepreneur of the Year in the 2008 Mayor of Hackney’s Business Awards. He notes that Hackney is starting to pick up steam as a centre of excellence for business and entrepreneurship. “It provides a great working environment,” says Mossop. “Hackney is a thriving multi cultural area providing great industry, inspiration, fashion and people. Hackney inspires creativity, which is what IWMS is all about.”
IWMS is an indication that new and exciting business initiatives are happening in Hackney, and may suggest positive things to come for other Hackney-based entrepreneurs. Philip’s advice is simple: “Plan it properly and entirely and then make sure you do it. Don’t just talk about it, do it.”
For more information about IWMS, visit http://www.iwmsuk.com/.