Martin McCloskey, founder and chief executive of Western Building Systems, Coalisland, Co Tyrone

What’s the most unique thing about your business?

We do it all ourselves. We’re a construction company but we manufacture the main components of the buildings ourselves in Tyrone. That makes us more competitive as we don’t have to buy in all the various trades. It’s valuable from a cost, but also from a supply, point of view. Because we’re not as reliant on suppliers, which can cause delays, we can work to stricter deadlines.

What was the best piece of business advice you ever received?

Never spend what you can never see to repay, that would be the biggest thing. My father was a farmer and he had always advised me of that. In boom times and in bust, I’ve carried that throughout.

What’s the biggest mistake you’ve made in business?

I’ve made plenty of mistakes but one was a disaster. I did a swap deal with a person to build them two homes in exchange for some land. I did it at a time when the land was of some value but then agricultural land prices fell to pieces. I’d never do anything like that again. Keep each deal separate. Sometimes you have to pay to learn.

What would you say your major success has been to date?

It was delivering my first design and build school in Lucan eight years ago. It wasn’t a great moneymaker but I gained a lot of experience. The other was we delivered a hospital unit from Tyrone, across the channel into Scotland.

Since then, we’ve probably worked in all the major schools and hospitals. The spin off from the job in Lucan has been about £50 million; the hospital project in Edinburgh has had a spin off of about £30 million.

Who do you admire in business and why?

I’ve always admired Michael O’Leary and Richard Branson – their entrepreneurial spirit and how they believe there is no limit to what you can achieve. Their drive and enthusiasm is brilliant. They seem to be able to take all their employees with them and I’d hope I’d display the same determination in taking Western forward.

Do you think the banks are open for business to SMEs at the moment?

I’ve been with the same bank since I set up my business 30 years ago and my experience has been very positive. It’s coming back to relationships again.

A few years ago, you couldn’t get a direct phone call with your bank manager; you had to go through a call centre. Now I find those barriers are breaking down.

For new businesses though, I think it’s very difficult to get into the banks. They need to change their thinking towards new small business customers.

What’s been the biggest challenge you’ve had to face?

We started off as a small, family business and thankfully we’ve won contracts, sometimes against larger competitors that prove we can deliver world-class construction projects. We still face the perception of being the outsider though, of being a small contractor. That perception is a challenge we’re taking on at the moment.

If you were to give a piece of advice to the Government to stimulate the economy?

I’d say listen to the people and get them involved. Get more engaged with small businesses and make it easier for them to compete in tenders. When it comes to tenders in the South though, the Government is way ahead of the UK and Northern Ireland in how they procure and deliver projects. They’ve really streamlined costs.

How do you see the short-term future for your business?

I want to consolidate our position in the education and health sector and move more into mainland UK. We’ve won a four-year government contract worth £30 million in the UK. I see a small recovery in the housing market and we are probably still in position to sell a house a week in the Tyrone area. We continued to do that even through the recession.

What’s your business worth and would you sell it?

I’d imagine the business is worth about £20 million. I’ve no plans to sell it. My son and daughter are working in the business and we have a great board of directors. We’re really up for the challenge of moving forward ourselves.

In conversation with JOANNE HUNT