Inccorporated in September 2011, Econo Green Pte Ltd is a reputable supplier of trade lab products focused on being one-stop shop for their clients. Their extensive range is split into four distinct categories; laboratory products, safety and personal protection equipment (PPE), disinfectant products and cleanroom consumables. Further complementing the product line is an experienced service division ready to tackle any production needs from maintenance to alteration or upgrading works.
However, while the growth has been swift, there were several challenges to overcome when the company was first set up before things began to stabilise and grow. The initial six months for Econo Green were particularly tough, with the business facing cash flow problems due to a lack of a stable revenue while trying to secure contracts. In order to address these issues, Caroline aggressively pursued building a strong customer base. She sacrificed sleep and time, juggling the needs of clients, suppliers and company marketing. With persistence and frugal spending, Econo Green was able to overcome what is arguably the toughest test for any new venture.
While good leadership is vital to the success of a business, an experienced director also needs the support of their team for a smooth running company. The team of Econo Green fully understands the needs of their customers and are able to deliver great results on time. Despite their small size, the company is able to offer a total solutions package; merging the capabilities of a multinational company (MNC) with the competitive pricing of a small-medium enterprise (SME). Caroline regards their size as a strength, explaining that smaller businesses have the drive and hunger to do well while holding their reputation in high regard.
When asked what she felt were some of Econo Green's proudest achievements to date, Caroline cites the satisfaction and support she receives from their customer base to be of utmost importance to her. The business policies adopted by Econo Green have helped produce consistent quality results which bring about happy, loyal customers.
In the next five years, Econo Green is looking to expand regionally and seek opportunities out of Singapore. Caroline explains that while business is stable, the niche nature and saturation of the market means that there is little room for accelerated growth. As a result, she has taken to expects to continue with follow-ups and services for their current client pool with a gradual increase with time.
Econo Green's success as a small supplier punching above their weight draws many parallels to Singapore's own story as a david amongst goliaths. Therefore it comes as no surprise that Caroline lists founding father Lee Kuan Yew as a person she feels inspired by. The success of Econo Green comes down to the strong beliefs in what they are doing and confidence in the decisions they make.
For budding entrepreneurs looking to enter this particular industry, Caroline strongly advises building up a strong technical background on the subject matter. It is this knowledge which has enabled her company to understand and address the needs of their clients. As the industry continues to move forward, Econo Green Pte Ltd looks set to continue being a premier supplier for the sector.