Bill Lynch

History of formation of Irish businessman Bill Lynch, - the winner of competition of the international business. Stages of development of the small South African auto dealer and his transformation the huge company having business on three continents.

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Bill Lynch

In 2006 an Irish businessman Bill Lynch became the winner of the international business competition, which was held by an audit consulting firm “Ernst And Young”. During 30 years despite economic and political obstacles he managed to transform a small unprofitable South African auto-dealer into an enormous company having its business on three continents.

The Irishman Bill Lynch arrived in South Africa when he was 27 years old. Bill Lynch held his childhood in a house without a telephone and running water, by the way he gave up his studies at school for the job of a seller of cars. Before his departure in South Africa Bill worked as a director of small service stations in Dublin. "I realized that in Ireland I would never succeed, that's why I decided to look for happiness abroad” - Lynch said. - “Australia was too far away, and Canada was too cold. So I chose South Africa." It was unreasonably to rely on fast career in Europe or America - the competition was too high. In the contrary, South Africa seemed a very friendly country in those days.

After arriving in Johannesburg with 2000 pounds in his pocket, Lynch began his career in a small company which sold cars and where there were about fifty people. This company with the imperial name of “Imperial Motors” incured annual losses of $ 15 000. The owner Percy Abelkop wanted to hire an administrator with the degree of MBA (Master of Business Administrtion). Instead he found a "specialist with some experience, enthusiasm and recklessness of youth."

However, Lynch wasn't ready to agree with the latter definition. He realized that Johannesburg was one of the largest transportation centers in Africa, and believed that the auto business would soon bring real money. Lynch understood that the company's losses were caused by heavy trading conditions which formed between Imperial Motors and American suppliers, in particular Chrysler. He offered to switch over to smaller trucks of production of the Japanese Toyota. This decision turned out to be very farseeing. In times of economic embargo of 70-80's Toyota continued its delivery. Of course, as in any country, there were people who treated foreigners with distrust. But thanks to Bill's intelligence and friendliness, Bill proved that he could be respected and trusted by all the team.

Lynch says that in 1973 the oil-producing countries dramatically cut oil supplies to South Africa and gasoline prices soared. Everyone said that the car business in Africa would come to an end. Banks refused to lend money to the company and it was hardly struggling to make ends meet. The company managed to survive through dramatic cost reduction and total renunciation of bankers' services. In this difficult situation Lynch was able to buy 10% of stocks of `Imperial Motors”. He spent all his savings for this aim, but he got the right to vote and was soon appointed as a managing co-director of “Imperial Motors” (with the son of the company founder Stephen Abelkop).

But in the new conditions the company needed a new strategy. Lynch suggested that the company had to switch over from selling of cars to the provision of car services: rental cars and trucks, logistics and leasing. Business began to improve and it became very profitable. By 1987 “Imperial motors” had been so strengthened that it decided to place its shares on the local stock exchange. Issue price was $ 0.09. And now stock quotes of “Imperial” Holdings on European stock exchanges rarely fall below 21 euros.

In the late 90's “Imperial” had the transport logistics area of the German steel giant Thyssen Krupp and then managed to enter the European and American markets aviation leasing. Now holding of “Imperial Motors” consists of seven units: integrated logistics solutions, fleet management, leasing vehicles and forklifts, aviation operations, sales and leasing, car rental and tourism, import vehicles, sales and after sales service and related financial services. In the firm's offices on three continents more than 36000 people work, and an annual turnover exceeded 6.5 billion euros.

According to above-stated facts, Lynch is an exemplary businessman. He started from scratch and for 30 years he has created a business that has a tremendous positive impact on modern life in South Africa. This effect is achieved not only through the creation of new jobs, but also because of the numerous social projects, which “Imperial Motors” constantly implements.