NAME: Cash Bases

BUSINESS NATURE: Manufacturer of bespoke cash machines ESTABLISHED: 1981

LOCATION: Newhaven, plus offices in France, Germany and Spain


ANNUAL TURNOVER: £15 million

Newhaven has been hit harder than most by the economic slump.

The collapse of Woolworths left a gap in the town centre that in the recession became like a black hole, swallowing up neighbouring retailers who soon closed as well.

Then Parker Pens ended its sixdecade association with the town when it moved manufacturing to Nantes in France, with the loss of nearly 200 jobs.

But thankfully it’s not all doom and gloom and there is at least one company where the tills are still ringing.

Appropriately enough, Cash Bases manufactures bespoke cash drawers for retailers around the world, including Marks&Spencer and McDonald’s.

The company recently made its two millionth drawer, though the occasion was marked by a determination to look at future growth rather than any back-slapping.

Managing director Philip Stone paid tribute to his staff for helping the firm reach the milestone and said that, unlike many other manufacturers, he has “never even considered”

moving its operations somewhere cheaper overseas.

He said: “We focus on quality products and have excellent staff who have quality stamped through them.”

Cash Bases has enjoyed steady success over the years but, following a management buy-out in 2004, Mr Stone and his team have ramped up its R&D division.

This has led to innovations including a “smart till”, currently being tried out by a major UK retailer.

The unit automatically works out how much cash is in the till, making it easier to check the balance at the end of the day as well as catch staff who may be tempted to steal.

Mr Stone said: “It has the potential to more than doublewhat we are doing in terms of our original business.”

Another invention is technology that Cash Bases has called Zervio. It stops people stealing small, highvalue items such as batteries or razor blades and works by using a card system that only dispenses the item after it has been paid for.

Mr Stone said: “The Co-op in Blatchington Road, Hove, is trying it out at the moment and the manager says it’s amazing.”