“But it meant we became masters of our own destiny. We could develop our own products rather than ones the Americans had designed.

“Considering where this business has come from, because when we bought it it was on its knees because of what was happening in America, it’s been quite a remarkable turnaround.”

In 2005, Mr Brackley led another management buyout at Jade, leaving J2 Retail Systems as a standalone business.

The business world seems grim right now, but Boyd says he will not just let J2 sit back and “ride out” the downturn. The company will only thrive, he says, if it keeps innovating and finding new markets.

“We don’t devise these units on our own. We talk to people and see what their requirements are and how the markets are moving.

“As long as we keep on top of that and expand into various uncharted territories then we see there being significant growth for the company.”

alistairhoughton@dailypost.co.uk