Founded in 2019, SYBX Group specialises in consulting and technology development for businesses active in procurement and supply chain management. CEO and founder Dennis Rossbach shared his founder story with us.
Becoming an entrepreneur is not for everyone. But for those who make it, the pleasure of owning your own business appears to justify the struggles they had to endure to arrive at their goal.
“For me, the main reason I wanted to become a founder and have my own company was because I wanted to be free to make my own decisions,” says Dennis Rossbach.
This realisation came to Dennis soon after he had started his working life. Stuck in an office job where he had little flexibility or input, he put his mind to finding a way out of this lifestyle. His solution: becoming an entrepreneur.
“Soon after my first internship, I realised, this is not the thing I want to do for the rest of my working life. So, I said to myself: okay let’s give it a try. That’s why, in 2016, I founded my first business, an online shop for car care products,” explains Dennis.
While his first business did not work out as planned – “I learnt that you have to work with the tax department and do everything on time and properly” – Dennis did not let his failures get in the way of trying again. Keen to get back on his feet, he founded SYBX Group in 2019.
“I had been working in procurement for 11 years and worked with clients such as Accenture and Rolls Royce so I considered myself an expert in this field. I had also worked on diverse digitalisation projects, so I knew I could also do this work by myself,” says Dennis.
Moving to Luxembourg in 2019, he remarks that having been a member of the LHoFT “really helped with the support and the whole ecosystem was really great to start your own business”.
Things were looking good for SYBX until a few months into the pandemic when business completely halted and forced Dennis back to the drawing board. The pandemic, of course, put businesses worldwide into difficult financial situations, but for a fledgling startup times were even harder.
“For nine or ten months, business was at a complete standstill and I had to reevaluate how to move forward. All I knew is that I wanted to keep my company going, so I did everything necessary to keep it alive. Being really resilient by nature as well as the support from family and friends really helped me in this tough period,” explains Dennis.
A few months later, in April 2021, “everything went belly up like a rocket” and he’s been getting so many projects in procurement IT consulting that he’s had to hire another employee and is even considering hiring a second one.
To broaden the scope of his services, Dennis also released an application which automates suppliers’ onboarding process. Furthermore, with the Supply Chain Act being rolled out soon in Germany and after that in the whole of the European Union, his new application will simplify regulatory compliance.
Now that starting his own business worked out, Dennis is keen to hire new employees and “give younger people, especially those who didn’t go to university, like me, a chance to succeed.”
