Building an empire, one job at a time
With combined experience of over 10 years in both temporary and permanent IT recruitment, the directors of our client felt it was time to set up by themselves. Starting off in the dining room in one of their houses, the company increased its turnover by 100% but were spending too much time chasing invoices, re-issuing invoices and getting headaches. They decided to take action and approached Regency regarding our invoice finance facilities.
The support of Regency has allowed the business to expand to such an extent they are looking to recruit an office administrator and sales executive. This expansion has allowed the business to take advantage of the hiring spree that has been taking place over recent months. With over 379,000 jobs created in July 2017 alone and unemployment falling to a 42 year low of to 4.3%, this has been an important time for the business.
Laura Ramsden of Regency Factors said:
“We have worked with many recruitment companies, so we understand the business model and needs of working in the temporary contract market.
“Our new client is an excellent business being held back by the funding gap. With a committed management team and a strong client base, I could see the potential for the business to grow and had no hesitation in offering them an invoice finance facility.”
Commenting on their new finance arrangements the managing director said:
“Regency have been supportive and communicative throughout the take on process and I always speak to the same person for advice. The invoice finance facility has provided us with the flexibility to further develop the service we are able to provide to our clients.
“As well as supplying temporary cover during our clients’ busy spells and supporting them with specific projects, we can now also provide staff for holiday cover, maternity leave and long-term sickness.
“Having the money paid upfront has taken the pressure off so we don’t have to spend half our time chasing invoices and can get back to what we are best at, which is recruitment.”