Local start-up company on road to success
– First quarter trading off to encouraging start for local start-up business
– GPS Logistics secure DSP contract with large national retailer
– Company supported by RBS Invoice Finance and RBS
The first quarter of trading has got off to a positive start for new Falkirk based logistics company GPS Logistics.
Since setting up in February 2015, the business has increased the number of routes it operates from three to 17, exceeding its annual target of 15 in only three months.
RBS Invoice Finance and The Royal Bank of Scotland (RBS) have provided financial backing to support this new business and its impressive growth.
GPS Logisitics was established by owner Frank Gillespie, after he spotted a gap in the local market for companies offering a delivery service provider function to larger businesses.
Frank Gillespie, managing director, GPS Logistics Limited, said: “I have worked in the logistics industry for over 32 years and have plenty of experience running and managing operations in this area. I decided to set up my own business earlier this year after I spotted an opportunity in the local market and I haven’t looked back since.
“The business is growing quickly and we are establishing ourselves well. The plan for the next ten months is to stabilise the business and its growth, so that I can ensure things are running smoothly before actively pursuing further expansion and additional clients next year.”
GPS has secured a working capital facility with RBS Invoice Finance, which has been designed to support cash flow whilst the business becomes established. The company has also secured banking facilities with RBS.
Frank said: “The support I have received from RBS Invoice Finance and RBS has been unfaltering. Both teams have gone the extra mile to help get the business off the ground and the invoice finance facility is proving to be invaluable in helping us to retain a smooth cash flow. We invoice our customers on a monthly basis but the facility is enabling us to fund vehicle costs and pay drivers weekly.”
Paul McLachlan, business development manager, RBS Invoice Finance, said: “Invoice Finance is an excellent facility for start-up businesses to use as it helps support working capital as a business grows. Frank has a wealth of experience in this industry and we wish him all the best with the development of the company in the coming months.”
David Simpson, relationship manager, The Royal Bank of Scotland, said: “I am pleased that we have been able to support Frank in achieving his ambition of owning his own logistics company. We are passionate about supporting local businesses and start-up enterprises and I am pleased that the service we have developed has helped Frank to get GPS Logistics up and running.”