Finance specialist helps recruitment firm thrive
A recruitment company, which is finding local jobs for hundreds of local people, is thriving despite challenges presented by the Covid-19 pandemic after adopting a new invoice finance structure.
Advanced Recruit – which specialises in supplying staff to the construction, engineering and manufacturing industries – has improved its cash flow and capital funds with the support of Contact Business Finance and has plans to recruit more staff at its Wolverhampton office.
Bobby Russell, managing director of Contact Business Finance, said: “It’s been great working alongside Chris, and seeing his business evolve and grow as he’s adopted a new financial structure is really satisfying.
“We specialise in the world of invoice finance and help businesses grow by sourcing the best factoring and invoice discounting facilities available in the market. Most importantly, we understand how important cash flow is to a business and we only work with lenders that appreciate the on-going demands that business owners face.
“A lot of businesses are in survival mode and government backed schemes such as CBILS and Bounce Back Loans have now ended. It is crucial that business owners realise that there are alternative funding solutions out there.
“Using a finance brokerage allows business owners to not only get the best deal, but also saves them time as they can speak to the most suitable lenders from the outset. Our service is going to play a huge part in the recovery and survival of many businesses. It is vital that business owners are aware that such facilities are available and flourish in such times, just like Advanced Recruit have done.”
Chris Williams, managing director of Advanced Recruit, said: “The level of support I have had from Contact Business Finance has enabled my business to grow in extremely challenging times, including Brexit and the pandemic. We have been able to place local people into local jobs and trade with companies in difficult circumstances.
“After two years in business I’m pleased to say that with their support we have evolved again to a new invoice finance structure which has given my business a huge improvement in cash flow and capital funds and given us the opportunity to purchase the top recruitment technology and redevelop our website.
“We are now placing a higher level of work seekers into roles and even have plans to take on one or two apprentices in the near future.”
He added: “I have been in the recruitment industry for 12 years and set up Advanced Recruit two years ago. As a new business owner you have a checklist of things you need to get done and, although I researched everything, I definitely underestimated how important invoice finance is to a recruitment business.
“Any recruitment start-up will tell you a huge challenge is knowing your workers are going to get paid on time, and also that you are able to trade with your clients efficiently. Using Contact Business Finance has allowed me access to do such things within my business.”
