Relationship is the key

Relationship is the key

Flexibility of the funding partner is the key when choosing a facility
Hilton-Baird Collection Services
Relationship is the key

Since inception in January 2011, Bristol based recruitment specialist Finley George Recruitment Ltd had experienced much success in placing permanent key and management staff, with salaries ranging from 25k-100k per annum, in call centres around the country.

On the back of their success, Managing Director, Greg Oakes expanded the company’s offering to encompass more junior roles. This increase in services saw many clients approach them in search of temporary staff.

As demand increased, Finley George Recruitment Ltd found that cash flow was preventing them from reaching their potential growth - particularly given the short time the business had successfully achieved significant growth within. Funding the payroll and the operational elements to run the back office and pay the contractors became a nice challenge to have, but nevertheless a real challenge to the business’ ability to freely grow to its potential.

Given this, Greg made the decision to free his business from these unnecessary shackles and start to look for a suitable funding solution to help enable him to grow his business in line with their potential.

The expert team at Hilton-Baird Financial Solutions worked closely with Greg to establish exactly what the needs of the company were, as well as elements which would help the management team to focus on their key strategy, in this case strategic growth, which is quite a feat given the current financial climate. This enabled Hilton-Baird to effectively match our client with the appropriate options and ultimately the most suitable funder.

Greg said: “Hilton-Baird really took the time to listen to our requirements and understood where we came from and where we are driving our business to. I was given all the necessary help and support and my broker was always at hand to answer any questions or queries I had. I felt supported but ultimately I was in the driving seat and made the decision I saw fit for my business. Hilton-Baird only had one interest, my business’ best interests.”

After gauging what facility would best suit Finley George Recruitment Ltd, Hilton-Baird introduced two suitable funders with Greg opting to go with a recourse factoring facility, with payroll and back office support, provided by Team Factors.

Since the commencement of the facility, the business has seen a magnificent level of growth. From starting up, the placement of temporary contract staff is currently running up to £50,000 per month.

Greg continued: “Team Factors came across as reliable. Having initially met them, I immediately felt comfortable entering into a relationship with them, which was paramount. Additionally the facility they tailored to our business ticked all of our boxes.

“I’m very pleased that I was in contact with Hilton-Baird when searching for my facility as it is unlikely that I would have found Team Factors without them, as it’s not a name I was familiar with or many would associate with cash flow finance, but Hilton-Baird listened to my needs, understood my challenges and delivered what I wanted. I would suggest to other businesses looking for cash flow support to talk to these experts and they will find you just what you need.”

Reflecting on the new facility, John Shulman, MD of Team Factors Ltd, said: “We are delighted to be working with Hilton-Baird Financial Solutions to provide solutions to Finley George Recruitment Ltd. They have facilitated our provision of cash flow and services to Greg and his team. The relationship enables them to concentrate on getting the business moving forward and leaving the cash flow, payroll and credit control to us.”