Automotive recruitment firm drives to growth

Gateways Recruitment 1000x633

Business:       Gateways Recruitment Ltd
Location:        Huntingdon
Sector:           Recruitment
Funding:        £500k
Turnover:       £3.4m

As an individual with over 20 years of experience in the recruitment sector, Mark Ambler founded his second recruitment business, Gateways Recruitment Ltd., in 2012 . As specialists in automotive, manufacturing and services recruitment, Gateways Recruitment now provides staffing solutions to specialist industries, which manufacture parts for large automotive businesses such as Jaguar Land Rover.

The way Mark and Gateways Recruitment operate adds a unique aspect to the conventional take on the industry. Brexit fears have driven Gateways Recruitment into sourcing skilled staff from the European Union directly, as a result of the high shortage of workers and a hesitancy of many EU residents to make their way to UK shores following the vote on 23 June 2016.

Back on home soil, Gateways Recruitment’s approach to recruitment continues to defy convention. Focusing on customer service, the firm assesses each company’s needs with regards to staff provision as a form of consultation. Mark places the success of Gateways’ growth down to word-of-mouth, and does not invest in marketing.

Due to the nature of the recruitment industry and the payment structure of his debtors, Mark receives payment in 60-90 day windows. Such payment practices began to cause issues with cashflow, leaving Mark unable to pay outgoing payroll, and it was at this point that he turned to Bibby Financial Services.

Providing an invoice finance facility, BFS now fund Gateways Recruitment’s invoices freeing up cashflow from unpaid invoices. The company’s funding line of £500,000 has enabled the business to continue daily operations without experiencing cashflow shortfalls.

Although Gateways Recruitment are new to Bibby Financial Services, Managing Director, Mark Ambler, has been a customer of BFS in the past with a previous company and valued the funder’s relationship-based approach.

Explaining his choice to return to BFS, Mark said: “Having previously used Bibby Financial Services in my former business, I knew that I couldn’t operate with the large gaps between the payment windows from my debtors without a form of invoice finance in place. With potential new contracts on the cards, we’re eager to continue our success in the recruitment sector and increase our job portfolio.”

Ian Betteridge, Business Development Manager, Bibby Financial Services commented: "We’re delighted to be working with Mark once again, this time with Gateways Recruitment. We understand Mark’s cashflow structure and can accommodate and tailor payments to his business needs, especially as Gateways Recruitment is set to capitalise on the shortage of skilled haulage workers in the UK in their current recruitment drive. By filling the gaps in cashflow, BFS is able to fuel the day-to-day running of Mark’s business, enabling him to clear his payroll outgoings.”

Mr Ambler further explains: “With over 20 years in the recruitment industry, I’m aware of the invoice payment windows that the industry works to. I was looking for a funder that could thoroughly understand my industry and BFS undoubtedly has extensive experience in recruitment financing.

“Now that invoices are no longer a hurdle, we can focus on expanding our overseas activity and growing the business.”

Commenting on the EU referendum, Mr Ambler added: “Brexit has brought about tremors in the manufacturing, haulage and automotive sectors and restructuring the business strategy accordingly has been vital. We now source skilled workers from European countries in order to cope with the demand, a practice which Gateways Recruitment are looking to progress in the near future. As we attain more business through our recruitment drives, the necessity of BFS’s invoice finance cashflow solution is ever more apparent.”