Nelson Recruitment goes from strength-to-strength with funding in place
Business: Nelson Recruitment Services
Funding line: £350 thousand
Turnover: £2 million
Birmingham based start-up Nelson Recruitment Services Ltd has tripled its monthly turnover since it started eleven months ago, after securing funding from Bibby Financial Services (BFS). The business began trading in November 2013 and has since seen rapid growth with a projected turnover of £2 million in its first year.
The agency recruits staff across the Midlands for the industrial, engineering, logistics and manufacturing sectors with around 80 per cent of work based on placing temporary staff and 20 per cent permanent staff. This includes frequently required roles such as HGV drivers, warehouse operatives and fork lift truck drivers. The business has an expanding customer-base, currently boasting 50 clients and over 200 individual workers on its books.
The business was started by managing director Paul Nelson, who after ten years’ experience in the recruitment industry decided to set up his own firm as he believed he could provide a better service to customers.
Paul commented “After seeing the good, the bad and the ugly sides of recruitment, my experiences had left me discouraged at the quality of people in senior positions at certain agencies. It’s for this reason I took the decision to set up on my own, giving myself total control over the quality of workers, quality of service and ensuring the workforce were paid correctly and on-time.”
Having started out alone, Paul now employs three additional members of staff and has plans to employ two more staff in the New Year. The business is also opening two new branches in the Midlands over the next two years to further service the region.
“The current market place in the Midlands is booming thanks to big businesses such as Jaguar Land Rover who provide jobs and use many local suppliers,” continued Paul.
“Due to the growth of the economy as a whole, we have seen a positive impact in the region with people earning more and therefore spending more. The jobs market, which is particularly close to my heart, is also showing signs of improvement.”
“My business has seen significant growth over the past 10 months. However without the funding arrangement we have with Bibby Financial Services, this would not have been possible. The invoice financefacility they provide us with is imperative to our success. We are now able to easily keep on top of our weekly payroll, which ultimately means people get paid on time.
“Invoice finance allows us to have a steady flow of cash to keep up with an industry that demands a flexible funding arrangement.”
Paul has worked with Bibby Financial Services since the business started trading in November 2013, and invoice finance is the only form of funding that the business uses.
Sharon Wiltshire, Managing Director at Bibby Financial Services West Midlands says “Nelson Recruitment Services is a great example of the impact the right funding choice can have on a business from the very start. The business has seen impressive growth in the 10 months it has been trading, and we have already increased funding from £100k to £350k.
“Leveraging the flexibility of invoice finance has given Paul and his team a great start and the business’s growth looks set to continue well into the future.”