Award winning recruitment firm reports fast growth | Royal Bank of Scotland

Award winning recruitment firm reports fast growth

2nd December 2015 - An ambitious recruitment firm based in Hounslow, Staffing Match, is reporting impressive growth since the business started trading in August 2014. RBS Invoice Finance and Royal Bank of Scotland have worked in partnership to enhance this £17million turnover business.
 
Within a 12 month period, Directors Michael Gadsby and Salman Iftekhar have grown this new business to compete on a national and European platform as the entrepreneurs establish themselves in Bristol and Frankfurt. The company employ 22 staff within its UK operations and three staff at its new German location. Bristol is responsible for £1.5million in contracts and Frankfurt is expected to bring €3million to the company.

Michael and Salman live locally in Hounslow and are well known in the local community, most recently for their Best New Business and Entrepreneur of the Year recognition at the Hounslow Business Awards. They have worked together in the industry for a number of years with a proven track record of growing recruitment companies.

Staffing Match is their first brainchild and is demonstrating impressive results as the duo increased their first set of trading results from £4.5million to a reported £17million.

RBS Invoice Finance is supporting this growth with a £2million Factoring facility that will allow Staffing Match to pay their temporary staff on a weekly basis whilst waiting for payment from their blue chip clients. The increased facility from £350,000 is facilitating expansion in terms of jobs and new offices and allowing them to supply in excess of 900 workers a week. A large proportion of the workers on their books is allocated to fulfil temporary jobs at London’s major airports.
 
Salman Iftekhar, Director at Staffing Match, explains:
Michael and I could not have predicted the success Staffing Match has reported in its first year of trading and our recent business award wins are testament to this. We bring valued skills to the business; both finance and operations. Combined, this is helping to rapidly grow the business both here in the UK and Europe where our clients have a need for our services.
It’s not all about financial support with our banking partners, but more the extra mile they go to track our business growth and provide a bigger facility when we need it. The relationship we are enjoying is helping us put Staffing Match on the map as credible providers of temporary labour in a corporate market.

Stephen Rowledge, RBS Invoice Finance Manager, said:

Staffing Match has taken everyone by surprise and is a real success story. My colleague Julia Venn and I are pleased we could provide a flexible arrangement on terms that suit the nature of this business and we wish both Michael and Salman all the very best as they continue to drive business growth.

Joe Hilson, Senior Corporate Manager at Royal Bank of Scotland, added:
Working with Michael and Salman is rewarding to see a company rapidly expand in a short space of time. We are pleased things are going well and we will endeavour to stay close to their business success and support them where necessary.

Left to right: Joe Hilson (Royal Bank of Scotland), Salman Iftekhar (Staffing Match), Michael Gadsby (Staffing Match) and Stephen Rowledge (RBS Invoice Finance)

 

 

Working with Michael and Salman is rewarding to see a company rapidly expand in a short space of time. We are pleased things are going well and we will endeavour to stay close to their business success and support them where necessary.

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Invoice financing services are provided by RBS Invoice Finance Limited. Registered in England No. 662221. Registered office: Smith House, Elmwood Avenue, Feltham, Middlesex TW13 7QD

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