Farley & Jones Recruitment Ltd has been a client of Skipton Business Finance since it was established in January 2018. Within this period, the business has seen rapid growth in turnover, employee numbers and office locations. The business has reported a £3m turnover in its first year of trading, with its sights now set on £10m for next year.
Background
Farley & Jones Recruitment was established in January 2018 by business partners Billy Farley and Tom Jones. With offices in Tamworth, Corby and Rugby, the business specialises in suiting candidates to vacancies in the industrial, skilled & technical, commercial and driving sectors. The business offers both short-term and permanent vacancies to candidates in these sectors. The business also owns a secondary company, Farley & Jones Staffing Solutions.
Managing Director and co-founder Billy Farley, told us how a friend had used Invoice Finance and suggested that it would be beneficial for Farley & Jones.
Aim
As the business was newly established, it was important that is was able to pay for things such as staff wages and office space when they began trading. An Invoice Finance facility meant that the business could pay for these before receiving customer payments. This meant that Farley & Jones could get a good head start in the industry without late payments holding them back.
How we helped
By running an Invoice Finance facility, the business has been able to take on more employees, increasing their team of three to 15. Headquartered in Tamworth, the business now has offices in Corby and Rugby and has 400 workers out daily.In addition, Farley & Jones has just recently landed a large household courier as an on-site provider and constantly adding to their client base.Last week, the business also reported a record week of £168,000 in turnover and have set their sights on a £10m turnover for next year. Their aspirations also focus on looking for a potential fourth location in the future.
Speaking of the relationship with Skipton Business Finance, Mr Farley said “Our partnership with Skipton has allowed us to expand at a very fast rate since establishment and within this period, we have developed a great working relationship with them,”“With Skipton, it feels like a partnership rather than us just being seen as a client.”“We have worked with other Invoice Providers and with Skipton it feels like we are dealing with a level above.” Mr Farley added.
Dan Iwanczuk, Relationship Manager at Skipton Business Finance, said: “As we have supported Farley & Jones since their commencement in 2018, it is pleasing to see their rapid success and to know that we have played our part in helping people achieve their goals.”
Closing your cash flow gapAn Invoice Finance facility can help your business plug the cash flow gap. It can allow your business to work efficiently and productively, without the worry of a lack of funds. Invoice Finance allows you to gain access to your unpaid invoices without waiting 30, 60 or even 90 days for your customers to pay you.
You can choose from Invoice Factoring where we look after the credit control process for you or, alternatively, Invoice Discounting where you are in charge of the credit control process.
If you would like to find out more information regarding our Invoice Finance options, please email info@skiptonbf.co.uk or alternatively call 0800 0854150.