Member Article

Entrepreneurial duo drive Hounslow recruitment firm to £17m turnover

Launched in August 2014, Staffing Match has reported £17m turnover with plans to expand, thanks to support from RBS Invoice Finance and The Royal Bank of Scotland.

Within a 12 month period, directors of the Hounslow-based recruitment firm, Michael Gadsby and Salman Iftekhar have grown the 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 £1.5m in contracts and Frankfurt is expected to bring €3m to the company.

Staffing Match is their first joint project and is demonstrating considerable growth as the duo increased their first set of trading results from £4.5m to a reported £17m.

RBS Invoice Finance is supporting this growth with a £2m Invoice Factoring facility, allowing 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. “

Michael and Salman, who live locally in Hounslow, were recently received recognition as Best New Business and Entrepreneur of the Year recognition at the Hounslow Business Awards.

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.”

This was posted in Bdaily's Members' News section by Ellen Forster .