Specialist recruitment firm, Staffing Match, based in Hounslow has reported an increase since it started trading in August 2014. RBS Invoice Finance and Royal Bank of Scotland have worked together to enhance the £17million turnover business.
Within a twelve-month period, Directors Michael Gadsby and Salman Iftekhar have launched Staffing Match to compete with European and national platforms as they have established locations in Bristol and Frankfurt.
Staffing Match currently has 22 staff within its UK operations and three employees in Frankfurt. Bristol is responsible for £1.5million in contracts and Frankfurt is expected to earn €3million for the company.
Michael and Salman currently reside in Hounslow and are well known in the local community. They recently won a few Hounslow Business Awards for Best New Business and Entrepreneur of the Year. They have worked together in the industry for a number of years with a proven track record of developing successful employment recruitment companies.
Staffing Match is their first entrepreneurial venture and has produced impressive results as the pair increased their first set of trading results from £4.5million to a reported £17million.
RBS Invoice Finance is supporting Staffing Match’s growth with a £2million Invoice Factoring facility that will enable them to give out weekly payments to temporary staff employees, whilst waiting for payment from their blue chip clients.
The boosting facility from £350,000 is expanding in terms of job opportunities and new locations and allowing them to supply over 900 workers a week. A large proportion of the workers on their books are meant to fulfill temporary contract jobs at London’s major airports, primarily London Heathrow.
Speaking on the pair’s success, Salman Iftekhar, Director at Staffing Match, said:
“Michael and I could not have predicted the success Staffing Match has reported in its first year of trading. We’re really proud of our success at the Hounslow Business Awards. We bring valued skills to the business; both finance and operations. This winning combination is helping the business grow here in the UK and Europe where our clients have a strong need for our services.
“It’s not all about financial support with our banking partners, but more how they help us go the extra mile by tracking our business growth and providing a bigger facility when we need it. We are enjoying the relationship because Staffing Match is on the map and we’ve gained the reputation for being credible providers of temporary employment in the UK corporate market.”
Commenting on the recruitment business’s growth, Stephen Rowledge, RBS Invoice Finance Manager, said: “Staffing Match has become a real success story. My colleague Julia Venn and I are pleased that we could assist them in flexible arrangements on terms that are suitable for their business. We wish both Michael and Salman all the very best as they continue to improve Staffing Match’s expansion.”
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 such a short period of time. We are pleased things are going well and stay close to their business success and support them when necessary.”