Serving up the right candidates for the right vacancies is a priority for Check Hospitality. As a trusted recruitment agency, they have been leading the way for those wanting a career in the hospitality industry since 2013.
Here, Managing Director, Andy Wilson, explains how the tailored recruitment factoring facilities have enabled his business to grow after turbulent times, bring financial stability and eliminate the pressures and stress of running a successful recruitment agency.
Just over a year ago we were faced with a serious problem; one of our key clients went bust. This left a massive hole in our cashflow and working capital reserves. Not only was it a threat to our business financially but it also posed a real threat in keeping the highest calibre candidates on our books, and thus retaining our remaining clients. We needed to manage the day to day operations to keep afloat yet we needed time, and money, to build the business back up.
The biggest challenge we faced was continuing with our day to day operations; continuing to provide high quality candidates to our existing clients. However, advertising, administration etc., all comes at a cost; and when your cashflow has been massively dented it can be difficult.
We also needed to invest huge amounts of time in rebuilding the business; to find new clients to replace the black hole that had been left.
Calverton Finance were introduced to us via a broker when we were looking at finance and funding options.
Calverton offered us a payroll funding and recruitment invoice finance facility. It meant that we could advance monies on our issued invoices and take payment straight away. The ‘full pay and bill’ finance facility has freed up all my time and reduced all the stress of waiting for payment. As a result, we’ve reduced our debtor days from 60 to under 30 days – we’ve got Calverton to thank for that. I have financial stability and peace of mind now.
The facility was set up extremely quickly, so immediately it took away the constant fear and worry I had been feeling.
Calverton take care of everything. The team are amazing – it’s important when you’re running a business. You need to know they are invested in your business. Calverton are invested, they are behind us; and to me they’ve been an amazing soundboard!
We now have the full back office facility from Calverton. This has turned our business around – a real life saver in fact.
Having this back office recruitment finance frees up, easily, a day and a half a week for me to concentrate on growing the business. I can focus on being proactive and reactive within the business. As the MD this is critical to our success.
The biggest benefit to our business is the collections and retention of PAYE and VAT through the facility. Calverton have all the monies put by so when our HMRC commitments are due we’re fully up to date. This is a huge relief and I don’t even have to think about it anymore as I know it’s all taken care of – no nasty surprises, no unexpected bills to meet.
As a result of having Calverton Finance on board we have not only recovered from losing a key client but we have grown and expanded. We are thriving as a business – the future’s bright!
I urge any recruitment agency to talk to Calverton.
Andy Wilson | Check Hospitality