Watton Recruitment

With aims of providing honesty, loyalty and respect, Watton Recruitment are a diverse recruitment agency placing candidates into roles such as; Engineers, Cleaners and PA's.

"Thanks to Calvertons' invoice finance, I didn't need to commit to a loan and costly repayments."

The Problem...

You’ve got a business start-up idea. You need funding, but not a loan that will run out; and anyway, who’s going to lend hundreds of thousands of pounds to a start-up business?

Well, these were exactly the thoughts running through Philomena Watton’s mind when she was in the throes of setting up her recruitment agency.

The Challenge...

“To gain a real foothold in the market I needed to be able to attract the right workers in a variety of fields; as well as being at the forefront of my customers’ minds. That involved cashflow, and one of the biggest challenges was how I would have the cashflow to pay the contractors each week.”

The Solution...

Thankfully, Philomena looked outside of the traditional ‘funding’ box and looked at the UK’s most popular form of alternative finance – invoice finance – and the rest, as they say, is history!

“I could have hit a major stumbling block on the first hurdle when setting up my recruitment business - £500k funding for a new business. Yet, thanks to Calvertons’ invoice finance, I didn’t need to commit to a loan and costly repayments. Instead, their invoice finance allowed me to have immediate access to the monies I was owed by my customers, in advance of them settling their invoices, to pay my contractors, as well as the other day to day overheads.”  

“Invoice finance has given me the guaranteed cashflow and working capital to advertise, recruit, tender and expand; as a result, I have grown our customer base impressively. Invoice finance allows me to make financial commitments in line with the rate of my growth, without any risks or giving up personal assets as collateral.”

“Ultimately, invoice finance has given me complete control over my finances and growth.”

“The facility allows my business to grow in a way that allows me to maintain my high levels of honesty and loyalty without compromising any growth opportunities or principals – that’s why, five years on, I’m still using Calverton’s invoice finance facility.”

How It’s Achieved...

Philomena will issue an invoice to her customer, she also copies in her client management team at Calverton Finance via her secure online portal.

A percentage of that invoice is paid immediately – within 24 hours – it’s advanced monies from what is owed to Watton Recruitment on each issued invoice. Her Calverton team then chase payment, as if they are the in-house credit control team at Watton Recruitment.

Once the invoice has been settled, the balance is paid to Watton Recruitment.

The Results...

“Calverton understands the day to day challenges my business can face and as such adapts accordingly. It means I don’t have to worry about applying for more funding, wasting opportunities or missing out.”

“As a result, Watton Recruitment is a sound, solid and secure business that is growing in all areas.”

”Invoice finance gives me the feeling of being very much in control of my business's finances and brings a real level of security; rising above financial woes because I have cashflow and working capital all the time I am issuing invoices; consequently I can seize growth opportunities – namely larger contracts with a higher demand for contractors -  with both hands.”

“For five years Calverton Finance has supported my business; it feels that they are as invested in Watton Recruitment as much as I am – that’s the kind of customer service I want and expected; just as I give to my own customers.”

"Invoice finance gives me the feeling of being very much in control of my business finances and brings a real level of security."

 |  Watton Recruitment

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