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AJW Recruitment has opened in Marlborough after securing a funding package from Lloyds TSB Commercial Finances specialist recruitment finance division.
Local entrepreneur Amanda Wheeler has opened Marlboroughs first recruitment firm, AJW Recruitment, after securing a 30,000 funding package from Lloyds TSB Commercial Finances Recruitment Finance division.
The business sources temporary and permanent staff for the general administration, property, accountancy, finance, PR and industrial sectors across Wiltshire and Berkshire.
Amanda has 10 years experience in the recruitment industry, having worked in a number of high-profile agencies. After helping a colleague establish a recruitment firm, she decided to take the leap and set up on her own and AJW has now been running for a month.
I was working from seven in the morning until seven at night and it got to the point where I thought, I should be putting in these hours for my own company, Amanda said.
Marlborough seemed like an ideal location for a new recruitment agency, as there wasnt anything similar on the high street.
In order to fund the start-up, Amanda approached Lloyds TSB Commercial Finances recruitment finance specialists. The funder provided a 30,000 package consisting of factoring and payroll finance to assist the company in paying its staff without restricting its cash flow.
Payroll finance is a specialist form of funding for recruitment firms and takes care of all the key administration tasks involved with ensuring temporary workers are paid correctly and on time, whilst also making sure the business is compliant with tax and data protection legislation.
Factoring, which is based on a firms issued invoices and grows in-line with sales, was utilised by AJW to ensure it had sufficient liquidity to pay its permanent staff without using its cash flow, which is essential in the early stages of a business growth cycle.
As a result of the funding, Amanda is confident the company will grow quickly and plans to take on another member of staff in the next month. She also aims to open another branch locally this year.
Amanda said: Originally, I was only planning on dealing with permanent placements due to cash flow restrictions but, after meeting with David from Lloyds TSB Commercial Finances specialist Recruitment Finance team, I realised I could deal in both temporary and permanent jobs with the help of payroll finance.
This facility has eliminated the headaches of back office work, allowing me to concentrate on building my customer base. As AJW Recruitment grows, the payroll finance solution will assist me in carrying out the administration work and ensure our temps are always paid on time.  
David Billington, regional manager for Lloyds TSB Commercial Finances Recruitment Finance division, said: We worked closely with Amanda to put together a funding package which would suit her specific needs, as a new recruitment business dealing with both temporary and permanent staff.
Factoring is ideal for new firms as it is based on issued invoices, unlike many traditional forms of funding which require the business to have filed their first year accounts. Complementing this, the Payroll Finance facility is a specialist form of payroll management to control temps wages, including taxes and holiday pay.
AJW is a shining example of a start-up with the right attitude, business plan and finance package, capitalising on the improving economy to carve a niche in the local market.


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