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Barclays funding supports brighter future for Bright Purple overseas

Barclays funding supports brighter future for Bright Purple overseas

Bright Purple Resourcing Limited, the ambitious Scottish-based global IT and financial services recruitment specialist, has announced it has appointed Barclays as its sole provider of corporate banking services.

The move follows the provision of a multimillion pound invoice discounting facility by Barclays which will play a vital role in the recruiter’s international growth strategy. Bright Purple currently employs over 60 people in its four offices in London, Edinburgh, Singapore and Vilnius.

The firm’s founder and CEO Nick Price aims to grow Bright Purple into a &pound100m business over the next few years and has launched its two international operations over the last year to help ensure he will deliver on this pledge. The invoice discounting package and relationship with the Corporate Banking division at Barclays will enable the company the flexibility and foundation to actively progress with that international business plan.

Furthermore, the Barclays approach to relationship banking has led to the introduction of Bright Purple to a number of potential overseas clients through an extensive international network, enabling the company to access emerging markets and high-net-worth individuals.

Domestically the firm recently celebrated success at the 2012 Institute of Directors (IoD) Scotland Awards after Mr. Price won the director award for Enabling the Effective Use of Skills. As well as being shortlisted for the Edinburgh and Lothians regional award, he was also a finalist in the overall Scotland director of the year category. Price’s award for effective use of skills followed the launch of the Bright Purple Academy last November. Based within the firm’s Edinburgh headquarters, the Academy provides internal and external training and also delivers an important CSR role through the Bright Futures programme, an initiative helping young people who are currently not in employment, education or training.

Bright Purple CEO Nick Price said:

“Barclays is the ideal banking partner for a business like ours which has strong UK roots and aspirations for further global growth. We have a great working relationship with their team and look forward to taking this to the next stage of our ambition to paint the globe purple.”

Paul Smith, Corporate Business Development Director led the deal for Barclays working alongside Mike Kempton-Smith, Associate Director from the Trade and Working Capital team.

Colin Walls, Regional Director, Trade & Working Capital for Barclays in Scotland and Ireland, said:

“This deal is positive for Bright Purple but also the UK recruitment sector. Bright Purple is fast growing into a dynamic international performer. We have considerable respect for the management team and their business plan having worked closely with them for some time. This period of growth will require a wide range of our services but we have the sector presence, knowledge and appetite to deliver a banking solution closely tailored to their plan. At a time when competitors are consolidating and downsizing operations, it is fantastic to see a homegrown company thriving in the current economic climate. Bright Purple is a great Scottish success story: finding new opportunities to grow its UK revenues and also leveraging global business.”


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