Staffing Match sees fast growth
Within a 12-month period, directors Michael Gadsby and Salman Iftekhar have grown this new business to compete on a national and European platform as the entrepreneurs establish themselves in Bristol and Frankfurt. The company employ 22 staff within its UK operations and three staff at its new German location. Bristol is responsible for £1.5m in contracts and Frankfurt is expected to bring &euro3m to the company.
Recently, Gadsby and Iftekhar, who have worked together for a number of years, won two accolades at the 2015 Hounslow Business Awards: Best New Business and Entrepreneur of the Year.
Staffing Match is their first brainchild and is demonstrating impressive results, as the duo increased their first set of trading results from £4.5m to a reported £17m.
RBS Invoice Finance is supporting this growth with a £2m Invoice Factoring facility that will allow Staffing Match to pay their temporary staff on a weekly basis whilst waiting for payment from their blue chip clients. The increased facility from £350,000 is facilitating expansion in terms of jobs and new offices and allowing them to supply in excess of 900 workers a week. A large proportion of the workers on their books are allocated to fulfil temporary jobs at London’s major airports.
Iftekhar explained, “Michael and I could not have predicted the success Staffing Match has reported in its first year of trading and our recent business award wins are testament to this. We bring valued skills to the business both finance and operations. Combined, this is helping to rapidly grow the business both here in the UK and Europe where our clients have a need for our services.
“It’s not all about financial support with our banking partners, but more the extra mile they go to track our business growth and provide a bigger facility when we need it. The relationship we are enjoying is helping us put Staffing Match on the map as credible providers of temporary labour in a corporate market.”