Morestaff celebrates 25th anniversary
Bedfordshire headquartered Morestaff is celebrating 25 years in business this month after marking the occasion with a lunch for candidates and clients at The Old Palace Lodge in Dunstable, which took place on 21st April.
The company is supported by RBS Invoice Finance, which has provided financial facilities to assist the company’s continued growth since inception.
The company says that as it celebrates its silver anniversary, it remains focussed on securing steady growth and future expansion supporting companies across the UK as well as locally in Dunstable. Guest speakers at the event included Marilyn Davidson from APSCo (The Association of Professional Staffing Companies), the Town Mayor of Dunstable, Liz Jones, and Councillor Nigel Long of Central Bedfordshire Council and Gary Johnson from NatWest.
Morestaff claims that a significant driver contributing to its success has been a working capital facility provided by RBS Invoice Finance since its inception. The company has a factoring facility with the provider, which has been an integral element of its growth strategy, helping the company to maintain a healthy cash flow whilst stemming the gap between payments and receipts. The company also has banking facilities with NatWest.
Denise Day, director at Morestaff, said, “To have reached 25 years in business is a real achievement and we are thrilled with the success we have achieved. We have faced many challenges over the years, successfully steering the business through a challenging industrial environment, periods of market buoyancy and a series of recessions.
“We have worked with RBS Invoice Finance since the very start and are delighted with the support we have received in this time. By the very nature of our industry we have to make payments to many of our candidates before having received fees from the customers ourselves. The factoring facility has really helped to support our cash flow, bridging the payment gap to take on new contracts comfortably, secure in the knowledge that cash flow will remain stable. The team really understand our business and industry and our ethos is echoed by them – it is great to work with a likeminded team. Even after all these years of working together we feel our business is just as important as on day one.”
Kathy Doran, director at Morestaff, added, “We are immensely proud of everyone at Morestaff as we reach this significant milestone of business success. Over the years we have supported local businesses and people with their employment needs and boast over 30,000 on our payroll.”
Alex McCallum, relationship manager at RBS Invoice Finance, commented, “Morestaff is a very successful business and we are proud we have been able to support its growth to reach this landmark of 25 years. Run by a focussed and dynamic team, the company is set to continue to thrive. We are looking forward to continuing to work alongside such a strong and successful organisation.”