A Sutton Coldfield-based recruitment firm that has achieved 100 per cent growth in its annual turnover over the last four years is planning to open two new offices and expand its client base with the support of a factoring facility from Lloyds Bank. Established in 2001, Winner Recruitment in Streetly facilitates the provision of temporary workers for firms in the warehousing, transportation and healthcare sectors, including some of the largest 3PL’S in the UK.
The business, which has 12 employees, has capitalised on the increased demand for flexible workers within these industries and has grown its annual turnover to £6million since it began trading. The company is on track to achieve turnover of £10 million this year, with a two-year development plan to grow in excess of £25million turnover.
To cope with increased demand the company opened a second office on Hubert St in Birmingham in March 2014, and to accelerate its growth plans further the Lloyds Bank Commercial Finance team provided the business with the facility to generate working capital based on the business’ unpaid invoices. Lloyds Bank Commercial Banking provides the banking facilities for Winner Recruitment, led by relationship manager Ian Monk.
The additional cashflow means the firm can accelerate plans to open three additional new offices and be situated closer to the central hubs of its leading clients within the next 12 months, without disrupting the daily running of its existing operations. Vish Jain, Managing Director at Winner Recruitment, said: “The business has achieved considerable success in the past three years, delivering reliable workers to fast moving industries whose work forces often need to be scaled up at short notice.
“Our long-term strategy will see us open more offices around the country to enhance the service we offer to our clients that have operations throughout the UK. This facility from Lloyds Bank will be essential to equip us with a steady flow of working capital to help drive our growth plans forward.”
Grant Stanley, Client Manager at Lloyds Bank Commercial Finance, said: “Winner Recruitment is a thriving business that clearly understands the demands of its rapidly growing market and is adapting its business model to drive further success for the firm.
“The factoring facility we have provided will help the business to build upon its 100 per cent growth, whilst ensuring it has the capability to balance daily administrative demands with its ambitious on-going development plans.”