Edinburgh’s Peace Recruitment Trades and Labour, which focuses on supplying temporary contractors to the construction trade, said it is on track to build its revenue to £1.8 million, marking year-on-year growth of 50 per cent, and generate more jobs.
An offshoot of Peace Recruitment, the firm was set up in 2012 by Tamara Jaberu and Chris Peace, and now has more than 6,000 registered contractors.
Its growth has been backed by a £500,000 invoice finance facility from Ultimate Finance in Scotland, with client invoices paid by the cashflow provider almost as soon as they are issued.
Jaberu said that previously the firm had to turn down some work “because we didn’t have the large cash reserves needed to pay the people we had placed within seven days and then have to wait months for our invoices to be settled.”
She added: “We are proud of what has been achieved in the four years since we started. Each year we have grown the business but this year has been phenomenal.
“In addition to enabling us to take on more clients, Ultimate Finance also provides debt protection, as well a credit control service. This allows us to concentrate on the side of the business we know best.”
Regional director of Ultimate Finance in Scotland, Lynsey Innes, said the recruiter “was being hampered by cashflow problems caused by their own success”.
She also said: “We had no hesitation in providing the invoice finance facility to enable the company to take on more work and we look forward to supporting them as they go from strength to strength.”