James Adams, managing director of Keene and Lord, points out that getting invoices paid promptly is crucial to any business. “Sometimes it takes up to 90 days for us to get paid, so there’s a gap to be filled,” he adds. “Bibby understands our business and its challenges and they’ve been great.”  The fast-moving and demanding nature of the recruitment industry means it can often be a challenge to recruit and retain suitable candidates for vacancies. The current skills shortage, in the logistics and supply chain industries in particular, makes the job even harder.  Drivers are at a premium, with a current deficit of more than 50,000 large goods vehicle (LGV) drivers. This shortfall makes for a far more competitive landscape to attract the best drivers.  Despite these challenges, Keene and Lord has increased its turnover, growing from £3 million in 2011 to £15 million this year. Starting from a small office in Reading, the company now has six offices in the south, filling more than 800 positions every week. As a result of specialist divisions in different sectors, the firm offers both temporary and permanent recruitment services nationwide.  “Although we had many different investment options presented to us, we wanted a funding partner which would allow us to maintain control of our business,” says Adams. “Bibby Financial Services offered a welcome alternative: a higher funding capacity than anyone else and an eagerness to see us grow.  “Our industry is fast-paced and we want to continue achieving the growth we have worked so hard for. We are still carving out our space in the recruitment landscape, but by partnering with Bibby Financial Services we will be able to cement our position as a competitive and innovative company.”  Jamie Gould, manager of Bibby Corporate at Bibby Financial Services, added: “We knew the pressure Keene and Lord were under to deliver timely solutions for their clients, and understood we had to be responsive to their needs.  “Working with Keene and Lord really highlights the importance of reliable cash flow for the growth and stability of businesses looking to invest and grow, particularly in a highly competitive market.”  To find out how Bibby Financial Services can help boost your business’s cashflow, visit www.bibbyfs.co.uk.
Cash flow is king for every business, so what does a firm do when it needs to pay temp staff weekly but its own invoices are still outstanding?