Portsmouth Driver Hire Doubles its Turnover and Driving Staff
16 March 2013
Jamie inherited a firm that was not well known in the area, and one that needed to work with others in order to flourish.
But thanks to him working with his bank, he has managed to double his turnover.
He asked Lloyds TSB for a £150,000 invoice finance facility and can now regularly find work for more than 80 local drivers to take care of the firm’s transport and logistics business.
The invoice facility involves advancing up to 90 per cent of the value of a business’s invoices, allows the firm to complete its weekly payroll requirements without having to wait for payment from customers, while being in a strong position to capitalise on expansion opportunities.
Jamie said: ‘In less than a year we have achieved substantial growth due to increasing customer demand, with many firms looking to take on temporary workers in the current economic climate'.
‘We’re finding work for over 40 more people than at the start of the year, and hope to further increase our candidate numbers in the near future'.
‘The funding from Lloyds TSB Commercial Finance has been instrumental to the ongoing success of the business, and we look forward to building on this strong working relationship as we implement our strategic growth plans.’
Over the next year the company is looking to develop additional business opportunities, through the provision of office and warehouse-based staff, and helping clients to ensure they meet the September 2014 deadline for Driver Certificate of Professional Competence training requirements.
Nick Carter, regional manager at Lloyds TSB Commercial Finance, said: ‘Jamie and the team have built a reputation for providing a professional, reliable service to clients across Portsmouth and the surrounding areas, which is reflected in the strong growth achieved during Jamie’s first year of ownership.’
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