- Firm welcomes new commercial director and plans to expand commercial division
- Factoring facility provides working capital assistance
Glasgow-based recruitment firm Global Recruitment Group is on target to double its turnover this year, thanks to a number of new blue chip contract wins.
The firm has also welcomed a new Commercial Director – David Mulgrew – who joins Managing Director George Murphy. Mulgrew will assist Murphy with his plans to expand the commercial recruitment division of the business.
The finance we've provided has helped back the growth. The invoice factoring facility releases funds from the firm’s sale ledger, giving them access to working capital. This helps cash flow and provides a platform for Global Recruitment Group’s future growth.
The logistics arm of the group, Global Logistics Staff, was founded in 2001 by George Murphy and Finance Director Louise Conlon. It operates predominantly in Scotland but also extends its services across the UK. Global Recruitment Group operates from its head office in Glasgow and has a second office in Hamilton that provides training services and handles all payroll and invoice functions. The company employs over 200 staff.
George Murphy, Managing Director of Global Recruitment Group:
"The business has been growing strongly and we're now in a great position to expand the commercial sector and take on a Commercial Director. Consistent business performance and new contract wins are large contributors to our success and the factoring facility provided has played a key role in supporting us.
"Invoice factoring is a great facility that really works well for us. We pay temporary staff on a weekly basis so the working capital from the facility helps to bridge the gap while we're waiting for our invoices to be paid. The banking and invoice finance teams are very proactive and provide Louise with peace of mind. This wlets me focus on running and growing the business – and hitting our target of doubling our turnover."
Raymond Pazikas from Royal Bank of Scotland:
"Global Recruitment Group is a well established company in Scotland and they have impressive plans to grow and secure further new business wins. This is a great example of how invoice factoring can help a growing SME access working capital via their sales ledger."
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