- 11 Dec
Invoice Finance & Factoring Bucking the Economic Trend?
We were recently contacted to contibute something to an article that is being written about businesses that are "bucking the economic trend" and recruiting more staff in the new year. If any level of recruitment next year is a measure of a business that is "bucking the trend" then I guess that paints a fairly bleak portrait of the current economic climate in the UK! Fortunately the demand for invoice finance and factoring has grown and allowed us to grow our business with it.
For us there is also another issue around staffing and that is the status of the people that work within our businesses. With the exception of our core team, in recent times we have sought to outsource functions to other small businesses and contractors rather than staff to be employed by us.
Many functions can now be "outsourced" such as web related work, marketing etc. which formerly would have been handled in-house. Historically "outsourced" inferred some kind of faceless call centre even one based overseas, but I think that it has subtley changed in recent times, at least for some of us, to reflect people working for themselves and taking on projects from a range of clients. This is certianly a model that has worked for us, employing large numbers of staff in the UK has just become too much of a headache to contemplate once all the legislation is taken into account.
We have been fortunate enough to see a growing demand for invoice finance and factoring over the last year and we hope that trend will continue, at least there are a few sectors, such as ours, that are able to "buck the trend"!