Bibby Financial Services (BFS) has provided a £1.4 million Recruitment Finance funding line to Pearson Anderson, an ambitious healthcare recruitment company. The funding line includes Bad Debt Protection and payroll services, which will help the business manage contracts and finances more efficiently and effectively.
Based in Leicester and founded in 2009, recruitment firm, Pearson Anderson, is managed by CEO Amit Kainth. With specialist experience in the sector, Pearson Anderson has grown significantly and is now one of the leading healthcare recruitment agencies in the UK. The business prides itself on having experienced consultants that know the industry inside out, and for having an international network of recruiters to source from a wider pool of potential candidates for UK based roles.
Pearson Anderson needed support in payroll management so looked to Bibby Financial Services (BFS) to structure a Recruitment Finance and Bad Debt Protection funding package. The structured funding line ensured that payroll is effectively managed by a designated BFS back office support team and the business was supported in the event of debtor non-payment as a result of protracted debt or insolvency.
This arrangement allows Pearson Anderson to free up time to prioritise growth and concentrate on offering services to new clients.
Amit Kainth, CEO at Pearson Anderson Ltd, said: “In order for us to expand our services, we recognised that we needed to prioritise our efforts to drive growth over the next few years. To free up new time for us to focus on this, we needed additional support in back office functions such as payroll management and daily administration.”
“The experience and knowledge of those at BFS really stood out to us. The Recruitment Finance team was able to provide us with an offering that worked in-line with the operations of our business, and that was crucial when making our decision to choose them as our financial partner.”
Speaking on recent changes to immigration rules, Kainth added: “The Government’s recent decision to relax the visa rules for doctors and nurses could be very beneficial for our business as the NHS is a key part of the UK economy which desperately needs talent. Our network of recruiters across Europe are well placed to help find the talent the UK needs.”
Paul Fraser, UK Sales Director, Specialist, Bibby Financial Services commented: “Pearson Anderson is a market-leading healthcare recruitment agency that has experienced substantial levels of growth since its incorporation.
“Our team has worked closely with Amit and his team to structure a Recruitment Finance offer that suited their business, allowing the company to pay suppliers and staff, and to concentrate on the areas in which they wish to develop over the coming years.
“This, alongside back-office administration and payroll support, will allow Pearson Anderson to grow and prosper, and maintain their reputation as a market leading recruiter.”
Susan Farmer, Head of Recruitment Finance, Bibby Financial Services added: “For the first six months of this year we have seen strong performance in the recruitment industry, amidst a challenging environment. The UK continues to have record low levels of unemployment, while the demand for high level talent is ever increasing due to the difficulties that Brexit is causing.
“Businesses like Pearson Anderson are often reliant on overseas talent to fill a large number of vacancies. A challenge that not only the healthcare industry is struggling with, as the UK continues to hit the Tier 2 Visa cap.”
Pearson Anderson was introduced to BFS by Patrick Murphy of Fairway Business Finance.