Mynt Recruitment* is a specialist recruitment business that supplies contingent/temporary workers for engineering, production, manufacturing, logistics, commercial and sales. Mynt Recruitment’s strengths make them the recruiter of choice for Interim, Contract and Permanent vacancies in highly skilled roles.
John Stanton, Chairman, and Martin Shaw, MD, who are now both 50% stakeholders in the business, tell us how Aldermore Invoice Finance (factoring) has helped keep the cash flow moving and enabled their business to flourish and grow.
The relationship between Mynt Recruitment and Aldermore has spanned more than a decade. In that time Mynt has gone from being part of a franchise to becoming independent in January 2009, with offices in three cities (York, Hull and Rotherham) and with expansion planned for 2019. They employ 15 permanent office staff and place 250-300 contingent/temporary workers out every day, with clients across the whole of the Yorkshire region and beyond.
Martin says, “The team at Mynt pride themselves on giving their customers an unrivalled level of service”. With John adding, “Many of the leading members of staff have been with the company since we launched in 2004 and remain loyal which makes me very proud”. He explains that this has been one of the keys to their success and says, “Staying focused against the backdrop of overwhelming financial pressure, keeping my team around me and sticking to our vision across the recruitment sectors we cover has been a real achievement”.
Support through good times and bad.
Since starting their business in 2004, Mynt Recruitment’s sales ledger has increased significantly which means they needed extra funding to facilitate growth. But it’s not all been plain sailing. John explains, “In 2008/2009, we like many were hit with the recession, but Aldermore stuck by us, continued to offer us support, both financially and business wise.”
John also has high praise of the Aldermore team, “The people might have changed over the years, but the level of service, commitment and outstanding support, has never petered off, it’s just got better. We deal with St John Emms more than anybody, he is superb, but the whole back office team are outstanding”.
This year, Mynt Recruitment has made some significant investments; they’ve recently moved their Rotherham offices to a larger unit and are in the process of relocating their head office in York to a new much larger self-contained office suite and are in the process of updating their CRM system, these changes alone has cost over £50,000. Further investment will be required if they are to achieve their goal of expanding in 2019. They recently engaged a business mentor, who will help take the business to its next stage of development and, are currently in the process of drawing up a new five-year plan. Aldermore’s role will be essential in helping to take their brand to another level. Martin goes on to say, “We are focussing on our core strengths, whilst looking to broaden our service to a range of new markets with new propositions; neither John nor myself are scared of investing in growth”.
Working with other suppliers.
There are a whole host of firms that offer invoice financing to SMEs like Mynt Recruitment. So have they ever been tempted to take their business elsewhere? Mynt’s Chairman, John, replies, “In our line of business, we get many sales enquiries each week from other factoring businesses, each offering the earth, each guaranteeing to be better, cheaper, or offering more support than Aldermore. But I can say with all honesty, that in all these years, we have only looked at their competitors once as part of a review of all of our service providers. Needless to say we are still with Aldermore.”
St John Emms, Key Relationship Manager for Mynt Recruitment says “At Aldermore we’ve been able to assist Mynt with increased facilities as the business has grown. It’s a real pleasure dealing with John and Martin, and seeing the business develop under their guidance. We look forward to continuing this journey with them”.
John’s advice for other ambitious SME’s preparing for grow:
- Get a good accountant and trust them - we did
- If you are considering Invoice Finance, give Aldermore a call.
- Join a good networking group and share your problem and successes. John is Regional Direct of TEAM – The Employment Agencies Movement
- “Festina lente” Latin for “Make haste slowly” – in other words, don’t try to run before you can walk.
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