In July 2013, Tom Breese and Andrew Shaw decided to take the plunge and use their combined 18 years of experience in the industry to start their own recruitment agency, Ventula Consulting Ltd. Their first plan was to concentrate on the permanent market to build up a cash base but the clients they spoke to only had a number of contract positions available. As a new start up Tom and Andy realised that they did not have the funding or administrative facilities to manage the contractor base and contacted Fund My Contractor for help.
Tom says “Fund My Contractor was the perfect solution for us as we didn’t have to worry about the contracts, invoicing or payments to our contractors which allowed us to concentrate on acquiring more clients. As we didn’t have to fund any of the contract placements ourselves this meant that the funds within the company could be used for new office space, a website and computers.”
After running the contractors for a number of months it was apparent that the clients needed more contractors so Fund My Contractor looked at the possibility of setting up an invoice finance arrangement and moving Ventula Consulting Ltd to the Total Back Office Solutions Ltd model. TBOS set up the invoice finance facility and helped to migrate the contractors to Ventula’s own company ledger. TBOS also took over from Ventula’s existing accountant so that all the back office functions are under one roof.
Andrew says “TBOS have been extremely helpful in managing the day-to-day back office of Ventula and have taken the time to explain the process so that we have an understanding of the invoice finance and management accounts which is something we have never had to deal with as recruitment consultants.”
Ventula Consulting Ltd is coming up to their first year of trading and has had a very successful year. They have a good solid contractor base along with making permanent placements; they have moved to larger offices and are looking to take on more staff within the next 2 months to help grow their agency further. Find out more at www.ventula.co.uk