Invoice discounting gives recruitment firm 'leverage'

24/01/2008

A recruitment firm based in Greater Manchester has explained how an invoice discounting deal has given it the leverage it needed to develop its business.

CCS Recruitment explains that invoice discounting was able to ease the financial problems resulting from the fact that it was often required to pay its staff on a short-term basis, while only being remunerated by clients at the end of each month.

Now with a £1.5 million invoice discounting deal in place, CCS bosses have suggested that they are in a strong position to develop and expand the operation of their business, the Manchester Evening News reports.

The company's managing director Sean Hickey remarked: "Finding skilled consultants can be costly, however with these arrangements we have the ability to bring new people in when we need to."

"As an expanding business invoice discounting gives us leverage," he added.

Speaking to the same newspaper recently, Alison Small, a director at the City Invoice Finance company, claimed that invoice discounting can give small firms the kind of financial flexibility they need to develop.