Factoring company Simply Factoring Brokers has relocated their offices from Bedwas to Gold Tops in Newport.
“The business has grown drastically in the last year and we needed to reflect this by upgrading our offices,” said Steve Adams, Director at Simply Factoring Brokers. “We had started to outgrow our base in Bedwas, and with the calibre of clients we are now working with, we needed a base from which to be proud of. The new facilities here in Newport are first class and position us well to take on the UK market.”
The new 750 sq ft offices will allow the business to grow in their staff numbers as well as facilitate an increase in their client base. They are currently completing ten deals per month and aim to reach 150 new deals within the next year.
“In 2014 we completed 35 deals; which shows how much we’ve grown the business in 2015 alone,” continued Mr Adams. “Our business has grown because people are becoming better informed about factoring and what it entails. It was seen as a negative and certainly a taboo subject for business owners to admit if their business was factoring. However, with many factoring options being more economical than an overdraft, people are far more receptive to the idea and appreciate how a steady cash flow can help businesses not only pay the bills, but grow in their own right.”
The company had two members of staff in November of last year but has expanded to six over the last few months and is planning to grow to a team of ten by the end of the year.