We spoke with Bernadine Geary, Director, Cashflow Finance at Fundamental Business Finance, who provided some insights to the...
Hunter Labour Hire
A Waddle growth storyJorja Creighton
Sydney-siders are skilled at working their way around the ever-changing streets as construction sites are forever popping up. We dig through, build on top of, expand, remove, repair, refurbish and build from the ground up and it’s all powered by human labour.
Sorcha Hunter, the founder of Hunter Labour Hire has been helping supply this labour to the construction industry for 10 years. Their motto is to provide quality trades people quickly and safely. According to Hunter “labour quality is the main struggle of the industry, workers might not be reliable enough or have the requisite skills and the effect of this is less efficient labour and ultimately a greater cost to their employers.”
To deal with this issue, Hunter Labour Hire get feedback from their clients on the labour supply daily. Sorcha says ‘if we send someone new, our team will call around lunch time and ask how the hire went. We always try and stay on top of it”. Perhaps this strong client service is the reason behind their amazing growth.
Sorcha started in the industry working for another labour hire company but reached a point where she recognised that she could do it on her own. So she did. “We started Hunter and our 2015 turnover was very small, then in 2016 we grew gradually but in 2017 our growth has been incredible.“
The problem with rapid growth like is that it can create a cashflow problem. According to Sorcha “in our industry, our clients pay us on 14-30 day terms, however we need to pay our wages every 7 days. Recently, we went from supplying 30 to 50 candidates in the space of a couple of weeks so we needed funding to pay those wages. On a Wednesday afternoon, we process our wages and know exactly what we need to draw down from Waddle to pay that wages bill the next day. The nice part is that we only pay for funds we use.”
Sorcha had previously used invoice factoring but it just didn’t work, feeling it required too much administration to manage it as well as being expensive. Now, she says “I love the way Waddle integrates seamlessly with Xero so I can easily recognise my client’s payments. It’s all so simple, more businesses should try it as it has definitely helped us grow.“
To find out whether Waddle can help your business grow contact our dedicated team at email@example.com or 1300 649 322