A healthcare firm in Bradley Stoke is set to see the company’s turnover increase 16-fold this year – after getting outside help to manage cash flow.
Thirty-five-year-old Trevor Mapondera set up Nurseline Healthcare Limited in 2011 and the firm recorded a profit in its first year.
But its income masked serious cash flow issues – as wages were paid ahead of receiving payment from clients.
The firm, which offers cost-effective nurse recruitment to healthcare providers, sometimes had to turn away contracts despite having a team to carry out the work.
The company then called in finance specialist Hayley Chiba, of Better Numbers, and within six months she has helped the company to increase its growth by 40 per cent
Trevor, a former UWE student who started work as a mental health nurse with the NHS over 10 years ago, said:
“We felt frustrated because we couldn’t grow as quickly as we wanted to and it was simply the cash cycle that was holding us back.”
“We had a weekly payroll for our staff, but usually had to wait a couple of months to get paid by clients. This added to our costs as the interest on borrowing was over ten per cent.”
“It had a knock-on-effect on other areas of business, such as not being able to take on more staff to meet the growing demand. It was an area we needed to change – and quickly.”
Trevor, who lives in Patchway, added:
“Hayley managed the whole cash flow issue and dealt with the banks, so we could focus on running our business. It was like a weight was lifted off our shoulders.”
“We wouldn’t be where we are today if it weren’t for Hayley. Instead, we would be plodding along and unable to grow because of lack of capital.”
The business, which has its headquarters in Bradley Pavilions (Pear Tree Road), is now set to take on another 300 nurses within a year – bringing its team of available staff to 500. It is also set to open another branch in Gloucester this summer.
Hayley, who has worked as a finance manager for the multi-billion pound pharmaceutical company AstraZeneca and lives with her son and partner in Westbury Park, said:
“I often work with high growth companies, which have a turnover in the millions, yet cash flow is still an issue.”
“Cash flow problems can affect a company’s ability to make money. Strong cash flow allows a company more flexibility with its business decisions and potential investments.”
Photo: Trevor Mapondera (right), of Nurseline Healthcare Limited, and Hayley Chiba, of Better Numbers.
