ADVANCE Targets Further Growth After 7% Revenue Increase
Contractor and recruiter services provider ADVANCE is eyeing further growth after recording a 7% increase in revenues.
Turnover for the year ending 31st March 2016 was £57.1m, up from £53.5m the previous 12 months.
Managing director Shaun Critchley attributed the growth to an increase in the number of ADVANCE’s recruitment agency partners. He said: “These results are pleasing and we’ve had an encouraging start to the new financial year, with revenues from April to August 3% ahead of forecasts. Following April’s legislation changes we have seen a significant growth in demand for our umbrella solution. This is thanks to our expertise and experience in ‘supervision, direction or control’ (SDC), which we have built up since 2014 through our self-employment solution. Post-April our umbrella employees can – subject to their SDC status – still claim home-to-work travel and subsistence expenses. Mileage is variable and all other expenses are fixed.This compliant approach is proving to be extremely appealing to agencies and contractors alike.”
ADVANCE works with a network of industry-leading professional advisors.
It is the only provider to have passed Freelancer & Contractor Services Association (FCSA) compliance audits for all three core contracting solutions – limited company accountancy, umbrella employment and self-employment.
The company has now achieved six consecutive years of revenue growth since its launch in 2010.
ADVANCE recently enjoyed its best ever week in terms of the number of umbrella contractors employed. Its limited company accountancy client base, meanwhile, has more than doubled in size since this time last year.
Based in Chester, ADVANCE works with recruiters in a wide range of sectors and industries including IT, engineering, media, energy, life sciences, construction and education.
“We pride ourselves on delivering a world-class service and eschewing a one-size-fits-all approach in favour of a flexible attitude and tailored solutions”, added Critchley.
“Our objective now is to continue to achieve sustainable growth while staying true to these principles.”