Yes, it really is 10 years since GGT Insolvency Recruitment was formed from a germ of an idea one Friday afternoon, thunbing through the back pages of Accountancy magazine!
We couldn't have chosen a worse time to set up the business, with the global financial crisis unfolding before our eyes! Usually this would be an excellent time for the insolvency profession, but not this time with the recession that followed. Unlike the recessions of the 80's and 90's, this time the economy failed to recovery quickly, which is the usual form. The economy flatlined, only gradually recoverying. In the past, the recession is followed by a sharp upturn, in which struggling companies have no fat on their backs to finance the sudden growth and cash flow dries up. So this time, insolvencies weren't what they usually are and businesses struggled on. This is where we first encountered the term "zombie companies"!
This left insolvency practices unsure for years where their practices were going, which meant recruting staff was a step too far. Too much risk adding to overheads. In fact, it proved to have a much more serious impact on most insolvency practices and far from bolting on new staff for the anticipated upturn, IP's were forced to shed staff, some having to make several rounds of redundancies. This continued through to as recently as last year.
It has been an unprecedented time within the insolvency profession.
But we survived! Well, we did more than survive, we established ourselves against stiff competition and grew our business. Over this extremely difficult period, we have successfully placed many candidates at all levels and helped many IP firms, large, medium and small to fill key roles. We can proudly say that we have worked with some of the Big 4, Top 10, mid tier and independent practices. We started off just covering Yorkshire and the East Midlands, but soon grew to cover the North West, West Midlands, North East and within the last year, we started covering the whole country.
We've recruited IPs, managers, administrators and a fair number of cashiers! Indeed it's fair to say that we have recruited for the whole range of insolvency roles, even including business developers with their own unique set of issues to think about!
We have also been instrumental in introducing a number of mergers and acquisitions, which we continue to do, albeit working behind the scenes. One thing that applies to both mergers and recruitment and that is confidentiality, which is paramount.
It has been 10 very hard, but exciting years. It has been interesting to see the insolvency world from the other side of the fence and how it continues to change, with what seems to be more and more regulation and less commerciality. That's all a bit sad!
So hopefully, as the insolvency profession starts to get to grips with the economy, which is starting to create a few more insolvencies, GGT will also continue to grow. Brexit is an opportunity not an excuse! But whatever happens with Brexit (which will undoubtably become the excuse for every failed business, as the miners strike of the 80's was) there will be businesses that struggle. The insolvency profession will be in demand and need good people. And GGT Insolvency Recruitment will be there to help find the best insolvency professionals, using the skills aquired from years of experience as an IP.
Thanks for your support over the first 10 years and we look forward to working with you long into the future.
Don't forget...........
GGT Insolvency Recruitment - "Insolvency.....it's our business....it's all we do....it's all we know!"
Contact us in confidence geoff@insol-jobs.co.uk or sheona@insol-jobs.co.uk or call 0333 577 5705 or visit www.insol-jobs.co.uk