Blyth based HR consultancy to expand internationally via five-figure NEL funding
A North East human resources consultancy is looking to grow both at home and abroad after winning a five-figure investment from the North East Small Loan Fund Supported by The European Regional Development Fund.
Inspired HR offers the full range of outsourced HR services, with packages tailored according to each client’s specific needs, and also provides a growing range of legal, recruitment and employee well-being services.
Having grown organically over the last five years, the Blyth based business is now aiming to accelerate its expansion and is looking to break through the £1m turnover barrier within the next three years.
The Inspired management team has worked with regional fund management firm NEL Fund Managers to bring in a £90k Small Loan Fund investment, which will help to strengthen the business’s legal and recruitment arms and take advantage of a range of post-Covid development opportunities.
Founded in 2017 by director Nikki Masterman, Inspired HR’s different service functions regularly work together to provide SMEs with a “seamless service” in areas where they either do not have a dedicated in-house HR, recruitment, legal or well-being function or need additional support to underpin their operations.
As well as increasing its client base across the UK, it is enhancing its presence in a number of Middle East states, with an Inspired delegation recently spending a week with clients in Bahrain, and is also looking at future acquisition opportunities.
The business has recently taken on a talent acquisition manager and a relationship manager and is expecting to create a further four new jobs this year, with more to follow next year and beyond.
Nick Wilson, director at Robson Laidler Accountants, Linda Lowther, business advisor with Advice 4 Business North East and Nikki Masterman’s business mentor, David Lynch of 41 Kong Investment Group advised the Inspired HR management team during the investment process.
Nikki Masterman commented: “The business was set up to inspire North East SMEs to deliver excellent HR services, as well as to give them somewhere to go to help manage any workforce issues that arise, and our growth so far has been based mainly around recommendations and positive word of mouth.
“The Middle East offers a range of opportunities for skilled North East personnel in areas such as foundry, oil and gas, and the relationships we’re building in these markets will make a significant contribution to our growth plans.”
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