Name: Hall-Fast Industrial Supplies
Based: Mansfield
Website: www.hall-fast.com
Hall-Fast supplies more than 200,000 items including specialist fasteners, access and handling equipment, workwear, tools and personal protective equipment (PPE) to the automotive, general industrial and public sectors, both within the UK and into 82 overseas markets.
The company has achieved rapid growth since it started trading in August 2006, yet still remains self-financed from profits.
Expansion into new overseas markets in 2010 and a rapidly expanding product and customer base of more than 7,000 customers has resulted in the need for an overdraft facility to assist with cashflow when very large orders are received or with seasonal changes.
Current projections for 2014/15 see sales growth of more than 50%. This will be achieved without the requirement for a business loan, as the implementation of a carefully thought-out strategy to focus sales growth in areas where up-front payments from overseas customers alongside rapid growth in online transactions.
Cashflow has also been improved by negotiating extended credit terms with its growing base of 405 suppliers. A positive cashflow position has enabled Hall-Fast to invest in new systems, recruit and train additional people, and research and enter new markets both in the UK and overseas.
Malcolm Hall is the owner and managing director of Hall-Fast Industrial Supplies.
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