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Fast-growing recruitment start-up Hariley Solutions secures £100,000 MEIF investment

A Shropshire-based start-up recruitment agency secured £100,000 in investment to support business growth and create two new jobs.

Hariley Solutions Ltd, based in Wellington, Telford, has received funding from the Midlands Engine Investment Fund (MEIF) to further its expansion following a successful application managed by BCRS Business Loans.

Hariley Solutions was founded by directors Ryan Wheeler, Stuart Mackintosh and Jay Plant, who bring extensive experience in recruitment, to help firms in the industrial and transport sectors find the best staff.

The agency offers temporary and permanent recruitment services across a range of industries and will use the funding to promote their services in the Shropshire recruitment market, introduce a Customer Relationship Management System (CRM) and ensure licences are in place to meet industry compliance requirements.

The funding will also be used to invest in staffing, with two new jobs created and a further six jobs protected.

Ryan Wheeler, Director at Hariley Solutions, said:

“The investment secured from MEIF will be used to grow the business by expanding the team and bringing new talent on board to generate new business. It is exciting to see where we go next and how the team will develop to achieve our goals.

“We have worked hard to make significant progress to date, adding a personal touch to our interactions with clients and candidates to stand out in the recruitment sector. The key leaders in the business have experience in recruitment and we are bringing enthusiastic young talent who buy into our values and want to build their careers with Hariley Solutions.

“BCRS worked with us through a rigorous process which was thorough and took the time to understand our business thoroughly. We appreciate the MEIF team supporting Hariley Solutions as a start-up as their funding will allow us to realise our vision and put in place the infrastructure for growth.”

Andrew Hustwit, Head of Business Development, at BCRS Business Loans, said:

“We are delighted to be able to provide the funding that Hariley Solutions needed to create further growth. When a proposition comes in which is as good as the Hariley Solutions application, we want to help.

“BCRS Business Loans are committed to making a positive social and economic impact so we are also delighted there will be two additional jobs created in the region, with a further six protected as the business grows.

“With the owners having a strong track record in recruitment and meeting the match funding capital requirement, Hariley Solutions are the latest example of our close support for businesses based on fully understanding their potential rather than a judgement based on a remote computerised approach.”

Grant Peggie, Director at the British Business Bank, said: “The investment from MEIF for Hariley Solutions will be utilised to recruit and train new staff with a vision to expand and grow the business.

“MEIF invests in innovative and creative small businesses in need of investment across the Midlands region. The investment for Hariley Solutions shows the diversity in the types of businesses funded by MEIF.”

Mandy Thorn MBE, Chair of Marches Local Enterprise Partnership, said: “This is yet another example of a company being able to grow because they have secured essential funding.

“It is vital that all businesses across the Marches have access to the funding they need to succeed. Which is why the Marches LEP and its business support service the Marches Growth Hub continue to work closely with MEIF. I wish Hariley Solutions every success as they continue to grow.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Business loans from £25,000 to £150,000 are available via the MEIF Small Business Loan Fund, which is delivered to businesses located in the West Midlands region by BCRS Business Loans.

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About the Midlands Engine Investment Fund (MEIF) The Midlands Engine Investment Fund, supported by the European Regional Development Fund, will invest in Debt Finance, Small Business Loans, Proof-of-Concept and Equity Finance funds, ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development. The Midlands Engine Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. The Midlands Engine Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company. The MEIF covers the following LEP areas: Black Country, Coventry & Warwickshire, Greater Birmingham & Solihull, Stoke-on-Trent and Staffordshire, The Marches, and Worcestershire in the West Midlands; and Derby, Derbyshire, Nottingham & Nottinghamshire (D2N2) Greater Lincolnshire, Leicester and Leicestershire, and South-East Midlands in the East and South-East Midlands. The project is receiving up to £78,550,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The programme will continue to spend to the end of 2023. The Department for Levelling Up, Housing and Communities is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit www.gov.uk/european-growth-funding. The European Investment Bank is providing £122,500,000 to support the Midlands Engine Investment Fund. This follows backing for the Northern Powerhouse in 2017 and backing for the newly launched North East Fund. For further information visit www.eib.org The funds in which Midlands Engine Investment Fund invests are open to businesses with material operations in or planning to open material operations in the West Midlands and East & South-East Midlands. The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at https://thebusinessfinanceguide.co.uk About the British Business Bank The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government. The British Business Bank’s core programmes support nearly £8bn[1] of finance to almost 94,800 smaller businesses[2]. Since March 2020, the British Business Bank has also launched four new Coronavirus business loan schemes, delivering almost £73bn of finance to around 1.6m businesses. As well as increasing both supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of the finance options available to smaller businesses. The British Business Bank Finance Hub provides independent and impartial information to businesses about their finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success. In light of the coronavirus pandemic and EU Exit, the Finance Hub has expanded and it now targets a wider business audience. It continues to provide information and support for scale-up, high growth and potential high growth businesses, but now provides increased content, information and products for businesses in survival and recovery mindsets. The Finance Hub has been redesigned and repositioned to reflect this, during this period of economic uncertainty. British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for the group can be found at www.british-business-bank.co.uk. ________________________________________ [1] Figures as at end of June 2020 [2] Figures as at 28 January 2021

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