Extraman posts modern day record
Extraman, like most businesses that have been around for a long time, has faced plenty of ups and downs in its 33 year history.
Our low point was in 2008, when Woolworths went bust, leaving us with nearly a thousand staff to pay and a huge bad debt. Fortunately, we had obtained credit insurance, so our losses were eventually a lot less than many businesses who supplied to the former high street giant.
Losing an account of that size led to re-structuring and a few years where headway was hard to make. We were also faced with the unfair competitive advantages that many of our competitors were able to exploit by means of various exploitative practices that we were not prepared to endorse. It became extremely easy for rogue agencies to prosper.
The pendulum, however, has swung. The largest company in our sector faces an uncertain future as it suffers huge fallout from apparently illegal practices, dating back many years, while another market leader holds the dubious distinction of being fined the highest ever amount for failure to pay minimum wage. At last, it is becoming much harder to exploit agency workers and many of those that have done so are paying the price.
Despite the current high levels of uncertainty for business, Extraman has seen a surge in business during the past year, and we pass the halfway point of 2019 with a tunrover in excess of £4 million; a really positive start, given that the bulk of our work traditionally occurs in the second half of the year. It is our best start to the year since 2008. We have invested in new staff and an office refurb and we believe these investments will enable to us to keep expanding, while never forgetting that our existing customers are the bedrock of our business.