What does the business do
My Credit Controllers, established in 2013, specialises in offering Credit Control as a subcontracted service, catering to a diverse range of businesses across various sectors. Founded by Samantha White, the business has experienced remarkable growth, which has been supported by Business Lincolnshire and more specifically, Toni Coupland, one of our Growth Hub Advisers since 2015.
My Credit Controllers was born out of the recognition that many small and medium-sized businesses face challenges in managing their credit control effectively. Samantha identified the need for a specialist credit control service that could help businesses maintain healthy cash flows, realising that most businesses, despite requiring credit control expertise, didn't possess the scale to justify a full-time credit control specialist. My Credit Controllers was established to bridge this gap and ensure that businesses of all sizes could get paid on time, every time.
The journey of My Credit Controllers began with Samantha's passion for helping businesses get paid promptly. Drawing on her background in accounting and financial control, Samantha identified the prevalent issue of businesses struggling to collect payments efficiently. Armed with a vision and determination, she ventured into the world of entrepreneurship a decade ago. Starting from her bedroom in Market Rasen, after moving here from Cambridgeshire with no business contacts or clients, My Credit Controllers has now grown to operate from two offices, one in Humberston and another in Lincoln.
Over the years, the company has cultivated a substantial client base, servicing well over 30 monthly clients and collecting an impressive £60 million in the past two years alone. It has also grown to employ its ninth member of staff and has upscaled to its third and largest office space too.
In typical British fashion, it was recognised that many potential clients and businesses may not particularly relish discussing financial matters openly. Therefore, the development of the online portal emerged as a crucial component of My Credit Controllers' growth journey. This portal offers clients a discreet and efficient means to collaborate with My Credit Controllers. It allows businesses to manage their credit control needs without the necessity of in-person conversations, yet still provides a platform for them to input details about their outstanding creditors. This innovative approach ensures that clients can recover the money they are owed promptly and discreetly.
How have Business Lincolnshire Helped
Before seeking support from Business Lincolnshire, My Credit Controllers was already on a growth trajectory, but the workload was becoming overwhelming. Samantha knew she needed to hire an additional staff member and acquire office space to accommodate this expansion. It was during this time that she discovered Business Lincolnshire and decided to explore the support they could offer.
Business Lincolnshire provided essential guidance during this growth phase. Samantha met Toni Coupland, a Growth Hub Advisor, who became an integral part of her journey. Toni's role extended beyond mere advice; she set goals with Samantha and made her accountable for these at their quarterly meetings, whilst also offering continuous support. The support came in various forms, including access to valuable courses and grants. This assistance was instrumental in helping My Credit Controllers finance significant initiatives, such as the development of their online portal, for which they received 50% funding in grants.
The impact of Business Lincolnshire's support on My Credit Controllers has been substantial. Samantha describes the relationship with her advisor as akin to having an extended team member. Toni's regular check-ins, both personal and professional, have provided invaluable insights and opportunities for growth. Samantha participated in free training courses like the "Next Level Scale-Up Programme," which fuelled her ambitions, whilst providing an avenue to connect with other business owners. These type of networking opportunities have proved invaluable in fostering a supportive ecosystem for Samantha, where she can seek support from business owners further along their growth journey whilst imparting her own knowledge and giving support to smaller/ younger businesses that are looking to scale up similarly to My Credit Controllers.
Samantha says, "Find out who your local Business Lincolnshire Adviser is and meet for an initial chat. All the support you need is out there, and if you can get something for free, you should take it."
As My Credit Controllers continues to flourish, it's clear that their growth journey is far from over. With a new recruit joining the team, Samantha plans to step back from operational roles and focus on sales, marketing, and expanding the company's online presence. The goal is to achieve a turnover of half a million pounds and to be recognised as the go-to credit control referral service in the UK. The company is also working on integrating its portal into accounting software programs, offering even greater convenience to its clients.
As a testament to their success, My Credit Controllers is planning to celebrate their 10th anniversary with a day at the races, occupying a corporate box, a fitting reward for a decade of hard work and dedication.