London, United Kingdom, April 27, 2008 --(PR.com
)-- Docklands based start-up Powerchex ranked No 8 in the list of the UK’s top 100 new businesses, compiled by Crimson Business’ Startups.co.uk.
Started with two employees and one desk in 2005, Powerchex now employs 36 people and screens job applicants for the nation’s banks and financial companies. They are currently one of the UK’s fastest growing companies, growing at an annual rate of 220%.
Back in 2005, Powerchex’s founder Alexandra Kelly originally asked the BBC dragons to invest in her idea but when they said no, she decided to go it alone. Three years later Powerchex is well on its way to achieving revenues of £2m in 2008.
The company attributes much of its success to hiring from within the Docklands community as well as working with local universities to provide opportunities for recent graduates.
“Powerchex are a company who understand the mutual benefits of engaging talented students and graduates on challenging business projects” says Gareth Lewis Enterprise Services Manager at the University of East London. “Since the company started in 2005 they provided many placement opportunities via UEL which I believe have contributed significantly to their rapid business growth as well as enhancing the career prospects of local students”
Managing director Alexandra Kelly said, “Giving opportunities to recent graduates has been a ‘win-win’ situation for Powerchex. The graduates get a foothold in the employment market while Powerchex gets very motivated, bright employees who can get moulded to the powerchex values and working style”.
Crimson Business’ Startups 100 lists the most exciting and innovative emerging small companies predicted to become the big businesses of tomorrow.
Matt Thomas from Crimson Business said, "Powerchex's place in Startups 100 was never in doubt. They have shaken up a staid industry by providing time and cost savings and the superior service it craved.” He continues, Alexandra Kelly is evidence that if you think 'I could do that better', you probably can."
Notes to Editors:
Startups.co.uk is the UK’s No. 1 website for people starting their own business and is published by Crimson Business Ltd. www.startups.co.uk/100
Companies were assessed on originality of concept; strength of business model; turnover; evidence of future revenues; proposition to investors; quality of management; and potential to disrupt existing markets.
To read the full Startups 100 list and profiles of all companies, visit:
Powerchex is the UK’s premier pre-employment screening firm for financial institutions. Based in the City of London, Powerchex checks the background, employment history, criminal records and professional qualifications of applicants on behalf of financial institutions. It sets the industry benchmark of 5 days for a background check.
In 2007 Powerchex won the NatWest ‘Growth Business of the Year’ award and Powerchex’s MD was named “Business person of the Year” as well as being the NatWest Startups ‘Service Business of the Year’ winner. In 2006 Powerchex also reached the national finals in the the HSBC Start-Up Stars awards.