August 12, 2020 @ 10:50 by Alison Cowie
A Newcastle-based insurance brokers has increased its turnover by 50 per cent and doubled its workforce due to a boom in demand for its services since the coronavirus pandemic.
Bespoke Financial Newcastle Limited, which is the brainchild of fTerry Blackburn is now on track to reach over £1.2m turnover by the end of the year after a rise in people taking out life insurance and income protection.
The company has also undergone a recruitment drive to service demand, bringing its total head count to 28, and hopes to increase this to 100 by the end of 2021.
Bespoke Financial Newcastle has had support and financial coaching advice from Robson Laidler Accountants, whic has put systems in place to help the business grow sustainably giving real-time information, a cashflow forecast and operational review to allow it to recruit and make key business decisions as well as invaluable tax advice.
Terry Blackburn (pictured front right) said: “Bespoke Financial was already on track to reach our targets but the beginning of the pandemic in March saw our enquiries escalate more than imaginable.
“The pandemic has made people aware of their own mortality and while people have been furloughed they have had more time to reflect and review their finances. People who have always been meaning to take out that policy but never got around to it, have done.”
Nick Wilson (pictured front left) head of Business Innovation at Robson Laidler added: “Bespoke Financial is an example of a business that has seized the opportunity that the pandemic has thrown at business owners and grasped it with both hands. With calculated measures in place to adapt and thrive at such speed including an operational review, Terry and his team have worked incredibly hard and deserve this success. I can’t wait to see what the future holds for the business.”