Peopleforce: Protecting payroll for a specialist workforce    

Brighton-based Peopleforce Recruitment specialises in providing contract workers to the aviation and healthcare sectors in the UK and Europe. Peopleforce is an experienced exporter, placing nearly 90% of its candidates with overseas companies. It relies on advance payment schemes protected by trade credit insurance to ensure timely payment to its candidates.

The challenge

After the outbreak of COVID-19 and the implementation of global travel restrictions, Peopleforce’s credit insurer withdrew cover for a £2 million contract with an aircraft maintenance company in Estonia. This put the company’s ability to make advance payments to its contractors in Estonia and Turkey at risk.

The solution

Peopleforce reached out to UK Export Finance (UKEF) for assistance. UKEF provided a bespoke Export Insurance Policy (EXIP) that helped bridge the financing gap created by the withdrawal of their original credit insurance. This tailored solution ensured Peopleforce could maintain financial protection for their advance payments to contractors.

The impact

UKEF’s support continues to enable Peopleforce to face new challenges while maintaining a year-on-year growth record. In 2024, Peopleforce obtained a new EXIP to insure a contract of over £400,000 with a Serbian client in the aerospace sector. The client was undergoing a restructuring process, which meant that trade insurers had less appetite to provide cover. But thanks to EXIP, Peopleforce was able to continue to deliver on its contract.