James Caan, chairman of Hamilton Bradshaw Private Equity, has launched its new initiative to help recruitment SMEs.

HB RIDA is a joint venture between Hamilton Bradshaw and the Recruitment Industry Development Agency (RIDA) and, with a development capital pot of £2m, offers owner-managed recruitment firms support in building their business.

At the launch Caan said: “The UK staffing industry is one very close to my heart and houses some of the best entrepreneurs in the country. However, many go unsupported and fail to deliver significant turnover and value in line with the owner’s vision.

“We have put together a series of development programmes in conjunction with RIDA to allow businesses to experience growth and sustainable shareholder value.”

Helen Reynolds, managing director of HB RIDA and chief executive of RIDA, added: “The combined expertise of Hamilton Bradshaw and RIDA means the staffing industry really does have the best support around. With programmes specifically developed to focus on support, growth and value, the SME marketplace is now fully equipped to experience a significant change.”

As originator of the initiative, Chris Ledbury, director at HB RIDA and MD of HB Ventures, added: “I was receiving on a regular basis communications from the market saying ‘Help me, mentor me and ultimately how do I exit my business?’

“HB Ventures has seen first hand how important sound support and advice is within early stage for SME businesses. Now we are able to offer owners an opportunity to collect a significant return on their investment, something no-one can afford to ignore.”

For more information, see Recruiter, 15 April.