A startup compliance firm for the car dealerships and garages has expansion on its radar after reaching £1m in turnover. The Compliance Guys, which was established during lockdown in 2020, is opening a new office in Fforestfach, Swansea creating 20 jobs.
Regulated by the Financial Conduct Authority (FCA), the firm helps motor traders and retailers with FCA authorisation via an externally managed online process, while providing ongoing compliance support while facilitating introductions to lenders and brokers.
It was founded in 2020 by Jon Rix and Nick McDonald, two local car dealers with 26 years experience in the automotive industry. They have now seen significant growth despite current economic conditions and large fluctuations in car prices.
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“Since starting the company during lockdown our plan was always about helping the ‘ordinary folk’, mainly small to medium sized independent car dealers and people who were often overlooked in favour of the big corporation,” said Mr Rix.
“Today, we have over 600 ongoing compliance subscription customers and have also successfully supported over 900 authorisations. We’ve developed our own bespoke compliance sales system and just released an innovative, patented Test Drive App.”
“It’s great to be able to bring more jobs to Swansea and we’re excited about our new office which we opened to support the demand of our first office in Wolverhampton,” he added.
“This year is all about growth and we’re looking to increase the new Swansea office staff to 25 by the end of the year.”
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