IN this week's SME Focus two recruitment entrepreneurs explain that parts of the oil services market are in rude health in spite of the plunge in crude prices.

Name:

Stuart Hunter and Cameron Taylor.

What is your business called?

Advance Global Recruitment.

Where is it based?

Edinburgh and Dubai.

What does it produce, what services does it offer?

It's a specialist recruitment consultancy focusing on the oil and gas sector.

Who does it sell to?

AGR works with the majority of the subsea contractors within the remotely operated vehicles (ROV), survey and inspection and drilling sector. Our business is split 60/40 - UK to international clients in terms of sales generated and 2014 was the first year where our largest client was UK-based. In previous years they have mainly been from Italy and Holland. The personnel we work with are also based all over the world.

What is its turnover?

Approximately £9 million. The reduction in the oil price since June has certainly had an effect on the industry as a whole, with some projects being cancelled or postponed, which has caused uncertainty in some sectors. Our permanent division has reduced as a result, which is to be expected as companies avoid adding fixed costs to their bottom line. But this has been more than offset by an upturn in activity supplying freelance contract specialists which has always comprised the bulk of our business. In this area, we saw a 35 per cent increase in fees generated in the first quarter of 2014-15.

How many employees?

17.

When was it formed?

15th March 2011.

Why did you take the plunge?

Cameron and I worked together for NOW Recruitment on a trades and labour desk. Cameron was there for about five years and I was there for three. We realised early on that we wanted to start our own recruitment company and talked about it during an incentivised trip to Dubai. When we returned, we started to put our ideas into action, looking at new markets because we didn't want to leave NOW on a bad note by taking their business, and decided to move into the international oil and gas industry.

One of the inspirations for launching our company was James Caan's book, The Real Deal, which we had both read. Caan says there comes a point in any decent recruitment consultant's career when he'll think 'I can do this myself'as the returns are significantly higher if you're working for yourself rather than for someone else.

What were you doing before you took the plunge?

Cameron and I took slightly different routes into the recruitment market. Cameron went straight from school to work for Standard Life, where he stayed for three years before landing a job with Now Recruitment. After school I went to Napier University to study Sports Science as I thought I'd follow my parents and become a PE teacher. After leaving university I travelled round the world for a year with a few mates and, on returning to Edinburgh, I landed a role at NOW. Initially, I thought I'd do it for a year or so, then go back to uni to do a teacher training course, but following a successful start I realised I'd found my calling and the rest is history.

We both handed our notice in on the same day, 15 February 2011.

What was your worst moment?

Initially we were supposed to have an investor in the company who had agreed to contribute £20,000 for a fairly large percentage of the business but, at the last minute, he decided against it. It seemed like a huge setback at the time because, even though we'd been planning to leave Now for a year we hadn't saved anywhere near enough money to support ourselves and now the investment we'd been banking on had walked away. We approached several banks for a small loan which, fortunately, we were successful in getting and this allowed us to pay ourselves a small salary whilst we worked every hour to make the business grow. Thankfully we managed to secure a few clients quite early which meant money started to come in.

What do you most enjoy about running the business?

I enjoy everything about running our business but mainly seeing our team grow. Some of our staff have been with us for more than three years.

What do you least enjoy?

Long-winded meetings with accountants and lawyers.

What are your ambitions for the firm?

We plan to open offices in Houston and Singapore and this would then give us a fairly strong geographical position to enter markets we don't currently target. Opening in these regions will allow us to work in Asian and US markets without worrying about time zones. We've been approached by several investment companies looking to buy us out and, although we've not taken any up on their offer, we've not ruled out this option in the long-term.

What are your five priorities?

Organisation, time-keeping, loyalty, planning and respect.

What could the Westminster and/or Scottish governments do that would help?

A large proportion of the UK banking industry is publicly owned and it should not be beyond the wit of government to apply more pressure on the banks to make funding available to credible, promising small businesses. We also think there should be a reduction in Corporation Tax for new companies to help with initial growth. Start-ups which can show they're reinvesting profits in the business to generate additional employment and business opportunities should be able to benefit from a lower rate of tax.

What was the most valuable lesson that you learned?

We were told by a business colleague that to remain successful as a business we must be 'an inch wide and a mile deep'. This is something that has stuck with us since and really helped in everything we do. When new employees join they're expected to really focus on their market.

How do you relax?

We work in a pressurised environment and have a lot of responsibility like many business owners, so it is crucial that both Cameron and I take the tie to chill out and relax. We both play regular sports and are keen footballers and I would love to say we are both great golfers but that would be a lie. We can hack our way round the course as it's a good way to entertain our clients. I also enjoy long dog walks at the beach with Rosie my chocolate lab and my girlfriend Gaby.