Neil Stephenson Spots Gap In The Market

Issue 26

South Tyneside entrepreneur Neil Stephenson has launched his much-anticipated first venture following the sale of the Onyx Group last year for £65m.

Tetrad Recruitment Group, which will break with convention by only employing people with no previous experience in the recruitment sector, will be an industry disruptor aiming to achieve revenues of £10m in three years.

The company will focus on sales, marketing and technology, the three areas that Neil has specialised in during his career to date. It will initially concentrate on the North East market but will scale up to become a national business.

Neil, 45, explained: “Having taken some time out, I identified a gap in the recruitment market which I aim to fill. Onyx was fundamentally a tech business that we grew very quickly and I believe that the knowledge and experience I gained in growing that operation can be transferred to other business models, such as the one we have in place for Tetrad.”

With five staff currently working for Tetrad, the ambition is to have 10 by the year end and 100 in three years, as the business rolls out across the UK.

Neil continued: “Our goal is to be a disruptor in the sector. Traditionally, recruitment companies have one team that looks after everything but we believe the way forward is to have two separate teams – an internal team focused on talent identification and an external sales team working with businesses that need talent.”

Sign-up to our newsletter

  • This field is for validation purposes and should be left unchanged.