Blogs
JARGON BUSTER – INVOICE FINANCE
Invoice finance is a core funding solution within the recruitment industry, particularly for agencies operating in the contract and temporary space, where candidates are often paid before clients settle their invoices. However, when reviewing a proposal from an invoice finance provider, agencies are often faced with complex terminology. Understanding these terms is essential before committing…
Read MoreIS YOUR AGENCY FINANCIALLY PROTECTED AGAINST CLIENT RISK
When your recruitment agency successfully makes a placement, it should be a moment of celebration. But behind every placement sits a business-critical question: Will the client pay on time? Will they pay at all? For agencies focused on permanent placements, the financial risk is typically lower. There are usually minimal upfront costs before payment is…
Read More5 MINDSET CHANGES YOU NEED TO MAKE WHEN STARTING YOUR FIRST AGENCY
The transition from being a top-billing recruitment consultant to running your own agency is a significant leap. Not only do you take on the responsibilities of a business owner, but the shift from employee to director brings an entirely new way of thinking. Every decision you make in your first year can have a lasting…
Read MoreUNLOCK MORE OPPORTUNITIES WITH CONTRACT PLACEMENTS
For many recruitment agencies, the journey starts with making permanent placements. They offer a relatively quick return, helping to build early cash flow and momentum. Some agencies even choose to specialise purely in permanent hires, often driven by consultant experience, cost, risk management, or client preference. However, focusing solely on permanent recruitment can mean missing…
Read MorePAY-AND-BILL COMPANIES… WHAT YOU SHOULD BE ASKING
Pay-and-bill companies are a resource that recruitment agencies can use to provide funding and administrative support for temporary and contract placements. These facilities typically handle timesheet processing, client invoicing, and funding candidate payments (via PAYE, umbrella, or limited companies). They then pay the agency’s profit, minus their charges often as soon as the timesheet is…
Read MoreCUT COST AND GAIN ACCURACY – THE POWER OF OUTSOURCING YOUR BOOKKEEPING
Bookkeeping is a fundamental part of any business’s financial health, but for many recruitment business owners, it can become a distraction that takes time away from generating revenue. Bookkeeping involves far more than simply recording money in and out. It includes administrative tasks such as managing receipts, raising sales invoices, tracking mileage, and reconciling accounts…
Read MoreBUSINESS EXPENSES – WHAT CANNOT BE CLAIMED
As a recruitment agency owner, there are many expenses incurred in running your company that may be allowable by HMRC, provided they meet the definition of being “wholly, exclusively, and necessarily incurred” for business purposes. These allowable expenses can be offset against profits, reducing the company’s Corporation Tax liability. However, there are common misconceptions around…
Read MoreEXPENSIVE MISTAKES TO AVOID IN YOUR RECRUITMENT AGENCY
Starting your own recruitment agency is a very exciting step and can be highly profitable. However, it also comes with its own risks.While the opportunity to build something independently is appealing, many new business directors fall into common traps that can hinder growth or even threaten the business altogether. Here are ten of the most…
Read MoreHOW TO ENSURE YOUR INVOICE FINANCE ALWAYS PROVIDES MAXIMUM FUNDING
For recruitment agencies supplying temporary or contract staff, invoice finance is often the lifeblood of the business. It enables agencies to pay workers weekly or monthly, before receiving payment from clients. While most invoice finance providers offer funding of around 85–90% of the value of approved invoices, this level of funding is only maintained if…
Read MoreIF YOU’RE DOING YOUR OWN BOOKKEEPING, YOU MAY BE MAKING THESE MISTAKES…
Technology has played a major role in streamlining and improving the accounting industry over the past 30–40 years.Bank feeds, automated double entry, journal creation, and real-time reporting have made bookkeeping faster and more accurate than ever before. However, as accounting software has become more accessible, MAYACHI has seen a growing trend: some accountants reduce their…
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