Blogs

When launching a new recruitment agency, there is a long checklist of tasks that directors must complete before they can begin trading. One of these tasks is appointing an accountant. However, this is often placed near the bottom of the list and not treated as a priority. By the time directors turn their attention to…

Invoice finance is a common requirement for recruitment agencies engaged in contract and/or temporary placements. It bridges the funding gap between the candidate’s payment and the client’s settlement of the invoice. However, the terminology used within an invoice finance quotation or agreement can often be complex and, at times, confusing. It is, therefore, essential to…

VAT (Value Added Tax) can be an enigma for new start-up recruitment agencies, as often they have not had to deal with VAT in their previous roles as employees. However, as a new agency owner, understanding VAT is essential as it is a constant and critical element of running a business. Recruitment agencies should register…

One of the most common questions asked by recruiters looking to start their agency is: “How much does it cost to start a recruitment agency?” While costs can vary depending on whether the company wants a flashy website or access to premium job boards, the overall cost of setting up a recruitment agency can be…

Over the past 15 months, MAYACHI has met with nearly 100 recruitment agencies to review their current back-office, funding, and accounting setups. In many cases, recruitment directors have limited understanding of their own financials or whether the work completed by their accountants is genuinely beneficial and adding value to the business. Often, due to this…

Invoice finance is essential for recruitment agencies making contract and/or temporary placements, as it provides advance funding to pay contractors before the client makes payment. This funding bridges the cash flow gap and prevents the agency from using its funds to pay workers. However, when an agency engages with an invoice finance provider, the quotations…

On 6th April 2014, HMRC introduced the Employment Intermediaries Reporting requirements. This quarterly report must be completed by recruitment agencies to declare payments made to workers they place with clients, provided these workers are not paid via the agency’s PAYE scheme. If the agency pays candidates through its own PAYE system, the relevant data—such as…

Recruitment agency directors should stay laser-focused on what they do best—making placements and scaling their business. Tasks outside this core remit, such as back-office operations, accounting, IT, marketing, and HR, are best outsourced to avoid distractions and keep the agency running smoothly. While keeping these services in-house may seem appealing, the hidden costs of hiring,…

On Wednesday, 26th March 2025 at 12.37, the Chancellor, Rachel Reeves, commenced her Spring Statement. The Chancellor delivered a comprehensive 43-minute statement to the House of Commons, which was punctuated by frequent interruptions, heckling, and jeering from opposition members – a typical scene of robust parliamentary debate. Despite the noisy atmosphere, she maintained her focus…

On Tuesday, 18th March 2025, the Recruitment Agency Expo kicked off at the Excel Centre in London for a two-day celebration of the recruitment industry. This bi-annual event is always well attended by recruitment owners who come to meet industry experts and suppliers, explore new technologies, and attend valuable seminars. MAYACHI was in attendance this…