Blogs

The Construction Industry Scheme (CIS) was introduced in 1971 to address tax evasion in the construction industry, particularly when paying subcontractors. While many industries have adopted more digitized tax systems, the construction sector still relies on CIS to ensure proper tax deductions on payments made by clients (contractors). Even though recruitment agencies aren’t directly supplying…

With the Christmas period approaching, some recruitment agencies may experience slower periods when clients start to ease off on their recruiting, and certain clients will reduce their hours during the Christmas/New Year break. This gives the agency director a great opportunity to use their time wisely to look towards 2025 and start January with a…

Invoice finance is the most common way of funding contract and temporary placements for recruitment agencies. Invoice finance companies like working with recruitment agencies as the funds are lend against timesheet-based work which is almost guaranteed to be paid so the risk to the funder is minimal. However, invoice finance is often a new term…

On Tuesday 12th November 2024, MAYACHI joined RecruiterZone for a Crowdcast session regarding the upcoming changes proposed in The Employment Rights Bill. This session was aimed at recruitment agencies to help them understand what is changing, when they would come into force and what impact this will have on the industry. The Crowdcast started at…

As we are coming to the end of the current year, many recruitment businesses will be considering their plans for next year so they can target their staff and ensure that they meet their financial goals for the future. However, most recruitment directors do not know where to begin when it comes to creating their…

Growing a recruitment agency often starts with a director hiring recruitment consultants and maybe looking after an element of the back office themselves with an external accountant. As the business starts to expand and the burden on the back office and accounts functions increases, the director will need to decide on how these aspects should…

On Wednesday, 30th, October 2024, at 12.37, the first female Chancellor, Rachel Reeves, commenced the first Labour Budget for over 14 years.  The speech was its usual rowdy affair within the Westminster chamber, and the Chancellor spoke for over an hour and 20 minutes.  The speech focused on how the Labour government would plug the…

Not everyone who works in recruitment is cut out to start their own recruitment agency. There could be various reasons, including a lack of experience, skillset, or motivation to become a company director. Furthermore, although some recruiters are fantastic at making placements, they may struggle with managing the other aspects required to run a business,…

The Birmingham Recruitment Agency Expo opened on Wednesday, October 9th, 2024, for two days of celebrating all things recruitment and the remarkable recruiters who make the industry what it is today. Rec Expo, held at the Birmingham NEC for the past 12 years, features a blend of industry supplier stands, insightful seminars, and valuable networking…

On Thursday 3rd October 2024, MAYACHI joined Nordens Accountants and Metrobank Invoice Finance at the Metrobank office in Holborn for a Panel Networking session.  This session was aimed at recruitment agencies to help look at ways to help manage their cash flow, incentivise key employees via EMI schemes, and strategies to maximise an agency’s future…