Blogs
THE IDEAL TRAITS OF A NEW RECRUITMENT AGENCY DIRECTOR
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,…
Read MoreRECRUITMENT AGENCY EXPO – BIRMINGHAM – 9th-10TH OCTOBER 2024
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…
Read MoreFINANCE, SCALE, EXIT – MAYACHI’S FIRST JOINT SEMINAR WITH NORDENS AND METROBANK
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…
Read MoreYOUR CLIENT HASN’T PASSED A CREDIT CHECK, WHAT NOW?
When a recruitment agency is looking to make a placement, it is advisable to complete a credit check on the client to find out their financial viability before allowing the candidate on site. This is particularly prevalent when making contracts or temporary placements as often the agency will need funding (often provided by Pay-And-Bill or…
Read MoreWHY NOT KEEPING YOUR BOOKS UP TO DATE CAN MAKE YOUR RECRUITMENT AGENCY GO BUST!
Recruitment directors are often not financial experts as their skills lie in securing placements, registering candidates and growing their agency via sales. As business owners and directors you need to invest time into ensuring that you understand your responsibilities and stay on top of your financial data to avoid HMRC fines and investigations, and why…
Read More5 REASONS YOUR PERM-ONLY AGENCY SHOULDN’T TURN DOWN CONTRACT BUSINESS
Just because you’re a perm-only agency, you shouldn’t turn down contract business. In general terms, recruitment placements can be broken down into permanent placements and contract/temporary placements with some agencies specialising in providing one or the other to their clients. This can sometimes be dictated by the industry the agency are working in, the clients…
Read MoreWHAT IS A PERSONAL GUARANTEE ON AN INVOICE FINANCE ARRANGEMENT?
Invoice finance is a staple of the recruitment industry for agencies making contract and temporary placements. These bridge the funding gap between when the candidate needs to be paid before the client makes payment. These facilities grow as the agency’s turnover increases and are a great way to provide the funding required. To secure an arrangement,…
Read MoreARE YOUR TOP BILLERS LEAVING TO START THEIR OWN AGENCY? HAVE YOU CONSIDERED THE FOLLOWING SOLUTION?
One of the most challenging aspects of growing a successful recruitment agency is retaining great staff within the business. The best staff members will often be top-producing consultants, managing large accounts and even running teams within the business. If your top billers leave to start their own agency, this could mean the loss of profit, loss of…
Read MoreARE ACCOUNTANTS BECOMING LAZY BY GETTING CLIENTS TO COMPLETE THEIR OWN BOOKKEEPING?
In the age of rapid advancements within online accounting software such as Sage One, Xero and QuickBooks, to streamline and simplify accounting processes, there has been an increased drive from accountants for companies to do their own bookkeeping and accounting submissions. This will involve an accountant setting up a licence and providing some limited training…
Read MoreSHOULD I HAVE A SHAREHOLDER’S AGREEMENT FOR MY RECRUITMENT AGENCY?
As an owner of a recruitment agency, you not only have the title of being the Director of the business, but you also own shares in the business, allowing you to take a portion of the profits as dividends and benefit financially should the company be sold. If there is only one director and shareholder…
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