Blogs
5 TIPS TO IMPROVE THE CREDIT CONTROL OF YOUR INVOICES
Placing a candidate on a permanent or contract basis can be the amalgamation of days, weeks or even months’ worth of work for a recruiter and means that the agency is almost in sight of the final reward… the fee! However, until the money is in the bank for the invoice raised, this profit remains…
Read More6 WAYS TO INCREASE THE VALUE OF YOUR RECRUITMENT AGENCY
Selling a recruitment agency is a dream for many new recruitment directors, especially if it can be sold for a life changing amount of money. However, due to poor planning, this may not be the case and often, the company will end up undervalued or continue to trade indefinitely. When considering selling a recruitment company, it…
Read MoreMAYACHI’S FIRST TEAM CONFERENCE – How Did It Go?
The annual TEAM Conference was held at Chesford Grange Hotel in Kenilworth on Friday 7th June 2024 for the members and service providers within the TEAM Network. TEAM celebrated its 30th anniversary this year and the event was a celebration of the achievements within the network along with providing the members with valuable insights into…
Read MoreHOW DOES CIS AFFECT YOUR RECRUITMENT AGENCY IF YOU ARE A NEW START UP?
As a recruitment agency start up, understanding how CIS can affect your new business is paramount. The Construction Industry Scheme (CIS) was set up in 1971 to combat the tax evasion occurring within the construction industry when paying subcontract workers. When we think of CIS Placements for recruitment agencies, the tax system overall has become more…
Read MoreINVOICE FINANCE COSTS EXPLAINED
Invoice Finance is often a key requirement for recruitment agencies making contract/temporary placements as it provides the funds to pay the candidates before the clients make payment. Although the facility can appear straightforward, understanding the jargon around the charges and how they are calculated can sometimes be alien to a recruitment director. When I meet with potential…
Read MorePAYE CONTRACTOR RATES – HOW TO CALCULATE THE TRUE CONTRACTOR COST
When paying a candidate via an Umbrella (or Limited Company), the pay rate that is agreed and paid over includes all the costs of the candidate. However, if a candidate is paid via the agency PAYE scheme, then the agency has several costs based on the candidate’s pay rate that need to be considered to…
Read MoreWHO SHOULD START A RECRUITMENT AGENCY?
We’re is often asked “Who is the ideal person to start their own recruitment agency?” and there are many different answers to this question. Sometimes the best recruiters do not always make the best directors of their own recruitment agency as they cannot manage their responsibilities when it comes to running a company, managing their cashflow…
Read MoreHOW DOES IR35 AFFECT YOUR RECRUITMENT BUSINESS?
Even though the IR35 legislation has been around since April 2000, there has always been confusion about how it works and how it affects a recruitment agency. This was exacerbated in April 2017 in the public sector and in April 2021 in the private sector, when the IR35 rules changed to put the responsibility of the…
Read MoreCASHFLOW TIPS YOUR RECRUITMENT AGENCY NEEDS TO KNOW
Recruitment agencies are always good at generating clients, registering candidates, and making placements, but when it comes to managing the company cashflow, it can be a minefield to the Directors. Understanding when clients will make payments, when to pay suppliers and how much is due to HMRC can make understanding the company cashflow is a complex…
Read MoreTHE TOP 5 HAZARDS OF INTERNATIONAL CONTRACT PLACEMENTS
Expanding into the world of overseas contract placements can be an easy way of increasing an agency’s turnover and profitability if they can identify a client requirement within their market. Many of the recruitment processes are the same when making international placements except the profit margins are often much larger which makes this very appealing for…
Read More