Blogs
ADVANTAGES OF RUNNING AN INTERNAL PAYE SCHEME FOR YOUR RECRUITMENT AGENCY
Recruitment agencies that provide temporary or contract placements that fall inside of IR35 often use an external provider such as an umbrella company to process the deductions and payments to their candidates. This will often remove the administrative burden on the recruitment agency and ensure the candidate is paid compliantly. However, there are advantages of running an…
Read More“MY RECRUITMENT AGENCY IS TOO SMALL TO NEED A NON-EXEC FINANCE DIRECTOR”
Since launching MAYACHI in January, I have spoken to numerous recruitment directors of various sized recruitment agencies. Whilst most have instantly recognised the need to engage my consultancy services, some Directors have also said, “My recruitment agency is too small to need a non-exec finance director” or “I don’t think I’m big enough to use MAYACHI…
Read MoreHOW DOES INVOICE FINANCE WORK FOR RECRUITMENT AGENCIES?
Invoice finance is required by most recruitment agencies that are making contract or temporary placements and provides the funding to pay the contractors before the client makes payment. One of the questions that recruitment directors often ask us is how the funding arrangement works as it can seem like a very complicated process. At MAYACHI…
Read MoreSPRING BUDGET 2024 – WHAT DOES IT MEAN FOR RECRUITMENT?
On Wednesday 6th March 2024 at 12.33, the Chancellor, Jeremy Hunt, commenced his Spring Budget 2024 speech. The speech was a rowdy affair within the Westminster chamber (and was stopped on multiple occasions), but many of the details were known ahead of the Chancellor’s announcement. The main focus circled around tax cuts for workers and…
Read MoreWHAT TO CONSIDER WHEN MAKING INTERNATIONAL PLACEMENT
Placing candidates in overseas companies can be a very good way of generating additional profit and helping your clients if they have an international reach. Often overseas placements can be at much higher profit margins depending on the country and the complexity of the roles being filled.
Read MoreWHAT FACTORS CAN AFFECT YOUR INVOICE FINANCE FUNDING?
Funding for a recruitment agency making contract and/or temporary placements is vital as the candidates will need to be paid often before the client makes payment on the invoices raised. If the finance arrangement has been set up correctly, there should be no issues with the prepayment being provided to cover the candidate payments until the client makes payment.
Read More5 REASONS WHY PERMANENT RECRUITERS SHOULD CONSIDER CONTRACT PLACEMENTS
Most new recruitment agencies will begin their journey by exploring permanent opportunities as they can provide that initial cash-flow injection. There are also agencies who only specialise in placing permanent candidates due to the consultants’ expertise in making those kinds of placements or their clients favouring workers on their books. However, there are many good financial…
Read MoreIS YOUR RECRUITMENT AGENCY AT RISK BY NOT HAVING CREDIT PROTECTION?
Once a recruitment agency makes a placement, the risk to the agency is whether the client will make payment within the terms agreed.
Read More5 REASONS WHY NEW START-UP RECRUITMENT AGENCIES FAIL
Every year many new start-up recruitment agencies are formed all trying to be as successful as possible to ensure that they can continue to grow in the years beyond. Here are the 5 reasons they fail.
Read MoreNEW YEAR IN THE RECRUITMENT INDUSTRY… PLANS YOU SHOULD BE MAKING
January is the time of year when most people look at the year gone by and make resolutions for the new year ahead. These resolutions should also extend to a person’s working life and as such, make important decisions on their next steps in business whether as a new or existing recruitment agency owner. START YOUR…
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