Blogs
ARE 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…
Read MoreWHAT ARE THE BENEFITS OF INTERNATIONAL RECRUITMENT?
Our clients often ask me “What are the benefits of international recruitment?” or “Is it worth looking to Europe, the US and beyond?” Based on my years of experience working with recruitment agencies who have made international placements, my answer is always YES! There are so many benefits to making placements overseas and the rewards are…
Read MoreHOW EASY IS IT TO MOVE FROM A PAY-AND-BILL SOLUTION TO YOUR OWN INVOICE FINANCE FACILITY?
When starting to make contract or temporary placements, a recruitment agency may initially decide to use a Pay-And-Bill solution which looks after the client’s invoicing, funding of the candidate payments and distribution of profit minus charges based on when the timesheet is approved. These facilities work extremely well in the early days of a recruitment agency’s…
Read MoreDO YOU KNOW HOW TO READ YOUR OWN COMPANY ACCOUNTS?
Think about that question for a second…do you know how to read your own company accounts? Any company, limited or LLP, that is registered at Companies House, must present a set of company accounts each year within 9 months of their year-end. These accounts tell the story of the year gone by and the financial stability…
Read MoreWHY INVOICE FINANCE COMPANIES SOMETIMES SAY “NO” TO CONTRACTOR FUNDING
Invoice finance is a common funding solution for recruitment agencies making contract and/or temporary placements. This arrangement provides funding against client invoices, normally to a pre-payment of between 80-90% of invoice value which should be sufficient to pay the candidate until the client makes payment. Invoice finance companies like to provide funding against contract/temporary placements…
Read MoreTRUE COSTS OF STARTING A RECRUITMENT AGENCY
Starting a recruitment agency is not as expensive as it often appears and can be done on a “shoestring” budget initially until the business generates placements and receives funds. Understanding what the true costs of starting a recruitment agency are and where to go to get it is important to avoid the start of your…
Read MoreARE YOU PROTECTING YOUR AGENCY PROFIT FROM CURRENCY LOSSES?
International placements have always yielded a greater profit margin for agencies that have the capability of filling these for clients. The process of making the placement overseas can be similar to making a UK placement with much larger rewards. However, there are several considerations when making international placements, with one of the main ones being how…
Read MoreHOW TO SECURE AN INVOICE FINANCE ARRANGEMENT FOR A NEW RECRUITMENT AGENCY
When a new recruitment agency launches, its directors may initially look at making permanent placements to build up some cashflow as they do not believe they would be eligible for funding on contract placements. They may also look at Pay-And-Bill solutions as a way of funding their contractors without understanding that this can be an expensive…
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