Clarity & Calm for New Agencies
Whether it’s your first solo business or a new venture for an experienced recruitment director, you know your market, your candidates, and your opportunities.
Still, you can be deterred from making a move by uncertainty about cashflow, contractual relationships, and numerous things a recruiter can’t be expected to know.
Let us help you realise
We support you in a number of ways, including:
- We can register your company & apply for taxes on your behalf or will guide you through the process
- We will set up & administer your pension
- We provide you with watertight terms of business & contractual documents
- We review all client contracts for you to guard against hidden liabilities
- We protect you from pitfalls and delays and ensure you set up compliantly
- We can set you up with our outstanding CRM, CentricFlow
What happens next?
Once you are ready, our 100% funding & processes prevent you from having to worry about cashflow, ensuring that your workers are paid, your invoices raised & insured, your margin paid and your debt collected seamlessly.
You remain in control of your business but have the safety net of expert guidance. We do everything on behalf of, and in the name of your agency, so you are building your brand & a valuable asset.
Running with your own ideas and answering only to yourself: the prospect of being your own boss is exciting, and the reality can be too!
But first, you need to have the right partners in place…
The most successful business owners are the ones who know what ‘going it alone’ really means. Accepting support in the areas you’re less familiar with gives you more freedom to excel in the areas you know like the back of your hand.
With our 100% recruitment finance and back office support, you can strike the right balance to hit the ground running with your new venture.
There are various funding options available to new agencies and the one you chose can have long-lasting implications for your business. We believe our 100% recruitment finance model is the best long-term option for start-up agencies and if you aren’t ready for this, we recommend our Freedom product. But what are your alternatives?
Factoring & Invoice Discounting
These models work for larger and more mature businesses, if they have the right resources in place, but they are the wrong solution for start-ups due to cashflow issues and the restrictions implicit in these solutions. Hazards new agencies face include:
- These products only advance 80-85% of invoicing, so if you are growing, you will always struggle for funds
- Available funds will be impacted by concentration limits, funding limits and the speed with which your clients pay
- Intense stress of worrying each week if your clients will pay on time so you can pay your contractors
- Low headline fee is inflated by the interest charged daily on funds outstanding, minimum monthly charges, drawdown costs, and re-factoring costs if an invoice exceeds terms
Talk to us to discuss these issues in more detail and to find out how our model avoids these drawbacks.
LLP & Funder Principal Models
Limited Liability Partnerships or LLPs, otherwise known as an introducer or funder principal model, are where the agency invoices and pays workers in the name of the funder for a minimum contract term of 12 months. Disadvantages include:
- Your company turnover is not your total sales, but just the profit you make after your provider’s fees
- This has financial implications for the company and for directors when tendering for business, applying for grants, loans or mortgages
- You incur extra payroll for apprenticeship levy as your provider’s payroll is in excess of £3m per year
- You aren’t building your brand or a valuable asset
- You can feel that you are still working for someone else instead of running your own business
Talk to us to discuss this in more detail and to learn how we avoid the need for such a restrictive arrangement.
Shane Whittaker, Managing Director
The team are second to none, hence the reason we sign a new contract with them each year! Any request is dealt with promptly, whether it be client or candidate-related. We may get a
slightly cheaper management fee elsewhere but we know we would lose the personal touch and the efficiency that we like & require!
Highly recommended, especially for anyone just starting out!
Impact Training & Employment
We contacted them after been recommended by a friend whom is also a customer. As we were looking for a company to help us set up our recruitment business in a hurry and they were more than happy to help and extremely accommodating. We were assigned our own Account Manager who we found was very helpful and explained the whole process in detail, very professional and highly knowledgeable. Always happy to help in any situation large or small.
As a new business, we needed a little hand-holding to make sure the clients we were going to be using were compliant also we were following all HMRC guidelines. We find all staff very friendly, helpful and supportive. I would highly recommend them to any new business looking for a payroll and funding company
Eoin McDonagh, Managing Director
I have had the privilege of working with them for a number of years now and I have found them to be professional, personable and very attentive.
I have no hesitation in highly recommending the team as a fantastic partner.