Financial risks of late payments: How to protect your agency’s growth
As a recruitment agency owner, you know that cash flow is the lifeblood of your business. You’ve worked hard to build a strong client base, place high-quality candidates, and expand your operations. But when clients delay payments, your agency can face serious financial challenges that impact everything from payroll to growth opportunities. Risks of late […]
Tips for new education staffing agencies
If you are thinking about starting up your own recruitment agency and have decided education is the recruitment sector for you, then read on for a few useful tips from Flo to help get you started: Become accustomed with the Rules and Regulations: Recruitment agencies are responsible for making sure all their employees and […]
Recrucial Staffing Ltd Case Study – Joining Flo
Recrucial Staffing provide temporary and permanent highly-trained healthcare staffing across the UK at the most crucial of times. Our Midlands BDM Leanne Cahill chats with Lisa Ridge from Recrucial Staffing Ltd, in the next episode from our client endorsement video series. Lisa reflects on her experience of working with us, from what attracted her to us as a company […]
7 things to consider when launching a temp recruitment agency
Setting up a new recruitment agency can be a challenging task, but with the right planning and execution, it can be a rewarding and profitable business. Here are some key steps to follow when launching a temp agency: Develop a business plan: This should include your company’s mission statement, target market, services you will offer, […]
What are the key advantages of using recruitment finance
As a new temp recruitment agency owner, funding your business may well be a key concern. The right recruitment finance solution can give you a competitive edge from the get-go and enable growth at a pace to suit you. The meticulous management of cash is crucial to ensure that your agency remains viable. How […]
3 reasons to credit check your customers before supplying temp staff
By performing a credit check on any prospective customers, you will receive a report on that company’s financial background. This typically is a 6-year timeframe however can vary depending on which company performs the check and will present to you all loans, credit card purchases, mortgages and other borrowings that company has had a part […]
5 signs you are ready to take your temp recruitment agency to the next level
Growth is an important part of any business, but as a temp agency owner how do you know you are ready to take things to the next stage? Read on to determine if you have reached this stage of your business life… Passion You have met your initial, short-term goals and it’s time […]
How can you ensure your invoice financing is trouble free
Cashflow management is crucial to the success of any temp recruitment agency, especially when payroll commitments dictate recruitment staff are paid weekly and before clients have settled invoices. Invoice financing for recruitment companies is a great short-term way to plug the gap between invoice payments and it can provide you with ongoing access to money for […]
Medcare HQ Ltd case study – Taking Responsibility
Background: Medcare HQ Ltd is a specialist provider of healthcare professionals based in Leeds. Since the company started over 3 years ago, it has grown at an impressive rate with both external placements and internal staff numbers increasing significantly. Adopting a rigorous approach to candidate vetting, Medcare recognised the importance of supplying high quality, well […]
Recruitment finance, is it time for growth this year?
If you are considering branching out on your own in the recruitment world or looking to grow your existing temp recruitment agency, a focus on cash flow is essential to ensure your plans don’t fall flat! Cash flow is crucial to all businesses and their success, but by the nature of the industry and its […]
Why temp recruitment agencies should know about invoice finance
Controlling the cash flow of any temp staffing agency can prove a challenge at times, with the obligation to often pay workers weekly while clients work to 30 day credit terms. Insufficient funds can mean quickly the growth of a business can be impacted and ultimately put the overall business survival at risk. So what […]
5 Reasons Why Recruitment Agencies Fail
It is estimated that around 80% of new recruitment agencies fail within the first two years, which seems such a high figure to contemplate but why is this? Here are some of the reasons that recruitment agencies can become unstuck… 1. Flawed vision A focus on the right aspects of the business that will guarantee […]
