Choosing a financing solution that’s right for your recruitment agency

Whether you are looking to start a recruitment agency, or take it the next level, a robust and reliable financing solution is often the key to success, says Alan Williams, HWB’s specialist for recruitment firms in the South.

Finance options have been around for decades, but the market has become increasing specialised in recent years, meaning that there are now a number of financing solutions specifically geared towards the needs of recruitment firms.

The level of financing required may depend on the point you are at in the growth of the business, but there are two specific challenges facing recruitment agencies:

• Cashflow gaps – this often has to be bridged, between paying contractors and receiving payment from the end customers.
• The sheer volume of administration required – from managing large numbers of contractors to legal compliance, this often costly exercise can take recruiters away from what they do best – building relationships and selling services.

Alan, Director at HWB, which works with businesses across Hampshire, Dorset, Wiltshire and West Sussex, said: “There has been a boom in the number of recruitment agency start-ups in recent years and this has coincided with a proliferation of financing providers.

“The early days for any recruitment firm are absolutely key for long-term business progression and so it’s important that recruiters choose a solution that is right for their needs. The vast number of financing products can seem like a minefield, but we can help advise on the most effective solutions.

“From streamlining the invoice process, to meeting your payroll obligations, we can help support you in finding a financing solution that is tailored to your business needs and will help it thrive.”

For an informal no-obligation chat around financing options for recruitment agencies, contact Alan Williams on 023 8046 1204 or email alan.williams@hwb-accountants.com