Invoice Discounting for a Recruitment Agency
Invoice discounting for a recruitment Agency is an alternative asset based funding method to ease the financial pressure on recruitment agencies so they can trade and grow successfully. There are a wide range of alternative specialist financial funding solutions available to keep cash flowing smoothly Invoice Discounting is just one. From invoice factoring to payroll finance, we’ll tailor services to meet your companies needs, whether you’re a start-up or an established business we will ensure you have funds to meet the wages bill each month.
There are various types of business models in the recruitment agency sector – full service employment agencies, employment businesses, permanent staff recruitment agencies and temp/temporary staff recruitment agencies. All may require funding at some point, invoice discounting my be the ideal solution.
Sources of Invoice Discounting
Invoice discounting and factoring is a type of invoice finance that has helped the recruitment industry for over 20 years. Invoice discounting and factoring is able to provide a full range of flexible working asset based working capital facilities and cash flow solutions for growing agency businesses throughout the UK.
- While there are many sources of business funding available for a recruitment agencies, invoice discounting & invoice factoring are by far the most common.
- It important to understand the pros and cons for each source of funding such as; bank funding, funding through friends and family, investors pooling funds together or government start up funding.
Fund Invoices For Temp Recruitment Agencies
- One of the key reasons new employment agencies go out of business in the first eighteen months of operation is the difficulties in paying temporary employees.
- A temp recruitment agency must be prepared to pay wages usually this is done weekly.
- Small and start up recruitment agency will not have cash reserves, to fund on going contracts.
- Temps expect to be paid daily, weekly, bi-weekly or monthly without fail.
- Temp staff will just go to another recruitment agency that can pay then so ensure your agency has the funds.
Types Of Recruitment Agencies
Types Of Recruitment Agencies That Invoice Discounting Can Assist
- Accounting and financial services recruitment agencies.
- Executive search recruitment agencies.
- Childcare recruitment agencies.
- Construction recruitment agencies.
- Drivers recruitment agencies.
- Education recruitment agencies.
- Engineering & technical recruitment agencies.
- Hospitality recruitment agencies.
- Industrial recruitment agencies.
- Interim management association recruitment agencies.
- Legal recruitment agencies.
- HR recruitment agencies.
- Marketing recruitment agencies.
- Media recruitment agencies.
- Communications recruitment agencies.
- Medical recruitment agencies.
- Nursing recruitment agencies.
- Office professional’s recruitment agencies.
- Pharmaceutical & scientific recruitment agencies.
- Sales & retail recruitment agencies.
- Shipping, air & rail recruitment agencies.
- Social workers recruitment agencies.
- Specialist “Recruitment to Recruitment “recruitment agencies.
Invoice Finance and Invoice Discounting is a fast, flexible and cost-effective way of bridging the cashflow gap. There are 2 types of Invoice Finance:-
Recruitment Factoring : The Invoice Factoring company fund your invoices and provide you with a professional and tailored credit control service ( the funder does the credit control ).
Recruitment Invoice Discounting : The Invoice Discounting company provide funding for your Recruitment business which is confidential and your customers are unaware of our involvement. ( you will do your own credit control )
If your recruitment agency would like more information on Invoice Discounting For A Recruitment Agency please complete the online enquiry form and an invoice discounting specialist will call you back by return