In the UK invoice discounting is a funding method to ease the financial pressure on recruitment agencies so they can trade successfully. There are a wide range of specialist financial solutions to keep cash flowing smoothly. From factoring to payroll finance, we’ll tailor services to meet your needs, whether you’re a start-up or an established business.
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 in the guise 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 capital facilities and cash flow solutions for growing businesses throughout the UK.
- While there are many sources of business funding available for a recruitment agency, invoice discounting is 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, investor Funding or government funding
Invoice discounting for temp recruitment agencies
Please note that in the UK most of the temp recruitment agencies are high street agencies with branches in every major high street so they have a large cash resources and no problem with cash flow.
- 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 know how to pay them temp workers.
- Small and start up recruitment agency will not have cash reserves and need to be prepared.
- 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.
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.
We offer sound factoring and invoice discounting advice to help get recruitment agencies through those difficult early days. Call 0800 597 4757 or apply online
- What is the difference between invoice discounting and factoring
- The invoice discounting process
- What make a business suitable for invoice discounting?
- What make a business NOT suitable for invoice discounting?
- What are the benefits of using an invoice discounting arrangement?
- What is confidential invoice discounting?
- What is disclosed invoice discounting?
- Disclosed invoice discounting
- Differences between disclosed invoice discounting & confidential invoice discounting
- Compare invoice discounting quotes
- What is single invoice discounting?
- The advantages of using an independent invoice discounting broker
- What is the difference between factoring and invoice discounting?
- How can invoice discounting help grow and develop a business?
- What type of business can benefit from invoice discounting?
- What business sectors are most suited to invoice discounting?
- Selecting or choosing an invoice discounting company
- Where to get invoice discounting help in the UK
- Invoice discounting for a recruitment agency
- Invoice discounting brokers
- Benefits of using an invoice discounting broker