Invoice Finance for Recruitment Companies
Everything you need to know about Recruitment Invoice Financing. What is it?
Why might you need recruitment invoice financing?
Typically, any type of recruitment, means looking for a specific person to fill a role or encouraging people to sign up and use a certain industry or service. It is specifically these types of businesses whose success is 100% fully dependent on consumers and clients signing up, using or taking part in these activities. Thus, having cash flow that is solely from the consumers’ pockets. This could make any type of expansion or longevity difficult.
What is recruitment invoice finance?
Liquid cash flow is the lifeline to any successful business and there needs to be enough left over to pay employees. But starting a new recruitment business might have you strapped for cash. Or if you are a more established business, do you have suitable finances to expand and keep growing? Recruitment invoice financing is a short-term way to pay your employees and contractors whilst your business grows and changes. Making sure your employees never have to go unpaid.
What is recruitment invoice finance good for?
Recruitment invoice financing is a great short-term way of borrowing money to pay your staff and individuals associated with your business. It allows you time to work out finances. If you are expanding your business to reach even more clients, or even if you are just starting up. It means that your work environment stays a positive one and no one has to miss or postpone a pay check. If you do not currently have a substantial cash flow, recruitment invoice financing is a fantastic short-term solution to help you out.
What should I look for when applying for recruitment invoice finance?
Here’s our top 3 things to look for when looking for a recruitment invoice financing company
Dedicated Payroll Manager
Payroll is the central cog that keeps a business running smoothly. Without this not only does it affect your temps and contractors – it can destroy your reputation. Don’t leave it to chance. When applying for recruitment invoice financing make sure you have a dedicated payroll manager who can manage and understand the financial workings of your business and offer advice.
One Simple Fee
Transparency is vital – with no hidden fees. When looking for invoice financing, you don’t need any extra hidden costs or charges. Check that you are given one simple fee, all VAT etc included. This will help you manage your money better.
Enhanced client relationships
The best providers don’t just offer recruitment invoice financing –they offer lots of other support too. This will give you more time to focus on growing your business. You want easy, appropriate means of communication and someone that you can trust.
There’s a reason invoice finance is quickly becoming the preferred financing method for the recruitment industry. Invoice Finance for recruitment agencies is affordable, easy & fast.
Ignite Business Group works with recruitment firms of all sizes. Whether your recruitment agency has 5 or 5,000 employees, we’ll help you find the perfect cash flow solution for your business needs. It doesn’t matter if you are a recent recruitment start-up, or if you have been around for a while; you can depend on invoice finance to take your business to the next level. If your recruitment agency is seeing increased demand, invoice finance is a short-term funding solution that can get you through a cash flow crunch.
Same Day Funding for Your Employee Payroll
Paying your temporary staff can be challenging, especially for growing recruitment agencies. Whether your agency needs a cash flow boost to hire new talent, extend payment terms to clients or increase marketing efforts, you can count on invoice finance to provide a steady source of working capital.
Ignite Business Group works to understand your company’s specific objectives and matches your business with an invoice finance lender that’s best tailored to your funding needs.
Contact Ignite Business Group today to see what we can do for you.