Essential factors for starting a recruitment agency

James Caan the recruitment entrepreneur founded the recruitment company Alexander Mann in 1985. By 2002 it was turning over £130m and he went on to sell it to a private-equity firm in a £93 million buyout.

It’s not easy building a business, nothing worthwhile in life is ever easy. Quba Solutions however, is here to enable you to focus on sales, strategy and building your business without cash flow restrictions, whether or not you’re looking for a lifestyle business or to be the next James Caan.

If you are taking the first steps in exploring how you can set up your business, below are what we believe to be key factors:

Finances in a new business

Cashflow. You’ll need it, especially for freelance recruitment and there is a huge amount of choice and differing products on the market. Invoice finance traditionally enables you to improve your cash flow position, often offering 80-90% of invoice value, but it doesn’t do much else for you.  There are Venture Capitalist companies who, for a share of your business will provide finance and support, but typically for more than a 50% shareholding. You’re doing this to be your own boss – not swap one for another.

Quba Solutions Recruitment Funding Solution

Here we offer 100% of your invoice value so you obtain every penny of your profit per candidate per week. All of that with a back office support system for payroll, invoicing and credit control. Thus you utilise your profit and plough it back into the business, and your admin is taken of.  It leaves time to build and scale – new staff, larger premises, investing in that CRM system, improving your current website and investing in online marketing to improve your brands positioning.

Once you have your plan, you can get going.  In our experience most of our clients either start off working from home or if there is a business partnership, they will acquire a very small and cheap first serviced office space. As Quba Solutions carries out all your back-office function there is no need to spend money on a multi-person office. The first year is all about setting yourself up, learning the basics of business, from purchasing the company name to setting up the VAT, PAYE and establishing the brand identity.

Staffing and employment

Staffing. Ironically, one of the biggest problems for growing recruitment businesses is recruiting the right staff. Just because you have lots of consultants doesn’t mean you will make more money, usually you’ll make less. We’ve seen many businesses grow headcount too rapidly, only to realise they have expanded too hastily and then have to scale down, refocus, regroup and progress again at a much more manageable pace. Remember what your brand is, what your message is and what makes you different. You need to believe in this for your staff to think it and breath it.

Quba’s 50 years experience

Quba Solutions was founded and managed by recruitment experts, we have close to 50 years’ worth of recruitment experience, including an FD that was the Financial Director for 15 years at Randstad. We know recruitment, we understand it, all the daily frustrations and those minor irritations that soon become significant.

Our platform DynamiQ

We developed DynamiQ, our unique unrivalled IT platform, from he substantial research of our competitors and feedback from the industry. This helps fledgling and small businesses run their business by giving a platform that highlights key data in a simplistic manageable format. It enables you to request credit limits, ensuring all your debt is insured, and you can pay workers and bill clients correctly, highlighting your current debtor position.

Contact us today

If you’re looking to set up by yourself in recruitment please call us in confidence on: 01308 233178.