Get ready for launch in 2024!
Starting a temporary recruitment agency in the UK in 2024 presents unique challenges, considering the dynamic nature of the job market and the specific trends within the temporary staffing sector. However, that shouldn’t put you off. Being Captain of your own ship can be a rewarding and exhilarating experience. At QUBA Solutions, on average, we […]
What to do at renewal stage?
When approaching the end of your recruitment funding agreement, you may be unsure of what to do. It’s the perfect time to take a step back and assess how your funding partner has performed for you throughout the partnership. You may feel the solution you have in place is acceptable and renewing is the simplest […]
2023 takeaways
For many, 2023 has been a challenging year in recruitment. There has been a downturn in placements, costs have increased, and insolvencies have been on the rise. But it’s not all doom and gloom, there’s been some positives to 2023 with newly formed businesses flourishing despite the economic knock backs as well as established agencies […]
The end result of holding temps’ payroll; Conduct Reg Breach
We hear stories (fairly regularly unfortunately) about recruitment invoice financiers refusing to pay their agencies’ contractors / temps. This is obviously an awful situation to be in and very stressful for the agency with temporary workers relying on them to be paid. There is no legitimate reason why this should happen but, when it does, […]
The benefits of recruitment funding – fast and flexible
Recruitment finance is a type of funding specifically for recruitment agencies which helps to be able to pay temporary or contract workers, while providing support with the back-office administration around this. It is different to traditional invoice finance / factoring and has some specific benefits which are as follows; Advance rate – in most cases […]
The importance of bad debt protection
What is bad debt protection? Bad debt protection is insurance against your end clients that covers your business if the client were to become insolvent. Why do I need it? It is crucial for you as an owner of a recruitment agency to have credit insurance in place with your end clients. If you don’t […]
Scary truths about traditional funding
Throughout our 8 years of offering recruitment businesses invoice factoring solutions, QUBA Solutions has come across traditional funding or widely known as invoice discounting methods. We’ve seen it happen again and again, agencies failing because the foundations they’ve built themselves on are unsuitable.Cheap? Yes. Flexible and reliable enough for growing recruitment agencies? No. 1) The […]
Could your supply chain cost your business a six figure tax bill?
Umbrella companies are used regularly by recruitment agencies across the UK to pay temporary workers. Unfortunately, very few business owners are aware of how this can potentially lead to corporate insolvency or even personal bankruptcy. Quite frighteningly, recruitment agencies can be hit with a huge bill from HMRC if an Umbrella company in their supply […]
Why a recruitment funder should be a UK Finance member?
UK Finance is the collective voice for the banking and finance industry. It represents more than 300 firms across the industry, acting to enhance competitiveness, support customers and facilitate innovation. UK Finance has quickly become recognised as an authoritative, balanced, evidence-led industry body, representing their members who provide finance, banking, markets and payments-related services in […]
Benefits of permanent recruitment funding
Why would a recruitment consultancy have their permanent invoices funded? It is a good question and one that we do get asked every now and again. There are several benefits to having your perm invoices funded, it won’t be needed by all recruitment businesses and it may be dependent on certain circumstances but it can […]
Reporting requirements for employment intermediaries
Employment intermediary reporting is an essential part of running a recruitment agency; submitting the reports are compulsory. Read our help guide to employment intermediary reporting below. What is an Employment Intermediaries Report? As an agency that supplies temporary workers to an end client and does not pay those workers on a PAYE (Pay As You […]
5 Steps To Setting Up Your Own Recruitment Agency
The first 5 steps to setting up a recruitment agency of your own.
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Get in touch and find out how we can take your recruitment business to the next level. You can book an appointment or simply give our team a call on 01305 233 178.