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. Temporary workers obviously relying on them to be paid. There is no legitimate reason why this should happen. When it does, it […]
The benefits of recruitment funding – fast and flexible
Recruitment finance A type of funding specifically for recruitment agencies that 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 recruitment financiers […]
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?
Recruitment agencies across the UK regularly rely on umbrella companies to handle payments for their temporary workers. Unfortunately, very few business owners are aware of how this can potentially lead to corporate insolvency or even personal bankruptcy. Quite frighteningly, HMRC can issue a huge bill to recruitment agencies if an umbrella company in their supply […]
Why should a recruitment funder be a UK Finance member?
QUBA Solutions and UK Finance: What Our Membership Means for You UK Finance serves as the collective voice of the banking and finance industry in the UK. Representing over 300 member firms, it plays a key role in promoting competitiveness, driving innovation, and ensuring that customers receive the support they need from financial service providers. […]
Benefits of permanent recruitment funding
Why would a recruitment consultancy have their permanent invoices funded? That’s a great question—and one we hear from time to time. Funding your perm invoices offers several benefits. While not every recruitment business will need it, it can be an extremely helpful—and sometimes essential—solution. The main benefits are as follows; Cashflow This is probably the […]
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? An agency that supplies temporary workers to an end client and does not pay those workers on a PAYE (Pay As You Earn) […]
5 Steps To Setting Up Your Own Recruitment Agency
The first 5 steps to setting up a recruitment agency of your own.
Traditional Invoice Finance Alternatives
How does traditional invoice finance work? If you use a bank for recruitment finance, they will typically advance anywhere between 70% to 90% of the invoice value. How does that work in practice? In simple terms, you will produce your own invoices and upload them to the bank’s invoice platform. The bank will advance the […]
Why Security Checks are so Important
Working in the recruitment world, you might already be aware of the need for security checks. Here we delve into why security checks are so important, and how they can ultimately help your business. Why Security Checks are so Important – In Short The Importance of Security Checks in Recruitment Security checks are particularly vital […]
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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.