If you’re an experienced recruiter and want to look at setting up a recruitment agency, our guide will help you get started. QUBA Solutions partners with many new start agencies every year and we’ve seen first-hand how a knowledgeable recruiter can go from being an employee to running a hugely successful recruitment business and making significant profits.
But where do you start?
1. Choose your company name and incorporate:
Ideally, you don’t want to be changing your company name, King Driving Recruitment Ltd is going to be problematic if you wish at some point to explore the IT, Construction or Education sectors.
Follow this link to check if your chosen name is available – https://beta.companieshouse.gov.uk/company-name-availability.
Once you’ve found a company name that’s not being used, you’ll need to incorporate the business by going to https://www.gov.uk/limited-company-formation/register-your-company. It will typically take 24 hours for the certificate of incorporation to be sent to you via email.
2. Register for appropriate taxes:
Before you could start placing contractors, you need to have the following in place. Most agencies need to register for both PAYE and VAT. For agencies operating in the construction sector, you need to register for CIS.
UTR (Unique Tax Reference) number is typically received 10 working days after you’ve formed the business. CIS Registration is https://www.gov.uk/government/publications/construction-industry-scheme-company-registration-cis305
PAYE reference number.
3. Choose relevant partners:
To run a compliant and effective recruitment agency you will want to partner with credible businesses that will compliment your business and give you the expertise required.
Finance and back office provider – QUBA Solutions, Traditional invoice finance such as the mainstream banks.
Business Insurances – prior to placing contractors you will require three key insurances: Public Liability, Employers Liability and Professional Indemnity.
Business bank account –
Website and Marketing
How can QUBA Solutions help with setting up a recruitment agency?
As an established recruitment financier, we can take care of the back office services such as payroll, invoicing, credit control, HMRC Reporting and provide credit insurance. Leaving you to do what you are best at; recruiting and building your successful recruitment business.
Your contractors will be paid weekly or monthly and your margin is paid across to you weekly too! There are no upfront costs or hidden fees – our fee is a flat percentage on your weekly net invoice value meaning you will only pay when you’ve got contractors out. So contact us today to see how we can help.