Your “ gig” is starting your own recruitment company so it’s worth thinking about the gig economy

The ‘gig economy’ is on the rise, and you need to be aware of its potential.Continue reading

Starting your own recruitment company? You’ll need to think about Data Protection.

May 2018 is when the General Data Protection Regulation takes effect,and it will affect people running recruitment businesses.Continue reading

Starting your own recruitment business, You’ll need to be up to speed on the GLA…

I am thinking of starting up actually, and yes, I’m aware of the GLA or is it the GLAA! but is it something I have to think about right now?

Well, it might not be as urgent as sorting your funding, organising premises and arranging to have your systems up and running from day one, but you’re going to have to be up to speed on it as soon as you’re operational.

Thanks for reminding me of everything else I have to think about! Can you fill me in on the details now? This is about exploitation and such, isn’t it?

It is. As to the details that would take some considerable time. But let’s look at the big picture. If you’re an operational recruitment business, and especially if you provide staff for agriculture, horticulture, shellfish gathering and anything to do with associated processing and packaging you will need to have a GLA licence.

OK, so what’s the GLAA

Well since May the GLA became the GLAA to enable it to protect vulnerable workers and tackle exploitation across all industry standards so it is likely that you will need to consider it as one of ‘ the key things to get sorted’ as you launched your own business.

Ah. Yes.  I’ve had to get a few of those organised through the team I work with.

That’s rather the point. Working as a consultant you’ve doubtless had someone in the company who sorts out such things for you. Fact is, when you’re on your own – you’re going to have to do it.

I take your point. I guess the truth is I know about it but don’t really know how to organise a licence if I am going to be supply workers to the regulated sectors?

Very honest of you! Make sure you’re fully informed because it’s important.

Just how important?

Important as in ‘criminal offence important’.

Right. I think I need to know a bit more. As in ‘now’.

It’s quite simple. If you provide workers into the regulated sectors it’s a criminal offence to do so without your business having a licence.

And just to be clear. What does the licence actually mean?

It means that you, as the provider, meet and understand the GLA licensing standards, which cover health and safety, workers pay, transport and accommodation and the prevention of forced labour and mistreatment of workers. There are also issues around meeting National Insurance and VAT regulations.

So I was right about exploitation then….

Indeed you were as the main objectives of the GLAA is to tackle Modern Slavery in the UK.

So it is serious. I will make sure I’m well informed.

For now…

Excuse me?

Sorry, but it’s not just a case of checking the basics and getting on with it. Legislation changes all the time and you need to be constantly updated about it. You will be expected to renew your licence on annual basis and ensure you have the correct policies and procedures in place.

I’m beginning to see the value of those specialist colleagues I’ll be leaving behind. This is something else I need to add to that list you so kindly referred to that included funding, premises, systems and everything else necessary to start up.

We could help here. At The Recruit Venture Group we provide a complete package for startup recruitment businesses. You get shares in, and dividends from, your own company. Backed with 100% funding you’ll be able to pay yourself a salary from the start, and you’ll also have access to our back office systems and support.

Now that does sound appealing. But, without sounding ungrateful, how does that help with things like the GLA license and legislation. That keeps changing….

It helps because we’re your central resource for information, industry legislation and guidance as well. We constantly monitor legal changes across all sectors and share with our joint venture partners to support them and their business. It’s part of what we do.

 

And you’re still thinking about starting your own recruitment business!

Well, it does take a lot of thinking about.

Yes, there’s no denying it’s a big step. But it’s also an exciting step, a challenging step, a step into controlling your own future….

I know. I know. But….

Is that the same ‘but’ you were using back in March?

March? Why March?

You may recall that back then we touched on the same issue when a quarter of the year had gone. Now it’s nearly half gone…

Yes. I know. The time is rushing by. But there’s just so much to think about.

Share your concerns.

Right. I need funding. Enough funding to start up and be operational. I need a salary, because running my own show will be challenging enough without worrying about paying my own bills and trying to retain something approaching my current lifestyle.

Got that. Anything else?

Lots. I’ve been thinking this through. I need fully operational and industry compliant systems from the start. That means hardware and software. Premises, obviously. The whole branding thing has to be sorted out. There’s the issue of legal advice, even including registering the company. And there’s the risk!

Impressive. You have thought it through. Why no start up then,  when we’re half the way through the year?

Umm. All of the above!

Look, thinking it through is commendable, but the fact is you’re either going to do it or not. The recruitment business is full of potential entrepreneurs, and it’s full of opportunities as well. So if you could address ‘all of the above’ in one go, you’d do it. Now.

Of course!

Then listen. The Recruit Venture Group specialise in backing start up recruitment businesses. Full initial funding is just part of the package. You’ll also receive shares and dividends in your own company – and access to a complete back office and support system. You run the business, without running the risk.

And all that legal advice and support?

All part of the deal.

And I’d qualify?

We’re going to want to see a business plan, and we certainly want to know that you’ve spent the last five years working continuously in recruitment; ideally you have spent the last three of them in a specific sector, but then if all of this is in place, we can definitely start planning…

 

If you like the idea of starting your own recruitment business, engage with the people you admire.

Engage with people I admire?

It’s a sound piece of general business advice. Being around people you look up to, people you admire, is good. You learn from them. You benefit from them.

Yes, I can see that. The thing is though….

Let’s guess. The people you admire are the team and colleagues – maybe even the boss you have – right now. And starting up on your own means you’ll be, how can we put this? Leaving them behind.

That about sums it up. I’ve learned a lot from these people, but I really want to try this on my own. I’ve got ideas.

This is sounding very promising.  These ideas you have…..

Ideas for delivering a better service. Maybe specialising in a sector I know well. I want to do it – my way.

Fantastic! The problem is? Aside from saying goodbye to your friends and mentors?

I need funding. I need branding. I need premises. I’ll stop there shall I?

If you wish. We could add that you need legal advice, to set up the business; and of course systems that work from day one – which means getting advice, and probably credit, from I.T. people. Back up of course, you’ll need that. And the admin, payroll and invoicing….

Exactly. And starting with the bank manager and working through all of the suppliers needed to do that lot – let’s just say that as a startup I’ve found that preliminary meetings so far haven’t exactly generated much mutual admiration!

Hmm. From our experience, we’re thinking that the bank manager wasn’t terribly forthcoming, and even when you had his attention it was obvious that he didn’t understand recruitment.

Difficult to admire a person like that!

Indeed. You probably found that the lawyers, I.T. people, and branding experts were a bit cagey about helping you when you’re starting from scratch too. Difficult to admire when they’re not sharing your enthusiasm.

Exactly.

We think you might like to talk to us then and dare we say even admire us?

I’d like to think so. But why?

Because we do understand truly recruitment. And we really understand startups. At The Recruit Venture Group we specialise in backing start-up recruitment businesses. Full initial funding is just part of the package. You’ll also receive shares in, and dividends from, your own business.  We’ll sort the branding, and we’ll sort the legals. Even incorporating your business at Companies House. And you’ll have access to a complete back office and support system.

You’re rapidly gaining my admiration. Just one point…

You’ll be able to pay yourself a salary from day one. Your lifestyle will continue.  Except, of course, you’ll be the owner of a recruitment business. YOUR  recruitment business.

You’re a jump ahead of me. How do I know you’ll admire me?

Oh. Make no mistake. This is a two-way street. We’ll really like you if you’ve got five years current experience in recruitment, preferably with three of those most recently spent in a particular sector. We’ll admire you all the more if you can put those ideas of yours into a business plan.

 

 

This is a series of general election puns isn’t it?

It was borderline irresistible!

And it’s all linked to starting up my own recruitment business…

Candidates…see what we did there?

Of course. Running a recruitment business means looking after candidates. But what’s with the ‘Am I a candidate’?

Ah. We like helping recruitment professionals to start their own businesses. But to get our vote ….

Enough!

Sorry. Bear with us. To get our approval and backing you do need to tick certain boxes.

I’ll let that one go. Explain the boxes I need to tick.

You need to have five years current experience in recruitment. Unbroken. And ideally you need to have spent maybe the last three of them in a particular sector; maybe running a desk or team.

I qualify.

Good. So, hate to ask, but with that experience why haven’t you elected (sorry!) to start your own recruitment business already?

Fair question. The truth is I’ve found too many obstacles. Full funding was the start point – or not if you see what I mean. Then there was the whole setting up a business thing – the legals and so on. Even when I’d got my head around that I was floundering in trying to sort out branding, premises, systems, I.T. and organising credit with the media.  It all got a bit too much. 

It’s not an unfamiliar story. Still surprising in a way though given the entrepreneurial drive that you obviously have – along with a lot of recruitment consultants out there.

Ultimately I suppose it was down to the bank though. They didn’t like the exposure and didn’t give me their vote.

See – you’re doing it now! Just suppose there was someone prepared to back you. Really back you, across all those areas you listed.

And who might that be?

Us! We at The Recruit Venture Group provide a complete package for startup recruitment businesses. You get shares in, and dividends from, your own company. Backed with 100% funding you’ll also have access to our back office systems and support.

All the legals, the branding, the I.T. – we do that too.

I’m going to have say it, YOU get my vote.

It had to be said! But before you get our’s we need to talk. Tick all those boxes about experience and you’re off to a great start. Then we’ll outline your business plan together, shape your ideas and let us know your objectives, and we’re really on to something.

You mean I need a manifesto.

Oh, very good. But truthfully, if you want to convince us you’re a candidate good enough to look after your own candidates – and clients – not to mention also get our backing, we do need to talk.

 

Two top attributes for business success and definitely worth considering when it comes to starting your own recruitment business

Taking ownership – means taking responsibility and not making excuses; and focus, means not allowing yourself to be distracted.

These attributes come out as 1 and 2 in recent findings recorded about how to succeed.

And you’re telling me this because?

Because you’re thinking of starting your own recruitment company. Are you not?

Well, yes, I am. But I wasn’t looking for management training as such.

It’s not about management training. It’s about the fact that in our experience – which is quite considerable – those top two attributes chime rather well with starting your own recruitment business.

Ok. Ownership is pretty obvious. As in ‘owning my own business’.

A bit literal, but yes. More importantly though, to do it you really do need to get on with it, take responsibility and stop making excuses. Only you can do it. And if you don’t commit to making it happen it won’t. No ownership. No ownership.

I do see what you mean. Slight feelings of guilt creeping in here, but there are a lot of things to consider.

Definitely.  Doubtless you’re worried about finding the funding, setting up the company and – just a guess – maintaining something like your current lifestyle because there’s a risk involved.

Pretty much that. Yes. Care to elaborate on focus?

Certainly. Some of it is right there. When you’re fretting about all of those things, instead of taking ownership of them, you’re already losing focus. Focus on what it is you want to achieve. In this case starting your recruitment business. Zero in on the tasks to be undertaken in order to achieve it. When you do, it starts to happen.

All good motivational stuff. But, I do need to get all of those problems solved. And that can be distracting.

Let’s take a look at what you need to do. The funding, as you say. You’re right again to mention the legal process of setting up the company. Then there are the startup issues like finding premises, sorting and creating your branding, organising software – and hardware – to run fully road tested systems from the start. You’re not going to get far without them. Admin needs to be top notch from day one – payroll, client and candidate data. And, you’re right again, you need to feel comfortable about your own financial position – paying you mortgage and bills. You’re worried about the risk.

Not wanting to argue, but you have to agree that’s all pretty distracting, making it difficult to focus. And as to ownership – it’s not all down to me is it?

It could be down to us.

How so?

Our start up package is designed to help you get going, and get growing. Helping recruitment professional start up on their own is what The Recruit Venture Group do. With full financial backing to launch your business, plus the autonomy that comes with shares and dividends, you can get on with what you do well. With our complete back office and support system you can do it better. We’ll tick all those boxes, from branding to the building; from computers to registering with companies House.  And, with the ability to pay yourself a salary from day one you can run your own recruitment business – without running a risk.

I think I can focus on that. How do I get started?

 Have you got five years experience in recruitment, and ideally spent the past three of them working in a specific sector?

 

As in – ‘I’ve got lots of candidates for you’?

Well, yes, but it’s not quite as straightforward as that.

But we’re talking recruitment – how does it get more complicated than providing the right candidates?

We’re talking about startup recruitment – and that does bring challenges.

No de- motivation, please! I’m seriously considering starting my own recruitment business.

Excellent. Let’s talk some more. But first, you need to seriously consider this. As a startup recruitment consultancy you’re going to have a whole load of things to do. And amongst it all, and pretty much top of the list, come two things.

Two things?

Two things. You need to find candidates and you need to find clients. Finding the candidates – you know how to do that. And with your experience you know how to find clients too. The difference is that as a startup you may well find it harder to convince a client to run with you.

Why? With a long list of candidates to meet their needs why would they not jump at the chance of working with me and my shiny new recruitment consultancy?

There’s the word for you right there. New. There’s no reason to assume that your enthusiasm, rates and list of candidates won’t impress them. But you’re ‘new’. So, says new potential client to themselves – ‘Do they have track record? Are they financially secure? Will they able to cope?

Hmm. I do sort of get that. Reluctantly!

Hate to say this, but there is another problem linked to all of this.

Let’s hear it then.

The bank. They get nervous too about a brand new business. Probably not blessed with a real understanding of recruitment your bank manager will watch your cash flow like the proverbial hawk.

I’ve got five years’

experience in recruitment. For the last three years I’ve been running a sector specific desk. I have loads of ideas about how to deliver a great recruitment service by running my own business.  And now, given this discussion – I think I’ll just shelve the idea.

Now hold on.  First off, your CV sounds like you’re just the sort of person we like to talk to. Secondly, we didn’t say it was impossible. In fact there’s a very good way around the sort of problems we were outlining.

And that is?

Our way. At The Recruit Venture Group we like to think that our way is your way. Your way ahead is to start your own recruitment business. Our way is to provide you with the finance and freedom to do it. Your way needs capital to launch and shares in your own business. Our way is to deliver all of that – and then support you with a full back office system.

Sounds great, but how does all of that – as attractive as it sounds – solve those problems?

Think about it. If you’re able to explain to potential clients that you have full, solid, financial backing; that you have robust cash flow and that you have industry compliant, road tested, systems to handle the work – you’re going to overcome their worries.

You mean I’ll sound like a reliable recruitment business from day one?

You’ll be a reliable recruitment business from day one! And what’s more, with the business backed so reliably by us you’ll be able to draw a proper salary from day one. Which means you can concentrate on what matters; going out to find new clients.

Who will trust me with their business?

Ok. It looks like we’re about to go round again. Talk to us.

How?

Email us at info@recruitventures.com or contact us below.

 

Recruitment businesses need technology – but technology is too expensive when you’re starting up.  Or is it?

 

Talk me through that again.

It goes like this.  We talk to a lot of people in recruitment. And a lot of people who want to start their own recruitment businesses. We found that one of the biggest worries they had was – the technology.

Why is technology a worry?

The fact is, you’ve got to have it. You can’t operate your business without a robust, reliable systems to process applications and maintain client and candidate data. But, as a startup, you’ve got a lot of costs to address already, Premises, Furniture. Stationery. Website. Hardware and the software. All essential but you’ve still got to get that technology – and the technology can be expensive.

It could be worse than you think!

We’re experts in this field if you don’t mind.

No offense. But I’m really fired up about delivering an outstanding service through my own recruitment company. And to do that I’m thinking about Client Relationship Management systems, and tracking candidate data, as well as monitoring industry and market trends. And all that means more technology.

You’re absolutely right. And you haven’t even mentioned the management of the financial side of your business.

The financial side?

Definitely. Think you’ll find that the processing and tracking of payments and invoices rather needs some technology too.

Point taken. In fact several points taken. Technology is vital for a recruitment startup. It affects many aspects of the business. You can’t grow without it. And it’s expensive for a start up to get it.

That’s about the size of it! But here’s the thing. At The Recruit Venture Group we specialise in backing startup recruitment businesses. Full initial funding is just part of the package. You also get access to a complete back office and support system.

Say again!

You also get access to a complete back office and support system. We’re there to provide the technology. From the financials and invoicing to the CRM and analysis, we support you so that you can run your own business.

And it is my own business?

Totally. You’ll get shares in, and dividends from, your own company. Backed by us you’ll be able to draw a salary from day one. You run the business, without running the risk.

So what do I need?

Drive, ambition, entrepreneurial flair……

Can we be a bit more specific?

Realistically you need around five years’ experience in recruitment, and ideally about three of those specialising in a particular sector. Let’s talk about it.

 

This sounds like a warning.

 Let’s call it practical advice. Like any business, you’ll have fixed costs. Rental or lease for premises, utilities, salaries – including your own – media costs, car. To name but a few.

I’d been thinking about this.

Good, then you’re thinking of starting your own recruitment business?

I am. But specifically, I was thinking that when I start up I’ll still have my own personal bills to pay. My lifestyle to maintain. So I was interested to hear you mention my own salary there. Among all those other costs.

 Let’s take this one step at a time. First, the business. All of those running costs, which will be fixed, are a challenge anyway, but remember, they only kick in when you’ve started. And you’ve got to get funding to getting started.

Now it really is sounding like a warning.

 On the contrary. It’s just a question of looking at the overall picture. You want to start your own recruitment business. That means you need funding. You want to run it, and grow it, and that means fixed costs have to be addressed. Borrow the money to fund the launch and the repayments become another fixed cost.

I don’t like it, but I see it.

 Then let’s move on. You want to concentrate on the business, naturally, but just think of the demands of those costs. There are the financial ones of course, but also there are the administrative issues. You’ll need to be dealing with the bank – for your loan – the landlord, the computer suppliers, the job boards, the software company, the utility companies. And then you’ll need to run – and fund – the salaries. It’s a lot to think about. When you want to be thinking about growing the business.

So how do I get a fix on all of that?

Glad you asked that. Well at The Recruit Venture Group we help recruitment professionals start their own businesses. With zero financial risk from our 100% funding package, plus shares and dividends, we leave you free to concentrate on starting up and provide a full back office and support system from day one.

And all those other costs?

We’re here to help you find premises and sort out the ‘legals’. We look after your cash flow, even your invoicing. We’ll provide back up so your software and systems costs are all part of the package, and with our funding, you won’t be chased by your bank manager.

Except my personal bank manager might be on my case.

Let’s get back to you then, and the point you made earlier. Properly funded and free to concentrate on the business, you’ll be able to draw a salary from the day you launch your business.

That’s reassuring. But what do I need to bring to the party?

 Let’s be honest here. You’re going to need a business plan. But, if you’ve got five years’ experience in recruitment, and if you’ve worked in a specific sector for two or three of those years, you’re the sort of person we like to talk to. That is if you’re genuinely interested in starting up on your own.

I am. And this whole fixed cost thing does make sense.

It certainly does when you look at it this way. With us, as your backers and ‘overall provider’ you can really get a fix on them. They’re all in ‘one box’ making life easier for you. It frees you up to do what you do best. And what you want to do.

I want to talk to you about all of this. How do we start that process?

Contact us… email info@recruitventures.com or click below.