There have been so many changes in recent years, ranging from the growth of the Internet, the common use of mobile devices, a single world market to a fairly stubborn recession. New career opportunities have emerged as modern technology has become such a force. Perhaps you have no talent with technical things but still think there is a more satisfying career out there.
If you are looking for a new challenge and have natural skills in talking to people, then perhaps you should think about the recruitment business. You must be happy with the prospect of talking both to potential clients in need of workers and those who need help in getting back into gainful employment.
There is a great deal more to it than that if you consider starting a recruitment agency, but that is where the beauty of talking to a specialist in the sector comes in. At Startupsimply you can see the support that is available at a time when the signs in the UK economy are positive.
As businesses are coming out of a period of stagnation there is increased demand for both temporary and permanent staff. These demands need to be satisfied and this is where there is an opportunity. An agency providing temporary staff to cover seasonal demand or authorised leave is just one part of the recruitment industry. Some companies specialise in finding quality full-time staff for clients or providing contract workers for projects that have a defined timetable.
There will be fees for filling a permanent vacancy but those workers that are ‘hired out’ to clients remain the responsibility of the agency; at least their payment does, with clients paying on invoice, generally with 30 day credit. It immediately raises the issue of taking cash flow into account.
Finance and administration
This raises the whole matter of finance. There are a few questions you need to ask yourself about finance. They include whether you have enough in place to start a business and for maintaining yourself until you can start to draw an income from the business. It is worth doing some research on financial support that might be available and the idea of factoring your invoices to release your income quicker.
Your own time is valuable and you must make sure that you can spend most of it on growing the business. That means you need to minimise the amount of time you spend on administration. You cannot ignore your statutory responsibilities however, most notably to Her Majesty’s Revenue and Customs (HMRC) that expects to receive tax and NI on time, supported by the necessary paperwork.
One solution to issues like your payroll is to look for service specialists who can do it for you. Their very existence and existing clients suggest that there is no problem with confidentiality and little chance of your having to explain yourself to HMRC at any time because something has gone wrong. One thing that hasn’t changed is your need to comply with the law and your obligations.
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