You’ve given it a lot of thought and are on the verge of making it happen. However, is it the right time to start your own recruitment agency? The answer is the time is now for several reasons.
First there is the economy. While Brexit may have slowed the rate of growth slightly, employer confidence continues to remain positive which in turn is driving demand for top talent – talent that recruiters like you are able to help them to find.
Secondly, the recruitment industry estimated to be worth an estimated £35 billion…and counting.
Thirdly is the availability of finance. Indeed, the last couple of years in particular has seen the rise and rise in the number of alternative finance providers entering the market as small businesses are encouraged by the more flexible options available to them rather than relying purely on traditional high street lenders.
In fact, between 2015-2016 the alternative finance industry grew to £3.2 billion – stimulated by tighter restrictions over lending among many UK banks. This has seen alternative finance transcend from being on the periphery to becoming mainstream. However, when considering turning to an alternative finance provider, caution should prevail.
Not all financers are the same. Most operate across a multitude of sectors yet few can call themselves true sector specialists. Many of the recruitment agency clients we partner with come to us having previously worked with generalist finance providers. But each report their frustration over the lack of real knowledge and understanding of the recruitment industry these providers have – a critical factor that can play significant role in how you grow your business.
Another great reason to consider starting your own recruitment agency now is that technology has made it even easier for you to do so. As well as smartphones, cloud technology and video conferencing, recruiters are continually focusing on how to work smarter and more efficiently. For example, Simplicity is set to offer an innovative Recruitment CRM workflow solution as part of their ongoing commitment to achieving faster, smarter growth for their partners – watch this space.
We have highlighted just a few of the key practical reasons why now is a great time to start up on your own, yet we all know it’s the magic of being your own boss which drives most people to take the next step and become a recruitment entrepreneur.