Recruitment finance is a vital accompaniment for any growing recruitment agency but is still overlooked by many businesses. The reason for this is simple: there are a lot of myths associated with recruitment finance.

Today we’re going to talk about these misconceptions and explain why recruitment finance suits any agency that provides temporary workers.


Is Recruitment Finance for Failing Companies?

Let’s start with a big one. Recruitment finance services are not just for companies who are struggling financially.

It’s true that, if you are struggling to stay afloat and pay your temporary workers, the invoicing service we provide can help get things back on track. We chase your invoices for you, keeping money flowing and preventing delays.

If your clients are having difficulties, our recruitment finance service also includes debt protection, making sure you aren’t affected if they have bad debt.


Is Recruitment Finance Expensive?

This is another common misconception that really shouldn’t exist. If you are a growing recruitment company, no matter how big or small your operation, recruitment finance is a worthwhile investment.

Some recruitment finance providers, however, have hidden fees and charges that can make their service a lot more expensive than it appeared on the service. When we meet with you to establish your needs, we’re always clear about the cost:  A transparent, all-inclusive price based on a percentage of your pre-VAT sales revenue with no set-up fees or minimum charges.


Is Recruitment Finance Complicated?

Recruitment finance can appear complicated if you aren’t familiar with the practices involved. Our service includes:

To keep things as clear as possible, we make sure to explain every aspect of recruitment finance before we ask you to sign on the dotted line. Then, once you are working with us, we provide regular reports and are on hand to answer any questions you may have.


Do Recruitment Finance Providers Understand Recruitment?

This myth is a little more niche, but it is one we’ve heard a few times over the years. We’ve been in the recruitment business for over 25 years, immersing ourselves in the operations of our clients and building an in-depth understanding of how it all works. Some members of our team also came from a recruitment background, and have used their knowledge to expand our understanding.


Does Recruitment Finance give me Less Control?

As a business owner, having complete control over your operation is essential to keep things running smoothly. We never ask you to relinquish this control, even when we are handling invoicing and payroll for you. You’re still kept in the loop, with regular, in-depth reports about every aspect of the process.


Will I Accumulate Debt if I use Recruitment Finance?

Quite the opposite! Our service includes bad debt protection, that protects you from accumulating debt if your clients go into administration and ensure that any outstanding invoices are still paid.

In such a competitive industry, trust is key. We help you to not only maintain your good reputation with clients and workers, but also help you to build better relationships.


Is Recruitment Finance only a Short-Term Solution?

Similar to what we mentioned earlier, the main goal of our recruitment finance service isn’t just for clients who are struggling financially. Recruitment finance is a tool for growth, and most of the recruitment agencies we work with are expanding fast and need professionals to handle certain parts of their operation. This means it should be used for the long-term, especially once you’re used to having headaches handled for you.

But if you are struggling or are concerned about your future financial situation, recruitment finance can still help you. Then, once you’re smooth sailing again, we’ll help you to keep pace with your biggest rivals.


Recruitment Finance Myths Debunked

For reasons we can’t fully understand, there are a lot of myths surrounding recruitment finance. Well, we always aim to be more transparent about our service, and how we help our clients to provide the best temporary workers and contractors.

If you have any questions about us, or anything to do with recruitment finance, please get in touch.

We look forward to hearing from you.