Our recruitment finance service quite simply, gives you the time to focus on your business.
As specialists in the sector, we deliver more than 100% finance as we are dedicated to supporting recruitment agencies with any cash flow issues. We provide you with all the back-office support you need so you can concentrate on building relationships with your customers and candidates and, growing your business. From paying temps and contractors on time and invoicing clients to chasing payments and helping make sense of compliance and legislation within the recruitment industry.
Here’s how our service helps recruitment businesses:
- 100% Recruitment Funding
- Payroll Support
- Paying Temps and Contractors on time
- Invoicing Clients
- Chasing Payments and Credit Control
- Cashflow Support
- Support with Compliance and Legislation
See how Back Office can work for you
Here’s how we provide 100% recruitment funding to take stress out of running your recruitment business.
Giving you financial confidence
Cash flow is king for any recruitment business. You need ongoing access to finance to pay your temps and contractors on time, every time, and the peace of mind that everything is right first time so you’re not distracted from running your business.
To eliminate uncertainty, Back Office Support Services offers more than 100% recruitment funding. If you’re just starting out, we provide the financial support you need to immediately start placing temporary staff and contractors; and if you’re looking to switch recruitment finance provider, our track record speaks for itself.
We’ll support you every step of the way
As you’d expect from Back Office Support Services, it’s easy to arrange your recruitment finance and sign up to our service. We provide a service which gives you so much more than just funding . Get in touch and we’ll assess what you need and answer any questions you have. We’ll even connect you to some of our existing clients if you want to hear their first-hand views about our 100% recruitment finance service.
We’ll explain how our fee works, how the process works and what you can expect from us. Our recruitment funding solutions provide complete back-office support to meet all your temporary payroll and credit control needs – all designed to free up your time to focus on recruitment.
Want to find out more?
Speak to a member of our team! They’ll be happy to discuss your requirements in more detail with you.
Recruitment funding is a form of financial assistance that businesses can access to help cover the cost of paying temporary workers. It is often used by recruitment agencies who have recently started up or are looking to grow their business to help with their cash flow.
Businesses can access recruitment funding through different sources. However, the most common is via a recruitment funding provider such as Back Office Support Services who can provide a full end-to-end service.
Recruitment finance helps agencies fund and administer payroll obligations for temporary workers and provides them with their gross profit upfront. This allows agencies to concentrate on developing their recruitment agency and not be distracted with back-office requirements.
Recruitment agencies from start-ups to established agencies across a range of sectors.
Recruitment funding is used to pay temporary workers’ payroll and provides recruitment agencies with their gross profit.
There is no formal application process for funding, every provider will have its own process and consultation method. Here at Back Office Support Services, we will get to know you and your business so we can ensure that our offer will work for you.
Yes, the eligibility requirements for recruitment funding vary by provider. At Back Office Support Services, we recommend that people have recruitment experience as there is legislative requirements which you need to understand. We would also require documentation to verify the identity of the director/s of the business. Many recruitment funding providers work in this way as it’s about meeting individual business requirements rather than being a rigid process.
The timeline for a decision on a recruitment funding application depends on the provider. Generally, the decision will be based on whether using the provider is the right way to go for their business. Once you have provided the right information and signed all the correct documentation to set up your account getting started can be quite quick.
The main benefit of using recruitment finance is that it covers payroll obligations for temporary workers, which in turn gives the recruitment agency time to focus on growing the business.
A recruitment finance provider offers services such as payroll, invoicing, credit control and bad debt protection, as well as the finance to support the payroll.
The best way to get started with a recruitment finance company is to contact them directly and discuss your specific financial needs. They will be able to provide further information and assistance.
Invoice financing is the general term used when someone wants to borrow money against an invoice. Invoice factoring is a type of invoice finance where the business transfers ownership of the invoices to a factoring company. With the invoice factoring model, providers like Back Office Support Services are the organisations that will take ownership of these invoices and take responsibility for collecting the monies owed from the business, such as a recruitment agency, so they can concentrate on what they do best.