What is recruitment finance?
Recruitment finance can incorporate invoice finance solutions as well as payroll finance for recruiters to assist the staffing industry with day-to-day back office operations, whilst improving cash flow.
Through invoice finance, cash is released against the value of invoices within 24 hours of their issue to improve cash flow, while back office services remove the administrative burden by looking after routine admin such as calculating tax and National Insurance deductions, pensions, student loan repayments and maternity pay from monthly wage payments.
Credit insurance is usually incorporated into recruitment finance facilities, providing comfort against non-payment of debts and ultimately the tools required for owners of recruitment firms to concentrate on running the business.
What are the benefits of recruitment finance?
- Recruitment finance offers dedicated support for the staffing industry as the product essentially provides payroll finance for recruiters.
- The factoring companies and payroll service providers have a thorough understanding of recruitment businesses.
- The working capital generated may enable your company to secure new business opportunities, whilst back office support will free up valuable resource.
Is my business suitable for recruitment finance?
Although this solution is designed exclusively for recruitment businesses, that doesn’t mean it’s automatically the most appropriate cash flow solution available to your business.
Other invoice finance and payroll solutions bring their own benefits, so it is important to assess all the options before making your choice.
Call Hilton-Baird Financial Solutions on 0800 9774833 to speak to our expert team, or email info@hiltonbaird.co.uk. Alternatively, get an invoice finance quote to see how much capital your business could access against the value of its sales ledger.
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