Common finance options for the Recruitment sector.
If you run a recruitment agency or supply temps, you’ll be familiar with ‘negative cash flow’. Staff are paid weekly or monthly but when you regularly have to wait for clients to pay it can leave you vulnerable to a wage shortfall leaving your business constantly hungry for cash. The more you grow your business, the greater the problem.
Factoring provides you with the opportunity to outsource your ledger management so you can focus on your business, Invoice Discounting provides you with the cash you need whilst letting you retain management of your own credit control and debtor ledger.
As recruitment is a pressurised industry with an intense focus on cash flow, we will work with you to make the whole process as simple and quick as possible.
Dependent on your business’ needs, there are two types of factoring for this industry that you can choose from:
Recruitment Factoring – Up to 90% of your invoice is funded and this available for temporary and permanent placements
Payroll Factoring – up to 100% of your invoice will be funded (net of VAT) and wages are paid directly to staff with payslips issued. You receive your margin, your ledger is managed and automatic payments to HMRC (VAT, NI and Income Tax) are made.
Just a number of partners we’ve worked with
Bespoke Commercial Finance work with a number of banks and lenders with the knowledge and experience that will benefit you and your business. They will provide varied finance options, from invoice finance and asset finance to commercial mortgages and bank borrowing.
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Do you have any Recruitment financial requirements?
What our partners say
I have been working with Bespoke since starting at BCRS. They’re the ultimate professionals in the field. They’ve got excellent working relationships within a huge network and can always find the best options for clients. I’d recommend Dave to anyone looking for the right Invoice Financing or Factoring Company, no matter how individual their needs. No business is the same and Bespoke recognise this
— Christine Sims - BCRS Business Loans
We recently changed our Confidential Invoice Discounting provider in order to meet the needs of a growing business, and we were recommended Bespoke. At every stage, we could rely on their team’s wealth of contacts and experience and were able to choose our preferred provider from a high-quality list. Bespoke’s assistance in this process was invaluable, and I’d have no hesitation in recommending their services
— Martin Spare
Bespoke was recommended to me by an ex-colleague and friend. I can honestly say it was the best call I made when looking to complete my MBO. They listened carefully to my specific needs and introduced me to the most appropriate product, as well as supporting me throughout the process and beyond. I would not hesitate to recommend Ian to anyone looking for advice or introductions in order to fund a new business project.
— Sophie Howe
Managing Director, West Country Group
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Let’s work together
If you have a financial requirement within the Recruitment sector then please do not hesitate to get into contact using the form below.
One of our experienced sales team members will be in touch as soon as they can.