{"id":825,"date":"2020-08-16T20:03:07","date_gmt":"2020-08-16T19:03:07","guid":{"rendered":"https:\/\/devwebsitepro.com\/newmillennia\/?p=825"},"modified":"2023-06-30T16:34:00","modified_gmt":"2023-06-30T15:34:00","slug":"5-recruitment-agency-start-up-costs-you-need-to-budget-for","status":"publish","type":"post","link":"https:\/\/www.newmillennia.co.uk\/blog\/5-recruitment-agency-start-up-costs-you-need-to-budget-for\/","title":{"rendered":"5 Recruitment Agency Start Up Costs You Need to Budget For"},"content":{"rendered":"

When you\u2019re thinking of starting up your own recruitment agency<\/a>, then naturally one of your first thoughts is likely to be the investment. Compared to many other industries, start up costs of a recruitment agency can be relatively small, however they can add up and quickly become significant.<\/p>\n

If you\u2019re starting your own recruitment business after years with a large agency, then you may not be prepared for some of the costs. Here we\u2019ve covered five costs you need to prepare for:<\/p>\n

1) Job boards<\/b><\/h3>\n

One cost you\u2019ll likely be highly familiar with, is the cost to use the relevant job boards<\/a>. The cost itself depends on the number of roles posted, so rather than commit to a large long term plan,\u00a0 <\/span>instead start small then gauge the result.<\/p>\n

Specialist job boards can sometimes prove to be more effective than the big players, and may offer free trials for start-ups.<\/p>\n

There are also a number of free job boards that you can use, such as Indeed<\/a>, to help gain interest in your role without spending.<\/p>\n

2) Marketing<\/b><\/h3>\n

When you\u2019re first starting out you\u2019ll need to let people know you\u2019re there! This means considering small costs such as your logo, right through to larger costs such as your website.<\/p>\n

You can easily build a website yourself for free, however you will have hosting costs to pay for. Employing the services of a marketing professional can have many different advantages, however of course you\u2019ll pay more than if you handled the marketing yourself.<\/p>\n

3) Registration and Memberships<\/b><\/h3>\n

Every new recruitment agency must register with Companies House, and there is a small charge to pay.<\/p>\n

Registering with a recruitment body, such as REC<\/a>\u00a0or APSCo<\/a>, isn\u2019t essential. However paying a monthly or annual fee does give you access to many different tools, such as legal document templates and the latest industry news.<\/p>\n

4) Accountancy services<\/b><\/h3>\n

You\u2019ll need to employ the services of an accountant to help you manage your finances effectively. Again, this is something you may choose to handle yourself, but it will take time away from driving new business.<\/p>\n

New Millennia offer an accountancy essentials package<\/a> for a low fixed monthly cost, covering everything from preparation of financial statements to submitting payroll for directors.<\/p>\n

5) Finance<\/b><\/h3>\n

Securing your first successful placement as part of your own business is such a buzz! However that buzz can subside a little when you realise that you may have to wait months before you\u2019re paid by the company you\u2019re working with.<\/p>\n

At New Millennia we offer a 100% recruitment financing option<\/a> to help plug that gap. We\u2019ll pay you, then take on the responsibility for collecting the invoices directly ourselves. We specialise in financing the recruitment industry, meaning an end to your cash flow concerns. Get in touch if you\u2019d like to know more.<\/p>\n","protected":false},"excerpt":{"rendered":"

When you\u2019re thinking of starting up your own recruitment agency, then naturally one of your first thoughts is likely to be the investment. Compared to many other industries, start up costs of a recruitment agency can be relatively small, however they can add up and quickly become significant. If you\u2019re starting your own recruitment business …<\/p>\n","protected":false},"author":17,"featured_media":826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16],"tags":[20,19,21],"class_list":["post-825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recruitment-advice","tag-budget","tag-recruitment-startup","tag-startup-costs"],"acf":[],"yoast_head":"\n5 Recruitment Agency Start Up Costs You Need to Budget For - New Millennia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newmillennia.co.uk\/blog\/5-recruitment-agency-start-up-costs-you-need-to-budget-for\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Recruitment Agency Start Up Costs You Need to Budget For - New Millennia\" \/>\n<meta property=\"og:description\" content=\"When you\u2019re thinking of starting up your own recruitment agency, then naturally one of your first thoughts is likely to be the investment. 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