Permanent recruitment agencies, supported by Simplicity, exceeded the £10 million mark for the first time in the financial year 2018-19.
With employment rates running at a record high combined with skill shortages in many sectors; this has led to a sharp rise in demand for recruitment agencies to help organisations fill available vacancies. It has also served to stimulate the recruitment start-up sector, which has seen more new agencies entering the market than ever before.
Indeed, figures from Companies House show that around 9,000 new recruitment businesses were registered during 2018 – the fastest rate of growth ever recorded for the sector. A major factor contributing to this growth is access to finance, as Managing Director at Simplicity, David Thornhill explains:
“Roll back the clock 15 years ago, and the only source of funding would-be business owners had available was to obtain a loan or overdraft from their bank, or dip into their savings. But this was often restrictive and if neither option was possible, the individual’s hands would be tied.”
Fast-forward to today and those financial barriers have been significantly lowered. Simplicity offer 100% recruitment finance to recruiters with ambitions to start their own business.
Tracey Hayes, manager of the Permanent department at Simplicity, added: “The finance market has undergone a dramatic – yet positive – upheaval in recent years. This has seen a wealth of ambitious recruiters who are eager to capitalise on the growing demand for permanent placements services.
“However, few finance providers have a true understanding of the perm sector, the challenges it faces, and the nuances associated with operating away from contractor recruitment.
“But Simplicity is different. Our unique 100% Permanent Recruitment Finance Solution and Perm Admin Team have helped thousands of recruiters start and grow their agencies, without restrictions. Plus, with additions like our 12-month rebate scheme, recruiters have access to a solution that can help them get ahead of the competition.”
For more information about Simplicity and the support services they provide for Permanent recruitment businesses, go to https://www.simplicityinbusiness.co.uk/services/permanent-start-up-agency/