Simplicity’s 100 per cent Permanent Recruitment Finance Solution exceeds £10 million.
Industry growth powers business.
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. This has been 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 per cent 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 per cent 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/