As one of the fastest growing industries in the UK, recruitment is one of the most popular sectors for start-ups. With little investment required to set up shop, it is a simple process with minimal barriers for entrepreneurs looking to take the plunge.
Providing that you have the experience, skill set and knowledge – there’s little stopping you from making the move to self-employed life.
5 things to consider before starting a recruitment company
- Do you have a niche?
Often recruiters will have a particular industry that they are skilled in recruiting for. When setting up on your own, its important to take advantage of what you are good at. Make sure to keep this clear from the outset as you will be able to attract the best customers and potential candidates this way.
Also, don’t be afraid of having a niche! Focusing on the area of recruitment you are good at will lead to a much more successful business, don’t worry about recruiting for every possible role that comes your way, instead focus on quality work.
- Your background
When working as self-employed recruiter or the owner of a recruitment company, people are buying your story and experience. As you will already be aware, recruiting is a difficult task and simply doesn’t suit some people.
Be sure to have a good level of experience before starting out on your own, as this will provide the foundations for your business.
- Location and investment
Perhaps one of the most important aspects of starting your own recruitment company, where will you be based? Will you start out in your home office, or do you want a workspace from the outset? This ties nicely in with investment too, even though there is little money required to set up, you’ll need to be able to cover the basics such as phones, computer, desk etc.
For those that don’t have this money to hand, it may be worth looking into small start-up loans.
Recruitment is a highly competitive market, so this is something that you need to really think about. How can you make yourself different from the rest, cheaper fees? Better experience? A different approach?
Having this within your plan from the outset will stop you from becoming disheartened when things don’t go your way!
Not only will you need to consider business legislation such as tax allowances, payroll, corporation tax (if you are a limited company) – you’ll also need to be clued up on other regulations such as GDPR.
When operating a business, it is essential to have a good awareness of the legislation surrounding your industry, so be sure to research this prior to the start of trading.
Starting a recruitment company?
If you are considering, or even beginning the process, of starting your own recruitment company we wish you the best of luck – it is a very rewarding career and an industry that is constantly growing!
If you would like to get in touch with our team simply email us at firstname.lastname@example.org and we’ll respond as soon as we can.