Many people aspire to be their own boss. Few actually take the step, and often it is because of finance. That finance is the money they need to set up in the business and the security they would lose of a regular monthly salary going into the bank to pay their bills. It has been even more difficult to make the step since 2008 when the financial problems on Wall Street produced world recession. Countries have only just begun to emerge from the problem with the UK now showing more positive signs. Perhaps it is time to act?
No baggage issues
You need to decide whether you can stand out from the crowd. Most business sectors are very competitive these days and getting a foothold as a new business is a challenge. The other side of the coin, however, might be the relative weakness of companies that have suffered a series of difficult years.
In the recruitment sector, existing companies may have found that demand for labour has been limited, perhaps some seasonal work and little else. In these circumstances they may not be prepared for growth and no longer have the labour on their books. It may be the time to strike if you are experienced in recruitment but have been happy taking a monthly salary to date. After all, you will know the pitfalls but will also be aware of the opportunities that growth presents. Growth means demand for labour and nowhere is that likely to be more obvious than in construction where the national housing shortage needs to be addressed.
Business Plan
As with any business start up you will need a business plan, and a detailed one at that. If you are no longer being paid you will need the finance to support yourself as well as that needed for the business. It is worth looking for advice because there are service companies that specialise in recruitment and may have some ideas to help you. Perhaps factoring your invoices is the answer to potential cash flow issues? Perhaps outsourcing your payroll is the way to create more development time for you?
Research
If you want to know how to set up a recruitment agency, there is plenty of information online. Obviously you will know the practical day to day issues of providing labour for clients and the means by which new clients are recruited. The industry is well covered online on such websites as www.startupsimply.co.uk where you can read through the services that are available and the help you can get. You need to get that information together and ask any questions to clarify aspects where you may not be sure of the detail. It is then time to think and take the next step.
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