In a competitive sector, what's your edge?
Whether you're in the process of starting up a recruitment business, or have an established agency, ensuring that you have the funds available to meet your payroll is essential. Without that worry, you can concentrate on growing your business.
When growth comes, you may need working capital to fund larger premises, perhaps you'll want to hire sector specialist staff? You'll certainly need to invest in updating your IT systems to ensure existing clients continue to receive great service. In your business and ours, excellent customer service is vital.
Without good cashflow, it can be more difficult to react swiftly when opportunities arise. If you win a big new contract, it can be 4 weeks or more before your invoice gets paid; in the meantime you have placed staff that you pay weekly. Payroll Finance from Lloyds TSB Commercial Finance could help you bridge the gap; releasing the working capital to keep you ahead of the competition.
Outsource your back office and focus on growth
Payroll Finance is a specialised commercial finance facility designed to meet your recruitment business needs. If you are VAT registered, we can offer you our fully outsourced Payroll Finance service.
We fund 100% of your weekly wage commitments, paying your temp and contract staff directly on time, every time. From pay slip production, to credit control, to Inland Revenue payments and VAT accounting, our fully-outsourced back office and payroll finance service will handle all key administrative tasks; we also ensure compliance with tax and data protection legislation. You will also receive 100% of your agency profit margin every week; a single fee, expressed as a percentage of your sales, will pay for our services.
Payroll Finance is just one of several funding options
If you have already invested in your own back office, or you are setting up a pure permanent recruitment business, a Factoring solution can ease cash flow and help you release the working capital you need. For larger recruitment businesses (with a turnover in excess £250k) Invoice Discounting may be an invoice finance option to consider.
Contact us today
Payroll Finance, Factoring, or Invoice Discounting; these commercial finance solutions can be tailored to the specific needs of your recruitment business. For a no obligation discussion, have your people contact our people on 0800 169 4356.
Have a look at how we’ve helped a real business…www.ltsbcf.co.uk/why-use-invoice-finance/case-studies/derby-business-employs-lloyds-tsb-funding-to-boost-growth/
The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.