Top 6 Mistakes to Avoid When Starting a Staffing Agency

How to Start a Staffing Agency: Pitfalls to Avoid Early On  Whether you’re interested in how to start a staffing agency or you’ve already begun doing business on your own, congratulations and welcome! The staffing industry is multifaceted and intriguing. When you first start out, though, it can be difficult to know what mistakes you…

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How to Make the Most of Your Staffing Agency Business Partnerships

As a staffing agency owner, it’s important to get the maximum value out of your business partnerships. Ed Burr, Director of Client Growth & Strategy at Encore Funding, was featured on a webinar hosted by UZIO, a technology platform for businesses, to share vital information that all staffing agency owners should know.  Watch Ed and…

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What Do the Recent Bank Collapses Mean for Entrepreneurs?

Exchanging Money between hands at desk

  The recent collapse of Silicon Valley Bank and Signature Bank are the biggest bank failures our country has experienced since the 2008 global financial crisis. These events raise serious questions about the decision-making by leadership at many of the nation’s larger banks. We need more time before the fallout can be fully measured. There…

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What Is Invoice Factoring and How Does It Work?

​​​​​It can often take 90 days or longer to receive payment from customers or clients​.​​ ​Invoice factoring, also called payroll factoring or payroll funding, gives you access to the instant cash flow you need to meet financial obligations.    Staffing companies commonly rely on invoice factoring because long waiting periods make it difficult to maintain operations…

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Payroll Factoring 101: Recourse vs. Nonrecourse Factoring

​​​​​You may already know that factoring is when a factoring provider like Encore Funding buys your outstanding invoices and transfers you cash​. However, it’s important to understand the two main types of factoring, recourse vs. nonrecourse, before you decide how to manage your staffing firm’s capital needs. ​​     ​  ​​​Read on to discover more about…

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Governmental Requirements to Start A Staffing Agency

Government regulations for starting a staffing agency

Rules, regulations, processes – there are many steps required to start a staffing agency and it may seem confusing on the surface. We’re constantly asked: What are the requirements to start my own staffing company? Can you tell me the main steps to follow before opening my own staffing business?   Aside from the regulations…

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How to Write a Staffing Agency Business Plan: 5 Essential Sections

learn how to write a staffing agency business plan

A business plan is a living document that can change as your company grows and should be updated as necessary. There’s no right or wrong way to write a business plan; however, there are several key elements that all staffing companies should have in place as a guide to keep the business focused. Here’s how…

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How to Retain Staffing Employees

how to retain staffing employees

Some temporary employees enjoy the impermanent nature of temporary work, preferring to gain a wide range of experiences. Others take on temporary work in addition to a full-time job for extra money. No matter the employee’s intent, it’s important you know how to retain staffing employees and gain a reliable pool of talent to fulfill…

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How to Recruit and Retain Your Staffing Sales Team

Recruit Staffing Team Encore Funding

Selling in the staffing industry is different than conventional sales; instead of selling a tangible product, you’re selling a service. As a result, recruiting and retaining members of your temporary staffing sales team is a unique process. “Staffing sales is more about education rather than just selling,” says C. Adam Forbes, president of BaronHR. “You need…

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Full-Service vs. Money-only Payroll Factoring

How to choose the right business

Payroll factoring is one of the most popular types of business finance. Within that, there are two types of factoring: money only and full service. Money-only invoice factoring provides strictly payroll funding. You process your own paychecks, print your own invoices and file and pay your own taxes, while the factor delivers cash to cover…

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