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Staffing Information Articles
How Staffing Agencies Make Money in Their First Year
New staffing entrepreneurs often wonder, “How do staffing agencies make money?” It’s a question new clients pose to us all the time. It may seem like you have to operate without a profit for several years while you grow your business, but this isn’t the case. In the early stages of your business, consider actions…
Read MoreInvoice Funding Fees: How Much Does It Cost?
When I talk with staffing entrepreneurs about invoice funding, they inevitably say, “This sounds great, but how much will it cost?” It’s a fair question. Because invoice funding is a flexible financial tool, the fees can vary. Read on to uncover how much invoice funding costs and the extra benefits it offers compared to traditional financing. How to Know What Your Invoice Funding Fees May Be The…
Read More7 Things Staffing Agency Owners Wish They Knew Before Starting Their Company
If you’re a new staffing agency owner, you want to be armed with information that seasoned staffing pros already know. Many successful owners have made their fair share of common mistakes early in their careers. Some have taken on any client that comes knocking; others have underestimated the power of factoring for staffing companies. Below,…
Read MoreTop 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…
Read MoreHow 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…
Read MoreWhat Do the Recent Bank Collapses Mean for Entrepreneurs?
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…
Read MoreWhat Is Invoice Factoring and How Does It Work?
As a staffing entrepreneur, you may wonder, “What is invoice factoring?” Craig Cohen answers this, plus insights on whether it’s right for you.
Read MoreRecourse vs. Nonrecourse Payroll Funding for Staffing Companies
You may already know that payroll funding is when a funding provider like Encore Funding advances cash against your outstanding invoices. However, it’s important to understand the two main structures, recourse vs. nonrecourse payroll funding, before deciding how to manage your staffing firm’s capital needs. Read on to learn the key differences between recourse and…
Read MoreGovernmental Requirements to Start Your Own Staffing Agency
When I talk with staffing entrepreneurs about how to start a staffing company, the first questions are usually about finding clients, choosing a niche, or picking software. Those are important, but the truth I share right away is that the biggest early wins come from getting your government and compliance foundations right. Common misconceptions I…
Read MoreHow to Write a Staffing Agency Business Plan: 5 Essential Sections
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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