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Staffing Information Articles
3 Things to Do Before Opening an Office in a New Market
There may come a point in the life of your business that the prospects of growth, at least significant growth, in your home market are slim. When that happens, you may start exploring adding another office in a new market. By establishing a presence in a new geographic area, you can take advantage of previously…
Read MoreHow Full-Service Payroll Funding Helps New Staffing Firms Grow
The financial decisions you make in the early stages of your staffing firm have a direct impact on how quickly, and how sustainably, you can grow. One of the most important is how you choose to fund payroll. For many new firms, the first instinct is to look to traditional financing. Banks, however, often require…
Read MoreHow to Start a Staffing Agency in 6 Steps
Starting your own staffing business may seem daunting, but I’ve seen plenty of new entrepreneurs succeed by following a few key steps. In general, you’ll want to focus on organization and ensuring you have the time to fully commit to your new endeavor. I would pass that advice along to any aspiring business owner, but…
Read MoreHow to Price Your Staffing Services
Setting the prices for your staffing firm’s services can be tricky. Some of the costs that you need to cover are obvious — the pay rate of the worker, employer taxes (FICA, Medicare, SUTA, and FUTA), workers compensation, any benefits that are paid, plus overhead. But determining the remainder of the markup is difficult, especially…
Read MoreChoosing the Right Path: Types of Business Structure for Staffing Agencies
The type of business structure for your staffing agency isn’t just a legal formality; it’s a decision that shapes the future of your business. It impacts your personal liability, tax obligations, funding potential, and even day-to-day operations. Make this choice carefully to set your agency up for long-term success. As someone who’s built a career…
Read MoreHow Outsourcing Your Staffing Agency Back Office Functions Saves You Time and Money
There’s a lot to think about as you’re running your staffing firm. And with all those to-dos jostling for position, invoicing your clients can get lost in the shuffle. While your mind is likely working through ways to grow your business, critical yet tedious and time-consuming administrative duties can be left unaddressed. That could lead…
Read MoreSigns That It Might Be Time to Find a New Payroll Funding Company
Given the importance of a payroll funding company to the continuity of your staffing firm, it’s critical to take the time to review the relationship and look for warning signs that your provider might be underperforming. When reviewing your payroll funding partner, consider whether full-service or money-only best serves your business. In addition to advancing…
Read MoreHow Payroll Factoring Helps With Accounts Payable
In a perfect world, you would send an invoice to a client and the client would send you a check upon receipt. But in reality, it hardly ever works that way. Instead, you send an invoice, and it could be 30, 60 or even 90 days before you get paid, which can make it difficult…
Read MoreWhat Is Payroll Funding and How Does It Work?
After working with hundreds of staffing entrepreneurs over the past two decades, I’ve seen how payroll factoring for staffing companies can create major positive change in their finances and operations. But first, let’s take a step back. Your big financial obligations probably look something like this: Workers’ compensation insurance Advertising and marketing Office equipment and…
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