When your staffing firm has a cash flow issue, it may seem like an easy fix to reach for the plastic. However, there are downsides to using small business credit cards. Credit cards require a great deal of personal management to stay abreast of changing terms, interest rates and even perks. Your business credit card […]
Not every payroll factoring company is the same. Some operate only within specific industries, and the rate advance can vary accordingly. When reviewing payroll factoring prospects, ask these six questions to gain valuable information in order to make an educated decision. Diligent research will pay-off when you partner with the right factor for your particular […]
These mantras are as familiar to salespeople as they are commonplace in the business world. Don’t take no for an answer. Create a sense of urgency. Keep calling. But while trying to land a big client or close a big deal can be daunting – especially when your prospective client is difficult to pin down […]
Most staffing agencies choose payroll factoring as their type of staffing agency finance. With factoring, staffing firms sell their accounts receivable invoices for a fee to the factor and gain cash up front to pay their employees and other parties. There are two different types of factoring. Recourse – With recourse, the staffing firm assumes […]
Staffing firms have credit constraints due to a variety of reasons, including personal credit problems, start-up business costs, low margins or no working capital. In those situations, they turn to a payroll factor to provide the necessary financing for weekly payroll and other expenses, such as workers’ compensation insurance, office equipment, additional office personnel and […]
You’ve got to look beyond the numbers when it comes to trimming costs at your staffing firm. You want to find a way to spend less money, but if you do it by eliminating a service option that your clients have grown to love, you are not helping your business. The best approach is to […]
Your staffing agency business plan is your blueprint for success, whether you are starting a staffing agency or planning for expansion. Not sure where to start? Here are the five key points to cover when creating your staffing agency business plan. Write your elevator speech. You should be able to describe your new company to […]
You know you need to invest in your staffing agency. But where will you get the funds and where should the money be spent? Getting the money you need could come from a dependable payroll financing source. Payroll financing, a specialized form of accounts receivable factoring, can smooth out cash flow kinks and reduce stress […]
You’ve poured your heart and soul into a client, but it’s just not working out. As a business owner, your first instinct is to save the relationship at all costs. But in some cases, trying to make the relationship work may actually be worse for you – and your client. Here are some signs that […]
You probably have some degree of experience with the dreaded performance review. You might have been on the receiving end at an earlier point in your career, or you’ve more recently reviewed the performance of your own staff. But have you ever conducted a performance review of your staffing agency funding mechanisms? Maybe it’s time. […]