Start Up Business in Recruitment
Good Evening All, after much deliberating I have decided to start up my own Recruitment Consultancy. I am on here seeking advice for the initial steps to take. When it comes to opening for business I am quite confident I have the tools and knowledge to give me a flying start. My dilemma is the before bits…. I am looking for advice on registering as a company, is it best to register as a limited company? Business banking – all advice appreciated. I know I dont need a license as working within the commercial sector but is there anything else I need to consider. Thank you in advance
you can register company here for £5 https://www.theformationscompany.com/
If need any help, plz give me call.
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in terms of company formation then "perhaps" it depends where you are with this.
Ie if this is just an idea you are working on in a small way or if its really going to happen and this is a full time activity for you.
There is a lot to be said for starting off slowly as a sole trader and incorporating if things take off for you (ie saving a lot of cost and complexity, big deal if you can form a company for very little if you have all the compliance that goes with it).
It really depends on the size of the start-up if it would be appropriate from the word go, ie if you are going in all guns blazing with an office and staff then yes, if its just you fitting this round a day job then probably not!
Put it this way if you are big enough to form from the off you should be getting proper advice from day one not relying on forum replies.
James Smith [i]Chartered Accountant[/i] www.jamesesmith.co.uk --------------------------- Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT
Agreed. Starting a business (especially one such as this) needs lots of help, preparation and timing.
Make sure you get impartial advice from places such as business link: http://www.businesslink.gov.uk/bdotg/action/home
All the best of luck!
You can register yourself at Companies House though as other have mentioned, it might be worthwhile seeking advice from a solicitor or accountant before you go ahead and setup your company.
As far as recruitment goes, clearly the Internet is the future. Companies like LinkedIn and Indeed.com have accelerated the shift in this respect.That said, this is definetly not a run race – recruitment actually for me is one area where there is still plenty of room for innovation and startups.
When you think about it, local is they key market. LinkedIn and Indeed syndicate jobs nationally and globally for sure. The local market though, from my experience, still relies heavily on traditional recruitment companies and networks, especially in specialist areas. (Usually those jobs not typically classified as a service)
I think the opportunity here is local, and mobile obviously. That said, recruitment is especially profitable, so you will need scale obviously to see returns.