Setting up a new business

joanne2510
joanne2510 Registered Posts: 13 Regular contributor ⭐ 😼 ⭐
I was just wondering if anyone works in the recruitment industries. I am currently toying with the idea to go into business with someone who wants us to det up a recruitment company supplying temporary workers.

Any advice on regulations and insurance would be a great help?

And the must haves (so to speak) would be great. I have done quite a bit of research but still not sure where to look to find out what exactly I need to get the company going.

Any help would be appreciated

Thanks

Comments

  • payrollpro
    payrollpro Registered, FMAAT Posts: 427 Dedicated contributor 🌟 🐵 🌟
    Joanne,

    Sounds like a good idea, most of us are so fed up with the high street agencies one wonders why we bother going through the motions, knowing they will treat us like dirt.

    You will still need to speak to the MIP team at AAT because even though it is not accounting services you are providing you are still in business providing services to the public and B2B and it is still related to accounting. They will make sure you have the right set up, insurances etc.

    You have to look at the recruitment and agency workers regulations and it is worth studying the qualfications available because there are issues specific to this industry. I can put you in touch with a friend of mine who has worked for agencies and set up her own businesses, for both recruitment, agency temporaries and dabled in the consultancy market (which is totally different even though mainstream agencies try to run them like temporary assignments and make a complete mess of them).

    Insurances are a must and they will be costly but do not skimp on cover because the risks are higher when you are placing recruits and temps in a clients premises. If you are setting up a Ltd company you will probably be an employee of that company and whilst the companies act exempts you from needing employers liability insurance for yourselves, it is well worth having. You need it anyway for temps, they may not be employees but you are acting as the employer for the purposes of PAYE and various other statutory requirements.

    Could go on, but I hope that helps. Be useful to hear other views on the subject.

    Payrollpro
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