What are the benefits of starting a business and working for yourself

What are the benefits of starting a business and working for yourself

What are the benefits of starting a business and working for yourself?

A great number of millennials are now working for themselves, it is a trend we have seen growing over the past few years and it is continuing. This start up boom is not limited to this generation but they’re certainly making their mark on the start up scene.

Start ups take money, time and a lot of hard work. As many of us know, being your own boss sounds great on paper but start ups are no mean feat and come with their own trials. Why, then, is this such an attractive option to so many? What is it that is drawing our entrepreneurs to the conclusion - ‘I want to work for myself’?

Independence

Many, in all lines of work, not only recruitment, will work as an employee for years and experience being one of the cogs that make the wheel turn. You might experience career changes and growth, perhaps manage your own team, you may even work with flexible hours, however there is nothing like being your own boss when it comes to independence. Starting your own recruitment firm enables you to take control of your own success.

New Millennia can offer 100% funding and non-retention, non-recourse financing - rather different to factoring, which can be a little confusing and time consuming when it comes to your accounts, our route to start-up financing is simple and flexible, leaving you to concentrate on growing your agency.

Flexibility

You may be very experienced in recruitment agency work, however, as with any business, running your own show is a different game altogether. In a recruitment agency your back office needs to be as sleek as possible to run as efficiently as possible. A start-up doesn’t always have the manpower or time that it really needs to run its back office. With timesheets, contracts, invoices and payments to organise and execute well, keeping both your workers, and your clients happy at the same time, there’s plenty here to support those fears that management of your back office could be your downfall.

In addition to this, you can choose your hours to work around your life, from making the school run on time to easily finding time for that doctor's appointment.

Challenging yourself

Your personality, ability, resilience and skills will be put to the test when working for yourself and taking on a start up business, however what you learn from these challenges will be valuable to you as you grow. Plus challenging yourself may well be something which propels your inner entrepreneurs to success.

Personal Fulfilment

You have the knowledge and experience and with that experience will likely have witnessed first hand the mistakes made by others (or yourself), so now you have the opportunity to utilize your own skill set and to prove that you can create your own, improved, or unique start up - the personal fulfilment and reward from this success is surely worth working hard for!

Choosing your team

Whether you're starting from scratch or you have your core team planned from day one, the team that you choose to lead your venture through start up to fruition and beyond, is yours. You can choose your people and change and add to them as you see fit.

Choosing your team

Whether you're starting from scratch or you have your core team planned from day one, the team that you choose to lead your venture through start up to fruition and beyond, is yours. You can choose your people and change and add to them as you see fit.

Building your own company culture

In the same vein, you are able to create a company culture that holds all of the values you choose for your start up. Build the organisation that your staff (your chosen team) will desire, and will work productively as a result of.

If you’re thinking about it or you have begun, you will already be aware that both hard work and dedication are needed when starting your own business. But the gains don’t all come in monetary form, there are so many other benefits of working for yourself, this list is not exhaustive.

See how New Millennia can help your start up recruitment firm and add to the benefits of starting your own business here

Whats Stopping You Starting Your Own Recruitment Agency

Whats Stopping You Starting Your Own Recruitment Agency

Recruitment Start-up Fears: What’s Stopping You Starting Your Own Recruitment Agency?

Have you ever considered starting your own recruitment agency? Perhaps you have stacks of experience in recruitment but just aren’t sure if you’re ready to go it alone, or can’t shake those recurring concerns; sound familiar?

Stepping out on your own is a big step to take, no matter how experienced or confident in your own skills you are, unfortunately the ‘fear factor’ can step in and it’s a tough one to overcome. We’ve worked with recruitment start-up for over 15 years so we’ve seen the challenges that new start-ups can face. The fear of failing is natural when trying something new and even more so when doing something new that involves a little risk. However if you can identify the areas that could beckon failure in your direction, then you’re much better equipped to defend your venture and succeed. So, what are those fears that are preventing you from starting your own recruitment agency?

Financing

The first one to most people’s minds will likely be finance. A start-up takes money, it takes investment and this can be scary. It means either having your lump sum there already or having to find cash from somewhere and it can be difficult for start-up’s to secure bank loans, especially in the beginning. Why will you need a financing plan? Well, as a recruitment agency, there will be cash coming in and out from various sources, funding ensures that should you need to pay your workers before you have been paid by you clients, this is doable and doesn’t become an issue.

New Millennia can offer 100% funding and non-retention, non-recourse financing - rather different to factoring, which can be a little confusing and time consuming when it comes to your accounts, our route to start-up financing is simple and flexible, leaving you to concentrate on growing your agency.

Management

You may be very experienced in recruitment agency work, however, as with any business, running your own show is a different game altogether. In a recruitment agency your back office needs to be as sleek as possible to run as efficiently as possible. A start-up doesn’t always have the manpower or time that it really needs to run its back office. With timesheets, contracts, invoices and payments to organise and execute well, keeping both your workers, and your clients happy at the same time, there’s plenty here to support those fears that management of your back office could be your downfall. However, as many recruitment agencies are doing already, you have the option to move to an automated, digital, back office system.

New Millennia offers a back office assistance with the following features:

  • Online timesheets
  • Digital signatures
  • Online Portals
  • Digital contracts

With individual portals for clients and workers, all of these back office, management tasks are easily taken care of in one place; your workers log on and complete their timesheets and expenses, your invoices are sent out and your workers are paid. Plus, these portals also offer the ability for your staff to work anywhere, anytime, an often required part of business today - your business accounts can be managed from anywhere.

What’s going to make you stand out?

Why should your venture succeed against all established competition? Knowing your market will stand you in good stead here, if you know your market you can find your place in it - find your USP. This might include finding aniche, combatting the ‘just another fish in the sea’ mentality, you’re not just a recruitment firm you’re a temp recruitment agency for example.

Finally, there’s only one thing left to do, once you have your financing routes decided and your back office system planned, your market thought out and are secure in the knowledge that your start-up fears have been solved,you need to make the final push and begin. New Millennia can’t help you take that final leap but with the knowledge that you have the tools to succeed, hopefully we can make it a little easier. We can reassure you that the help you need to run a smooth, efficient and effective recruitment agency is there once your start-up wheels are in motion.