Is it the right time to start a recruitment agency?

07 Dec 2020

Starting Your Own Business

In 2008 when the financial crash happened, doubt crept into the recruitment industry.

Permanent placements dropped and temporary recruitment soared.

Understandably due to the events of 2020, we’ve seen that same doubt creep back into the industry.

If you’re considering starting a recruitment agency, you’re probably wondering – is now really the time to do it?

To give you the short answer, yes!

We’ve seen an increase in new recruitment startups since the first UK lockdown, and we’re glad to say many have progressed well.

Throughout 2021 I expect the temporary market will continue to be very busy, as employers look for support without making as many long term commitments.

People want to know, which sectors are performing best? Which specialism should I choose to focus on?

Currently there is lots of work in construction, manufacturing, logistics and engineering, and of course healthcare is going to be extremely busy for the foreseeable future.

However my advice is always to focus on the industry that you know best, regardless of how it’s doing right at this moment. Starting a new business is daunting enough, without adding a new sector in to the mix.

If you are considering starting an agency right now you need to be safe, by keeping your costs to an absolute minimum.

You don’t need a big furnished office when you’re starting out. Get the money coming in and then have a wish list, itemised by priority, that you can tick off once the money starts flowing.

Here at New Millennia we’re here to help. We offer the perfect solution for new recruitment agencies.

We’ll take care of all the back office functions and, most importantly, the funding of the workers  you have in place, which will maximise your growth potential.

2020 has been a hard year and the recruitment industry has certainly suffered.

But if there’s one thing I know, after spending my life working in the sector, is that it’s a resilient industry that will come back stronger than before and you should feel proud to be a part of it – I know I am.

Paul O’Rourke

Operations Director, New Millennia

Paul O'Rourke Operations Director New Millennia

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