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How Banks could Adversely Affect the Future of your Recruitment Business

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It’s ’s been a gruelling few years for both the economy and the recruitment industry. Now, as the UK economy seems to be picking up, Simplicity and the IOR have released some interesting (and very telling) findings from their 2012-13 survey of recruitment business owners.

The study, which acknowledged the worries and concerns of those at the heart of the industry, investigated how easy or difficult it was to access funds during the recession; funds that in 2014 are still imperative, should you wish to grow your recruitment business.

The findings give an exact reflection of some of the more damning headlines of the time – bank losses, job cuts and lost faith. Of those who opted for external funding through providers such as the banks, 28.7% of respondents found that their credit and funding limits were restricting the business from growing. With 55.2% experiencing stunted growth due to lack of funds, there was a huge gap in terms of confidence and investment – and the blame seemed to be aimed directly towards the banks.

SOURCE: simplicityinbusiness.co.uk