Recruitment Finance | Factoring | Funding | Bibby Financial Services

Recruitment Finance

What is Recruitment Finance

Recruitment Finance at Bibby Financial Services provides funding and payroll support to help develop and grow your business.

Recruitment Finance is a quick and easy way to help you manage your cashflow and payroll, letting you focus on the day-to-day running of your business.

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We help recruitment agencies focus on their business

Recruitment agencies need to pay temporary workers and contractors while waiting for their invoices to be paid. At the same time, they need to focus on the day-to-day of managing payroll, timesheets and raising and chasing invoices.

Each has different implications for cashflow and the ability to focus on developing their business.

Recruitment Finance Explained

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How Recruitment Finance can help your business

Recruitment Funding is ideal if you need to pay temporary workers and contractors while waiting for your invoices to be paid. At the same time, if you want to reduce your overheads and use your time more efficiently, we can manage the day-to-day running of back office administration and timesheet management.

Our clients also value the reassurance that by working with us, they are complying with all appropriate legal and regulatory requirements.

Our back office support

Our back office support team works on your behalf, freeing up your time to focus on developing and growing your business. Our service includes:

Completing end of year payroll returns such as forms P35 and P60 forms
Calculating net wages and salaries payable
Calculating and paying amounts payable in respect of PAYE, National Insurance and VAT

Preparing and sending payslips
Maintaining statutory pay and statutory maternity records
Preparing and issuing supplier invoices using your company letterheads

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Is your business suitable for Recruitment Finance?

Your business could be suitable for Recruitment Finance if you:

Yes: are a recruitment agency
Yes: issue your clients with credit terms of between 30 and 90 days
Yes: want a third party to manage your back office administration and timesheet management

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Features and Benefits of Recruitment Finance

Features:

Release up to 100% of the cash in your invoices with Recruitment Factoring
No long-term contracts and one simple fee as a percentage of your turnover
Support with back office and payroll management through our partners of 10 years, RSM Employer Services Ltd, the largest pay and bill provider in the UK
Optional Bad Debt Protection

Benefits:

Speed: access to cash within 24 hours
Expertise: dedicated support from an integrated back office and finance solution
Time: we manage your back office support service so you can focus on managing your business
Simplicity: one simple bundled fee means you can budget with ease
Flexible: one-month rolling contract gives you the option to cancel at any time
Industry knowledge: our team of experts have a detailed understanding of the sector having worked in, and directly with, recruitment agencies themselves
Personal: a relationship based approach backed by our Service Promise
Convenience: check your funding and access to real-time reports at any time with our 24/7 Client Online service
Security: option to protect against customer insolvency with Bad Debt Protection

After a year in business, Bibby Financial Services was recommended to find out how they could help my business grow. Realising that I could outsource my administration and free up time to build client relationships was a no-brainer. Knowing they’re on top of all the regulatory requirements gives me peace of mind. Existing Recruitment Finance client

How Recruitment Finance works

Invoice your customers

And send a copy to us

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We pay up to 100% of the value of your invoice

Within 24hrs, allowing you to pay your staff, suppliers and take on new orders

Contact

We collect payment

Leaving you to focus on running your business

Payment

We pay you any remaining balances

Minus any agreed fees