Making payroll is the most important responsibility for a staffing agency owner. It’s also the largest recurring expense and most challenging responsibility for company owners. Unfortunately, staffing companies can experience cash flow shortfalls because they are growing quickly or lack a cash reserve. This article discusses how payroll financing can help staffing companies that need […]
Staffing Agencies
How to Finance a Technology Staffing Company
Summary: Most staffing companies are launched by entrepreneurs who have a vision but little start-up capital. The companies operate on tight cash flows for their first few years as they grow the client roster. However, growing a company with a tight cash flow is challenging and carries significant risks. All it takes are a couple […]
How to Finance a Consulting Firm
Summary: Most consulting companies are launched with very little capital and few assets. They usually do not have a substantial cash reserve. The company operates month-to-month, using incoming revenues to cover expenses. This approach can work for small companies. However, it can create financial problems if your company is growing. This article discusses how to […]
Why do Staffing Agencies Get Higher Factoring Advances?
Summary: Most factoring companies advertise that they provide an advance of 80% to 90% of the invoice, depending on the client’s industry. For example, a manufacturing company with solid clients will likely get an advance of 80% to 85%. On the other hand, a staffing agency with similar clients will get a 90% advance. This […]