I Haven't Made Any Placements Yet, Should I Engage TBOS?
When TBOS is contacted by a recruiter looking to start their own agency, they may only be at the stage of considering this move and are just collecting as much information as possible about the processes involved to create the new company.
Once they have made the decision on when to start their new recruitment agency, the next question is whether they should come on board at once with TBOS or wait until they have made their first placement.
TBOS makes this easier for the agency as there is a 3-month fee grace period within the service level agreement to help the agency during those months when they are setting up the business and trying to secure that first placement.
This 3-month fee grace period is where TBOS will not charge our back office and accountancy fees until the agency has made their first placement, or if they have been engaged with TBOS for over 3 months.
However, during this grace period, TBOS will still be available to provide help and advice on the formation process, provide introductions to banks, invoice finance companies and suppliers, and help with the registrations with HMRC for VAT and PAYE (and CIS if required). TBOS will also be preparing the bookkeeping for any start-up costs and expenses that may have been incurred to ensure that these are accounted for VAT purposes.
Most agencies will make a placement within the 3-month grace period but if they don’t, at least TBOS has not put a financial strain on the business during those early months and has still provided help and advice to the new agency.
Image Source: Pexels