All you need to know to setup your own Recruitment Business

Added: Mar 08, 2018 UTC
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International Recruiters Day is celebrated on March 9 every year. This is the field in Human Resources department that every HR professional goes through at least once in their career. Every recruiter knows how much effort one needs to put in to close every single open position. It takes a lot of time, energy, and money to close each position as per the team’s requirements. Once we spend some time in the industry, most of us have a dream to come up with own venture some day. Recruiters have the best option to start a recruitment consultancy to help their clients fulfilling their requirements.

However, like every startup, there are a lot of questions in our mind as to how we can start with the venture. There is a lot to do as homework before putting in your papers from your full-time job to start your own business altogether.

So, here we are sharing few tips and detailed steps that would help you to set up with your own recruitment agency and live your dream of having your own business.

Accountant: The very first step is to hire a good accountant who can take care of all your needs related to accounts and legal formalities. You will be happy to know most of the accountants give free consultation without charging any money to give you all the information regarding the registration process and initial requirements.

Ask as many questions as you can. You must have a lot in your mind because you are anyways new to this field. My personal suggestion to all the aspirant business owners is ‘Never Assume Anything’. Yes, please never assume any process, any information, its best to ask on the spot. The accountant will help you clear all your doubts then and there.

Finances: Though money is not everything in this world, there is nothing without money as well. You need to arrange the sources of finance for your business as well as your personal expenses and family if dependant. Before putting in your papers, make sure you have all the basic necessities in place because business takes a little time to start earning for you.

Brand Name: This may take a lot of your time. You need to name your business that should be unique, attractive, clear enough to speak about business, not registered earlier, domain name available, and much more than your consultant or accountant will help to find out. Once, it is decided, go for registering your company as an individual entity with the required compliances fulfilled.

Insurance: This may not be on your priority list to get the insurance done for the public liability as well as the business insurance. But, getting it done may help you if needed.

Corporate Account: Once you are done with paper formalities with the government, go for opening a current account with a bank you are comfortable with. Check the facilities they give to the corporate and select accordingly. Every bank may differ in the annual charges, interest rate, monthly withdrawal and transfer limits, chequebook leaf counts, and much more. So, decide after knowing all the details and get the account open.

Working location: Yes, once you are done with setting up your business from backend level, go for a suitable and perfect place for setting up your office premises. It can be a rented space, shared office space, your garden shed, a coffee shop, or anywhere you are comfortable working and fits your budgets. If you are working from home, invest in broadband, phone line, and computers and make sure you are keeping yourself away from staring at the TV in your working hours.

Website: People will ask your company name and go out to search on Google to know more about your venture. So, invest in some money to get the best of the website that will include the maximum information on the website itself. It is easy to get references in near friends and relatives who are good at website designing.

Leaving the job: The last but the most difficult task is to leave your full-time job and fixed monthly salary. Be prepared for the same and inform the management in advance and leave your job on a very good note.

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That’s it. You are all set to work as your own boss. Start hitting on the clients and fulfil their demands and your dreams.

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