This article was written by James of www.initiate8.co.uk
You’ll always find reasons not to start a business:
“I can’t afford to.”
“I’m no good at paperwork.”
“I’ll be out on a limb.”
“What if I fail?”
But what if there is no right time? What if there’s more help available than you thought? What if you succeed?
If you’ve experienced sustained success in you current role and feel you should make a move, let’s look at the positives…
Stats
- Recruitment is a growth industry. In 2013/14 turnover was £28.7 billion (an 8.2% rise on the year before) and increased market growth is predicted (Recruitment Industry Trends Survey 2013/2014).
- In this same period recruiters helped 634,000 people find a new permanent job.
- 50% of the UK work force is looking for, or open to, another job.
- Competition for quality candidates is increasing; existing resources are stretched, particularly in specialist/niche market areas.
Recruitment is a vibrant industry with opportunity; statistically this is a great time to make a move.
Technology
Do I need an office, or staff? With the aid of technology… you don’t!
Recruitment is a relatively easy start-up: no stock/manufacturing considerations and little initial outlay.
Technology has made vast changes to the way we work, paving the way for the individual to make a meaningful impact:
- Working from home is a viable option.
- Easy access to cheaper, faster, improved hardware/software.
- Sourcing/outsourcing is a click away.
- You can check the credentials of your candidates (even samples of their work) online.
- The ability to interview remotely and promote your business via social media.
Making an impact
Personal reasons for starting a business are many and varied:
- Challenging yourself, learning new skills and developing your self worth are important. As your own boss, the challenges and rewards are personal.
- The ability to implement your vision for the future under your own leadership.
- Working around existing commitments. Are you fed up with missing important events in your child’s life, or feel that your work/life balance could be better? As a business owner, you will have to put in the hours, but you will have more freedom with your time.
Your profit
Why take home silver when you can take home gold? Being your own boss means you retain the lion’s share of your billing and although you will incur additional outgoings, especially in the first few months, the long-term financial benefits are self-evident.
Still worried about the risk?
It’s wise to worry. You need to plan adequately for any venture. However there are ways to manage risk. One is to employ the services of an ‘incubation’ company. In 2014 Telefonica UK reported that the 2-year survival rate for a new business with the assistance of an incubator was 91% compared with 76% overall.
Initiate8 is an established, well-regarded incubation company that can help. We support, mentor and fund talented, ambitious professionals who want to set up their own recruitment companies. If you’re great at client facing, but not administration, we provide full back office support. If you’re worried about financing a start up we provide job boards and help with IT and marketing. If you’re wary about setting up on your own, we are here to support you as an individual. Initiate8 is a 24/7 service dedicated to your success. Contact us to discuss how you can create your future with our help.
