Starting recruitment company from home

[Boroboy1980]

I want to start my own online rec company from home but have never ran my own business.

I have a few questions if anyone can help.

1) Can I start with no liquid assets. I won't be selling anything so won't have any overheads besides my internet connection.

2) Do I need any qualifications like investers in people or recruitment certificates

3) I have a full time job so would not be paying myself a wage from the company but will be the only employee. Could I pay myself a one off yearly commision - eg 25% of all yearly profits and be taxed on that?

Thank you for your help.

[MyAccountantOnline]

I want to start my own online rec company from home but have never ran my own business.

I have a few questions if anyone can help.

1) Can I start with no liquid assets. I won't be selling anything so won't have any overheads besides my internet connection.

2) Do I need any qualifications like investers in people or recruitment certificates

3) I have a full time job so would not be paying myself a wage from the company but will be the only employee. Could I pay myself a one off yearly commision - eg 25% of all yearly profits and be taxed on that?

Thank you for your help.

I cant answer 2 but 1 and 3 are 'my' areas -

1. yes!

3. It depends on how you trade ie a soletrader or limited company. As a sole trader you are basically taxed on business income less business expenses regardless of what you draw from the business. With a company its a bit different.

Heres some general info which may be helpful -

http://www.hjcca.co.uk/resources/business_zone/business_helpsheets/helpsheet.php?hsType=9

An accountant will be a good investment if you do decide its a viable option for you.

Good luck with your plans!

[vvaannmmaann]

Try using the "search" function.This subject was well covered a few weeks ago.Good luck with it.

[Earlsweb]

If working from home I would check your legal papers on your property some require authorisation to run business from home from the council!

[cjd]

1. yes
2. no
3. yes (you can pay yourself anyway you feel like)

But none of the above matter, what matters is whether you have a business model an whether you know what you're doing or not.

[2009]

I want to start my own online rec company from home but have never ran my own business..
A recruitment business is a tuff logistical nut to crack, and it cant be solely online without an actual face to face assessment, including you holding copies of passports and so forth. (by law you are as a recruitment agency obliged to see your prospects).



1) Can I start with no liquid assets. I won't be selling anything so won't have any overheads besides my internet connection...
You might think that, and unless you know how to milk social networks, forum, blogs, secondlife and other web2.0 mediums, youre going to need to spend money on candidate databases or join job boards like Monster, Reed and so forth. Only way to avoid that is to milk web2.0, but you gotta know how..You will need to ave contracts drawn up, so there is some cost. Your equipment and time on the phones. Candidate and interview (you actally have to see your candidates before sending them to a client by law) management, invoicing, desputes management. Filing systems to keep confidential information on candidates such as cv's. Candidate progress tracking....th elist goes on, but it is doable, just need to be very organised and dedicated....The only ways you can do it online without actually assessing the candidates yourself is if you run a referal sort of service (similar to zubka)...but that's a few more paragraphs...lol



2) Do I need any qualifications like investers in people or recruitment certificates... Nope none of that as far as i am aware.. You need the skills and knowledge of the sector you recruiting for. Managers hate nothing more that recruiters who send them rubish...and copetition is rife..know what you need to know and know what they need you to deliver

?
3) I have a full time job so would not be paying myself a wage from the company but will be the only employee. Could I pay myself a one off yearly commision - eg 25% of all yearly profits and be taxed on that...
Not my area of expertise..sorry


You need to think about the sector you want to recruit for. Reccesion is bad news in one area and good news in another, think public services, medical and so forth..Offer % referal schemes, get stuck into web2.0 it's free and massive....lots more to go on about but i'll leave it at that for now, besides it's late and my spelling is getting worse..

[Boroboy1980]

thanks 2009 - i always took for granted whilst working for a local rec company that face 2 face was always important. i know it was whilst checking temps, but are you sure its the same with perms?

Can't thay send a copy of there passport and be checked online somewhere?

Surely a paperfree company is what people want, plus no road mileage!!

[Rufford]

I want to start my own online rec company from home but have never ran my own business.

I have a few questions if anyone can help.

1) Can I start with no liquid assets. I won't be selling anything so won't have any overheads besides my internet connection.

2) Do I need any qualifications like investers in people or recruitment certificates

3) I have a full time job so would not be paying myself a wage from the company but will be the only employee. Could I pay myself a one off yearly commision - eg 25% of all yearly profits and be taxed on that?

Thank you for your help.

Hello there.

Be easy on yourself and have a look at http://247staff.info/film/associate and http://247staff.info/associate.

Just a thought :)

[Richie N]

Hi

How will you carry on in your full time job and work from home as well? Will they not clash?
It's not the best time to be starting a recruitment company.....

[Boroboy1980]

they will clash slightly. I work alternating shifts and I'm very hardworking so I'll manage.

I know its not the best time to start, but my theory is, many high street recruiters with high overheads are strugling and closing down, while there are now more and more skilled workers looking for work. I think now is a good time to build a database of candidates for when things start picking up again.

Another question.

My terms of business - Can I write my own terms and as long as my clients and candidates sign them its legally binding?

[Richie N]

they will clash slightly. I work alternating shifts and I'm very hardworking so I'll manage.

I know its not the best time to start, but my theory is, many high street recruiters with high overheads are strugling and closing down, while there are now more and more skilled workers looking for work. I think now is a good time to build a database of candidates for when things start picking up again.

Another question.

My terms of business - Can I write my own terms and as long as my clients and candidates sign them its legally binding?

Have terms written by a solicitor or join the REC and use their model terms.

[Boroboy1980]

How much does it cost to join REC? I've been on their web page and I'm getting info sent to me but i'm impatient.

[Richie N]

How much does it cost to join REC? I've been on their web page and I'm getting info sent to me but i'm impatient.

depending on your turnover, approx. £1000 per year....

[Boroboy1980]

does anyone know any good websites that can help me design mine and how much should I be looking at paying?

I don't need anything too fancy, just a few pages of information for company info and vacancies plus some e mail addresses.

[Boroboy1980]

Surely someone out there knows a good site for designing a web page.

I don't need masses of memory, as most info sent to me would be saved in seperate files.

[Richie N]

Surely someone out there knows a good site for designing a web page.

I don't need masses of memory, as most info sent to me would be saved in seperate files.

Hey, I can forward your details to our website designer if you wish?
PM me with them....