Over the past year or so working from home has become the norm for so many, yet with hope on the horizon we might start to see some make a return to the office.
However if you’re just launching your business, starting your own recruitment agency from home can be a great move.
Even with the option of moving into office space, there are many benefits for your new agency to starting from home:
You can keep your costs low
One of the most obvious benefits of starting your own recruitment agency from home is the fact that it helps to keep your costs low.
Investing in office space typically means putting down a deposit then committing to a contract or either six or 12 months.
For a new business this is a big commitment, and it’s coming out of your pocket. On top of the salary you’re going to pay yourself each month, you’re going to have to find the money for rent.
If you have your heart set on office space, you could make it your first business goal to hit a certain level of earnings so you can invest in that dream space!
You won’t need to drain your savings
If you’ve been saving up to leave your current job and go it alone, then you’ve created a great safety net.
By working at home you won’t see that safety net completely disappear before you’ve even had a chance to get your business established.
Keep hold of your resources wherever possible, as not only does it help your business, but it also reduces a little of the pressure on your shoulders.
There are other ways to hold on to your savings when you get started, such as recruitment financing – you can learn more about that here.
You can hit the ground running
Another great benefit of starting your business from home is that you can get going right away!
If you’re leaving a large recruitment agency and setting up on your own, then you can simply set up a desk wherever you have space and get to work.
You don’t have the hassle of ordering furniture or sorting all those unexpected IT issues. It’s just you and your laptop and you’re ready to go.
You can reclaim certain costs
As part of your tax return you’re able to reclaim certain costs if you work from home.
That’s because the cost of running your home, is now the cost of running your business. For example, you’ll likely see an increase in your electricity bill if you don’t typically work from home!
Dependent on whether you establish yourself as a limited company or a sole trader, you’ll also be able to reclaim costs of any furniture or technology you need to purchase.
You can offer flexibility to your candidates
Without being fixed to an office you can offer real flexibility to your candidates. Rather than having potential candidates come and visit you, you can travel to wherever works for them.
This could be a coffee shop for example, that provides you with a more informal way to get to know each other. Alternatively it might simply mean jumping on a Zoom call when it’s convenient.
You could even make use of hot desking office space that is available in many towns and cities, so your office could end up being a different place every day.
Some recruiters can worry that without office space they won’t be taken seriously. Yet by demonstrating your experience, clients and candidates won’t care where you work!
You can enjoy a better work/life balance
Becoming your own boss is a great feeling, and though there is pressure, there are also lots of perks!
You can decide when and how you work, and there’s no better way to do that than by working from home.
If you decide to start early and have a head-down morning, that’s fine! If you to pick up the kids from school or have a session at the gym during the day that’s ok, too. You’re the boss!
Of course you have to be disciplined, or that work/life balance can quickly evaporate.
If you currently work in the recruitment industry you’ll be no stranger to long hours. However with no clear distinction between work and home the lines can become blurred.
Consider setting up a separate space that you can shut off or hide away when you’re trying to relax. This will help you keep some separation between your home life and your work life.
It reduces the risk
Every point we’ve made here is essentially about reducing the risk for your new business. Starting your own company isn’t easy, and recruitment, though an exciting sector, is also a really competitive one.
By starting your own recruitment agency from home, you’re giving yourself the best possible chance of success.
Here at New Millennia we’ve been working with startup recruitment agencies for over 20 years, so if you need advice we’re here to help.
We can offer 100% recruitment financing and back office functions, to keep your business running smoothly. Plus a specialised accountancy service to help your finances stay in order!
If you’d like to know more then get in touch with a member of our team.
