How To Structure and Transform your Micro-Business Using Finance

Welcome to Season Two of the Recruitment Leadership podcast!   In this season, we're talking all things finance for recruitment, with Nick Russell of Sonovate.   As the Commercial Sales Manager of one of the UK's fastest growing FinTech companies, Nick provides a wealth of knowledge on the often tricky topic of finance and investment.   A three-part how-to series, there's something for every recruitment business in this series.   This first episode is targeted to recruitment businesses who are startups, micro, small and lifestyle looking for advice on how to structure and transform their business using finance and investment.   Episode Agenda: 02:25 - The time from startup to seeking 3rd party funding from organisations has shrunk dramatically over the last 10 years. Why is this? 03:49 - Despite the huge number of startups and low barriers to entry in the industry, financing invoices are generally quite an attractive proposition for providers of finance. Those two things might seem slightly contradictory - why is it such an attractive commercial arrangement for financing organisations? 07:50 - For businesses who originally set up as a lifestyle business, they tend to typically start with permanent recruitment. For those keen to break into the "sexy" action - which is temporary and contract and all those sustainable, visible revenues - whats the key advice for those organisations? What options do they have? What might hold them back? 14:00 - Objectively, what are the pros and cons of using different finance sources such as equity providers, angel investors and friends/family? 22:55 - What is the onboarding process for a micro-business to partner with an organisation like Sonovate? 26:21  - What does the audit that finance companies execute involve?   If you have any questions from the podcast or have any topics you would like to be covered, please email - [email protected] You can also contact Nick Russell from Sonovate at - [email protected]    Please like, share and leave a review if you enjoyed this episode.   Thanks for listening, we hope you join us again next time!