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The recent economic downturn has provided the catalyst for a record number of recruitment entrepreneurs eager to go it alone and start their own consultancies, according to Support Services Group - a leading specialist investment business that focuses exclusively on the UK recruitment sector.
Despite the last two years being one of the most challenging periods the recruitment industry has faced, Support Services Group has successfully helped to launch over 50 new owner-managed recruitment consultancies which they believe is more than any other recruitment investment business in the UK.
Recruitment is one of the most entrepreneurial industries this country has and ever since the recession started to take hold in 2008, we have seen a significant progression in the number of experienced recruiters approaching us for support in helping them start their own consultancies, says Claire Armstrong, director of operations and policy at Support Service Group.
For many would-be entrepreneurs the greatest barriers to starting out on their own can be a lack of funding, support, mentoring, or sound advice from people who have gone through the same process as them or a combination of all these factors. But thats where Support Services Group can help.
Many people starting out on their own can feel isolated with many struggling with the day-to-day management of running their own business. By providing a complete back-office resource ranging from business planning, IT and legal support to marketing and administration, we take on that responsibility thereby enabling the recruiter to focus on what they do best winning new business and making profit.
As an investment business Support Services Group effectively launches new consultancies at no cost to the recruiter. Once the business is fully operational they then charge a decreasing percentage of their clients recruitment fees in exchange for the required on-going support of the new business.
We take the financial risk out of starting a new business while providing consultancy owners with a complete support network that has already helped over 150 consultants set up on their own over the years and their success has led to a collective turnover which currently exceeds 20m, adds Ms Armstrong.
Having enjoyed a six-fold increase over 16 years to become the second fastest growing industry in the UK by 2008, the recruitment industrys fortunes took a turn for the worse with the recession forcing 1 in 5 consultancies to permanently shut up shop while the rest of the sector experienced a drop of 25 per cent in overall billings. Yet despite the doom and gloom Support Services Group continues to confidently assert that now is the ideal time to start a new recruitment company.
The economy is growing once more and individuals who are highly motivated with strong commercial acumen and a passion to offer something better than what is already on the market will do well, adds Ms Armstrong.


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