Over one thousand new agencies launched in first half of 2015
The data taken from Companies House also reveals that in the same period of 2014 (January-June), 724 new agencies were launched.
Commenting on the data, Sonovate co-founder and CEO Richard Prime says, “The recruitment industry is in robust health and I’m excited to see so many new agencies launching all the time. We’re facing an increasing number of skills shortages across various sectors including science, engineering and manufacturing technologies and recruiters must be on hand to overcome these challenges.”
According to the Recruitment and Employment Confederation (REC), the recruitment market is worth £28.7 billion, with temporary and contract recruitment making up 91% of this (£26 billion).
Prime continues, “It’s important that small and start-up agencies are able to access the level of finance required to fund contractors from day one. But it’s not always easy for the smaller agencies to access this kind of finance from the banks they overcomplicate the lending process and impose heavy restrictions on agencies which can really hinder growth.”