Increasing Pay Cycle Terms and the Effects on Staffing
One trend over the last few years in staffing is increased payment terms from net 30 to 60 or even 90 day cycles. Although staffing as a whole is growing, increasing business doesn’t translate immediately into cash flow to cover payroll and other expenses. Plus, larger companies on average have longer payment terms. Just because…
Choosing an S Corporation or LLC for your staffing firm
How to Start a Temporary Staffing Agency
Temporary staffing is a challenging but rewarding industry with few barriers to entry. It is a great time to consider starting a temporary staffing agency. The industry recovers quickly from setbacks, and companies always need labor. When starting a firm, we think there are four key things you must consider: people, technology, insurance, and payroll…
4 Tips to Support Operational Sustainability
Sustainability is defined as, “the ability to continue a defined behavior indefinitely.” So when it comes to your day-to-day operations, evaluating, refining and sustaining consistent behaviors is critical for long-term growth. At Advance Partners, we view operational sustainability as the most basic component of a solid foundation for your staffing business – regardless of size. …
4 Tax Tips for Staffing Companies
Ah, tax season. The time of year where if you listen closely, you can practically hear the yawns of overworked accountants echoing through cubicles all over the country. For staffing firms, tax season can be a headache if you haven’t kept good records or taken the proper steps to ensure your paper work is in…
How to Sell Your Staffing Firm
The 5 Qualities of Successful Staffing Firms
What is it that determines business success? When it comes to staffing, it isn’t any one thing that determines whether your firm succeeds, fails, or just gets by. It’s a combination of many factors, some that you can control and others that you cannot, like the general state of the economy. While there isn’t a…
What a Possible Recession Means for Your Staffing Firm
Staffing Agencies and Safety: A Quick Overview
Safety is one issue that staffing firms should take very seriously, because accidents and worker’s compensation claims have serious implications for the long-term health of your business. Just look at what’s happening in the industry: the Department of Labor has been cracking down on both clients and staffing firms when it comes to worker safety….