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Growth Guarantee Scheme for IT Recruitment Agencies - Apply
Growth Guarantee Scheme for IT Recruitment Agencies is a plan that helps these agencies grow their business by promising certain results or improvements in their recruitment success. It’s designed to reduce risk and build confidence when recruiting IT professionals. Interested in learning more about how it can benefit your agency? Let’s explore together!
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of Growth Guarantee Scheme for IT Recruitment Agencies?
The Growth Guarantee Scheme for IT Recruitment Agencies is designed to foster sustainable growth and success within the recruitment industry. By providing financial incentives and support, this scheme ensures that agencies can effectively attract and retain top talent in the IT sector, thereby enhancing client satisfaction and contributing to a more robust job market. Overall, it aligns the interests of recruitment agencies with those of their clients, promoting a healthier ecosystem for both parties.
Enhanced client satisfaction
Increased talent acquisition
Risk mitigation
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What are the different types of Growth Guarantee Scheme for IT Recruitment Agencies?
Revenue-Based Financing Schemes
Schemes offering funding based on a percentage of future revenues.
Government-Backed Loan Guarantees
Loans guaranteed by the government to improve access to finance.
Equity Investment Schemes
Schemes offering funds in exchange for equity to support agency growth.
What is the Growth Guarantee Scheme for IT Recruitment Agencies?
Government-Backed Loan Support
The Growth Guarantee Scheme provides IT recruitment agencies with access to loans and finance that are partly guaranteed by the UK government. This makes it easier to get approved for larger funding amounts, even if the business does not have significant assets or a long track record.
Flexible Finance Options
Agencies can use GGS funding for a variety of business purposes, including hiring staff, investing in technology, or managing cash flow. Loans can range from £1,000 (for asset or invoice finance) up to £2 million, with repayment terms of up to 6 years, and there are options for term loans, overdrafts, and asset/invoice finance.
Eligibility and Accessibility
To qualify, IT recruitment agencies (and other SMEs) must operate in the UK, have been trading for at least two years, and have a turnover of £45 million or less. The scheme is not intended for startups but helps established agencies grow, with the government guaranteeing 70% of the loan to make approval more likely.
FAQ’S
Are IT Recruitment Agencies eligible for the Growth Guarantee Scheme?
What types of finance can IT Recruitment Agencies access through the scheme?
What business needs can the Growth Guarantee Scheme cover for IT Recruitment Agencies?
Does the Growth Guarantee Scheme require personal guarantees from IT Recruitment Agencies?
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