According to the American Staffing Association, there are nearly 20,000 staffing, recruiting, and workforce solutions companies providing job and career opportunities for approximately 15 million people each year.
“The staffing industry has outpaced overall economic and employment growth in the United States and shows no signs of slowing down,” noted Gibraltar President Scott Winicour. Gibraltar has experience managing the financial needs of staffing agencies to support a variety of initiatives ranging from hiring new talent and maximizing a marketing opportunity to extending client payment terms.
In addition to providing the capital to solve cash flow challenges, Gibraltar now offers a full suite of back office solutions to minimize the demand on human resources and back office teams.
“A shortage of working capital is certainly a barrier to growth,” said Winicour. “But we know that other elements including payroll administration and tax compliance, client invoicing and collections, and workman’s comp insurance are also much needed services during periods of rapid growth for these staffing companies. Working together with our partner, MVP Staffing, we’re providing these services to allow staffing customers to stay focused on growing their business and gaining a competitive edge.”
Learn more about both services and get answers to the top 10 most frequent questions related to staffing factoring in a recently published guide. Click here to download a copy of Gibraltar’s Guide to Staffing Factoring.
The guide defines the fundamentals of factoring, outlines the services provided by MVP Staffing, and answers some of the most salient questions newcomers to the financing tool might have.