The “Sharing Economy” and the Temp Staffing Industry

The “sharing economy” is real. In order to save money, people are relying on strangers more, and strangers are sharing more. A recent Nielsen study tells us that over 50% of people would rent their property to other people, and more than 40% would rent from others. Additionally, the total worth of this market, according to Nielsen, is estimated at $26 billion.

How can this trend affect your staffing business and the temp staffing industry? For one thing, it shows that more and more people want to use services temporarily and not buy permanently, which means that your staffing agency is in a prime position to take advantage of new demand for temp workers.

To take advantage of all the opportunity for growth, however, your staffing agency will need a strong cash flow and a constant source of funding, so you never have to worry about not being able to keep up with growth or wasting time covering payroll and basic expenses.

Invoice factoring is the best and easiest type of funding. Almost all staffing companies can get approved, and re-approval is not necessary if you need additional funding. Invoice factoring allows you to sell your invoices and get cash instantly. It’s the only type of funding that grows as your business grows, so that you can attain greater and greater success.