Over 5,000 recruitment agencies started in 2015 as sector grow 'faster than ever before'

The UK recruitment sector had one of its best years ever in 2015, which may be the reason as to why 5,110 new recruitment agencies were launched last year.

The number of recruitment startups was revealed in research conducted by the recruitment contract finance provider Sonovate.

The data was taken from the Companies House. It revealed that the number of recruitment agencies per annum has increased by 144% compared to the 2,092 agencies launched in 2010.

Richard Prime is the CEO of Sonovate. He comments: “The UK recruitment sector is growing faster than ever before and these figures are just the latest indication of the robust health of our industry.

The news comes after the Recruitment and Employment Confederation (REC) released figures revealing that the recruitment industry had its best year ever in 2015. The total recruitment industry turnover increased by 9.7% in to reach £31.5 billion last year.

Prime continues: “The way people work is changing. With the well-documented skills shortage more and more skilled workers now view contract work as both an attractive and lucrative form of employment. This presents a huge opportunity for recruitment companies but crucially they need the right finance to help them succeed.”

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