Chapter 4: Managing Financial Aspects

If you are reading this chapter, then you are really serious about getting started with your own healthcare staffing business. It’s time to discuss the most important thing all businesses need to get started: MONEY.

Either you have sufficient money to get started, or you don’t. In the latter case, you would have to get money from other sources. Before we jump to the point where we discuss how you can get money from other people, let’s talk about how much capital you are really going to need.

It is a fact that starting up a healthcare staffing agency requires more money than many other types of businesses. This is mainly because staffing agencies are required to pay their employees for a couple of months before they themselves get paid by their clients. This requires them to have a decent amount of money in ‘buffer’.

The rate of your projected growth would be a major decisive factor that will help you determine how much money you would actually need to get things started. Once you have figured out the amount, you will have to double it!