Nearly half of UK owners and managers in the recruitment industry say the major concern for 2007 is attracting good quality candidates and winning new business, according to research from Bibby Financial Services.

It found 38% of agency owners and managers are worried about the increased amount of competition facing them as more and more talented recruitment consultants decide to go it alone in 2007.

Nearly half (47%) of the recruitment sector are concerned about how they will attract quality employees to their agency, while 35% are apprehensive about retaining their existing employees.

Steve Hollings, director of services at Bibby Financial Services says: “With nearly one in five worried about financing the payment of candidates on top of all their other key concerns, it is clear 2007 is going to be a trying year for the recruitment sector.

“However, taking the time to plan ahead and take stock of business could avoid a cash flow crisis. Assessing the market you operate in and identifying your unique selling point could be all it takes to make a real difference and stand out from the competition,” Hollings added.