Launched in March, recruitment site Staffbay.com aims to revolutionise the online recruitment platform for both employers and candidates. The company aims to turn over £1.5 million in its first year of trading. SmallBusiness.co.uk asks founder Tony Wilmot about how the company got off the ground.

How did you get the idea?

We noticed a gap in the market for firms to hire staff through an online portal in a cost effective and simple manner. In 2010 the average recruitment fee was £4,500 per permanent placement. Staffbay.com charges a flat fee of £500 that businesses only pay if they successfully hire a candidate.

What have the costs been so far?

The costs so far have been purely development orientated; the infrastructure and build of the website, and now we’re putting money into marketing, PR, and SEO. We have invested a good £350,000 so far. By the end of the first year £1.5 million will have been invested in the project, all of which is private financing reinvested from previous ventures.

How did you market it?

The initial marketing push was through PR but also direct mail. Next, we are investing in SEO, promotion on Facebook, affiliate advertising and more PR.

What next?

We are looking to get the product recognised and get that critical mass. Our aim in the first year of trading is to be synonymous with the supplier of choice from a recruitment point of view and we look to be the first recruitment platform in the world that lets employers and candidates liaise with each other right the way through the recruitment cycle.