The factors which comprise a potential 'blueprint for success' for small companies have been identified.

Recruitment business start-ups looking to outsource back office services to an agency may be interested in the factors which comprise a potential 'blueprint for success' for small companies.

Warwick Business School has identified the six key ingredients, which include flexibility, business process efficiency, marketing, human resources planning, growth ambition and research and development.

Research by the university found that just over half (57 per cent) of small-to-medium-sized enterprises admit to undertaking no more than two of the listed markers.

"A number of these factors are simply about trying to encourage small businesses to lift their eyes a little bit from the needs of the day," explained Stephen Roper, professor for enterprise at Warwick Business School.

"Firms implementing three of these factors would be growing up to a third faster than firms implementing two or less of these factors."

Starting a recruitment company need not cost an arm and a leg, according to one industry insider who recently said in a discussion on LinkedIn that it is possible to set up one with just £5,000 in capital.