McGinley Recruitment Services has launched an entrepreneur programme which gives individuals or small teams equity in the business and full back office support in return for ideas and acumen.

The railway, construction, engineering and aerospace recruiter is looking for individuals or small groups, who have recruitment sales experience, to offer business ideas in their sectors with potential to raise £15m in sales and EBIT of £0.9m over the next five years.

Chairman Dermot McGinley told Recruiter: "This is not a franchise model; it is about cross vertical and horizontal selling and taking advantage of our market.

"We have projected turnover of £55m in 2008 and 15% annual organic growth, and entrepreneurial business units are a lot less costly and risky than acquisitions."

Watford-based McGinley takes at least a 51% stake in every business and a capital sum is agreed that is to be invested by the entrepreneur and his team in addition to McGinley's investment.

If the business achieves its targets, after five years the team can sell its stake to McGinley for a multiple of the pre-tax profits of the previous three years, depending on the type of the business.

"We have been in business for 30 years, so we are talking about people who are familiar with our expertise. We will offer them back office support, financial backing and harness their sales ability and operational acumen," added McGinley.

He said there will be a structured exit route which will be decided jointly on day one, offering options to buy the business, trade sale, flotation or management buy in or buy out.

"Sometimes entrepreneurs take a slow start to reach critical mass. We are offering them the opportunity of reaching that in three to five years."

He added that sometimes small businesses or entrepreneurs were stifled because they do not have the compliance, financial or marketing skills.