Payroll Service

 Payroll tax is a regressive tax and more expensive than income tax, which pays for two social insurance systems namely Medicare and Social Security.

The payroll data is to be given to the payroll service provider. This can be done through a telephone call, fax or via the internet. Payroll tax outsourcing will eliminate workload in the areas of processing payroll tax and related aspects. Experts at the outsourcing agencies will manage monthly or quarterly employment tax reports and submit them correctly and on time.

Payroll tax calculations will be different according to the area and the structure of the firm. 940 and 941 tax issues require a complex understanding of the differences in the revenue code between these taxes and personal income tax. Most of the payroll services offer the option of filing state and federal payroll taxes for your business. Several avenues of tax relief exist in both federal and state tax codes. The services provided by the outsourcing company also include finding these avenues and reducing your overall tax. The companies balance QTD/YTD deposits to liabilities to ensure all your payments are accurate.

Payroll tax outsourcing service providers also give guarantee for their work and assume the penalties that may arise in the wake of incorrect tax calculations. Most of these companies offer the support for payroll tax data extraction, payroll data migration, wage garnishment distribution, and payroll tax filings. By outsourcing your complete payroll tax you can have a risk free compensation at market rates for your tax funds awaiting payment, tax payment management and no penalty payroll tax payment.

Payroll Outsourcing provides detailed information on Payroll Outsourcing, Payroll Outsourcing Companies, Payroll Outsourcing Services, Payroll Tax Outsourcing Services and more. Payroll Outsourcing is affiliated with Payroll Processing Services.

Outsourcing is a process where a company will choose to pay a specialized third party to manage specific work functions. For small business owners, outsourcing can prove to be a valuable asset in providing payroll management assistance as well as accurate records and detailed reports.

Payroll outsourcing allows a small business to concentrate on its core responsibilities while payroll services are handled efficiently. This can lead to improvements in operations, customer service and sales.

Payroll Outsourcing Services

Companies that specialize in payroll outsourcing provide numerous valuable services. Among these include:

* Tax Remittance: Payment of all the required federal, state or local payroll taxes on time and with guaranteed accuracy.
* Direct Deposit: The employee’s paycheck is deposited into their individual account precisely on the predetermined day.
* Tax Changes: Any alterations in federal, state or local payroll laws and regulations are promptly implemented. * Payroll Reports: Accurate and detailed payroll reports are usually available online 24/7.
* Form Generation: Employees and independent contractors are supplied annually with W2 and 1099 forms.
* Pay Stubs: Automatic creation of both hard copy and digital employee pay stubs.
* Payroll Data Security: All payroll data is securely encrypted to ensure privacy and safety.

The Many Outsourcing Advantages

Small businesses can benefit substantially from using a payroll services company. In addition to the convenience, outsourcing payroll can provide significant cost savings when compared to a full time employee or dedicated department. In fact, studies show that savings can be as high as 40% per employee in some instances. Overall payroll costs become fixed and only increase as the business grows.

Reliability and timeliness are extremely important in matters pertaining to payroll and taxes. Utilizing payroll services ensures that employees receive their paycheck on the specified day with the exact amount of withholding submitted to the appropriate government entity.

Since meeting payroll is time critical, losing a key payroll employee can result in disruption to the overall business operations. This can occur for a variety of reasons including sickness or attrition. Outsourcing payroll eliminates unwanted distractions and helps guarantee that payroll functions will be smooth and consistent.

Payroll is a relatively complex process and the typical small business owner is usually not well versed in the intricacies of tax law. The time involved in learning payroll management is typically better spent concentrating on improving sales and operations. Payroll service providers have years of experience in understanding the associated liabilities and taxes which ensures the accurate completion of accountant ready documentation.

Comprehensive reports from the payroll company will also present the business owner with a valuable tool that can be used for evaluating overall productivity. This information can then be applied to other cost analysis methodologies to help improve profitability.

Explore Payroll Outsourcing

Inaccurate payroll or tax computations can result in bottlenecks that affect every aspect of the operations in a small business. Employees count on paychecks that accurately reflect their net pay and the appropriate deductions. Payroll services management will address every aspect of the payroll process.

In today’s business industry, outsourcing is an option taken by many companies. Outsourcing is simply the process of contracting a third party company to provide business solutions and services beneficial for the growth of the business. One of the common services offered by outsourcing companies is payroll services.

Payroll outsourcing services is the process of running your payroll system through a payroll service provider. Many large companies have the funds to maintain an in-house payroll department. However, for the part of small and medium companies, keeping their own payroll team can cost them a lot in terms of operational costs. Just imagine having a set of employees working on salaries, benefits, and taxes of their fellow employees. You will be spending more than what you can get since payroll specialists wouldn’t be working the entire month to fix payroll system.

Aside from saving costs, payroll outsourcing services also enable you to enhance your productivity. Without spending too much time fixing payrolls, you will be able to focus on your business. You don’t need to be torn apart from the responsibility of computing your finances and meeting a client for business as you will not be tied to the former.

Another benefit of payroll outsourcing services is accuracy. Since fixing your employees’ salaries need to be accurate all the time, you can expect your payroll service company to provide error-free computations of your payroll. Inaccuracy in financial matters may cost you a lot since it is bound by the law and you will be paying more than what you expect. In cases when your payroll outsourcing provider commits mistakes, you can ask them for a restitution – something you cannot ask from your payroll specialists.

You can also expect payroll outsourcing services to be reliable. Your payroll system won’t be affected by employee’s sickness and vacations. You can expect them to finish their work on time without being hindered by the absence of their employees. They also have the right equipment and resources to suffice their client’s expectations.

Opting for payroll outsourcing services also guarantee you that you are safe from payroll frauds and manipulations. You can leave the rest of the job to your provider and never worry about missing out anomalies within your payroll system. No hassles, no headaches, only peace of mind.

Baird Hosts 15th Annual Business Solutions Conference: Senior Business Services Research Analyst Mark Marcon Shares
Outlook for Sector

BOSTON — February 20, 2008

    ”We are pleased to host leading business services companies and investors for this important and timely conference,” said Director of Research Robert Venable. “This year’s conference is particularly relevant for Human Capital Services companies, as investors seek to understand how a slowing economy will impact this sector.”

Q&A with Senior Human Capital Services Research Analyst Mark S. Marcon, CFA

As a preview to the conference, Baird spoke with senior research analyst Mark Marcon for his outlook on the human capital services sector. Marcon recently published a special report that provides considerable detail on the investment potential of human capital services stocks during an economic slowdown.

How will the slowing economy affect human capital services companies?

Fundamentally, most human capital services companies are tied to the labor market, and the labor market slows as the economy slows. Clearly, the economy is slowing and, potentially, entering a recession. The data that we look at suggests that the labor market is also in the early stages of slowing. We think the slowing labor market will impact earnings in the short term. That said, human capital services stocks are one of the first stock sectors to reflect concerns regarding a slowing economy and many stocks have already discounted a downturn. Valuations are now very attractive for a number of these companies.

What signs/indicators are you watching?

Recent labor market data, including the January BLS employment report, has been weak. The rate at which the economy is adding jobs has clearly slowed. Manufacturing and construction employment has already declined. Forward looking indicators like the Monster Employment Index and the Help Wanted Advertising Index, which both provide a measure of hiring intentions, indicate broader slowing in the labor market is likely. The ISM non-manufacturing index fell to levels that are consistent with a recession in January. All of these data points suggest a more challenging near-term fundamental outlook in the U.S.

What scenario do you believe is most likely for the sector?

We believe there are three likely economic scenarios: 1. A moderate slowdown followed by an upturn in the second half of ’08; 2. A mild recession; or 3. A severe recession. Many argue that a mild recession is the most likely scenario, and that is what the data suggests to us.

In the first scenario of a moderate slowdown, we believe many human capital services stocks would likely provide outsized returns over the near term as many investors have already discounted a recession. Even if a mild recession occurs, we still believe that there is an attractive investment opportunity over a 1-to-3-year horizon, though some near-term volatility would likely exist. In the event of a severe recession where fundamentals remained depressed for a prolonged period, it could take longer than 2 years for some stock prices to reach prior peaks, but we believe these stocks would likely outperform over a three-to-four-year period. Even in the case of a severe recession, the stocks would likely be volatile, both to the up and downside, creating shorter term trading opportunities.

What impact would a recession have on their fundamentals?

In past recessions, staffing and recruiting companies experienced material declines in revenue and profits. In the case of HR and outsourcing services, such as payroll service providers, the cyclical influence isn’t as great as many companies feature fairly predictable recurring revenue stream models. We have already reduced our estimates for the companies on our coverage list to reflect our assumption that the US will enter a mild economic downturn.

We believe that if there is a moderate recession, most human capital services companies will perform fundamentally better than they did during the last slowdown that started in 2001. First, Corporate America has been generally more disciplined about hiring during the latest expansion relative to past expansions – we simply haven’t had the bubble and euphoria that characterized the labor market of the late ’90s and 2000. As a result we would generally expect a correspondingly smaller labor market contraction in a downturn. Likewise, we believe the staffing and recruiting industry, is also likely to see a less serious contraction than was experienced during the 2001-2003 downturn. Also, because the Fed Funds target rate will likely not be reduced as much in this cycle as it was in the previous cycle, float income for payroll services companies should not be as severely impacted.

Today, human capital services companies have conservative balance sheets and most are more mature, better managed, and well-positioned than they were in the last downturn. We believe the vast majority of the public companies we cover will be capable of successfully navigating a downturn.

So is there a buying opportunity here?

Yes. Most of these stocks have already pulled back materially, and we believe many of the human capital companies are under-valued relative to their intrinsic value. We believe that the risk-reward profile is favorable for a lot of companies, particularly for investors that take a longer view. It is probable that peak earnings during the next cycle will be materially higher than it was during this cycle. Historically, these companies have traded like growth cyclicals and have traded up before fundamentals hit bottom. So for investors with longer-term horizons, the risk reward for some of these stocks has become compelling.

So your outlook over the long run is positive?

Yes — for both cyclical and secular reasons. This cyclical downturn, if it materializes, is coming right before the period when the Baby Boom generation will enter their retirement years. Demographic projections suggest a significant increase in retirees starting in 2009 and continuing to increase through 2022 in the U.S. as well as Western Europe and Japan. This demographic trend is likely to drive greater churn and tightening in the labor market – this would lead to a very favorable demand backdrop for almost all staffing and recruiting related services as many client companies will require help recruiting replacements for their retiring workers. There is also a clear secular movement toward more global workforces – many of the human capital services companies that we cover are global and provide services that facilitate global expansion or the adoption of advanced HR and labor force practices in overseas markets.

In addition, payroll services companies are likely to benefit from rising wages and interest rates during a recovery – both factors would result in higher float income and an enhanced ability to pass along fee increases. Finally, there is a secular trend toward companies improving their HR departments – it is one of the last big areas that corporate America is starting to modernize to take advantage of technological advances.

About Mark Marcon and Baird’s Equity Research Team

Mark Marcon is Baird’s Senior Analyst covering the human capital services sector. Prior to joining Baird in 2005, Marcon was at Wachovia Securities for seven years, where he was a senior business services analyst specializing in the human capital solutions sector and also was director of Equity Research. He has been ranked in the top five for both stock picking and EPS accuracy by StarMine.com. He also was an analyst for four years at Cleary Gull Reiland & McDevitt covering the staffing, PEO and retail industries. Marcon received a BA degree in Economics from the University of Virginia and an MBA from the University of Michigan.

In addition to Marcon, Baird’s senior business services research staff includes David Koning (Business Process Outsourcing), Amy Junker (Education Services), Michael Schneider (Facility Services), and Mark Bacurin (Marketing and Information Services). For a full list of the more than 500 companies covered by Baird, click here.

Baird was recently recognized for the quality of its investment research. Integrity Research rated Baird No. 1 in small cap research, and a Bespoke Investment Group (B.I.G.) survey found that Baird analysts’ stock recommendations had the most impact on stock prices. In addition, Baird has been repeatedly well-represented on The Wall Street Journal’s “Best on the Street” analyst survey rankings over the years. In the survey released earlier this year, based on 2006 performances, Baird was ranked No. 10 overall out of 85 research houses in terms of the total number of awards received. Seven Baird analysts also received 12 awards from StarMine earlier this year, ranking the firm third overall. Such results were based on 2006 data. StarMine is the most recognized firm in the industry for tracking earnings accuracy and stock picking results.

About Baird

Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,200 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of $ 77 billion. Committed to being a great place to work, Baird is one of FORTUNE’s “100 Best Companies to Work For” in 2008 – its fifth consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s private equity operations. For more information, please visit Baird’s Web site at http://www.rwbaird.com.

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Running an organization means a lot of responsibility, and if responsibility is delegated across the organization then things definitely work better. Yet delegating responsibility can be a tough task since along with responsibility, authority also has to go hand in hand. The trouble is that the top level of an organization can take this decision of delegation of responsibility and authority only if the levels onto which this is passed are completely trustworthy. Now this point holds true even for any kind of responsibility that is delegated outside of the organization. A relationship of trust and dependability is the foundation in any such associations. So whether an organization is looking at outsourcing tax services, payroll services or bookkeeping services, they need to find a service provider who they can trust completely. If you are looking for payroll services california, you are sure to find quite a few, but the choice has to be made by you. And your choice for payroll services California or payroll services in other areas, would also effect the functioning of your organization, since you would be depending completely on the managed payroll services provider to take care of the payroll segment of the organization. So ideally, it would be a good idea for you to join h ands with KNR services to get well managed payroll services.

There are a number of reasons why KNR services would be the ideal organization to partner with for your managed payroll services. Read on to know why.

Accurate and Comprehensive Payroll Services

We at KNR ensure that we put our heart and soul in the work that we do. As a result you can rest assured that we would ensure that your payroll records are well maintained and are completely up to date. Further we take extra care while making calculations to ensure that our results are absolutely accurate and you can go by them without a second thought. We also provide comprehensive and well managed payroll services so that you are completely free from this aspect of running an organization. This largely works to your advantage as you can save a lot of time that would be wasted by employees in this field and can utilize their time and energy in doing something that is more valuable.

Experienced and well trained officials

At KNR, you would be interacting with experienced and well trained professionals who understand your needs. We ensure that our professionals are regularly updated with the developments relating to procedures pertaining to tax filing, book keeping, payroll services, payroll services california and so on. They use this information to ensure that your records are maintained in the correct manner and as a result help n avoiding any confusion or penalties. Further, they also have the experience of working with all kinds and sizes of organizations and as a result have a lot of expertise in managed payroll services.

Customized Solutions for Your Organization

Our experts, undoubtedly, have lot of experience in payroll services and as a result for them to offer well managed payroll services is a rather easy task. While this is definitely an advantage, yet they do not look at it that way. They make it a point to give equal importance to every organization by understanding the needs and the requirements and then customize the payroll services accordingly. You can rest assured that our officials will not simply follow a set formula for payroll services, but will instead provide managed payroll services that are created according to the needs of your organization.

Work As Partners

We at KNR services look at partnering with you to achieve your goals. We fully understand that for us to provide you the perfectly managed payroll services, we need to understand your organization and its functioning completely. We encourage client involvement from the very beginning so that in a way we become a part of the organization. As a result, we do not alienate the organization from our functioning but instead work as partners. We understand that every organization is unique and for us to work to the best of our ability, we need to look at the organization from your eyes so that we understand your goals, the environment that you work in, your employees, their expectations from the organization, the work culture, and so on.

On the other hand, if you are looking for managed payroll services in which you have no involvement at all, then our experts are trained to do so too. All that you need to do is simply fax or email the time sheets and we will do the rest!

So either ways, with KNR services, it is a win-win situation for any organization. So don’t waste precious time, partner with us as soon as you can!

Two Local Business Owners Join Forces to Fill a Small Business Need!

— February 26, 2003

West Covina, CA – February 24, 2003 – If you operate a small business you may find it convenient to use the services of a new local business. Many small businesses find it more convenient and economical to hire out specialty tasks to other local small businesses. For example, if you employ fewer than fifty employees, you may find a recently formed payroll service company, Paycenters, LLC, able to meet your needs and provide more personalized services than the big name national companies.

Paycenters, LLC is the creation of two local accounting companies owned by Barry Staggs and Mike Melendez who noticed that many small area businesses already used local accounting services, but had not subscribed to a payroll service. Staggs and Melendez observed that the reason the majority of these small businesses were not currently using a payroll service was the expense coupled with the concern of becoming just a number to one of the big data processing companies. In response, these accountants decided that a local payroll processing business could better suit the needs of such businesses. Mr. Staggs is a local CPA who has served area clients for over 15 years. Mr. Melendez has been a local business owner for 26 years. In forming Paycenters, LLC Staggs and Melendez believe their exceptional combination of experience and knowledge in accounting and payroll processing services will allow this company to be a premier payroll service provider for many small businesses in the San Gabriel Valley and adjacent areas.

According to Mr. Staggs, “The question I get the most is, why use a payroll service?” Mr. Staggs’ response was: “There are two main reasons. First, income and other payroll tax issues have become complicated enough that a small business owner needs to study several volumes of tax code to ensure he is collecting and reporting the various taxes correctly. Fines for incorrectly reporting your payroll tax liability can easy reach hundreds of dollars per fine. Secondly, processing a payroll is also a time consuming activity. Business owner’s are spending either their “free time” processing payroll, or, worse yet, their valuable work time which could be used more productively and profitably elsewhere within their business.” Mr. Melendez added, “Accessibility is a very important feature of Paycenters, LLC services. Your payroll questions are addressed by real people within our community who have a vested interest in the success of your business. It is our goal to provide personalized, accurate and timely answers.”

Mr. Staggs is a member of the Covina Chamber of Commerce, the Rotary Club, Business Network International, and the Executives Association of San Gabriel Valley. Mr. Melendez is also a member of the Covina Chamber, as well as other prominent civic and accounting organizations.

For additional information, you can reach Paycenters, LLC during normal business hours for an initial interview. Your first month of service is free.

For information: http://www.paycentersllc.com


Contact: alan@paycentersllc.com

Phone: 626.339.8118

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Innovene Selects ARINSO as Partner for its Global SAP Implementation and as Global Payroll Services Provider

Atlanta, GA — September 9, 2005

ARINSO International (EuroNext Brussels: ARIN), a leading provider of HR services, announced today a new contract with Innovene, one of the largest petrochemical companies in the world. Under this contract, ARINSO will partner with Innovene to deliver a global HR SAP platform and Payroll services for more than 8,000 employees across North America, Europe and Asia.

The solution will be based on ARINSO’s euHReka® platform and will be subject to national labour law provisions, in particular co-determination rules. Within the framework of the recently signed Arinso / SAP HR BPO partnership program, ARINSO has developed a pre-configured and standardized platform supporting all HR processes (including multi country payroll), enabling customers to benefit from high quality and cost-effective HR service delivery with an on-demand pricing approach. EuHReka® brings substantial competitive advantages in terms of reliability and quality of HR Service delivery, while lowering operating costs.

The Payroll contract with Innovene covers a period of 8 years. In addition Arinso will assist Innovene with the global implementation of Workforce Administration, Compensation and Benefits, Performance Management, Learning and Recruitment SAP modules. As of January 2006, ARINSO will start servicing the first Innovene countries and by January 2007 all countries will be supported through ARINSO’s ‘hub-&-spokes’ service infrastructure powered by ARINSO’s HR Workspace®.

The rapid global transition is made possible through ARINSO’s proven transformation capabilities, and the leveraged use of technology in the euHReka® platform, including country-specific best practices. Since ARINSO’s experience in global HR and Payroll solutions is built into the pre-configured euHReka® platform, with process-appropriate standardization, globalization and localization, the transition of payroll services to ARINSO’s global service centers can be accomplished quickly and smoothly. ARINSO’s global transformation team is experienced in the design and transition of HR and Payroll services in over 45 countries, and uses a robust methodology that takes into account all levels of transition, including organizational readiness for the outsourced service delivery model. Services will be provided from ARINSO’s HR Service Centers in Belgium (Brussels), US (Atlanta), and Malaysia (Kuala Lumpur).

Jos Sluys, CEO ARINSO International, “We are extremely pleased with Innovene selecting ARINSO as partner for its HR and Payroll services. Being part of the BP Group, the Innovene team already has unequalled experience in working with external HR providers. Together we are creating a highly competitive HR organisation at Innovene, based on a strong, proven global HR service delivery model enabled by euHReka®.”

Bob Cameron, Program Director Innovene, ”With ARINSO and its euHReka® platform, we have selected a partner who is leading on both a truly global service delivery approach and a unique HR platform. EuHReka® goes much beyond a preconfigured SAP solution and embeds global processes, an HR transformation roadmap, service delivery technology and an innovative service delivery model. Timing and budget would have been unachievable without ARINSO’s euHReka® and proven expertise.”

ARINSO International (Euronext Brussels: ARIN) is a global HR Services partner offering comprehensive HR business solutions to the world’s largest employers. ARINSO is dedicated to HR Excellence through Strategic Consultancy, Outsourcing Services & Technology Integration Services.

ARINSO was founded in 1994, and currently employs close to 2,000 staff in 23 countries: Belgium, Luxemburg, the Netherlands, France, Spain, Portugal, Italy, the United Kingdom, Germany, Austria, Sweden, Finland, Poland, Switzerland, the United States, Canada, Argentina, Brazil, Mexico, Singapore, Malaysia, Thailand & Morocco.

For more information on ARINSO International, visit http://www.arinso.com.

Innovene was created as a wholly owned subsidiary of BP on April 1, 2005. BP may sell part of its stake in Innovene by way of an IPO later in 2005, subject to necessary approvals and market conditions. Innovene has more than $ 15bn of revenues, 40 billion pounds of petrochemical production volumes and $ 12bn in total assets.

Innovene’s major manufacturing sites include Grangemouth in Scotland, Lavéra in France, Köln in Germany and Lima, Chocolate Bayou and Green Lake in the US.

Innovene manufactures petrochemicals, including olefins (ethylene and propylene) and their derivatives such as polyethylene, polypropylene, acrylonitrile, linear alpha olefins, polyalphaolefins, and solvents. These chemicals are used to make a wide variety of plastic goods, including food and drink containers and wrappings, pipe work, automotive parts and mouldings. Innovene also manufactures gasoline, diesel and other refined products in the Grangemouth and Lavéra refineries.

The company’s global headquarters are located in Chicago.

For more information on Innovene, visit http://www.innovene.com.

Contacts:

ARINSO International – US

Kasey Crete

VP Market Strategy & Business Development

Tel: 678-259-0492

kasey.crete@arinso.com

ARINSO International

Luc Osselaer

VP Communications & Investor Relations

Tel. +32 2 558 06 70        

Luc.osselaer@arinso.com

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

# # #

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

SurePayroll Survey Offers New Insights on Small Business Ownership

Chicago, IL — August 21, 2006

What it is it that drives many of us to jettison ourselves out of the world of life as an employee and step into the unchartered lands of entrepreneurial adventure, starting over as small business owners?

Over 99% of America’s businesses are small businesses. Pick a random person on the street and there’s a greater than 50 percent chance that they work at a small business. Indeed, nearly ten million small businesses – firms with less than 100 employees — operate in the United States. That means there are approximately ten million small business owners in the country.

What drives these owners to work for themselves instead of working for somebody else?

According to a survey by SurePayroll, the nation’s largest online payroll service provider for small businesses, most entrepreneurs start businesses because they do not like others determining their income levels and their schedules. It’s not about having passion for something. It’s not about having a great idea. Instead, it’s all about taking control.

“This survey reveals that people who start businesses are doing so primarily to gain control of their own destiny,” says Michael Alter, president of SurePayroll. “More than anything else, they want to be responsible for how much money they make and how many hours they work — even if it means working more hours and making less money.”

The survey, conducted in July, asked small business owners to record their thoughts on a variety of issues concerning their business. The survey results indicate that while there are many challenges to owning a small business, the vast majority of small business owners would follow the same path again if given the chance and would also encourage their children to become entrepreneurs.

Small Business Owners Reveal Reasoning Behind Business Startup

When asked about the top reasons for starting their company, small business owners ranked their responses in the following order:

    I wanted control of my earning potential. (28.9%)

    I wanted control of my time. (22.3%)

    I followed my passion. (16.3%)

    I hated working for someone else. (12.3%)

    I wanted to grow something from the ground up. (7.7%)

    I did not intend to go into business for myself — I fell into it. (6.2%)

    I was laid off or afraid of being laid off. (3.5%)

    I inherited it –it’s a family business. (1.4%)

    I was ready to retire but still wanted to keep my hand in business. (1.0%)

    I had an idea that didn’t exist. (0.5%)

Owning a Small Business Tough but Beneficial to Lifestyle

Owning a small business isn’t easy. 63 percent of respondents reported working more hours for themselves than under previous employers. 14 percent said they worked fewer hours as an entrepreneur as they had previously. The remaining respondents, 23 percent, indicated that they work about the same number of hours.

The amount of effort required to be an entrepreneur takes many small business owners by surprise. Indeed, 50 percent of the respondents indicated that owning a business is harder than they imagined it would be. Of the other respondents, 43 percent found life as a business owner easier than they had anticipated, and only 7 percent said they had accurately anticipated what it would be like to be a small business owner.

Life as an entrepreneur does come with one nice perk: flexibility. An overwhelming 79 percent of small business owners feel they have more flexibility in their current life as an entrepreneur. 14 percent indicated they had less flexibility, while the remaining 7 percent said they had the same amount of flexibility.

Despite Ownership Challenges, Small Business Owners Satisfied

The biggest challenge for small business owners is finding good people. When asked about the top obstacle pertaining to small business ownership, respondents ranked their responses in the following order:

    Finding and keeping qualified employees. (19.3%)

    Balancing business development efforts and current work-load. (18.3%)

    Managing my work time and priorities. (14.6%)

    Managing employees. (11.9%)

    Generating expected revenues. (11.9%)

    Creating a work/life balance. (10.8%)

    Meeting my income goals. (7.3%)

    Acquiring capital to grow. (5.7%)

Despite the combination of challenges, 94 percent of entrepreneurs are content with their decision to start their own business, and the exact same percentage of respondents indicated that they would encourage their children to follow in their footsteps.

Many of the comments received during the survey process suggest that the overall experience of owning a small business has been extremely positive.

One small business owner said it best by noting that “Owning my own small business has been the most challenging and the most rewarding thing I’ve ever done in my business life.” Another small business owner commented “You control your own destiny – there’s no one else to blame!”

About SurePayroll’s Commentary

Every month, SurePayroll publishes its small business economic indicators via the SurePayroll Small Business Scorecard. Based on employee and contractor paychecks for over 17,000 small businesses, SurePayroll’s indices give insights on small business hiring, salary levels and reliance on contractors.

SurePayroll regularly augments its data indices with surveys on a variety of topics of interest to small business owners. The July survey was conducted between July 3 and July 12 via email survey with a 90 percent confidence interval and a 5 percent error margin.

About SurePayroll:

Privately held SurePayroll is America’s fifth largest full-service payroll provider and the nation’s largest online full-service payroll provider. Catering exclusively to the needs of small businesses, SurePayroll provides a simple, reliable and economical way to process payroll in minutes via the Internet.

In addition to providing payroll services directly to small business, SurePayroll also provides a private-label payroll service that allows SurePayroll’s numerous partners to offer payroll processing to their small business clients.

Business partners include ABN AMRO, Pitney Bowes, and MasterCard. SurePayroll will process nearly $ 3 billion in employee and contractor payroll payments in 2006. For more information, visit http://www.surepayroll.com.

For Media Inquiries Contact:

Ken Gaebler

Walker Sands Communications

http://www.walkersands.com


Phone: (312) 543-0654

###

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

More Payroll Service Providers Press Releases

Minimum Wage Increase: Much Ado About Nothing for Most Small Business Owners According to SurePayroll Survey

Chicago, IL — February 21, 2007

Small business owners are not losing much sleep about an increase in the national minimum wage, according to a recent survey by national payroll service provider SurePayroll.

According to the SurePayroll survey, the majority of small businesses (51 percent) don’t even know what the minimum wage is in their state.

Of the small business owners surveyed by SurePayroll, only 3 percent pay the national minimum wage to some of their employees. Only 6 percent of the respondents pay a state-mandated minimum wage to some of their employees. The remaining respondents (91 percent) are not affected by minimum wage laws because they pay all of their employees more than the minimum wage.

The survey confirms what SurePayroll has been hearing anecdotally from many of its 18,000 small business customers who use SurePayroll’s payroll outsourcing service.

“Most small businesses are paying more than the national minimum-wage, so an increase in the minimum wage has little to no effect on those small businesses,” SurePayroll President Michael Alter said. “In my conversations with small-business owners, even if they are subject to minimum wage laws, they are not too worried about the increase. In fact, the majority of small businesses support an increase.”

Although most small businesses are not affected by the minimum wage, SurePayroll’s survey confirms that the large majority (70 percent) support increasing the national minimum wage. However, opinions vary as to how large the increase should be:

Poll question:

Congress is currently considering raising the minimum wage to $ 7.25. What is your opinion on this issue?

(309 respondents)

I don’t think there should be any increase – 25.6%

I support an increase but think $ 7.25 is too high – 21%

I think there should be an increase to $ 7.25 – 37.9%

I think the increase should be higher than $ 7.25 – 11%

Don’t know or don’t care – 4.5%

In terms of impact on small businesses, most small businesses (79.5 percent) say an increase in the minimum wage will have no impact on their businesses. 15.6 percent say the increase will have a negative impact, while 4.9 percent say the increase will have a positive impact.

Interestingly, while many businesses indicate that their businesses will not be affected by the minimum wage increase, they expect the overall effect on the small business economy will be negative. In fact, nearly 59 percent of respondents indicate that the rise in the minimum wage will have an inflationary effect on the economy and nearly 10 percent believe that many business owners will close down as a result of the increase:

Poll question:

Generally speaking, what effect do you think a minimum wage increase to $ 7.25 will have on the small business economy?

(308 respondents)

Very little effect – 23.3%

Business owners will survive but will raise their prices – 58.6%

Many business owners will close down, destroying jobs in the process – 9.7%

Other – 8.4%

Despite their misgivings about the minimum wage increase, many respondents (35 percent) believe that increasing the minimum wage could help reduce poverty. The majority (65 percent), however, do not believe that increasing the minimum wage will help reduce poverty.

On a final note, many small business owners don’t seem to like the idea that they will have to pay a higher minimum wage without receiving any offsetting breaks. In fact, nearly 69 percent of respondents say that small businesses receive some breaks to offset the minimum wage increase, whereas over 31 percent say no offsetting breaks should be given.

Survey respondents were given an opportunity to voice their opinion on the minimum wage issue. A sampling of comments is provided below.

Comments from Respondents Who Are For the Increase

“Small business owners need to be profitable. However, the nation’s poor need to be able to feed their families also. I really don’t believe small businesses will be greatly affected by the increase in the minimum wage.”

“When you raise the bottom tier workers’ wages, they spend more and their comfort level goes up which makes for a happier person, which means they’re more productive.”

Very few people earning minimum wage are at the poverty level currently so raising the minimum will have little effect on the poverty level.”

Comments from Respondents Who Are Against the Increase

“New Jersey’s minimum wage is at $ 7.15 now, and I have yet to see any real good come out of it. Good employees are worth more than minimum wage anyway. No one was supposed to live on minimum wage — that’s supposed to be the starting wages for teenagers. The negatives are not just wages — the taxes employers pay will all go up, as everyone’s wages have to go up, not just the starting wages.”

“I believe that supply and demand should dictate what a person makes. It is the ability of every American to improve their own marketability which in turn will increase their worth which will translate into a higher pay scale. This is not an area that government should get involved in. The opportunity or lack thereof is dictated by each individual.”

“I’ve always believed that for every employee you put to work, you should receive a credit, similar to the child tax credit — basically being rewarded for adding employees, not hit with higher taxes, i.e. workers’ comp and other taxes. Where’s the incentive to add new employees? Small businesses should be rewarded by the government, not penalized.”

SurePayroll’s survey was conducted during the week of January 8, 2007. Total respondents numbered 311, providing statistically significant results at the 95% confidence level and a margin of error of +/- 5%. Respondents were selected randomly from across the nation from a sample set of over 18,000 small businesses. Complete survey results are available to interested members of the media.

About SurePayroll

Privately held SurePayroll is America’s fifth largest full-service payroll provider and the nation’s largest online full-service payroll provider. SurePayroll is passionate about small businesses and their payroll. They are dedicated to providing an extremely friendly and simple payroll experience — at a price small business owners can afford.

In addition to providing payroll services directly to small business, SurePayroll also provides a private-label payroll service that allows SurePayroll’s numerous partners to offer payroll processing to their small business clients. Business partners include ABN AMRO, Pitney Bowes, and MasterCard. SurePayroll processed nearly $ 3 billion in employee and contractor payroll payments in 2006. For more information, visit http://www.surepayroll.com.

# # #

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Having your company’s payroll outsourced to a reputable payroll service company could solve a lot of your company’s administrative problems and help you in improving your company’s bottom-line as well. This is because they, the organizations outsourcing payroll service, allow themselves to focus on more important aspects of their business, such as the improvement of their products or services and how to best market these products and services. In fact, the benefits of outsourcing payroll service far outweighs the outsource payroll cost.

Having your business processes and payroll outsourced is actually about caring for your clients. Outsourcing payroll service and other business processes help in reducing your company’s operational and tax costs so that your company can provide better and more affordable products and services to your clients.

There are many benefits to outsourcing payroll service; these include less risk of making payroll mistakes, cost reduction, less legal adherence, efficient use of resources and a more focused management. Flexibility is another benefit you get when having your payroll outsourced. When outsourcing payroll service, you can ask the payroll service provider to design the payroll according to your specific needs.

The cost of doing your payroll in-house is actually more expensive than outsource payroll cost. Since your payroll service provider already specializes in this type of service, they would, naturally, have the expertise and vast technical resources at their disposal and can process even the most complex payrolls quickly, yet accurately. As experts in outsourcing payroll service, they will make fewer mistakes than your in-house payroll staff.

Also, if your company chooses to do its payroll in-house over having its payroll outsourced, it bears the cost of printing payroll checks, bank account maintenance fees, record maintenance, payroll software, and payroll personnel; not to mention the cost of the time it takes to manage the payroll process. With all these in mind, it would be safe to say that your outsource payroll cost is actually justifiable.

Have your payroll outsourced and you can manage your core activities, like product improvement, sales and strategic decision making, better. You can even take on new challenges and opportunities to expand your business. And, don’t worry about the outsource payroll cost, because outsourcing payroll service practically pays for itself.