The news at the end of 2011, confirming a very marginal increase in the costs involved in running small businesses, was well received by many owners of small companies and their HR payroll personnel. Whilst the third quarter of the year, from July – September 2011, saw a 0.05% small business inflationary increase, the final quarter, from October – September 2011, witnessed it rising by only 0.031%.
Throughout 2011, inflation as a whole rose for small businesses by 5.5%, which was significantly lower than the 8.7% measured by the producer price index. However, positive reading though these statistics might make, numerous small business owners feel far from out of the woods and continue to seek cost effective ways in which to improve their efficiency despite an inflationary respite on paper.
Outsourced payroll companies fulfill this remit for hundreds of small businesses that operate across a diverse range of sectors. It can be an ongoing battle for small business owners to get on with the tasks at hand, during challenging and favourable economic climates alike, whilst shouldering the burden of payroll and the administration that accompanies it.
Furthermore, continually evolving legislation and the need to evolve with it and adhere to it can cause serious mistakes to be unintentionally made by small businesses lacking in-house HR payroll expertise.
Tailor made payroll solutions can prove highly effective for small businesses hoping to address the matter of efficiency whilst rates of inflation are on their side. The small business packages provided by some of the most experienced and reputable payroll companies have the same best interests at heart.
At Moorepay, we have the people and the processes in place to offer small businesses greater accuracy, exemplary service levels and continuous support with their payroll administration and provision. Our clients find our payroll solutions affordable, efficient and time saving, allowing them to concentrate on output as inflation rates continue to fluctuate.
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