If you’re a small business owner, do you plan on taking a vacation this year? If not, you’re not alone. Per a 2014 survey conducted by Ondeck Capital, 43% of business owners didn’t plan on taking a vacation that year. It’s not surprising when you consider that many entrepreneurs feel they can’t get away – otherwise, their small business might fall apart. Even among those who planned to take a vacation, 67% said they were going to check in with work at least once a day.
Want to know how to use up business-building time in your small business? Here’s a hint: The National Small Business Association estimates that more than 50% of American businesses spend AT LEAST 4 hours PER MONTH in payroll processing. That equals 48 hours PER YEAR – that means you lose one full week of productivity every year doing payroll. What’s that costing you??? (more…)
We’ve Reached the Last 2 Myths of 10 Total
If you’re a small business owner and you have employees, you must do payroll. It’s a given. You can’t get out of it. Your employees expect to be paid for their work. However, that doesn’t mean YOU have to do your own payroll. You can outsource your payroll to a payroll service provider like The Payroll Department. But many small business owners won’t subcontract their payroll, because they believe all these myths about outsourcing payroll that they hear from other people. (more…)
There is little doubt that small business owners have to constantly adapt to the changes in the business arena. One area that is making an impact is the upsurge of freelancers and contract workers. A study by intuit reported that by 2020, more than 40% of the American workforce, or 60 million people, will be freelancers, contractors and temp workers. That can make a change in the workforce mix of your business, can’t it?