Gradual, sustainable levels of growth can be an important indicator of health for any small business venture. But when small businesses begin to experience steady growth, their owners can feel pressured to add permanent staff positions to help with the increased workload. Unfortunately, new growth can be unpredictable, making it difficult for business owners to continue paying salaried staff members. 

Business owners who need to offload necessary tasks for their company, such as payroll and basic accounting duties, often struggle with the expected cost of filling this opening with a full-time staff member. The following information will help many small business owners better understand how hiring a payroll service provider could be a much more affordable option for their needs. 

Menu of affordable, customizable services

Reputable payroll service providers typically offer a full menu of services geared to fit many types and sizes of small business ventures. The cost and scope of each service provided by the payroll service provider is fully disclosed, making it possible for business owners to utilize only the services they need. Business owners can choose to add or subtract services as their business needs change. 

Small business owners who choose to utilize a reputable payroll service provider to assist with accounting, payroll, and other related tasks can avoid major expenses commonly related to hiring a full-time employee, such as annual salary, costly health insurance premiums, and pension plans. 

Knowledge of industry requirements and changes 

Another important reason to consider using a payroll service provider, instead of hiring a full-time staff member, is the ability to take advantage of their knowledge of industry requirements and changes. Since most payroll service providers are qualified to assist business owners with a variety of tax-related needs, including filing and submitting payroll and business income taxes, they work diligently to stay abreast of changes in state, local, and federal tax laws. Additionally, payroll service providers can also be a good source of information to help new and growing businesses develop better practices for recordkeeping and document management. 

Payroll services are especially valuable for small business owners who struggle with time management issues. In addition to avoiding potential penalties or legal issues related to missed tax filing deadlines, the use of a reputable payroll tax service can help business owners devote more time to other management tasks. 

To learn more, take time to discuss your situation and company goals with a payroll service provider in your area.