Small business payroll software facilitates hiring processes
March 01, 2013
Small businesses are a large driver of the American economy, and the recent increasing optimism among owners is giving the country something to smile about. More developing companies are planning to hire new employees in 2013, as well as invest in their operations by adopting technology solutions and searching for expansion opportunities. This means that economic conditions are improving, as entrepreneurs are regaining their confidence following the recession. To help make the hiring process more streamlined, small businesses can implement payroll software to keep track of all worker information and wages. In addition, these systems maintain compliance with all U.S. payroll legislation, giving companies the assurance that all data is accurate and they are not violating any regulations.
Entrepreneurs have cautious optimism
According to the recently released National Small Business Economic Survey from Union Bank, although small business owners are steadily becoming more confident in the nation's economy as well as their own financial conditions, some cautiousness remains. This is mainly due to the ongoing recovery and concerns related to federal budget cuts and how these will impact entrepreneurs throughout the country. On the other hand, owners are optimistic overall about the coming year and how their companies will perform.
The study found that while many entrepreneurs agree conditions for small businesses were bad during the past two years, many believe that the national economy, as well as those of their respective states, are improving. Perhaps an even larger indicator of increased optimism was the fact that 84 percent of respondents are confident in their own companies and believe their operations will get better this year.
"Entrepreneurs have become experts at gauging the business climate and adapting their course accordingly, so it makes sense that while confident in the direction of their businesses, they are also taking cues from the economy, balancing their increased optimism with caution," said Union Bank's executive vice president and head of business banking Todd Hollander.
Hiring has steadily been picking up among small businesses over the past few months, and the latest figures from the National Federation of Independent Business showed that there was a 0.09 percent average employment increase per firm during January. This follows December's figure of 0.03 percent.
As entrepreneurs continue to bring on additional employees in the coming months, they can use payroll technology to keep track of all vital information for workers' wages.