Bringing the Visions of Tomorrow Come to Life | Denny Wilson

This is what it’s been like for you for weeks, months, and maybe even years now. There’s never enough time in your day for these administrative tasks, and all they do is take you away from the focus of what really matters: growing your business.

You are not alone. About 45% of small business owners spend at least one day a week or more handling HR tasks.

There’s a solution that makes managing your payroll easier, though. A Professional Employer Organization (PEO) can help you take care of important payroll responsibilities and make your life easier. Here are a few things a PEO can do to help make your life easier:

• Handling of All tax obligations: A PEO performs all of the employment tax withholding, reporting, and payment duties on behalf of your business. A PEO helps you eliminate the risk of compliance issues and helps you stay up to date on federal, state, and local tax changes.
• Give your employees the best service: A PEO gives you cost-effective, professionally processed payroll administration. A PEO can help you keep up with hourly totals and pay rates, help manage payments, and help address any questions from employees regarding their pay. A PEO protects an employer’s business while offering your employees the best payroll service possible.
• Process payroll on your schedule: With a PEO, your employees will be paid accurately and on time. You or your staff will save valuable time leaving the administration and worry about your dedicated PEO payroll service team.

We understand that small business owners don’t have the time to handle all aspects of payroll, and that’s why a PEO can help you. A PEO can help you grow your business and make it so you never have to worry about the burden of payroll again. CertiPay wants to partner with you to help handle your administrative services.”

CertiPay Writes about Recession

Experts are predicting that the next financial recession could be coming soon reads CertiPay’s article. This global economic slowdown can be credited largely to the COVID-19 pandemic, and it was only magnified by the Russian invasion of Ukraine. We’ve reached record-high levels of inflation, and we’ve seen the U.S. Economy shrink for the first time since the first quarter of 2020.

The chances of a recession have been top of mind for bankers, economists, and small business owners. For countries around the world, the recession will likely be hard to avoid—it’s just a matter of time and how to prepare for it.

From many in the financial markets, it appears a recession is imminent with threats of the return of “stagflation,” which happened last in the1970s and occurs when economic growth goes through a significant slowdown while inflation and the cost of goods still remain high.

For small to mid-sized businesses, it’s not the time to panic—not all economists know when a recession will happen—but it is time for your business to prepare.

Here are some steps your business should take to prepare for a recession:

• Prepare to make hires: Hiring can actually get easier during an economic slowdown because people will need additional work. This could be a time to look to fill vacant spots on staff with part-time employees or freelancers. You don’t want to lose the quality of your business’s service during a recession, so this is a way to make sure you can still provide the best service to your customers.
• Reduce expenses that aren’t essential: Revenues fall for businesses during a recession and this means you will have to take necessary steps to cut costs. This could mean reducing operational costs. Business owners need to be prudent in how they cut costs. They should be able to identify what can potentially cut into profits and recognize the difference between what’s essential to spend money on and what’s discretionary.
• Maintain relationships with customers & maintain relationships with your employees
• Don’t look immediately at layoffs: Hiring and training are very expensive and laying off employees can hurt the morale of those who remain. Look to cut labor costs in other ways like hour reductions or furloughs.
• Continue to market your business: Understand your customer needs and don’t completely slash your marketing budget. Instead, adjust your strategies because you need to do whatever you can to stay top of mind for your customers.
• As the threat of recession looms, you can still prepare your business to endure it. Running a small business is challenging—period— but a recession doesn’t mean your business’s end. You can be flexible and adapt to changes, but you need to make sure you are prepared to face them head-on.