Saving Your Small Business: How a PEO Can Help
Smaller companies affected by the present economic climate face more challenges than
their larger counterparts. Studies have found that small business suffer more in a bad
economy and show lower overall sales than the bigger and more widely recognized
companies who rely on their brand name to get them through the tough times.
The fact that lenders have also tightened their purse strings where small businesses are
concerned does nothing to help matters. So if it’s sink or swim, how does a small
business stay afloat?
The answer to this question is to apply some sound business strategies that
entrepreneurs have used during eras of great prosperity as well as throughout the
Sound Business Strategies for Small Businesses:
• Market like a pro. By taking advantage of mainstream media, which today
includes popular communication platforms such as the Internet, mobile
marketing and social media, small business can compete with larger brands.
• Manage your time and money effectively. By hiring a Professional Employer
Organization small businesses are able to cut cost as well as free up their
time to focus on the productivity and expansion of their core business.
• Keep a staff of well qualified employees. By utilizing a PEO to recruit and
manage a sufficiently skilled work force small business can compete in
today’s highly technical and quickly evolving marketplace.
• Streamline. By reducing waste, multi-tasking and raising efficiency small
businesses can step up productivity while slashing their overhead down to a
fraction of previous operating costs.
• Forecast. By researching trends and focusing on what the marketplace will
be responding to in the near future companies can get in on the ground floor
and stake their claim to innovative new products and services.
• Deliver. By producing and delivering the best products and services possible
a small business will build their brand as well as develop something there is
still no substitute for; a reputation for excellence.
Turning things around for small businesses and making them more competitive in a
difficult marketplace is what outsourcing HR services is all about. Hiring a PEO will
provide a small business with the ability to implement the sound strategies that have
been the cornerstones of success for many savvy entrepreneurs during both good and
bad economic times.
PEO Services Include:
• Benefits Outsourcing
• Employee benefits
• Employee/Labor Relations
• Employee Leasing
• Government Compliance
• HR Audits
• HR Consulting
• HR Management
• HR Outsourcing
• Payroll Services
• Recruitment Services
• Safety and Worker’s Compensation
Saving a small business that is in trouble is not an easy endeavor. However, with the
help of a team of experienced professionals most small businesses can find success even
in an ailing economy.