Small Businesses Using a PEO Are Growing
While the overall environment for small businesses remains challenging, a new study commissioned by the National Association of Professional Employer Organizations (NAPEO) shows that small businesses using a PEO are growing. The increasingly burdensome tasks of meeting tax and regulatory compliance may be a factor hindering small business growth. But, this study shows that businesses who outsource those non-revenue producing compliance tasks to a PEO have reduced both their costs and risks. Those businesses are growing.
Hightlights from the September 2013 NAPEO Study
Key stats in the study show that PEO clients:
- Have grown 9 percent faster than small businesses in general since 2010
- Save at least 21% on HR administration costs
- With 10 to 50 employees are over twice as likely to have workers in a retirement plan
- With less than 10 employees are over three times as likely to have workers in a retirement plan
