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Three important challenges small businesses face and how to fix them

  • Written by News Company


Running a business can be hard, and sometimes, it can be harder than you think when first entering into this otherwise unknown world.

Because of this, many small businesses in Australia are afraid to take risks, and who can blame them.

But, to make sure you’re fully aware of what to expect when starting a small business, we’ve highlighted the three important challenges you’ll come up against at the start, and how to tackle them, below.

Finances

One of the biggest challenges you’ll face is your finances, or, to be more specific, knowing about them.

You’ll need valuable, reliable information when it comes to this area for not only yourself but investors and the remainder of the organisation. Companies such as RSM have a wealth of experience in this area and can offer auditing and assurance services to companies in all sectors, to ensure you have all the financial knowledge you need when it comes to the company.

Finding customers

Obviously, to run a successful business, you need customers, and with more customers, comes more financial success. It can be difficult to drum up new business when you’re a new business because no one knows your name.

However, the way to combat this is to identify exactly who your customer is from the start. This way, you can spread the word about your business to the exact people you intended to hit, rather than casting your net far and wide in the hope of finding a few. Once you’ve identified the person, and persona, your messaging will be much easier to communicate, and reaching people should be easier.

Brand awareness

Once you start, the next thing is building your brand and its identity. Companies that are household names today have been working for decades to build their name, which would have included a few failures along the way.

However, to fix this, there are a few things you should do, which are:

  • Invest in a PR agency. These people have contacts and the know-how to get your brand known

  • Co-marketing with another brand so you can access their customer base

  • Social media marketing. It’s cheap and reaching your audience can be done quickly and easily

  • Be online. Making sure you’re on all social platforms and even blogs are highly important in the digital age

Having these in your strategy should help to build your brand name, reach those customers you’re looking to target and in turn, help to return a profit.

While there will be other hurdles along the way, these are the three initial issues you’ll definitely come up against. But, as you can see, each one feeds into the other, which means, if you tackle the one, you’ll also be tackling the other at the same time. Once you’ve got all of the above right, that’s when you can move on to the next set of hurdles, which will rear their head quicker than you’re ready for.

Here Are the Top Payroll Services For Small Business

  • Written by News Company


Ah, payday. Employees are lining up to grab their checks and preparing for some serious weekend spending. Meanwhile, you're too busy with all the ins and outs of payroll management to join in on the fun.

Small business owners spend a lot of time on getting payroll right. But you aren't an accountant. Wouldn't you rather get back to running your business?

For this very reason, small business owners across the world are turning to payroll management software.

Want to reclaim your schedule? Here are our top pick payroll services for small business owners.


Top Pick Payroll Services for Small Business Owners

Every business is different. Luckily, payroll services companies have responded to these differences with an offering to suit nearly every need. And with only 14% of businesses using cloud-based payroll services, this move can definitely help you beat the competition.

Here, we present the solutions to all your payroll problems. If you do encounter problems use a high risk credit card processing company.

For the Business that Needs it Cheap

SumoPayroll and Wave both offer free plans. Wave is free no matter how many employees you have, but functions like Credit Card processing are pay-as-you-go. SumoPayroll allows up to 10 employees to use its free platform and only increases to $19 per month for up to 25 employees.

Paybooks doesn't offer a free plan. But at $11 per month plus $0.73 per employee per month, the highly functional payroll service software might just be better than its free counterparts.

For the Business that Plans to Scale

Zenefits has open API capabilities. It seamlessly integrates with third-party platforms like OnPay, Gusto, Intuit, and Paychex.

Another highly integrative payroll service is offered through the ever-popular QuickBooks Pro. QuickBooks Pro offers arguably the best payroll services for small businesses. That's because it's fully automatable and integrates with hundreds (if not thousands) of accounting-related apps. Find out more - free payroll software australia.

For the Business that Requires Lots of Support

If you're searching for best-in-class IT support, Intuit QuickBooks Payroll is a no-brainer. Intuit offers high-quality and dependable support from live experts. Customers receive step-by-step set up initially and online chat with payroll specialists for the remainder of your contract.

Businesses that already have an in-house IT team may be more interested in accounting-specific support. SPS Payroll Services not only has excellent software but also offers customers access to their team of expert accountants.

For the Business that Values UX

Gusto is an excellent choice for its good UI and automation capabilities. Similarly, Kevit Payroll offers a dashboard with a full view of all payroll management operations. There are even trend analytics that can show how customers are performing.

Kevit's short learning curve is ideal for employee-centric business. But another top contender for best employee experience is Keka HR. This program simplifies workflow through its highly intuitive functions and customers have said Keka HR helped reduce time, effort, and expertise needed for payroll operations.

For the Business that Wants to Customize

Namely is one of the best in the business for its highly customizable user experience. Customers get total control over the appearance and performance of the platform with drag and drop functions. There are also backend shortcuts that can help make payroll more efficient.

New payroll services for small business owners are popping up every day. To stay in the know, make sure to subscribe to Daily Bulletin's Business News center.

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