If the government offers financial inducements for growing businesses - such as tax advantages, funded apprenticeship schemes, free or subsidised training and support, and even grant aid, this could prove a turning point for many. Enormous numbers of workers have lost their employment during the recession, with more job losses likely. Although self-employment does not suit everyone, for many this could be an opportunity to realise life-long dreams and start their own businesses. Existing small businesses, having struggled through the downturn, could similarly recognise a chance now to move forward, diversify, or expand.
Entrepreneurs are good at what they do, but not necessarily good at administration. Moreover, they want to concentrate on selling their products. Yet invoices, and tax, need paying. The moment a business expands beyond the sole trader, staff wages, tax and National Insurance must be paid, allowing for pension contributions, sick pay, holiday pay, and so on. Modern payroll processing services are complex, and perhaps beyond the skills of small entrepreneurs. A simple solution is to bring in a payroll company such as ourselves at Dataplan Payroll. Even for small businesses our payroll outsourcing services can be more cost effective than hiring specialist wages staff. We can ensure all payroll matters are processed efficiently, freeing up the entrepreneur to grow his business successfully.