This November, INVO PEO is proud to celebrate National Entrepreneurship Month, a time to spotlight the thousands of professionals across the country who have taken their business ideas and set out to actualize them, no matter the risk.
Small businesses are an essential driving force of our economy, constituting 46% of private sector employment. What’s more, in 2022, nearly 75% of American small business owners reported a happiness level of “somewhat happy” or “very happy.” It goes to show how entrepreneurship is an empowering force, both personally and economically.
With upsides like that, it’s easy to wonder why everyone doesn’t go to work for themselves. Of course, it takes a certain personality type to harness the creativity and commitment needed to start a business, and many people are happiest doing great work for already-established organizations. All too often, though, would-be entrepreneurs find that the legal and financial headaches associated with starting a new business outweigh their desire to strike out on their own.
That hesitancy is understandable: For small- and medium-sized businesses, mistakes associated with compliance, payroll, and taxes can be an existential threat. Luckily, professional employer organizations like INVO PEO offer improved risk management, employer-related compliance guidance, safety support, and other services that take risks off the business owner’s shoulders and give you peace of mind. Plus, with a PEO, you can outsource non-revenue-producing tasks like payroll processing, worker’s compensation management, and benefits administration so you can focus on the work that inspired you to start up in the first place. Other services we offer include:
- Preparing, filing, and depositing payroll taxes
- Employee handbooks
- Time and attendance tracking
- Sharing human resources insights, best practices, and advice with your internal staff
These are only some of the ways a PEO can help entrepreneurs streamline and scale their businesses. So don’t let the administrative tasks associated with starting a business prevent you from achieving your dreams. If you have a great business idea but worry about getting bogged down with paperwork, contact INVO PEO to learn more about our solutions from one of our team’s business experts.
