The costs of running an SMB. From payroll to outsourcing, it’s all in here.

Talking about finance and how it impacts your SMB.  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ you are having trouble reading this email, [read the online version](. [trinet logo]( [weekly roundup] [drawn hand holding a coin] The Costs of Doing Business: SMB Edition When you’re running a small to medium-size business, finances are always top of mind. Whether it’s the economy, your bottom line, figuring out compensation or deciding to outsource some of your tasks, every dollar has to be accounted for—and every penny counts. This week, we’re covering an array of financial topics with your business’s financial health in mind. 9 Benefits of Outsourcing HR to a PEO How much time are you spending on HR tasks each week? How much of that time could be better spent focusing on running—and growing—your business? This webinar reveals nine key ways outsourcing your HR could potentially help your business grow. [Watch Now →]( “Overall, we find that firms that utilize a PEO have 40% better revenue growth than organizations that do not employ a PEO” Kaitlyn Campbell Senior Customer Relationship Managers TriNet HR Outsourcing Costs: The Complete Guide Small and medium-sized businesses often have difficulty handling all their human resources needs in-house. They may lack the expertise to keep up with ever-changing employment-related requirements. This puts them at risk of potential costly fines or claims. They may not want to spend the money or invest the time to run and maintain in-house HR software. They don’t want to burden their employees with routine and repetitive HR tasks when they could be contributing to growth initiatives instead. For many of these businesses, HR outsourcing provides a welcome solution. The personnel at HR outsourcing companies are generally experts in their fields. Outsourcing companies also generally provide access to modern HR cloud technology and take care of maintaining and updating it. Determining HR outsourcing costs is a key step in deciding whether outsourcing is the right option for your company. HR outsourcing costs are estimated to cost $45 to 1,500 a month based on the number of employees and services engaged. Many factors contribute to outsourcing costs. [Read the Article →]( [77%] of small business leaders have confidence in the economy. Report, 2023 Macroeconomic Trends Startup Costs: Your Guide to Getting a Business Off the Ground Typical startup costs There are numerous types of startup expenses, depending on the type of business you’re planning. Here’s a list from the Small Business Administration  of the most common costs to consider when starting a business. Office space The cost of renting or leasing a workspace is a significant startup expense. For some businesses, finding the right location is critical to their success while others simply need a workspace that is the right size. Utilities Bills for electricity, water, gas, and other essential services are examples of post-opening costs and should be relatively fixed. Security deposits for these services, however, are pre-opening costs. Equipment and supplies The type of business will determine how much you need to spend for essential machinery, computers, and office supplies. Communications Phone systems, internet connections, and communication tools are critical for staying connected with customers and partners. If your business relies on a well-rounded customer service team, for example, it might be worth the cost to make sure customers can reach you via multiple forms of communication. Licenses and permits  Fees associated with obtaining the necessary legal permissions to operate your business can vary depending on your location and industry, but they’re a must-have to operate legally. [Read the Rest of the List →]( LISTEN: SMB Matters by TriNet Hidden Money: Demystifying the R&D Tax Credit Monika Diehl has news you may be able to use: Your business could qualify for R&D tax credits. Find out everything you need to know about this valuable but often overlooked source of credit. [Listen on Apple Podcasts]( [Listen on Spotify]( “The research and development tax credit is a program that’s intended to reward businesses for innovation. Unfortunately, many businesses that qualify for the credit don’t know it exists, so they don’t realize that it actually applies to them and the work that their company is doing.” Monika Diehl Divisional VP Tax BONUS GUIDE Compensation Plans, Packages, Recent Compensation Trends This informative guide contains everything you need to know about creating potent compensation plans, including recent compensation trends to enhance the attractiveness of a position to potential hires. [Read the Guide →]( Explore Events With TriNet Learn more about potential saving strategies and your HR outsourcing options from our events and webinars: [The PEO Edge] 3 Types of HR Outsourcing Companies [Watch Now →]( 6 Ways to Be An Employer of Choice [Watch Now →]( [TriNet]( Follow Us... [TriNet LinkedIn]( [TriNet Instagram]( [TriNet YouTube]( [TriNet Facebook]( [Our HR Services]( | [HR Trends & Insights]( | [Pricing]( | [Let's Connect]( © 2024 TriNet Group, Inc. All rights reserved. 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