Payroll & Bookkeeping Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Payroll & Bookkeeping Services Market Research Report | NAICS 54121b | Jul 2015

Base value: The improving labor market will boost demand for industry services

IBISWorld’s Payroll & Bookkeeping Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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Industry Analysis & Industry Trends

The recession caused unemployment to rise, reducing client payrolls and causing more businesses to go bankrupt. This movement reduced the pool of clients that once required payroll and bookkeeping services. However, as the economy recovers in the five years to 2020, many businesses that brought payroll and bookkeeping in house will begin to outsource once again and focus on core competencies. The improving labor market will also boost demand for industry services... purchase to read more

Industry Report - Starting a New Business Chapter

Barriers to entry are low for the Payroll and Bookkeeping Services industry. It is relatively easy for small players to enter the industry and set up operations providing payroll, bookkeeping and certain employee benefits administration services. There are few capital requirements needed to begin operations and many small firms exist that service only local markets. Regulatory requirements provide the single largest barrier to entry as firms are required to have extensive understanding of taxation and employee relation laws to operate. Furthermore, industry operators are subject to privacy, data-security and anti-money laundering laws... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Payroll & Bookkeeping Services Industry?

Operators in this industry provide outsourced payroll services for clients' employees and basic bookkeeping services are also included. However, this industry does not include tax preparation companies or certified public accountants.

Industry Products
Full-service payroll servicesPayroll services sold separatelyBilling servicesBookkeeping and compilation servicesGeneral accounting servicesTax planning and consulting servicesTax preparation and representation servicesOther services
Industry Activities
Payroll servicesBilling servicesBookkeeping servicesGeneral accounting servicesTax services

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