Industry Analysis & Industry Trends
Over the past five years, the industry has performed strongly as a large reduction in unemployment boosted industry revenue, as well as strong business conditions. In addition, the industry has benefited from the advancement of online and computer payroll and bookkeeping services, with new cloud-based offerings providing a new revenue stream for operators, and attracting new customers. Moving forward, increasing product penetration and an expanding customer base is expected to drive industry growth... purchase to read more
Industry Report - Industry Analysis Chapter
The Payroll and Bookkeeping Services industry offers time-crunched managers and small business operators the opportunity to outsource administrative tasks such as payroll and bookkeeping, in order to better spend time growing their core businesses. As a result, the industry benefits from strong economic conditions, when businesses prefer to spend their time and money focusing on core business growth and prefer to outsource services. Similarly, the industry benefits in times of low unemployment and increased business activity, as new and existing businesses engage industry operators to manage their increasingly sizable workforces.
In the five years to 2016, the industry has performed very strongly, and is projected to grow at an average annual rate of 7.8% to $81.1 billion... purchase to read more