Industry Analysis & Industry Trends
The recession caused unemployment to rise, reducing client payrolls and causing more businesses to go bankrupt. In turn, this movement reduced the pool of clients that once required payroll and bookkeeping services. However, as the economy recovers in the five years to 2019, 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 - Industry Locations Chapter
The geographic distribution of establishments in the Payroll and Bookkeeping Services industry is highly correlated with the distribution of the US population. There are a large number of small businesses in the industry that cater to small clients. These businesses are located close to large workforces, which typically are located in urban centers. Accordingly, the percentage of industry establishments is similar to the proportion of the US population in each state.
The Southeast region represents the highest number of establishments. In 2014, 25.1% of industry establishments are located in the region, in line 25.4% of the US population... purchase to read more