National Small Business Week

Running your own business can be a challenge. Sheakley is here to help.

April 29 to May 5, 2018 marks the 55th annual National Small Business Week. Small business has long been the backbone of the American economy and workforce, employing 48% of the American labor force. The demands of running your own small business can be challenging. From managing human resources functions to making payroll less hectic to managing unemployment insurance administration, Sheakley welcomes the opportunity to support small businesses, their owners, and their employees.

Human Resources Outsourcing

When you work with a relatively small staff, it can be tempting to keep HR functions in house. A 2017 report shows that 70% of small businesses attempt to do just that, to the tune of $27 million per year spent on HR and HR related functions. And those are just the payroll hours spent on these tasks. Among the people managing HR internally, 82% have no formal training or education in Human Resources, exposing these small businesses to the risk of potential litigation for noncompliance, hiring and firing practices, inadequate benefits administration, and many others. Human resources is one of the most complex aspects of running a business and, if you’re not careful, potentially one of the most costly.

With more than 115 years of combined HR management experience, Sheakley’s dedicated staff offers an unparalleled approach to guide you through the complicated world of human resources with confidence and support. From access to our state of the art HRIS to development of policies and onboarding procedures, find out if the HR services offered by Sheakley’s are the right fit for your company.

Payroll and Payroll Tax

Payroll challenges are a fact of life, and a major source of headache, for small business owners. The NSBA reported in 2014 that payroll and payroll tax ranked as the number one most financially burdensome and number two for most administratively burdensome tasks for small business owners. Owners and managers report spending 6 – 10 hours per week on payroll processing. That is time that could be spent marketing your business, interacting with clients, making sales, or coaching your staff. Frequent changes in the tax code mean that this time-consuming process could be even more costly in penalties and fines resulting from incorrect reporting or withholdings.

Sheakley’s Human Capital Management application comes complete with Payroll Processing Services, Time and Labor Management, Employee Onboarding tools, ACA Management and online Benefits Enrollment. This complete payroll administration solution offers everything from basic payroll processing to electronic tax filing, while helping you manage costs and stay compliant. The Human Capital Management system allows employers and employees to access and update employee information at anytime from anywhere. W-2s are automatically available to employees at the end of the year and employees can access up-to-date PTO accruals at any time. The online payroll administration solution allows you to pay your employees anytime from anywhere. Additionally, all clients work with a dedicated service representative available to answer questions or provide direct assistance at any time.

Unemployment Insurance

Unemployment insurance benefits are designed to provide temporary assistance to unemployed workers who qualify for the benefits. Ohio businesses are required to pay unemployment compensation taxes and report wages paid on a quarterly basis under the Ohio Unemployment Compensation Law. Is your business paying enough? Are you paying too much? Approximately 11.2 percent of companies spend more than necessary on unemployment claims. Being out of compliance could mean even more unnecessary costs.

In addition to saving you money by exploring all available unemployment tax savings opportunities, Sheakley unemployment experts will ensure that your small business remains compliant. Acting on your behalf, experts will respond to claims, offer consultation, and minimize your liability. In addition, you and your staff will receive regular updates and educational opportunities to ensure that you are aware of any changes to unemployment regulations. Should you find yourself at an unemployment hearing, Sheakley will provide experienced hearing representatives to participate in your unemployment hearing.

Additional resources for your small business

Ohio Small Business Development Centers (SBDC) services include:

Cash flow analysis
Strategic business planning
Identifying sources of capital
Marketing strategy development
Market feasibility and research

U.S. Small Business Administration (SBA) services include:

Loans and/or loan guarantees
Business counseling
Disaster assistance
Bidding/negotiating for government contracts

Sheakley lets you focus on running your small business

No one can do it all alone. Partnering with Sheakley will allow you to focus on what you do best – run your business. During this National Small Business Week, Sheakley wishes to extend thanks and wishes for great success to all small business owners throughout the state of Ohio.

To learn more about how Sheakley can help your small business grow, contact us today. Stay up-to-date on all things Sheakley by subscribing to our blog and following us on social media. Join in the discussion by commenting below.