What’s the Status of Your Payroll Flow?

April 30, 2019 by OSYB Staff

“The State of Small Business Cash Flow”, a global study shared by Intuit last month, studied the behaviors, attitudes, and status of cash flow challenges of small business owners and the self-employed.

The study revealed that two-thirds (61%) of small businesses have had cash flow issues. As a result of this, nearly a third (32%) have at one time been unable to compensate their employees or themselves. And more often, more than 2 in 5 business owners are often at risk of paying their employees late.

That’s a huge problem when employee retention is integral to your business’s operation and when data from QuickBooks Payroll and TSheets, shares that “17 percent of employees who work for small businesses say that a single inaccurate paycheck would be enough to make them quit their job and 18 percent would quit after a single late paycheck”.

So where does that leave you, Intuit suggests that you check out some of their products. As with any information that is shared, please contact your own business professionals for their insight.

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For more details: Small business cash flow: The state of payroll

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