Paychex Introduces Website to Spur Small Business Development
by AccountingWEB on
By Deanna C. White
In the more than forty years Rochester, New York–based Paychex, Inc. has been in business, its mission has been to provide excellent payroll, human resources, and benefits outsourcing solutions to the backbone of the American economy – small and medium-sized businesses.
And, as the payroll provider for the AICPA, Paychex has also formed tight bonds with the accounting community.
So it is no surprise that Paychex's latest effort, the new website BuildMyBiz.com, is designed to help fledging entrepreneurs and the accountants who serve them start their businesses off on the right foot. BuildMyBiz provides the tools and resources necessary to launch, grow, and manage their businesses.
"Through our strong partnership with the accounting community, we realized it would be mutually beneficial to all of us to provide a resource that would help accountants better serve their clients who are either thinking about starting a new business or in the early stages of developing that business," said Andrew Childs, Paychex's vice president of marketing. "We knew it would help all of us to know each other earlier in the process."
According to Childs, BuildMyBiz provides two types of services to novice business owners: (1) resources in the form of white papers and articles on subjects like creating a business plan, understanding marketing, and product development, and (2) tools like calculators, estimators, and the BuildMyBiz Facebook page and Twitter accounts to help business owners put their plans to work.
Some of those interactive tools are provided by Paychex through partnerships with Biz2Credit; Standard Register; and leading creator of business management solutions, Palo Alto Software. The site also provides content from the U.S. Small Business Administration website.
"Much like us, the accounting community has a vested interest in the success of their clients," Childs said. "We asked the accounting community what they believed would help their clients be successful. Essentially, they wanted to be able to direct their clients to a resource that would provide basic business-one-on-one advice."
Some of the most popular topics accountants wanted placed on the site included subject matter expert comments on such issues as how to hire and retain employees, how to read a balance sheet, and how to understand profit versus cash flow.
Other topics accountants wanted to direct their clients to include how to secure a federal identification number, how to build a website, and compliance issues.
However, one of the most valuable aspects of the site, Childs said, is the one-on-one interaction small business owners receive with their fellow entrepreneurs via social media sites, such as the BuildMyBiz Facebook page and Twitter account or by simply logging in to offer feedback on the BuildMyBiz website.
"Our site currently has 'builders' [who] have the ability to leave comments so they can have an ongoing dialogue through their postings on the site," Childs said. "People can also share the articles and tools with their own network, so if [accountants see] an article they feel would be important to their clients, they can e-mail it or send it out to their client base through Facebook or Twitter.
Ultimately, Childs said, in this difficult economy, it is critical to provide small business owners with as many resources as possible to benefit the American economy on the whole.
"We believe that over the years, partly due to regulations at various levels and partly due to the current economic climate, it has become increasingly complicated to start a business and be successful at it," Childs said. "We want to do everything we can to provide a one-stop shop to help new business owners get their start."
Paychex, Inc. provides payroll, human resources, and benefits outsourcing services to small- and medium-sized businesses.
The company was founded in 1971 by B. Thomas Golisano with just $3,000 and a good idea – to make payroll outsourcing easy and affordable for small businesses. From those early days with just one employee, Paychex now has more than 12,000 employees serving more than half a million small- to medium-sized businesses nationwide.
With more than 100 office locations across the nation, Paychex produced $2.1 billion in revenue in fiscal year 2011. The company offers an ever-growing variety of payroll and human resources products and services that help clients do what they do best – run their businesses. With a wide range of services – including payroll processing, retirement services, insurance, and a fully outsourced human resources solution – Paychex customizes its offering to the client's business, whether it is small or large, simple or complex.
For more information visit BuildMyBiz.com.