Starting a new business is a brave and risky undertaking. According to data gathered by the US Small Business Administration, there are 30.2 million small businesses in the country. The US Bureau of Labor Statistics found that approximately 20% of small businesses fail within their first year. By the end of their fifth year, about 50% of the small businesses fail and after 10 years, the survival rate drops to approximately 35%.
These statistics are scary and there are a lot of reasons behind them, including difficulties with financial management, loss of focus and lack of having the best support of their administrative operations. Partnering with a PEO is one of the best ways you can address these factors and more, assuring that your business has the best chance of long term growth and success.
There are many benefits of partnering with a PEO to support the long-term operations of your business. These include:
At Applied Business Solutions we help Florida small businesses thrive in their markets. Our PEO partners with companies just like yours to help reduce costs, improve benefits and achieve long-term growth. Contact us to learn how we can help your business avoid becoming a statistic.
“Without the use of their PEO service expertise, and website resources, I don’t know what I would have done.”Charley D. – St. Augustine, FL
“Applied Business Services saved me and my company so much money on all of our PEO service needs. Highly recommended to anyone in the market!”F. Reynolds – Jacksonville, FL