As the austerity measures imposed by the coalition government continue to take a blistering toll on the business community, some of the hardest hit businesses are those that have previously relied on lucrative local and central government contracts. In fact, the tightening of the public purse strings at regional and national level is causing businesses, whose cash cows have traditionally been public sector organisations, to lose their fights to stay afloat. Early 2011 to early 2012 witnessed the demise of 26% more businesses with largely or solely public sector client bases than during the same period of the previous year.
Add to their plight the reluctance of banks to lend, and the resistance of shareholders to contribute additional equity, and the overall picture is far from pretty for such businesses that are likely to continue to suffer from public sector cost cutting in to the foreseeable future. As many rewrite their business plans and turn to the private sector to replace their public sector losses, it is not only a case of securing new business, but also of saving money on internal resources.
Some businesses and their HR payroll personnel might immediately shy away from the idea of increased efficiency for money saving purposes, assuming that it automatically equates to redundancies. However, this does not have to be the case, as credible and trustworthy human resources and payroll companies prove to increasing numbers of hard hit businesses.
At Moorepay, a leading UK based HR and payroll company, we do not pretend to possess a magic wand that can conjure up new clients for businesses. We can, however, save them valuable time and money on internal functions that cost them dearly, by providing them with professional and affordable outsourced HR and payroll solutions. When doing so, we can minimise their laborious and unprofitable input, allowing them to maximise their money making output.
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