Start-up businesses established during the recession are leading the economic recovery, according to online accountant Crunch.co.uk.
The accountancy firm has been receiving calls from its small business customers looking to expand and wanting to recruit new staff. The experience at Crunch.co.uk backs up a study from Barclays Bank and Kingston University that suggested small businesses would be a key driver of the UK economy.
The report found that 66% of owner-manager businesses are expecting to grow in 2011 while 56% of small businesses are expecting an increase in profits in the next 12 months.
Crunch.co.uk reports that about 15% of its 800 customers, made up of single and two director companies have enquired about introducing PAYE staff into their start-up.
“What we are seeing is the economy really starting to pick-up,” said Darren Fell, Managing Director of Crunch.co.uk. “Many of our 800 plus customers are growing and are telling us they need to recruit. We are consistently seeing freelancers and contractors, who have set-up as Limited companies, inquire about adding PAYE staff.”
Responding to the increasing demand, Crunch.co.uk is to add a payroll function to its £59.50 a month accounting service from the end of this month.
The new add-on service will cater for small businesses employing up to ten workers.
For companies with one to five employees, the payroll feature will cost an additional £24.50 a month. Up to ten employees, the cost will be £34.50.
Fell added: “The plan was always to provide innovative accounting to freelancers and contractors that develop into microbusinesses. The whole area from freelancer to microbusiness is, in our view, one of the most vibrant and exciting. This is where our focus and expertise will remain.
“After years of supporting the community with free advice sites like freelanceadvisor.co.uk, and now contractoradvisor.co.uk, it’s fantastic to see these small businesses flourish.”
Crunch.co.uk combines a team of expert accountants with ridiculously easy-to-use online accounting software. Designed specifically for freelancers, contractors and small businesses, Crunch.co.uk is more than just accounting and is a vital business tool. The accountant and software service is available for a fixed monthly fee of £59.50. For this, users can invoice, add expenses, have their annual accounts and returns prepared and see the exact health of their businesses instantly with a fun, innovative and simple-to-use website with banking grade security. Crunch.co.uk is the next generation of accounting which replaces the traditional accountant. It takes the pain out of accounting and helps people live the entrepreneurial dream.
Crunch.co.uk won ‘Innovation in Business’ at the Brighton and Hove Business Awards 2009 and is founded by online entrepreneur Darren Fell. Fell appears in the 2008 Courvoisier ‘The Future 500’ in association with The Observer’; a league table of the UK’s most talented business people and was also named Entrepreneur of the Year at the Sussex Business Awards 07/08. High profile online entrepreneurs – Bebo’s co-founder Paul Birch and former Skype Chairman Michael van Swaaij – are investors in the company.
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