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Navigating the SMB Landscape: Trends and Innovations
This chapter discusses the insights gained from managing an HR, payroll, and benefits company for small and medium-sized businesses (SMBs), emphasizing the surge in new business formations in the U.S. and the unique challenges these enterprises face. It highlights the market opportunities for innovation in payroll processing, the importance of compliance, and the role of economic data in shaping policy discussions. Additionally, the chapter explores the competitive landscape, strategic growth opportunities, and advancements in embedded payroll services.