Happy New Year
Greetings Customers & Friends,
Happy New Year to all of you. Wishing everyone a happy, healthy and prosperous 2025.
As companies grow things change. Parkerville is experiencing some of these changes due to the growth of our Company in recent years. Regulatory pressures weigh heavy on small business owners, according an article published in the Hartford Courant this past Sunday. According to the Met Life and U.S Chamber of Commerce Small Business Index for the 4th quarter of 2024, about half of the owners and decision makers of small business say that handling regulatory compliance costs too much time and money, and that the trend is getting worse. Issues such as payroll, recordkeeping, DOT compliance, licensing, permits, taxes, cybersecurity, and safety (more on safety later) are all vitally important to the success of any business. The larger the company, the more protection is required. 51% of the respondence to this survey state that these requirements make it harder to grow their businesses. Many small businesses rely on subcontracting out some of these services which of course adds to company’s expenses.
All small businesses face similar challenges. Here are some obstacles that we’ve recently encountered, and how Parkerville manages some of these things as we grow: