Help Your Business with Sprout’s Payroll Starter for only Php 5,000!

Running a micro, small, or medium enterprise (MSME) is no small feat. When it comes to managing your team and handling complex payroll, efficiency is the name of the game. We know that you, more than anyone else, are aware of the challenges of juggling multiple priorities daily.

That’s where strategic investments can truly elevate your operations.

Ever heard of Sprout Payroll Starter? If you haven’t, you’re in for a game-changer.

Investing in this affordable bundle for your small business can bring numerous benefits and streamline your payroll processes.  It isn’t just about managing numbers; it’s about simplifying your workload and ensuring accuracy in the process.

Explore how Sprout’s Payroll Starter could be the key to streamlining your payroll and taking your business to the next level.

MSME stands for Micro, Small, and Medium Enterprise. This refers to businesses that are smaller in size, have fewer resources, and have less formal operations than large corporations.

The specific criteria for categorizing businesses as MSMEs may vary from country to country. In the Philippines, a business is classified as an MSME if it has less than 10 employees; this is according to the Philippine Statistics Authority (PSA).

This number may seem small at first, but when you count the number of MSMEs in the Philippines (1,105,143), it becomes evident that they are the backbone of the country’s economy. In fact, MSMEs account for 99.59% of all registered business establishments, 63% of the country’s workforce, and generate 40% of the country’s gross domestic product (GDP).

MSMEs contribute greatly to the country’s economy, that’s why the Philippine government has been implementing various initiatives for them to grow and thrive. Despite this, they still face several challenges which hinder their growth and development.

Here are some of the common challenges you may encounter when running an MSME:

Many MSMEs in the Philippines lack access to loans and financial support, which hinders their ability to invest in new technologies, expand their operations, and hire more employees. The reason for this is that many financial institutions consider them as higher-risk borrowers due to their small size and limited credit history.

Many MSMEs lack the resources or awareness to adopt new technologies that could enhance efficiency and competitiveness. The main cause prohibiting small businesses from implementing these technologies is the high cost associated with acquiring and maintaining them.

According to our State of HR 2023 report, 46.7% of HR professionals say that budget constraints hinder successful tech implementation, which calls for greater financial support from upper management.

MSMEs may find it challenging to compete with larger enterprises that have established market presence and greater resources. Limited marketing capabilities and distribution networks can hinder their ability to reach a broader customer base.

Economic downturns, recessions, or fluctuations in market conditions can significantly affect MSMEs’s operations. Unlike larger enterprises with more financial capabilities, MSMEs may lack the resilience to weather prolonged periods of economic challenges.

Also, with increasing reliance on technology, MSMEs face risks related to cybersecurity, data breaches, and system failures. Implementing robust cybersecurity measures requires investment in technology and expertise, which may be challenging for smaller businesses.

Since MSMEs often operate with limited financial and human resources, they may lack dedicated HR personnel or advanced payroll systems for managing payroll processes. This makes it more prone to errors and inefficiencies, which can lead to 20-30% annual revenue loss.

Compliance with various regulations, such as taxation, labor laws, and environmental standards, can be complex and challenging for MSMEs, especially when they lack dedicated legal teams. Keeping up with legal and regulatory requirements can also divert resources away from core business activities.

Seeing these challenges just proves that small businesses still need to actively seek out solutions and utilize technology to be competitive in today’s business landscape. Lucky for you, there are simple payroll softwares for small businesses available that can help you streamline your operations at an affordable price.

Sprout Solutions understands the challenges that small businesses face, particularly in managing their payroll and human resources efficiently.

Recognizing the critical need for accessible and effective solutions, Sprout introduces the Sprout Payroll Starter — a cost-effective solution to support MSMEs on their journey to maximize efficiency and growth.

Priced at an affordable ₱5,000/month, this Starter Kit is best for companies with up to 10 employees, ensuring that even the smallest businesses can access professional-grade services.

What you’ll get from the Sprout Payroll Starter Bundle: 

Sprout Payroll Starter offers comprehensive payroll outsourcing services, relieving businesses of the intricate tasks associated with payroll management. This includes:

• Payroll Policy Reviews: Thorough analysis and optimization of existing payroll policies.
• Audits and Processing: Regular audits to ensure accuracy and timely processing of payroll.
• Payroll Processing and Training: Expert assistance in annualization processes and employee training.
• Payroll Benefits Administration: Streamlined administration of employee payroll benefits.

By outsourcing payroll to experts, businesses can rest assured that payroll processes are accurate, on time, and compliant with industry standards.

HR Lite is an integral component of Sprout Payroll Starter, offering user-friendly features to enhance HR management:

• Time and Attendance Management: Easy tracking of employee attendance.
• Payslip Access: Convenient access to digital payslips for employees.
• User-Friendly Log-in/Out: Simplified log-in/out procedures for efficient time management.

HR Lite facilitates efficient and simplified employee management, incorporating best HR practices to enhance organizational productivity.

Navigating government requirements can be a daunting task for small businesses. Fortunately, Sprout Payroll Starter does it for you:

• Statutory Benefits: Covers essential statutory benefits, including SSS, PhilHealth, and BIR compliance.
• Compliance Training: Keeps businesses up-to-date with regulatory changes.

This ensures that MSMEs can maintain their focus on growth strategies, knowing that they are fully compliant with legal obligations.

With Sprout, you can maximize efficiency and achieve business growth without the burden of navigating complex payroll and compliance requirements.

Invest in your business’s future — choose Sprout Payroll Starter and empower your business for success.