Business is Booming. Here’s Why.
At PBO Advisory Group, we are seeing the signs of a strong recovery everywhere. We need to look no further than our own company to see major growth of our business advisory services and other service lines. Here is our take on some of the factors prompting the uptick in our industry and many others.
1. Recovery programs for businesses
The light is finally at the end of the tunnel in terms of COVID-19’s negative effect on business. Government stimuli, forgivable and low-interest loans such as the PPP, tax relief such as the Employee Retention Tax Credit (ERTC), and more have provided much-needed funds that companies are using to bolster their business and to ramp back up to pre-pandemic performance. These funding opportunities can be difficult to navigate. At PBO Advisory Group, we have helped many of our clients cut through the red tape of filing for and receiving these funds.
2. Working Remotely
The pandemic taught us that working remotely works. It isn’t necessary for employees to work 40+ hours a week in an office to be productive. Additionally, good communication between employees and management doesn’t have to be done in person. With access to WIFI, the internet, electricity, and a laptop, employees can work from anywhere. Companies can hire the best candidate for a job with virtually no consideration as to the location of the company or the employee. At PBO Advisory Group we are supporting clients literally throughout the world – including Asia, Europe, United Kingdom, and the Bahamas – as well as across the United States. And we are hiring our team not only from San Diego where we are headquartered but from Texas, Ohio, Arizona and any other state that has the talent we want.
We are seeing growing momentum for companies to adopt the outsourced employment model. As employee costs continue to rise and the labor pool shrinks, many companies now realize that a full-time professional workforce isn’t necessary. By outsourcing, companies can save money and reallocate employee salaries and benefits. This is especially true for companies with annual revenues of $50 million or less. Businesses of this size need specific skill sets, such as CFOs or HR directors, but don’t want or need the overhead cost of filling these positions on a full-time basis. Companies that have benefited from government programs need short-term strategic help in determining how to maximize their new funding. Others are now ready to invest in new technology and programs that were put on hold during 2020. Such specialized projects only require full-time support during implementation, not beyond. Utilizing outsourced staffing also saves time in the hiring process and little, if any, training is needed to get an experienced outsourced team up to speed.
At PBO Advisory Group our business advisory services have grown 180% over the past 6 months. Often thought of as a finance and accounting or HR consulting firm, we have a robust list of advisory services we offer to clients of all sizes, domestically and internationally.
Whether your business is in growth mode, looking for an exit, experiencing difficult challenges, or searching for funding, PBO Advisory Group can be the key in leading or supporting your efforts through our business advisory services:
- Government recovery programs consulting and applications
- Business strategy, planning and performance improvement
- Benchmarking and measuring improvements and strategy effectiveness
- Exit strategy planning
- Advanced financial reporting
- Compensation incentive plans
- Public reporting
- M&A and IPO support
- Business disaster planning
Because business is booming, PBO Advisory Group is hiring. If you’d like to join our hard-working, dedicated team – no matter where you are located – let us know.
For more information about our business advisory services, please contact Francesca San Diego.