In 2011, 40% of US companies did payroll manually, risking massive fines
Josh Reeves · How Gusto’s $10B founder raised $6M, built a team of 5—& hit $5M ARR in just 2 years. | Josh Reev... · PMF Show · Jan 6, 2025 · at 5:58
Josh Reeves describes the broken state of US small business payroll when Gusto was founded around 2011.
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“When we started Gusto, you had close to 40% of companies in the U.S. Doing payroll by hand. You had close to that same percentage, you know, 30 to 40% getting fined, penalized by the government for making mistakes. You had billions and billions of dollars of penalties.”
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