Solutions for small businesses
Athens, Ga.-based Padgett Business Services is a financial services company dedicated to helping small business owners (defined by Padgett as businesses with less than 20 employees). The firm offers tax consultation, financial reporting, government and payroll services, and business advice through 400-plus offices throughout the U.S. and Canada. Padgett came in at No. 61 on Accounting Today’s 2008 Top 100 Firms list, which ranks accounting firms by U.S. revenue. The firm reported $43.15 million in revenue for 2007, 4.2 percent improvement from the previous year.
In addition to its core tax services, Padgett also offers its clients resources it calls “plus services,” which help entrepreneurs to streamline their businesses and lower costs. These products include the ExactTrak Workers’ Compensation Payment System, a custom-designed system that helps small businesses manage cash flow and payroll, credit card processing services, pension and 125 plan administration, and connections to financiers who offer loans for the equipment needs of small businesses.
Padgett Business Services started in 1965, when Atlanta-based entrepreneur Walter Padgett had the idea to launch a financial services company that would focus exclusively on small businesses. By 1966, his company was off the ground, distinguishing itself from its competitors by tailoring a proprietary-designed accounting system specifically for the small business sector. In the mid-1970s, Padgett Business Company entered the franchise market, spreading rapidly throughout the United States in small offices. By the late 1980s, the franchising had become so successful that the company spread out into Canada.
Padgett Business Services gained a public persona in 1996, when it sent representatives to Washington D.C. to testify on behalf of small businesses. In 2002, the company officially changed its name to SmallBizPros, Inc., in order to reflect its ongoing history as an advocate and partner to small businesses throughout the country.
Working with the establishment
During the mid-1990s, the executives at Padgett Business Services realized that its dealings with Washington could be better focused if the firm had a fully devoted department that could advocate on behalf of its clients. This was the motivation for forming the Padgett Foundation, an organization that provides “technical counsel and expert testimony on issues important to small business before federal administrative departments and agencies, as well as before Congress.” Part of the Padgett Foundation’s function is also to accumulate and analyze data regarding the small business community, which it updates on a regular basis. The information is them dispersed to small business owners through the hundreds of Padgett Business Franchises.
160 Hawthorne Park
Athens, GA 30606
Phone: (706) 548-1040
Employer Type: Private
CEO: Steve Rafsky
2010 Employees (All Locations): 761