Payroll service exceeds fundraising target

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The success of campaign by a Dunedin and Wellington-based payroll service demonstrates people’s commitment to investing in a “social enterprise”, a Dunedin spokesman says.

Thankyou Payroll has passed its $400,000 fundraising target by $59,000, enabling it to develop the business, increase staff numbers and market its payroll software.

Thankyou Charitable Trust chairman and Dunedin resident Steve Walker said the successful campaign demonstrated a new way for businesses to engage with their communities.

The PledgeMe crowdfunding campaign, which had resulted in 185 investors pledging $459,000 to the company, was in response to the current Inland Revenue Department-subsidised payroll services being set to cease next year, after which Thankyou Payroll would charge clients for its services.

Other changes – to be enforced from 2019 – would also require all businesses to use a payroll provider or IRD’s own service, meaning more than 60,000 new clients would be available to use Thankyou Payroll’s services, he said.

The success of the crowdfunding campaign was also evidence that people were willing to invest in a “social enterprise”.

The trust had given away more than $80,000 to more than 80 community organisations around the country since it began in 2010, Mr Walker said.

The philanthropic side of the company is funded by the 25 cents per person per pay that is funnelled into the Thankyou Payroll Trust, which is then given to community organisations.

The company’s potential staffing increase, from its current 13 to almost twice that, would have a positive effect on Dunedin.

The business, which has offices in Wellington and Dunedin, would require a new office space after staffing increases. It was expected up to six new staff would join the three already based in Dunedin,

For more information on Thankyou Payroll, go online to thankyoupayroll.co.nz.