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Payroll & Bookkeeping Services in Newfoundland

Author.Name IBISWorld Canada Last Updated: August 2025 NAICS NL54121bCA

Payroll & Bookkeeping Services in Newfoundland industry analysis

Revenue for the Payroll & Bookkeeping Services industry in Newfoundland And Labrador is expected to grow an annualized x.x% to $x.x million over the five years to 2025, while revenue for the national industry will likely grow at x.x% during the same period. The number of industry establishments has increased an annualized x.x% to xxx locations over the past five years. Industry employment has increased an annualized x.x% to xxx workers during the period, while industry wages have increased an annualized x.x% to $x.x million.

Over the five years to 2030, provincial industry revenue is expected to grow an annualized x.x% to $x.x million, while revenue for the national industry will likely grow x.x%. The number of industry establishments is forecast to grow x.x% to xxx locations over the next five years. Industry employment is expected to increase an annualized x.x% to xxx workers during the outlook period, while industry wages likely increase x% to $x.x million.

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About the Payroll & Bookkeeping Services in Newfoundland Market Research Report

What’s Included in the Payroll & Bookkeeping Services in Newfoundland Market Research Report

Definition of the Payroll & Bookkeeping Services in Newfoundland?

The Payroll and Bookkeeping Services industry in Canada provides outsourced payroll services for clients’ employees. Basic bookkeeping services are also covered in this report. This industry does not include tax preparation firms and certified public accountants (CPAs).

What’s included in the Payroll & Bookkeeping Services in Newfoundland?

The Payroll & Bookkeeping Services in Newfoundland includes payroll administration services and bookkeeping services. Related terms covered in the Payroll & Bookkeeping Services in Newfoundland industry report includes when businesses use outside service providers to perform non-core functions, keeping record of a business' financial transactions, when businesses bring outsourced functions in-house to save money or improve service quality and company records of salaries and wages paid out to its employees.

Industry Performance of the Payroll & Bookkeeping Services industry in Newfoundland

Benchmark the Payroll & Bookkeeping Services in Newfoundland industry performance with all NL Census Metropolitan Area and national performance.

Payroll & Bookkeeping Services in Newfoundland

#9 in Highest Revenue 0.6% of province's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Payroll & Bookkeeping Services in Canada


Revenue (2024)
Annual Growth (2019-24)
Annual Growth (2024-29)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Payroll & Bookkeeping Services industry in Newfoundland

See how key industry drivers, such as private investment in non-residential construction, new business formation, gross domestic product, number of businesses, corporate profit and national unemployment rate are impacting Payroll & Bookkeeping Services in Newfoundland

Newfoundland Economic Indicators

Private Investment in Non-Residential Construction
New Business Formation
Gross Domestic Product

View more economic information in NL State Economic profile

Canada Key External Drivers

Number of businesses
Corporate profit
National unemployment rate

For the full list of industry drivers, see report purchase options.

Census Metropolitan Area Data of the Payroll & Bookkeeping Services industry in Newfoundland

Access proprietary data on Census Metropolitan Area in the Payroll & Bookkeeping Services in Newfoundland, such as St. John's, Corner Brook and Bay Roberts. Data includes figures on revenue, establishments, employees and wages by Census Metropolitan Areas.

Key Statistics of the Payroll & Bookkeeping Services industry in Newfoundland

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Payroll & Bookkeeping Services industry in Newfoundland in 2025?

The market size of the Payroll & Bookkeeping Services industry in Newfoundland is $47.1m in 2025.

How many businesses are there in the Payroll & Bookkeeping Services industry in Newfoundland in 2025?

There are 139 businesses in the Payroll & Bookkeeping Services industry in Newfoundland, which has been growing at an average annual rate of 3.3% from 2020 to 2025.

Has the Payroll & Bookkeeping Services industry in Newfoundland grown or declined over the past 5 years?

The market size of the Payroll & Bookkeeping Services industry in Newfoundland has been growing at an average annual rate of 7.4% from 2020 to 2025.

How many employees in the Payroll & Bookkeeping Services industry in Newfoundland in 2025?

There are 190 employees in the Payroll & Bookkeeping Services industry in Newfoundland, which has been growing at an average annual rate of 2.9% from 2020 to 2025.