Mobile Menu

Payroll & Bookkeeping Services in Ontario

Author.Name IBISWorld Canada Last Updated: August 2025 NAICS ON54121bCA

Payroll & Bookkeeping Services in Ontario industry analysis

Revenue for the Payroll & Bookkeeping Services industry in Ontario is expected to grow an annualized x.x% to $x.x billion 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 x,xxx locations over the past five years. Industry employment has increased an annualized x.x% to x,xxx workers during the period, while industry wages have increased an annualized 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 billion, while revenue for the national industry will likely grow x.x%. The number of industry establishments is forecast to grow x.x% to x,xxx locations over the next five years. Industry employment is expected to increase an annualized x% to x,xxx workers during the outlook period, while industry wages likely increase x% to $x.x billion.

Unbiased research for even more industries at your fingertips

  • 5000+Industries covered
  • 100+Local analysts
  • 250k+Hours of detailed analysis
  • 100k+Subscriber community

Purchase a membership to access this industry and so much more.

About the Payroll & Bookkeeping Services in Ontario Market Research Report

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

Definition of the Payroll & Bookkeeping Services in Ontario?

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 Ontario?

The Payroll & Bookkeeping Services in Ontario includes payroll administration services and bookkeeping services. Related terms covered in the Payroll & Bookkeeping Services in Ontario 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 Ontario

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

Payroll & Bookkeeping Services in Ontario

#1 in Highest Revenue 39.8% 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 Ontario

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

Ontario Economic Indicators

Gross Domestic Product
Private Investment in Non-Residential Construction
BachelorsEd

View more economic information in ON 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 Ontario

Access proprietary data on Census Metropolitan Area in the Payroll & Bookkeeping Services in Ontario, such as Toronto, Ottawa - Gatineau and Hamilton. Data includes figures on revenue, establishments, employees and wages by Census Metropolitan Areas.

Key Statistics of the Payroll & Bookkeeping Services industry in Ontario

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

Need a deeper insight?
Get a free tour.

Free Tour

Top Questions Answered in this Report

Unlock comprehensive answers and precise data upon purchase. View purchase options.

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

The market size of the Payroll & Bookkeeping Services industry in Ontario is $2.9bn in 2025.

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

There are 8,681 businesses in the Payroll & Bookkeeping Services industry in Ontario, which has been growing at an average annual rate of 0.6% from 2020 to 2025.

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

The market size of the Payroll & Bookkeeping Services industry in Ontario has been growing at an average annual rate of 4.5% from 2020 to 2025.

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

There are 11,860 employees in the Payroll & Bookkeeping Services industry in Ontario, which has been growing at an average annual rate of 0.3% from 2020 to 2025.