Pacel Corp. Announces Plan to Market Services to Latin American Business Owners Throughout the U.S.

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Share Name	Share Symbol	Market	Type
Pinnacor (MM)	NASDAQ:PCOR	NASDAQ	Common Stock

Pinnacor (NASDAQ:PCOR)
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From Nov 2019 to Nov 2024

Pacel Corp. Announces Plan to Market Services to Latin American Business Owners Throughout the U.S. CHARLOTTE, N.C., Oct. 13 /PRNewswire-FirstCall/ -- Pacel Corp. (OTC:PCOR.OB) (BULLETIN BOARD: PCOR.OB) announced today that it has initiated its Latino focused marketing program to aggressively market and penetrate the growing Latin American businesses. The company has hired a new sales person in NC that is fluent in Spanish to lead this effort. This new addition to the sales force will complement the ongoing Lincoln Consulting, LLC's aggressive sales and marketing campaign now under way. Lincoln Consulting, LLC, a strategic marketing firm, was engaged by the company to develop and launch an aggressive and innovative marketing and sales plan. This plan includes hiring and training the sales team as well as marketing the company's services through networks of national associations and chains. In evaluating the company's marketplace it was determined that the Hispanic businesses are not specifically being addressed and are in significant need of Human Resource Services as they grow. North Carolina had the Nations fastest growing percentage of change in Hispanic buying power between 1990-2002. The increasing number of Hispanics who are successfully starting and expanding their own business is another factor powering their growth. Gary Musselman, President and CEO of Pacel Corp. stated, "Hispanic businesses are growing at three times the national average, and many of them are reaching a critical size." Hispanics now own more businesses than any other minority group, a phenomenon that is only going to increase with Hispanic population growth outpacing the rest. In addition, a recent Junior Achievement poll showed that some 79 percent of Latino teenagers "want to start their own businesses," compared with 69 percent of non-Hispanic white kids. All the more reason not to be surprised by an IRS report predicting that 1 out of every 10 small businesses will be Hispanic by the year 2007. Today the proportion stands at 1 in 13 and rising. Through its PEO/ASO business unit, the Company markets to current and prospective clients, typically small to medium-sized businesses with between five and 1,500 employees, a broad range of products and services that provide an outsourced solution for the clients' human resources ("HR") needs. The Company's products include payroll services, benefits administration (including health, welfare and retirement plans), governmental compliance, risk management (including safety training), unemployment administration and other HR related services. The Company is currently working to establish the national vendor relationships it believes are necessary to effectively and competitively provide such services to a broad range of clients that will now include Hispanic businesses. PEO companies are growing at a rate of greater than 20% and most experts predict this rate of growth can be sustained for 5-10 years as PEO's respond to the growing need for their services. The Small Business Administration estimates there are nearly 6 million businesses with fewer than 100 employees. These small to mid-sized businesses employ over 52 million employees with an aggregate payroll of over $1.1 trillion. It is estimated the PEO industry currently has between 2-3 million worksite employees with annual payrolls greater than $18 billion. With just 2% of the market, the growth in PEO services is unlimited. With an average annual growth rate of 20%, more and more business owners are turning to the Professional Employer Industry to provide them with the tools they need to increase productivity and profits. The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from these stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) the effectiveness of the Company's sales and marketing efforts; (iii) changes in the competitive environment of the industry; (iv) changes in general economic conditions; (v) changes in the Company's direct costs and operating expenses; (iv) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure. (vii) Management's ability to effectively implement its business strategy. These factors are described in further detail in filing with the Securities and Exchange Commission. DATASOURCE: Pacel Corporation CONTACT: John Hopf of Wall Street Financial Network, LLC, +1-212-825-7500, or

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PCOR Pinnacor (MM)