check out 99designs.ca . I used it at had over 250 logos submitted to me in 5 days for $300. Anyway just another option but I had a pleasant experience.
FYI you can not create vector images using Photoshop.
> I will have to look into creating vector images as I’ve never done that before. Wouldn’t that have an impact on file size even when it is scaled down say for the website?
Once you’ve made the vector in Illustrator, it’s easy to export as a .png or .svg, so you’ve got great options to optimise it for the web and save kb :)