Lean experts with accounting experience can help improve internal controls and identify where companies are losing money through inefficiencies.
There are many lucrative tax benefits for manufacturers. Concannon Miller’s Manufacturing Team is immersed in the industry and is able to identify missed tax opportunities.
There’s no doubt businesses now operate in a global marketplace – for both the good and the bad.
On the upside, the global economy presents more opportunities for new markets and business growth. And that’s not the only way to increase profits through exporting – businesses that export also may qualify for several lucrative tax benefits.
But – as business is cyclical – we recognize there also are some downsides at times in a global economy. The good news is there’s also assistance available for Lehigh Valley manufacturers negatively affected by the global marketplace.
Faster. Cheaper. Better.
Every manufacturer continually seeks improved efficiencies. It’s not just the time it saves, but the materials and labor costs, as well.
Your company probably holds monthly if not weekly meetings featuring brainstorming sessions on how to improve efficiencies.
But in the Lehigh Valley, you don’t have to brainstorm alone. There are several organizations that specialize in helping manufacturers improve efficiencies, and at reasonable consulting costs. Ben Franklin Technology Partners offers some grants to pay for their consulting while services from the Small Business Development Center are entirely free.
While purchasing new equipment – or on a grander scale, a new facility – is generally a positive indicator for a manufacturer, it’s also a costly endeavor.
It requires significant cash reserves, either to buy the equipment in the case of more minor purchases or to secure bank loans for larger purchases.
But those don’t have to be your only two options. For Lehigh Valley manufacturers, there is a wide variety of low-interest loans and tax-exempt financing for construction, renovation and equipment purchases.
Job creation in itself provides many upsides for manufacturers. It’s usually undertaken when business is booming. It increases productivity and provides more local employment.
But there’s another big upside for job creation available to Lehigh Valley manufacturers – money. The federal, state and local governments all offer funding expressly for job creation in the form of grants and tax credits.
And there are also grants and other funding available to Lehigh Valley manufacturers to train those new employees.