- Increases in the cost of raw materials and resources which have the potential to cut profits.
- Employee costs when failure to budget for safety and compliance can lead to increased workers compensation premiums.
- Supply chain disruptions which can cause downturn in production and decrease profitability.
- Lack of or incorrect budget and planning which can have a negative ripple effect throughout the business.
These are just a few of the reasons it essential that business owners operating in the manufacturing industry obtain the most current and accurate advice from their accountant in order that they make the right decisions and achieve the best outcomes.
Powell Enterprises has spent many years studying and analysing businesses operating in the manufacturing sector to stay at the forefront in advising their clients. Manufacturing is different other industries and its complex nature is a good fit with the interpersonal and business skills that Powell Enterprises can offer. The challenges the industry is often faced with allows us to be innovative and take advantage of opportunities to increase business success.