Long days, vacations, barbecues, baseball … what’s not to enjoy about summer?! It’s also the time of year when we celebrate what it means to pursue the American dream, which is rooted in life, liberty and the pursuit of happiness. And, for many, this dream materializes in entrepreneurship and, going a step further, buying American-made products as a way to support a strong domestic economy.
Today on unsuitable on Rea Radio, Kyle Stemple, CPA, CGMA principal and director of manufacturing services at Rea & Associates, talks about the value of “buying American,” and the direct impact consumers have on America’s marketplace and the quality, customer service and product support we receive from domestically-run businesses.
In the recent past, there were many legitimate reasons why a U.S. manufacturer might turn their sights abroad, including cost and labor issues. For many years American companies suffered from an insufficient labor source in certain areas of production, explained Kyle. Oftentimes, they were forced to look for a better, more dependable labor pool in foreign countries. Fortunately, the re-shoring of American manufacturing is returning, due to the increasing demand of better quality products.
Kyle paints the future of manufacturing in America as self-sufficient and self-reliant. Then, he argues, supply, demand and the free market will round out the economic influence. Even as more companies find their way back stateside, labor concerns continue to pose a threat. Kyle points to a legal citizen immigration process as a potential solution to the American workforce deficit, specific to manufacturing.
Due to our economy, tax structure, creative capitalism, and work ethic, America is clearly a global leader in innovation and technology, and there are a wide variety of tax incentives available for those business owners who invest here at home.
articles & insight
Take A Detour: Top 4 Detours For Financial Relief – Created with Haiku Deck, presentation software that inspires;
Manufacturing Industry Leaders Call For Regulation Reform – Our economy is directly influenced by the success of the manufacturing industry, yet obstacles continue to clutter the road toward efficiency and growth. Read on to learn about the concerns facing Ohio’s manufacturers.
Help Is Available For Small Manufacturers Impacted By Foreign Imports – America is the land of the free, and a place where we’re all supposed to have boundless opportunities. So if you’re the business owner of a small manufacturer, and you’re feeling financially and competitively pinched because of foreign imports, know that there is relief. Read on to learn more.
How Can I Solve My Staffing Woes In The Manufacturing Industry? – Being a manufacturer in today’s economy has it opportunities and challenges, and right now you may be flying high on business and running low on people to actually do the work. You may scratch your head daily over this issue and wonder how you can attract the right individuals to do the jobs. Let’s start with the root of the problem—perception. Keep reading to learn more.
How Can Manufacturers Deal With Competition? – Contrary to popular belief, the manufacturing industry is alive and well. For years, we’ve heard that it’s a “dying” industry. But that’s just not so. In fact, many manufacturers are enjoying higher profitability than 2008 pre-recession levels. However, if your manufacturing business is still young or you’ve hit a rough patch and are starting to see a downward shift in your sales and employment, there’s assistance that you may qualify for to help you get out the rut you’re in. Learn more.
Research & Development Credit Benefits Businesses Of All Sizes – The R&D tax credit applies to more than just businesses that have research facilities. In fact, many businesses across a range of industries may qualify for this valuable credit, but instead of asking their financial advisor for guidance, they give in to the misconception that they are not “big enough” or that they have not “big enough investments in technology.” I recommend you avoid this mindset at all costs. Read on to find out why.
Should I Make A Big Purchase To Cut Taxes? – Before you make any decisions that could impact your business’s financial stability, read on to make sure these six items on your balance sheet are accurate.
Should You Maximize Cash Flow Or Minimize Income Taxes? – “Do I need to buy, and expense, equipment or a vehicle before the end you the year to save income tax?” Every CPA involved in business tax planning hears some variation of that question several times, on an annual basis. Our first question back to you is, “Do you need it?” Keep reading to learn more.
From Good To Great: 5 Ways You Can Improve Your Manufacturing Business – As a seasoned manufacturer, you know your business inside and out – when there is a problem, you provide a solution; when a ball drops, you pick it up. If this sounds like you, then it’s time to get out of your comfort zone. Check out these tips to help you improve your manufacturing business.
Click here to read the official transcript of episode 38: “self-reliance: made in america.”
Regulation Roadblock: Manufacturing Industry Leaders Call For Regulation Reform – Created with Haiku Deck, presentation software that inspires;