It’s Time: Ready, Set, Grow!
April 2, 2013
The other day I came across a rather uplifting article on Bloomberg.com. The article, titled “Americans Absorb Payroll-Tax Rise to Keep Spending: Economy,” announces a rise in consumer spending, stock prices, and employment despite recent tax increases. It sure is nice to hear some good news after years of doom and gloom. What’s even more encouraging—and downright exciting—is that the article reflects what we’re seeing at a local level: our clients are growing.
Across the board, we’ve noticed an enthusiasm for corporate growth that hasn’t been seen in years. Business owners who have weathered the recession are now growing their companies through expansion. Especially in our manufacturing sector, where pent up demand is accelerating spending. In fact, the Bloomberg article cites a 7.2 percent increase in orders for non-military capital goods excluding aircraft, which it refers to as the “biggest gain since September 2004” according to Wall Street estimates compiled by Bloomberg.
With this renewed economic vitality, we’ve also noticed our clients are regaining their confidence. After being put through the ringer that was the recession, businesses have a new attitude towards fiscal responsibility. They’ve become stronger—and are now poised to take advantage of a healthier economy.
With a growing economy comes new opportunities for growth; it’s important to be ready. Think of it as preparing all systems for launch. (That’s an exhilarating thought, right?) Now is the time to carefully consider strategic plans, review merger and acquisition opportunities, and analyze tax strategy.
By taking care to align your business practices, you can make sure you’re poised to grow, too.
Erik Leagjeld, CPA, is AEM’s Business Segment Leader. He enjoys helping others find success—especially on the hunting field or fishing boat. You can reach Erik at 507.304.6827 or at email@example.com.