Owing to its scope of activities and the number of jobs it generates, the manufacturing sector is a pillar of the Québec economy. In this era of globalization, companies in this sector must curb their production costs in order to hang onto their economic gains and remain competitive. They must constantly work on automating assembly lines and innovating their manufacturing processes, despite the investment this incurs.
In order to maximize its return on investment, companies should scrutinize their acquisition costs and adopt strategies to curtail production costs.
Buying equipment to keep up with manufacturing processes often requires substantial capital. Funding for this must be properly planned out so that payments are balanced over the short and medium term, and so that profitability is not jeopardized. Many projects also call for hefty investments in research and development before they can see the light of day. The projects need to be structured so that the company can take advantage of all applicable tax credits. In this way, businesses can streamline expenditures and stay competitive both on the local and international markets.
Finally, manufacturers must devise an arrangement to guarantee the payment of goods shipped abroad.
The FBBL Approach
Our Assurance and Accounting and Valuation and Business Succession teams will coach you on the day-to-day management of your operations. With their extensive knowledge of the manufacturing industry, they are trained to help you pinpoint weaknesses while proposing strategies aimed at curbing costs to boost your company’s profitability. As an FBBL client, you can also count on our expertise in business succession, which will elevate your business to the next level and ensure its sustainability.
- Taxation services
- Business valuation
- Structuring for corporate succession