In tough economic times, focussing on your core business, maintaining a sound balance sheet and improving cash flow and working capital are key priorities.
But for those who continue to invest in long term growth through product innovation and development of new markets both in the UK and overseas, particularly outside the Eurozone, there continue to be opportunities to increase both sales and profit.
In a recent report from the Economist Intelligence Unit looking at the global outlook for manufacturing, several key themes emerge.
- Focus on bottom line, not top line growth as the priority, exiting unprofitable product lines or geographic markets
- Innovation in both products and processes aimed at enhancing product range whilst cutting costs and collaborating across the supply chain
- Nearshoring – shortening the distance between manufacturing facilities and end markets, allowing localisation of products, with increased speed agility and accuracy of supply
- Increasing supply of value added, higher margin services such as maintenance, performance optimisation and product life cycle management
Can we help?
- We can work with you to review your profitability by product line and geographic market
- Forecasting sales projections, “what if” scenarios to analyse cost cutting proposals
- We can review your R & D plans, in particular we can look at your R&D tax reliefs
- Cash flow – practical advice on budgeting & forecasting, invoicing, cash collection, financing options, tax payments cost reduction and a focus on higher margin sales opportunities