Australian manufacturing is evolving. Shifts include a move from manufacturing high volume and low value goods to high tech and high quality goods. This means companies suddenly need to meet substantial investment demands in research and development, or need to up-skill their workforce. In some areas there is a strong tendency towards automation to save costs and margins. This has a dramatic impact on labour costs.
Is your company operating with a financial and business strategy that will keep it resilient in the long run?
Consulting and turnkey delivery firms are trying to diversify their operations in an attempt to mitigate the risk of industry fluctuations. How well is your company managing, and how prepared is it to continue to adapt in the future? Calibre has helped a number of engineering and manufacturing businesses weather the impact of these shifts.
Businesses in this sector often have complex financial and accounting needs
How extensive is your Capex planning in light of future business, research and development requirements and the availability of small business tax breaks?
- How up-to-date and effective are your enterprise resource planning and management system implementations?
- How adept are you at increasing the real time visibility of margins per unit and improving the accuracy of your margin per product calculations?
- Does your tax planning take into account the increasing need for project based work, including contract accounting where the receipt of revenue and costs are not incurred at similar times?
- Can you access the lucrative R&D Tax Incentive? Do you know how to best document R&D versus business as usual activities?
Complexity, change, compliance – there is a way to see all this as an opportunity, not merely as a challenge.
We prepare and plan for stronger businesses
Our business advisors take the challenges facing this industry head on and plan for long-term development and growth, so you can have peace of mind and focus on your operations.
- We have a fully outsourced CFO function and team which can assist with analysing your product margins.
- We can evaluate potential software and keep you up-to-date with tech systems and manage their full implementation.
- We have expert tax accountants who help plan tax each year in light of fluctuating profits and losses.
- We can suggest a way forward with funding R&D and help train scientific staff on the best and most efficient ways to document R&D.
- We ensure you have the best processes in place to document your financial operations thoroughly.
Calibre believes in the value of the engineering and manufacturing sector in Australia. Contact our expert business advisors and tax accountants to better understand how your business can be more successful and profitable in this sector.