Julie Murphy
Articles by Julie Murphy
Why You Should Have a Secondary Financial Partner
Building a relationship with a secondary financial partner keeps your business in a healthy financial position should your primary partner discontinue your relationship.
Preparing for Disruption to Ensure Long-term Success
Disruption, good or bad, is a factor when conducting business. Ensure your shop is financially prepared to deal with the challenges and the opportunities.
Alternatives to Small Business Loans
Find the best financing options for your small business.
Funding Your Company’s Digital Transformation
To realize the full potential of implementing digital initiatives within your operation, consider what type of impact these initiatives can have, and how you can monetize the changes. In some cases, the monetization is simply reducing costs.
Do Your Homework to Realize the Advantages of Used Equipment
Shipment delays and supply chain bottlenecks can prevent new machinery from being delivered on time, as an example, and imped efficient production and opportunities for growth. One option is to purchase used equipment, which is readily available and less expensive.
Equipment Lease Versus Loan: Which Is Right for Your Shop?
Many machine shop owners are planning to make capital investments within the next year, which includes machinery. There are a few questions you should consult with your lender when dceciding if it’s better to lease or take out a loan.
Financing for the Next Stage
Machine shops must invest in technology to compete; however, cutting-edge technologies become obsolete sooner, and with a low demand on the secondary market, lenders are reluctant to finance your growth plans. Thankfully, there are a variety of financing mechanisms to consider.
Four Business-Management Best Practices the Pandemic Taught Metal Manufacturers
Last year’s unprecedented economic and supply chain challenges underscored gaps in commonsense contingency planning. Manufacturers that take heed of these lessons learned will be better prepared for whatever crisis may arise.
What You Need to Do to Increase Your Chances of Getting an Equipment Loan
A financing relationship is a two-way street. Make potential lending partners comfortable supporting your company’s growth by being able to clearly and concisely explain how a piece of machinery – or machines – will improve productivity and profitability.
What You Should Know About Section 179 and Bonus Depreciation
With interest rates at an all-time low, the idea of buying new equipment is tempting. In addition, purchasing new equipment can also help you reduce your company’s potential tax burden for tax year 2020.
