As a business owner and manager, you know what it’s like to frequently find yourself micromanaging your business. You work on the forecasts, budgets, marketing materials, do the additional hiring and even new hire training. But how much effort are you putting in to coming up with ideas to strategically grow?
As the leader of your business, you are responsible for setting goals and thinking about the future of your company. The one person in your company who is the most motivated to grow your business is you. So every minute you spend working on tasks that can be delegated is another minute that you are not planning, strategizing or growing your business.
Somerset as Your Growth Partner
Somerset can assist you with working ON your business rather than IN your business. We can help your management team consider ideas such as state and local tax incentives and tax abatement analysis.
Most states and local jurisdictions are offering tax credits, training grants and incentives to encourage economic development. Somerset can assist you with an Incentive Analysis if you incorporate the following information into a 5-Year Company Forecast:
- Land/building/equipment purchases
- Machinery/tools/technology costs
- Number of additional employees needed
- Average hourly wage for new hires
- Projected training costs for new and existing employees
In 2018 alone, Somerset’s tax incentives experts assisted 7 clients secure $5,580,000 in state tax credits and training grants. These rewards are a result of working ON a business rather than IN the daily troubles of a business.
It’s possible that your business is eligible for these types of credits and grants, so if your company is considering relocating, expanding facilities or hiring several new employees, call your Somerset advisor today!
