INTENTIONAL GROWTH IN A SHIFTING ECONOMY

As a new quarter comes into focus, inflation remains a key concern, especially among small business owners. This factor has been with us for quite a while and has people understandably wondering when it will finally be the “right time” to pursue their growth goals.

How the SBA fuels small business resilience
Now may seem like the time to rein in spending, but certain strategic investments will pay off, now and in the long run. Buying commercial real estate for your company instead of leasing is a prime example. As the proverbial belt gets tightened, some building owners will raise rates, leaving occupants with increasing monthly costs they had not planned for. Acquiring property removes that x factor from the equation and is more “doable” than many business owners realize. SBA 504 financing is designed to maximize your investment with fixed, low rates and low down payments. This means you preserve your working capital and fix your occupancy costs while you build equity through real estate ownership.

SBA 504 financing can also be used to purchase heavy equipment, an investment that can improve your company’s efficiency or significantly increase production…or both. A specialty foods client of ours added a third production line, which created more jobs in the community and boosted their company’s output by 60%. Several of our clients have invested in solar for their facilities, which significantly reduces their monthly utility bills and their carbon footprint. Manufacturing companies with NAICS Code 31-33 have an extra advantage, as they can still leverage the SBA’s program that waives the upfront fee and annual service fees for manufacturers.

Now is also the time to double down on your company’s core values and purpose. Maintaining high levels of product quality, care for employees, impeccable customer service, and a steady presence in your community are investments that will always have a high return.

Inflation may continue to fuel uncertainty, but that uncertainty doesn’t have to bring you to a standstill. Intentional growth starts with a clear plan and a thorough understanding of your options. From this place you can make and act on informed, confident decisions and investments that will support the future you want to build for your business.