In the food manufacturing and distribution industry, cash flow challenges are all too familiar. Delayed payments from distributors, unexpected equipment breakdowns and seasonal demand shifts can create perfect storms that leave businesses struggling to meet all their obligations — including tax bills. When you owe back taxes but can’t afford to pay them, you may qualify for a special tax status known as currently not collectible (CNC). In a nutshell, if the… Read More
6 Secrets to Building a Food Business That Lasts
We’ve all heard the stats — nearly 50% of new businesses fail within the first five years. But when you have a clear vision and effective strategies to build customer relationships, you can set your food manufacturing or distribution business up for long-term success. Here are six traits of businesses that are built to stand the test of time: 1. Having a pulse on your industry. How well do you… Read More
Why Food Businesses Need Specialized Tax Expertise
Running a food manufacturing or distribution business means juggling production schedules, supply chain logistics, compliance certifications and customer relationships. But should you add tax expert to your already long list of responsibilities? While there’s no shortage of tax software options that promise to simplify the process of preparing your own returns, consider these three compelling reasons to leave your taxes to professionals who understand the food industry: The margin for… Read More
How Forward-thinking Food Businesses Plan their Cash Flow Strategy
Over the years, we’ve watched countless food industry clients struggle with the challenge of managing cash flow through seasonal fluctuations. Whether you’re ramping up production to meet spring demand or planning ahead for the summer season, understanding how to strategically manage your working capital can mean the difference between thriving and surviving. Know your numbers before the seasons shift Your working capital requirements surge during peak seasons as you build… Read More
Why Food Manufacturers & Distributors Need Competitive Intelligence
In the food manufacturing and distribution industry, the margins are tight and the competition is fierce. A competitor with faster delivery or better pricing can have a serious edge in the marketplace. Understanding why customers choose competitors over you is critical. Maybe they value certifications you don’t have? Perhaps they need smaller minimum quantities? If you want to strengthen your market position and make smarter strategic decisions, you need to… Read More
The Cybersecurity Gap in Food Manufacturing and Distribution
Cyberthreats are real, and the risks are growing. From ransomware attacks that shut down production lines to hackers bringing operations to a halt, cyberattacks on food manufacturers and distributors are no longer rare occurrences. Cybercriminals are always looking for ways to exploit your systems. And one contaminated batch, missed delivery or data breach can cost you valuable customers, time and resources, resulting in consequences that can ripple across your entire… Read More