Could increased cash flow help your business grow? SCMEP can help!
SCMEP is pleased to offer a variety of new services to help manufacturers reduce their operating expense. Our cost analysis experts estimate that most businesses overspend by 20% or more on non-core costs.
At no charge, SCMEP will perform a business assessment to identify areas we can help you save money. After the business review is complete, we provide expert resources to help you save. Click on the links below to learn more about specific areas where we can help you save.
- R & D Tax Credits – If your company has implemented process improvements during the past three years, you may qualify for a tax credit
- Group Health Insurance - SCMEP recently helped a client save over $140K on their group health insurance plan while offering the same benefits!
- Individual Health Insurance – Less than 50 employees? Avoid paying high prices for COBRA and other expense providers.
- Worker’s Comp, Utilities, Taxes – Learn how SCMEP can help you recover all of these costs
- Overhead Costs - SCMEP’s expert consultants help negotiate better pricing for all parts of your overhead providing a significant savings in the future.
R & D Tax Credits
The US government awards over $7.5 Billion in federal R&D Tax Credits each year with more than 20% going to small to medium sized businesses. However, 42% of all manufacturers are not utilizing the credit (according to a leading manufacturing and wholesale/distribution survey). Congress originally enacted the R & D tax credit in 1982 to promote innovation.
If your company has implemented process improvements during the past three years, you may qualify. SCMEP’s third party resources have helped customers get back thousands of tax dollars, typically in less than 90-days.
Who qualifies for the tax credit?
- Manufacturers with an annual payroll of $1 million or greater (i.e., 50 employees @ $20,000 each = $1 million);
- Companies that have paid income tax in the past three years; and,
- Manufacturers that have implemented Lean, Six Sigma, ISO 9001:2000, AS 9100, process improvements or new machines.
- Other activities that may qualify; creating improved products, processes, formulas, or techniques, manufacturing new products, automation, cost reduction initiatives, developing prototypes, designing tools, jigs, fixtures, applying for patents, testing new concepts, new equipment, hiring outside consultants for the above activities
If you would like to learn more, simply click here and SCMEP agent will contact you to follow-up.
Group Health Insurance
In today’s difficult economy, companies are under pressure to find efficiencies in every area of their business in order to maximize profitability. The human resources function is no exception. Group health insurance represents either the second or third highest fixed cost after payroll for most businesses. If your company has 50 or more employees, click here to learn how you can save.
Individual Health Insurance
Individual Health Insurance is also available for companies with less than 50 employees. If you would like to apply, please click here.
Worker’s Comp, Utilities, Taxes
If you can answer, "yes" to any of the questions below, SCMEP can reduce your expenses up to 20% and possibly even recover some of these costs.
- Are you spending over $3,000 a month on combined telecom or utility bills?
- Do you spend $50,000 a year on worker's comp insurance?
- Do you spend over $40,000 a year on property tax?
If you would like to learn more, simply click here and SCMEP agent will contact you.
Overhead Reduction
Even after a business has performed its own cost reduction initiatives, we can still help reduce your non-core costs even more. Our consultants are experts in procurement processes and have helped saved businesses in excess of $1.7 Billion. We know the industry and market value for overhead costs. Below are just a few categories that we can help you reduce expense.
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If you would like to learn more, simply click here and SCMEP agent will contact you.
