It may be a bear market, but this is no time to hibernate. If you want to weather the pending economic winter, you can’t afford to crawl into a cave and wait for better times. This is a time when the old saying, “You snooze, you loose,” rings true. Competition gets more cutthroat when times are tough and only the smart survive. Everyone’s going to be reining in expenses to maximize their cash flow, and many will limp along with out-dated equipment or technology, afraid to make any capital investments until the economy eases up. Savvy businesspeople know this is faulty thinking. Even in a poor economy, certain capital investments not only make sense, but give you a critical edge over your competition.
What kinds of capital investments make sense? Industry experts say capital expenditures that give you both immediate and future value should get top priority.
- Equipment and technology that make and keep you competitive are essential, especially in a tough economy. You can’t afford to lag behind competitors or you’ll be left choking in their dust. As U.S. industry moves ever closer to integrated automation, you’ll need to embrace state-of-the-art technology and equipment to remain competitive.
- Equipment that decreases your fuel expenses will become increasingly valuable as oil production continues to drive world economy. Battery and electric-powered equipment not only produces immediate savings in fuel expenses, but decreases future dependence on fossil fuels.
- Businesses shouldn’t overlook the powerful message that energy efficiency sends to customers: that you care about the environment and the planet we live on. As global warming heats up, more businesses will be choosing environmentally-friendly partners over energy-wasting ones.
- Ergonomic equipment that improves worker safety and significantly decreases medical, insurance and workers’ compensation expenses will gain even greater importance as healthcare costs rise. Both presidential candidates are furthering healthcare platforms that will force U.S. businesses to shoulder an even greater burden of our country’s healthcare costs. Equipment that decreases the direct and peripheral medical costs of worker injury will benefit your bottom line.
- As the U.S. workforce shrinks, ergonomic equipment will play an important role in maintaining worker satisfaction as well as safety. As competition for workers increases, businesses will need to offer workers more tangible job benefits. Use of ergonomic equipment shows your workers you care about their health, safety and comfort on the job. And it has the added benefit of making your operation more efficient and more productive.
- Ergonomically-designed equipment that allows a single worker to accomplish a greater volume of work safely will also reap savings in a shrinking workforce. With presidential candidates promising to penalize businesses for taking jobs overseas, the ability to maximize productivity with a minimal American workforce will gain importance.