The Rea Report Spring 2015

Volume 15 | Issue 2 | Spring 2015 www.facebook.com/ReaCPA www.twitter.com/OhioCPA www.twitter.com/ReaCPA bit.ly/rea_linkedin (LinkedIn) plus.google.com/+Reacpa (Google+) www.deardrebit.com (blog) 2 Is Your Business Batting A Thousand? Why You Need A Banker On Your Team 3 Infographic: 10 Steps To A Healthy Business 4 6 Know & Grow: Why Knowing Your Cash Flow Is Key To Growing Business Value Bright Client: Employers Health Helping Employers Keep Happy, Healthy Employees 7  Bright People Rea’s Employee Highlights 8 Small Business Corner: Making A Great Catch Tips for Good Hiring 10 Designing Wisely Retirement Plans Aren’t ‘One Size Fits All’ 12 Investing In Your Business’s Immortality Hint: You Can’t Do It Alone REGUL TION RO DBLOCK Manufacturing Industry Leaders Call For Regulation Reform H ave you ever wondered what goes into the cost of manufacturing a product in America? Material and labor costs factor into the price of a product. And so do transportation and marketing costs. But did you know that American manufacturers must also manage costs associated with compliance to increased regulations and government mandates? Unlike their overseas counterparts, American manufacturing companies are subjected to a variety of regulation roadblocks and, in the interest of making money, have to charge a little bit more for products that are “Made in the USA.” Our economy is directly influenced by the success of the manufacturing industry, yet obstacles continue to clutter the road toward efficiency and growth. While many observers expect to see a boom in job creation and revenue generation, some Ohio-based manufacturers predict that increased regulation, fewer qualified employees and continued confusion around the Affordable Care Act (ACA) may hinder their growth rate. “There’s a wave of manufacturing coming,” said Randy Bennett, president and CEO of Automation Tool & Die, Inc. (ATD) in Brunswick, Ohio. “But we won’t be ready for it if we have to focus on what’s going on in the courts instead of what’s going on in our companies.” Wanted: A Common Sense Solution “When legislators implement laws, they don’t always understand how they will impact individual businesses or industries,” said Lee Beall, CPA, Rea’s CEO. “Yet, if Ohio wants to keep and attract businesses to the state, it needs to uncover these laws and fix them.” continued on page 11