Are You Worried About Inflation and Surging Costs?
Rising prices have significantly impacted everyone and every business over the past 12 months.
Fuel, transportation, parts, equipment… prices are rising in every sector. Here are several questions to ask yourself or your management team about your business:
- Have supply chain issues hindered your growth?
- Have cost increases made it prohibitive to provide a competitive price to consumers?
- Have the labor shortage and increased labor cost affected how you provide your usual level of customer service?
- Are rising rates making borrowing unattractive? All these and many more can certainly hinder bottom line for your business.
So, what is your strategic plan for the remainder of 2022 and into 2023?
- Does your working capital line of credit account for your increasing inventory cost and aging receivables?
- Where will your current real estate loans re-price in the next 2 years?
- How far out will you need to order equipment and pay for it?
- Will you get a fair rate of return on savings?
Now is the time to meet with one of our highly experienced bankers to talk through your concerns and planning for your continued success. Contact us today.