Industry Today Volume 22 Issue 1

million, so their optimism may be due, in part, to their smaller size. Larger corporations could be more vulnerable to a global downturn. And while there is a sense that manufac- turing still has room for expansion, it’s tem- pered by concern that any one major event from Washington could change this outlook overnight. Already, in the first quarter of 2019, CEO’s and CFO’s are openly discussing reduced hiring and capital expenditures for expansion in wake of uncertainties. Tax reform implications will bring new chang- es as well, so there will be a stronger need for dramatically different tax planning and com- pliance. Through all the potential changes, working with a team of industry-experienced advisors to provide insight and answers contin- ues to be important. Although the challenge of gaining a compet- itive advantage remains critically important, I believe the resilience and success our manufac- turing clients have created for themselves will help alleviate the major concerns for 2019. Click here to download the full report INDUSTRY TODAY 31 FEATURE - LBMC ABOUT THE AUTHOR John Mark McDougal, CPA, is Shareholder-in-charge for the accounting and assurance services and lead share- holder in the manufacturing/distribution industry at LBMC. He can be reached at jmcdougal@lbmc.com or 615-309-2474.

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