Utilizing Kaizen To Overcome Manufacturing Uncertainty And Change

Manufacturing is constantly facing new challenges, we are seeing very strong global competition, Industry 4.0 is transforming the industry, and we have millennials entering the workforce. Risks are evolving as well, constant economic uncertainty, and cyber security attacks are becoming a real threat to the industry. To remain competitive, manufactures cannot afford to proceed withContinue reading “Utilizing Kaizen To Overcome Manufacturing Uncertainty And Change”

What To Do If You Violate A Bank Covenant

At MCDA CCG our finance experts have over 80 years of client experience and inevitably, we have had clients that violated a bank covenant. Our advice is alway to be proactive and upfront and avoid having to be reactive. Bankers Hate Surprises Bankers are looking for clarity, certainty, and more importantly, communication! Their job isContinue reading “What To Do If You Violate A Bank Covenant”

Simple Ways To Save On Business Expenses

The costs associated with running a business seems to increase annually. As we are rapidly approaching 2021, without fail you will see everything getting more and more expensive. Rent, employee costs, travel expenses, all of it will likely increase. We have put together five simple ways in which you may be able to save aContinue reading “Simple Ways To Save On Business Expenses”

Dodging the Financial Death Spiral

You will often hear people in finance talk about the death spiral. Generally speaking, this typically would involve a loan from investors to a company, and the investors would receive a type of convertible debt in return for making the loan. This type of debt would give the loaning investors the option of exchanging thatContinue reading “Dodging the Financial Death Spiral”

Potential Snags With Mergers & Acquisitions

I have always been a fan of considering mergers & acquisitions (M&A) as a workable way to quickly scale your business.  However, this road is not foolproof by any means.  Let’s go over some of things that can go wrong, so do your research, consult a professional and plan accordingly. WRONG TEAM The skillsets yourContinue reading “Potential Snags With Mergers & Acquisitions”

Safeguard Your Business By Utilizing Cash Management Services

As you can see as a small business owner, technology has rapidly changed the way in which things get done. Customer’s are rarely using cash, having a mobile-friendly website is expected, and having some form of social media presence is pretty much a basic necessity now. With that being said, why haven’t we all fullyContinue reading “Safeguard Your Business By Utilizing Cash Management Services”

My Business Is Running Out of Cash…Now What?

Lets start by evaluating your current cash position… #1 How much cash do you have left? #2 Is the answer to question #1 enough to cover payroll expenses? If the answer is no… #3 When is the next payroll obligation? If the unfortunate answer to #2 was “no”, you need to immediately get a planContinue reading “My Business Is Running Out of Cash…Now What?”

Startups: Important Tips to Secure the Right Loan

Congratulations on having a great business idea! You are now starting a journey that will challenge you to make critical decisions for your business. You now find yourself needing to secure funding. You can accomplish this by pitching your idea to angel investors, investors, borrow from friends and family or seek commercial lending. Majority ofContinue reading “Startups: Important Tips to Secure the Right Loan”

How to Pay Back a PPP or EIDL Loan

If your business was fortunate enough to have received a Paycheck Protection Program (PPP) loan or an Economic Injury Disaster Loan (EIDL), you may have now decided that you want to pay it back for for any number of reasons: You didn’t fully understand the loan terms when you applied, You cannot use the PPPContinue reading “How to Pay Back a PPP or EIDL Loan”