Following a major expansion of their valves and controls business, Proconex, the exclusive Emerson Local Business Partner in the Mid-Atlantic region, has reinforced its valves & control devices portfolio, including a complete range of isolation valves and automated valve solutions.
Proconex offers both standard and customized solutions, regardless of the demand you have on a valve. As a single supplier, they can positively impact the timing and delivery-as well as provide an expanded range of services on-site.
A recent Philadelphia Chamber of Commerce event focused on the pros and cons of being in the middle. While those of you who are middle children may be subjected to taunts and stereotypes, middle market companies are in vogue. Why? They outperform F500’s and small companies alike, are attractive places to work, and are the lucrative targets of Private Equity firms, as well as those companies looking to grow by acquisition. It is truly a happy time for those in the middle.
Who comprises the Middle Market?
200,000 businesses representing 3% of all U.S. companies
Annual revenues ranging from $10M-$1B
5th largest global economy—larger than the entire country of Germany
Creator of 60% of all new jobs in the U.S.—over $1.1M jobs in 2013-2014
Q4 2017 by the numbers:
Revenue growth = 7.6% compared with 6.9% in the S&P 500
Employment growth = 5.2% compared with 1.4% for small businesses and 2.6% for large businesses
High confidence = 75% in the global economy, 86% in the national economy, and 88% in the local economy
Furthermore, according to Thomas Stewart, Executive Director, National Center for the Middle Market, middle market companies are more attractive than ever. Consumer middle marketers are considered niche, and therefore more interesting and socially responsible. They are successfully chipping away at the market share of name brand products. Think craft breweries, for instance. On the other side of business, B2B industrials are doing well because of their key roles in the supply chain, as connectors, to F500 companies who depend on them for products and services critical to our economy.
Among the top challenges of those in the middle are acquiring and retaining talent, competitive pressures, and the challenges of expanding internationally. Regarding capital investments, 69% plan to expand. While some of the panelists recommended international growth, others have grown primarily by acquisition and will continue to do so. Not surprisingly, workforce engagement is high on the priority list—whether through wage increases, training, or both. Overall, the middle marketers are not an impetuous group. They are not taking on new debt, are expanding capital expenditures judiciously, and keeping inventory levels steady.
We at Markitects are proud to have served middle market companies for over twenty years. For more information, contact us.
NCCPAP President, Stephen Mankowski, recently returned from the January 2018 NPL meeting. Highlights of this month’s meeting include the Passport Revocation Program, Practitioner Priority Service Faux Pas, and Quarterly Estimate Complications. Regarding the Passport Revocation Program, the PATH Act of 2015 grants the IRS authority to request the Department of State (DOS) revoke passports from individuals with a specific tax debt; the same act authorizes the IRS to utilize outside debt collectors. This program is for those who are seriously delinquent on their taxes-in excess of $50K (plus inflation).
NCCPAP’s Executive Vice President, Neil H. Fishman, CPA, CFE, FCPA, CAMS, recently presented some highlights of the new 2018 Tax Bill to an audience of business professionals at The Greater Boynton Beach Chamber of Commerce on January 10, 2018. He began his presentation with a brief history of the bill, called H.R.1, and how quickly it became law, and then discussed some highlights that apply to corporations and individuals.
Varco Pruden Buildings (VP) is a world leader in providing innovative pre-engineered steel building systems. Each year, VP supplies materials for approximately 6,000 buildings—ranging from 1,200 square feet to more than one million square feet. Today, VP welcomes Horst into its network of nearly 1,000 independent Authorized VP Builders across the United States and Canada, as well as throughout Central and South America, Europe, and Asia.
While Horst Construction considers themselves to be experts in constructing senior living facilities, they also participate in many discussions at the owner level, advising their clients about the best ways to attract new residents and make facilities as welcoming and useful as possible. For this article, Horst collaborated with interior designers, marketing teams, and other experts to share top senior living facility design trends for 2018.
Accounting Today recently interviewed NCCPAP President, Steve Mankowski, for the second time this year! With all of the drama surrounding tax reform, one almost forgets that tax season is upon us. Top issues covered in Steve’s interview conducted by Accounting Today editor-in-chief, Daniel Hood, include the Tax-Overhaul Bill and Cybersecurity. Steve’s most recent podcast is available via the link below.
Horst is proud to announce the completion of two of its major religious construction projects: ValleyPoint Church in Glen Mills, PA and State College Alliance Church in State College, PA. While each project that Horst undertakes is completely unique and personal, what these two places of worship have in common is their greatly expanded capacity to meet the needs of their growing congregations.
NCCPAP recently returned from the IRS National Public Liaison (NPL) November 2017 meeting.
Fewer NPL Stakeholders
NPL is the outreach department of the IRS, with the Stakeholders being those who go out and meet with groups around the country. Currently, the number of Stakeholders is down by 50% (to about 75-80 people), yet there are 550 practitioner groups and 100 payroll partners that the IRS meets with. To fill the gap, the IRS is starting to hold virtual meetings, via teleconferences, as opposed to in person. It was suggested that they hold more meetings, where they invite the group’s representatives to meet with the IRS, and then allow the groups to disseminate information to their members.
Other key topics include: Audit Under Review, Public Trust & Employee Safety Initiative, Authentication Update, and Legislative Affairs.
While Horst does their best to ensure that challenges are discussed and addressed up front, there are always lessons to be learned from their generations of experience working on hundreds of projects.
1. You WILL encounter problems during the process.
Problems inevitably arise during any construction project—no project is completely free from issues. That’s why we address the snags as they occur and share best practices among our PMs to avoid future difficulties.
2. Prepare for the land development approval process.
Land development is a lengthy and difficult process, so it’s best to be well informed and temper your expectations. Become familiar with your municipality’s amendments, and which parties are required to review different aspects of your project.
