Article Written By: Clayton Arnold
How is your company’s asset recovery strategy coming? When it comes to selling metalworking equipment Maryland businesses find many benefits in the process but doing so in a fashion that maximizes your return on investment is vital to keeping your company operating successfully, especially in today’s shifting economy and digital transformation. To keep your business flexible and agile during these changes, it’s vital that your asset recovery strategy take advantage of all the right options in the market. Here’s a quick look at how you can use the sale of used metalworking equipment from your business to fund future growth for your Maryland business.
If you’re considering making a change in direction for your Maryland metalworking company, you’re not alone. With regular falls in the industry over time, manufacturing has slowed down significantly over the years, which is especially apparent in a report prepared by the Manufacturers’ Association of Maryland. Before the recession, it wasn’t uncommon to see a 3% drop in both the number of workers employed in and the number of firms in manufacturing over a single year. However, Maryland also has some of the highest-paid manufacturing sector, averaging about 27% higher pay than all other private-sector jobs in the state in 2006. This means the state tends to attract the most highly-skilled metalworkers who are looking for better positions to support their lifestyles and their families.
This concentration of highly-skilled labor in a shrinking industry creates a perfect storm for manufacturers who want to take advantage of the tariffs on foreign goods to begin producing higher-quality, higher-technology items in the US again. But how do you support this change to your business? By selling used metalworking equipment in Maryland! The sale of your used equipment provides you with significant equity that you can then use to finance a change in operations or an expansion of your existing operation, allowing you to grow your company without as much risk or investment.
If you’ve looked at the incentives available to metalworking and manufacturing businesses in Maryland these days, you know that you’re in a prime position to grow your company. There are numerous incentive zones for areas that are still performing poorly as the economy recovers, including large swaths of Baltimore and many more rural areas of the state. These include options for job creation tax credits and enterprise zone property tax credits if you’re operating or starting a business in that area. More Jobs for Marylanders, passed in 2017, provides you with tax credits for job creation, making it less expensive to hire some of those highly-skilled metalworkers mentioned above. Breaking into exciting new areas with your business? Research and development costs can now be written off. Adding jobs for an aerospace, electronics or defense contract? There’s a tax credit for that.
But what if you’re looking beyond simple tax credits? Though they can save you money on your annual returns, sometimes your business needs a solid shot in the arm to keep things moving. Fortunately, Maryland is in a great position to help you do this. As with many states, Maryland offers Community Development Block Grants to communities to provide funds for business development and loans. The Sunny Day fund program offers funding for businesses in areas of high unemployment who will provide significant levels of employment in the area. Considering international sales? ExportMD provides funding to help offset marketing costs for international programs. If your plan is to upgrade your existing manufacturing equipment or entering new economic markets, the Maryland Economic Adjustment Fund can provide funding for loans and grants for businesses that have a hard time finding funding otherwise. And of course, the Maryland Small Business Development Financing Authority provides a range of business loans, grants, guarantee services and similar options.
Here are a few examples of how selling your used metalworking equipment helps grow your company:
If all these reasons have convinced you that it’s a great idea to replace your aging metalworking machinery or simply sell excess machinery outright, you’re in a good position to get started. However, before you start the process, it’s important to go about the sale process intelligently. Here are a few things to consider before you list that piece of machinery for sale:
When it’s time to sell metalworking equipment Maryland companies turn to Aucto to get the job done. Why Aucto? We focus on bringing the speed and power of e-commerce to metalworking equipment liquidation. As a premier auction platform, we provide strong results through our online and onsite auction systems. Instead of being tied down to local or regional auctions, you can gain access to a global marketplace from your office or any location with an internet connection.
We provide THE place where industrial equipment sellers and buyers connect. Our selling process is always completely free while our buyers enjoy paying the lowest possible brokerage fees for purchases, making it popular for our tens of thousands of registered users. Our easy-to-use platform is simple but powerful, allowing you to monitor, track and analyze activity, historical data and wish lists. Why not take a few moments right now to set up an account? After deciding to sell metalworking equipment Maryland businesses see a huge boost in their asset recovery returns.
Have a question about buying used industrial equipment or selling used industrial equipment online? Give Aucto a call at 1 (844) 326-7339 or email at email@example.com, and our team of experienced online auctioneers and customer support team will be more than happy to answer them.
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