TO GIVE YOU INSIGHT INTO WHAT’S GOING ON ACROSS A RANGE OF SECTORS, we asked three local executives to answer a pertinent business question from the viewpoint of their respective industries. Their replies provide a snapshot of the current business landscape in our area.
Mike Regina, president, Big Sky Construction
There are many obstacles in the construction industry, but one that sticks out the most is the constant increase of costs associated with labor and material. When we meet with potential clients, there is an educational process required to help them understand that the numbers today are much different than they were eight to 10 years ago. In order to address these costs, we work diligently to value engineer and to find creative ways to reduce cost without compromising form or function.
Ellen M. McDowell, Esq., managing shareholder, McDowell Law, PC
Dealing with technology is a challenge that constantly taxes our resources. Since communications have become more technology-driven, we are expected to react instantaneously, and with hundreds of communications coming in every day, some can get lost in the shuffle. This is especially true if we are in court and cannot monitor our smart phones or other devices continually. To deal with this we have put safeguards in place to be certain we don’t miss a beat. While the ever-changing world of technology is still a challenge, I can safely say that our door is always open for our clients.
Daniel J. Ruotolo, CPA, MS, managing partner, Ruotolo, Spewak & Co.
It would have to be the sweeping 2018 tax law changes and I’d say it’s more of a challenge than obstacle. Due to the extraordinarily quick nature of writing and approving the bill, there is little detail regarding the regulations and interpretations of the new law. We are now faced with learning and understanding how these changes and the future regulations will impact both our individual and business clients. Yet, as with any change, it can also bring opportunities and we just need to find them.
Published (and copyrighted) in South Jersey Biz, Volume 8, Issue 2 (February 2018).