Regardless of size or legacy, your business may face a crisis. It could be a natural disaster, data breach, workplace fatality or even publicized misinformation about your company. Responding swiftly with complete and accurate information and a plan of action will help you come out on top.

The electromechanical repair and service industry has evolved over decades by reacting to the various changes in the dynamic landscape. These changes are apparent in parallel with the development of evolving maintenance philosophies.

Merchants (sellers) have a decision to make when they set up their business regarding accepted forms of payment. All methods come with risks, but the goal is to mitigate that risk so it is easy to conduct business with customers (buyers). Learn from situations that other EASA members went through.

As leaders, we are responsible for developing those around us to maximize their performance and prepare them for larger roles within our organizations. This facet of management presents several challenges, not the least of which is a shortage of experienced technicians. While we have mostly focused on filling technical positions, we can make a similar case for acquiring management, sales and support talent.

An Association of Certified Fraud Examiners (ACFE) study in 2018 concluded that 30 percent of fraud cases occurred in small businesses, and 60 percent of those did not recover their losses. Those losses were in addition to the regular things that can affect productivity and profits, such as employee morale, brand image, reputation and unforeseen issues like global pandemics. Fraud in small businesses can have a more damaging effect because of smaller scales and profit margins.

Working Group (WG) 27 held a two-day meeting and reviewed comments from committee members on IEC 60079-7 (Ex “e”). The latest draft of IEC 60079-0 and its Annexes were reviewed. Since IEC 60079-14, selection, design and erection of fixed electrical installation was ongoing, the committee proposed the inclusion of an Annex relating to EMC and safety related aspects of converter installations.  

Raising capital or selling a business is time consuming and requires significant preparation well before the first potential financing partner or acquirer is contacted. This presentation provides insights on that preparing for that process.

Despite the economic downturn, there is an abundance of private capital and continuing long-term interest from financial and strategic acquirers in quality businesses. As part of this presentation, England & Co. will ask a panel of non-control and control investors and acquirers along with a well-known ESOP attorney to explain key aspects of their particular transaction focus and provide their views on how the current downturn is likely to impact overall levels of transaction activity.

Solid middle-market businesses are vulnerable to revenue surprises and market volatility as the impact of COVID-19 on the economy is currently demonstrating. While the long-term prospects of your business may not be materially impaired by temporary decreases in customer demand, delayed projects or supply chain disruptions, the earnings impact can potentially trigger a default under performance-linked financial covenants with a lender.

Employees need help getting through these uncertain and unprecedented times. While it’s our job to provide guidance and encouragement, who is guiding and encouraging us?