Apparel and Textile
No matter what size they are, from small manufacturers with less than fifty employees to larger organizations, the apparel and textiles companies served by The Resnick Druckman Group are facing many similar issues. The low cost of manufacturing abroad has led to the U.S. importing more than manufacturing - with the largest number of imported goods being from China, Mexico and Hong Kong, with China dominating the scene.
Apparel manufacturers have always experienced a cyclical financial landscape brought on by the seasonality of the industry, but coupled with tariffs, trade regulations and low profitability, there has been increased interest from them in consolidation and outsourcing in order for businesses to remain profitable.
At The Resnick Druckman Group, we help business owners in the apparel and textile sector as they deal with the continued threat from foreign competitors. We keep our clients informed of key resources available to them so that they can make informed decisions regarding a range of concerns, such as:
- Financing and factoring
- Tax strategies, including Research and Development (R&D) Credits
- Dealing with quotas and trade regulations
- Being involved in a merger or acquisition
The apparel market not only has unique challenges, they also have distinctive needs. After having served this market for many decades, we understand the trends and we provide the services that enable our clients to take full advantage of every opportunity. Our services for the apparel and textile market include:
- Accounting and audit
- Business advisory consulting and strategic plannings
- International business consulting
- Tax strategies, including the use of R&D tax credits
Rather than tell you how helpful we can be, here is what an apparel client related to us regarding his experience with our firm:
"We work closely with our accountant, Joseph Ferrone, at The Resnick Druckman Group. He prepares our annual reviewed financial statements and also provides us with tax services that include our corporate and individual tax planning and compliance. Joe has been instrumental in helping us manage our company as effectively and profitably as possible."
*The Resnick Druckman Group LLC and Resnick Druckman & Hill LLP have an alternative practice structure. Though separate and independent legal entities, the two firms work together to serve clients' business needs. The Resnick Druckman Group LLC is not a licensed CPA firm.
