In recent years, Airwood Flooring Accessories has confronted various financial hurdles such as escalating labor expenses, competition from imported goods, surges in raw material prices, and increased energy costs. Carmi Mooser, co-owner of the Niagara Falls-based business, emphasizes the difficulty of absorbing these costs internally without passing them on to customers, which ultimately impacts the company’s profit margin. To tackle these challenges, Airwood is actively examining its internal processes to identify efficiencies.
Specializing in the production of high-quality Canadian-made products, Airwood strives to be both fair and competitive as employers while ambitiously and sustainably growing their business. However, achieving these goals is challenging within an economy that exerts pressure on small- and medium-sized enterprises.
Carmi Mooser notes the constant and sometimes volatile nature of the rising costs, echoing the sentiments of many businesses grappling with similar issues. Airwood’s predicament is not unique, as a 2023 survey of over 1,200 entrepreneurs revealed that 66% experienced larger-than-expected cost increases in the past year. Additionally, 64% of entrepreneurs reported that these cost increases had a negative impact on their businesses.
Learn more here: https://www.bdc.ca/en/articles-tools/operations/operational-efficiency/looking-internal-efficiencies-keys-to-molding-company-success
