With upward pressure on prices across many sectors of the economy, being able to effectively manage your cash flow is more important than ever.
Cashflow can sometimes hinder a business’ ability to update their equipment – that’s where we can help… by financing equipment purchases.
While many businesses might wait until the end of the financial year to purchase new equipment, the flexibility of equipment financing lets you get the equipment when it’s needed.
Here are some other benefits of equipment financing:
Many lenders offer flexible financing solutions – including leases – that can be tailored to suit your business needs. This means they can work around your specific tax and accounting requirements, ultimately boosting your cash flow.
By financing your equipment, rather than spending cash from your business, you can free up funds for other areas of the business. It also helps reduce risk in the event the new equipment doesn’t produce an immediate cash boost to your business.
By understanding where your money is being spent and having a clear budget in place, your business will be better positioned to grow. Large fluctuations in spending can cause stifled growth and financing enables you to smooth those expenses over many years.
Most businesses face the ups and downs of the business cycle. This is particularly pronounced in sectors like construction which are heavily linked to the property market. Having flexible arrangements, such as leases, will help allow for seasonal fluctuations, helping to level the monthly expenditure. You may even have lower monthly repayments overall, as well as the benefit of the equipment increasing your revenue.
By having the very latest technology, you are giving your business a competitive edge and also making it more efficient. With financing, you’re able to purchase better, more reliable equipment that otherwise might have been financially out of reach.
If you would like to find out if equipment finance could help your business, , please feel free to call George on 0411 216 849.
If you would like to purchase any asset, such as a caravan or car, commercial premises or equipment, refinancing or purchasing a property, the best place to start is to contact us for advice. We are only an email or phone call away, on 02 8004 2222 or book an appointment.
Although we are located in Crows Nest, we service clients from St Leonards, Artarmon, Wollstonecraft, Cammeray, Northbridge, Naremburn, Neutral Bay, Greenwich, North Sydney, Waverton to Willoughby and all areas of Greater Sydney.
PS This article is prepared based on general information. It does not take into account individual financial or property objectives or needs and is not financial product or investment advice.