Starting a business is one of the most exciting-yet-challenging periods of any entrepreneur’s life. In fact, it’s safe to say the only two things it fails to compare with are having a child and buying your first home!
Therefore, it’s absolutely imperative that you have the funds to have everything you need when you open the doors and the customers come rushing in – equipment included.
Say you’re opening a hip new fried chicken shop somewhere in, let’s say, Fitzroy or Newtown, the last thing you would want is to find yourself without a deep fryer on opening day.
This is where top equipment finance comes into the play – but it doesn’t end there, oh no no, as there are many key benefits to enlisting this valuable service.
Let’s take a look at them below:
- You can get the goods you need right now
You won’t have to wait months, or worse, years, to receive the goods you need to run the business efficiently – you can get them right now! This means you can boost your revenue through the use of efficient goods as opposed to using old outdated machinery that is prone to breaking down.
What’s more, it protects you against inflation, as you can buy the goods you need now at a lower price, instead of buying them when those damn prices continue to rise like what we have seen for the past few months…
- Take the competitive advantage
Whilst your competitors may be stuck behind using old, outdated goods, you can be ahead of the curb with some of the advanced goods in the building industry. Therefore, you will always be holding a competitive advantage and can therefore run the local industry game.
- Reduce the risk of capital expenditure
Many businesses experience cash flow shortage, and you don’t want to find yourself in a situation where you need to buy something new but have to spend your capital on it. However, with equipment finance, you can purchase the goods you need without having to worry about how much capital you spend on them!
- It provides significant tax advantages
Many payments can be deducted when the taxman comes a knockin’. The interest you end up paying on the financing payments can then become tax-deductible – this is even more so for equipment leases, as this can provide businesses with massive write-off benefits.
- Organise a payback plan that matches your income
Many providers allow you to create a customised payback plan that provides you with greater flexibility when it comes to paying back the money you borrowed. This also means you can create a payback schedule that matches your revenue streams.
- Keep your goods up-to-date
It can be difficult to purchase updated goods, especially when certain items can be very expensive. But with equipment finance, you can ensure that you are using the very best goods whenever they just arrive on the market, with ample time to pay back the loan you received for them.
It’s just a great option for business owners
As you can see, this loan option comes with a huge health of benefits that make it ideal for business owners. If you’re looking for the funding you need to get your business off the ground in real time, then this is a great way to ensure it happens.
You won’t have to worry about receiving the funding you need to buy what you need now, as well as forgetting about spending that vital capital on goods that can quickly take your business to new heights – it’s a winning situation, for sure.