The end of the summer holidays marks the beginning of an important phase for businesses, as a time to gear up for the final sprint towards the end of the year. This transitional period is the perfect opportunity for you to assess what your company needs, plan strategically and make meaningful strides towards growth. One of the most effective ways to achieve this is through equipment finance, which allows you to acquire the essential equipment needed to fuel your business progress.
In this blog, we’ll explore the ins and out of equipment finance and how this option can benefit your business post-summer holidays.
Seize the post-holiday momentum
As the rush of the summer holidays fades away, business owners are presented with a unique opportunity to prepare for a strong charge towards the end of the year. This is a time to evaluate the position of the company, set new goals and lay down the foundation for achieving them. One of the best places to start is to ensure you have all the right tools, equipment, and machinery at your disposal.
What is equipment finance?
No matter what industry you are in, ensuring you have suitable equipment is key. Whether it’s upgrading your technology, modernising your production machinery, or boosting your customer service capabilities, having the latest and most advanced equipment can allow you to deliver higher-quality results.
However, acquiring state-of-the-art equipment can be a significant capital investment, which can pose a financial challenge for any business, especially SMEs.
That’s where equipment finance can help. Equipment financing enables companies to acquire the assets they need without having to pay a significant upfront cost. Instead of spending crucial cash on purchasing equipment outright, you can opt for asset finance, which allows you to spread the cost over an agreed period of time through management monthly or quarterly payments.
Not only does this preserve your valuable capital, but it also provides the financial flexibility you need to be able to confidently invest in the growth of your business.
What are the business benefits of equipment finance?
Aside from gaining instant access to the equipment you need to ensure steady business progress, there are many benefits to equipment finance. Equipment financing is designed to align with your business objectives, offering customisable solutions to suit your needs.
From flexible repayment terms to tax advantages, here are the 5 key benefits that can enhance your company’s financial health:
Preserving crucial capital
By gaining access to your assets through equipment finance, you can free up valuable capital that can be directed towards other business strategies, such as marketing campaigns or expansion plans.
Depending on the circumstance of your business, finance lease rentals are often tax-deductible against profits, which can help to further reduce the overall cost of acquiring equipment.
Improved cash flow management
Predictable, fixed payments make it easier to manage cash flow, enabling better budgeting and financial planning.
Leasing equipment protects you from investing cash into assets that depreciate and become outdated, as it allows you to upgrade to the latest models at the end of the lease term.
Fast and flexible
The approval process for asset finance through Shire Leasing can be far quicker and more straightforward than through traditional lenders, ensuring prompt access to the equipment you need.
Equipment finance from Shire Leasing
At Shire Leasing, we understand that from some businesses the end of the summer holidays signals a time for renewed focus and planning for the next quarter.
An effective way to ensure a strong charge towards year-end goals is through asset finance. If you have any questions about our financing options, don’t hesitate to get in touch with a member of our team today.