2021 has without doubt been a challenge and an extremely stressful time for individuals and especially business owners. So as the pandemic crisis eases across the country with a return to some semblance of normal, it may be tempting to give yourself and your business some ‘time out’ for personal recovery from the stress this holiday season. But before you yield to temptation, Jade Finance asks is your business set to sustain the holiday season and if not, we offer business finance at cheap interest rates to support business prepare for the boom ahead.
There are a raft of data-driven and expert-forecast reasons to expect that 2022 will be a positive growth year for many industries, especially building and construction. Outlooks which may be taken as the sign required by businesses to get set and ready NOW to take on the opportunities ahead.
Going into a period of expected growth with machinery and equipment that is not up to the task can seriously hamper efforts to win contracts and tenders, increase operating costs with annoying repairs and maintenance expenses and impact productivity and profitability.
Taking advantage of the current finance environment and mindful of global impacts on machinery and equipment stock present a positive scenario for moving on equipment investments at this point in time. Investments which will enable your business to start 2022 ready to work and capture your slice of the expected growth in the economy.
Holiday Season Prelude to Forecast Boom
After several quarters of negative GDP figures as a result primarily of the extended lockdowns in NSW and Victoria, a far more positive period is expected ahead. The economic is showing real signs of recovery with the RBA expecting it to bounce back strongly. Though the RBA Governor, Philip Lowe tempers optimism with mention of the unpredictable nature of the pandemic threat.
A leading industry voice, the ACIF, is forecasting a 2022 boom concurrently in both the housing and the infrastructure construction sectors.
Consumer spending going into Christmas is up, reflecting the good balance sheet position of many households following extended times in lockdown.
Reasons to Re-equip Now!
So why should you buy the equipment and machinery right now? Why not wait a while and see how the situation in your business sector plays out in the first quarter 2022?
We offer you some solid reasons why buying now could be a very good decision:-
- Global supply chain issues have been hampering supplies of machinery and materials into the Australian market for some time and that is expected to continue. The computer chip shortage, pandemic and shipping costs and delays are combining to create a perfect negative storm in the supply chain of many different types of equipment and components.
- A fourth wave of the pandemic has hit Europe and how that could play out in terms of materials, equipment and machinery stocks arriving in Australia is to be watched closely. If the equipment you are looking to buy is locally made, the supplier or manufacturer could require components from overseas.
- Buying equipment and machinery from current dealer stock may offer the best chance to secure what you need to support your business into 2022.
- Low lending interest rates continue in the Australian market. The RBA is standing fast on their prediction that a rate rise won’t occur until 2024 but some banks have already moved to increase their rates on home mortgages.
Take advantage of these conditions and possible impending threats, as well as a possible wind-down in your area to focus on the needs of your business moving into 2022.
Equipment and Vehicle Finance
Businesses seeking to upgrade vehicles and equipment can easily review our portfolio of finance products and compare interest rates across the loan types, which do vary. The interest rates can vary for motor vehicles, trucks and machinery loans but we have provided details on each category to make estimating repayments quick and easy.
With temporary full expensing still on the agenda through to 2023, Chattel Mortgage remains a very popular choice of finance. This is considered most suitable to accelerated asset depreciation measures and as an added incentive, this type of finance attracts the lowest interest rate in business asset finance.
General Business Finance Support
As government pandemic support for businesses is wound back, some operators may experience challenges with cash flow over the holiday season. This may be further impacted by costs and wage increases.
To support business in these areas, cost-effective, low interest Lender Overdrafts and both Secured and Unsecured Business Loans are available. These types of finance are suited to tide businesses over through cash flow shortage periods and to acquire goods and services not covered by asset finance.
Ensure your business is set-up to sustain the holiday season and well-prepared to capture the opportunities expected in 2022 with cost-effective finance support through Jade Finance.
Contact Jade Finance by phone 1300 000 008 to discuss cost-effective finance to support your business.
DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.