Is your business ready to capitalise on opportunities that may come your way in 2023? The past few years has shown us that businesses need to be prepared for pretty much anything – the good and the challenging. The challenging has dominated of late but better conditions with improved opportunities may be on the horizon. Being ready to capture those opportunities, many businesses may need to invest in new plant, machinery and equipment or require commercial finance to implement development plans.
Cost-effective commercial finance and affordable asset acquisition finance is available through Jade Finance to assist business be prepared for opportunities and overcome challenges. Often it can be the ease of sourcing affordable finance, the flexibility of being able to negotiate on interest rates and access to expertise to individually structure the loan that can make a significant difference to the prospects for an enterprise.
With affordable finance available, it could be time to consider what your business may achieve with new equipment or with suitable commercial finance support.
Invest to Grow
Expecting ‘things’ to change in the business without making efforts and being proactive may be a little over-optimistic. By being proactive and making that investment in new equipment or machinery or even a new office fit-out, can reap benefits in many ways.
A major issue facing businesses is the labour situation with Australia facing the lowest unemployment rates in decades. Why not consider how new equipment could lift productivity with the same number of staff and address those shortages in the roster. In landscaping, earthmoving and construction for example, investing in excavation machinery with the capacity to move larger loads may deliver the productivity improvement.
New models of most equipment include the latest tech to achieve increased efficiency. Fuel costs are hitting many business hard so why not consider more fuel-efficient machinery or updating to EVs. The money saved on fuel could be better invested in the motor vehicle finance.
The same applies to machinery which is beyond its best days and is costing hand over fist in repairs and maintenance and not to mention the downtime. Investing in new models may eliminate those costs and the savings be allocated to the equipment finance repayments.
Is your business in a position to take on new contracts or expand into new markets? If there is hesitation with the response then possibly the answer is probably mmm maybe or maybe not. Our cheaper interest rate equipment finance may make the possibility of re-tooling or refitting the operation a reality.
Investing in new plant, machinery and equipment or possibly new technology to bring the business up to truly meeting competitors on par, can be a realistic option with affordable asset finance. But of course, that finance must be affordable and be especially structured to exactly work with the business cash flow and budgets.
Commercial Finance Options
The options for asset finance include Chattel Mortgage, Leasing, Commercial Hire Purchase and Rent to Own. These loan products suit the acquisition of a wide range of machinery and equipment used in business as well as trucks, heavy vehicles and work vehicles. A particular attraction to acquire new assets at the moment is the availability of temporary full expensing.
This very attractive tax measure allows for the full purchase price of eligible assets acquired with suitable finance to be deducted in the year of purchase. That means a much larger deduction that would be realised under the usual depreciation schedules. But the measure expires at the end of the financial year.
Support is also available through a range of targeted commercial finance products including:-
- Business Overdraft
- Insurance Premium Funding
- Debtor Invoice Finance
- Secured and Unsecured Business Loans
Your Jade consultant will assist in advising which finance product will best suit the business requirements.
Interest rates are of course top of mind for everyone considering any form of finance. The RBA has undertaken quite significant hikes in the cash rate which have resulted in higher lending rates in general terms. The Bank has said more rises will be expected but also has not ruled out the possibility of holding rates steady in the coming period. This was mentioned in the minutes of the latest RBA Board meeting.
Our lenders, especially the non-bank lenders, do not automatically change their commercial finance rates in line with RBA decisions. Competitive and cheaper rates can still be achieved especially when utilising our expert services and industry-level contacts and accessibility.
Regardless of the size of the business – SME, sole trader, partnership, large corporation, affordable commercial finance at better interest rates can be achieved to ensure the business is well-place the make the most of the opportunities ahead in 2023.
Contact Jade Finance 1300 000 008 to discuss commercial finance options to support your business operation.
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.
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