Running your own business is an excellent way to make money and pursue your passions. Unfortunately, it takes more than dreams and enthusiasm to keep your operations running. You need a good team, equipment and many other resources to keep the lights on and your cash flowing. Asset finance could be the key to growing your company and staying productive.
What Is Asset Finance?
This type of funding allows you to purchase, replace or refinance an asset by using the specified asset as collateral. This is a great opportunity to secure new equipment and grow your business.
Like any other kind of business loan, you should work with a professional lending specialist to get a great deal. Find asset finance specialists who have experience working with businesses like yours and who can offer your personalised services.
How Does Asset Finance Facilitate Growth And Productivity?
How exactly can this form of lending help you grow your business and boost your productivity?
- Preserving Cash Flow. As all responsible business owners know, cash flow is the lifeblood of any business. Taking money from your budget and your profits to purchase or repair an asset can disrupt your operations and, therefore, harm your cash flow. Instead of putting your business at risk, you can invest in equipment while keeping your working capital available.
- Fast Access To High-Quality Equipment. If you save up money on your own, you may have to wait a while until you can purchase good equipment. This wait time could cause you to fall behind other competitors in your field. With asset finance, you can get excellent equipment right away and stay on top. Companies using modern assets can outperform businesses that use old, outdated equipment. Good assets boost your business, enhance the quality of your products and improve your profits. Then, you can pay back what you owe in no time.
- Increased Efficiency. Upgraded machinery and tools are often much faster than outdated equipment, and they can produce higher-quality goods with fewer errors. These upgrades can streamline operations and reduce downtime, making your team much more efficient. When you get your equipment, make sure you thoroughly read through the manufacturer’s instructions so you know how you should use it. Only use your equipment as intended. Additionally, keep your equipment well-maintained to reduce the chances of malfunctions and damage, therefore reducing downtime.
- Better Safety. Modern equipment and tools typically have better safety features than older pieces. Plus, new equipment is less likely to experience age-related malfunctions. Your team members can keep up their productivity while staying safe. Of course, make sure your hardworking staff members wear the right safety gear and use the equipment correctly to further avoid accidents.
- Faster Project Completion. Better assets boost productivity, reduce downtime and enhance efficiency, so your projects will be completed much faster. Your team can meet your deadlines while producing high-quality results, working faster without sacrificing any quality. When you complete projects quickly you can move on to the next venture faster, overall improving your output and pleasing your customers.
- Boosted Reputation. Your customers will surely notice when you fulfil orders faster and produce better-quality products. Your growth and productivity can enhance your brand’s reputation, improving customer retention and drawing more positive attention to your New Zealand company.
- Innovative Upgrades. Having access to the latest equipment gives you the opportunity to innovate and set yourself above the rest. Investing in top-notch equipment now lets you stay ahead of trends, meeting evolving customer demands without hassle. Newer equipment can allow you to expand into new markets or services, providing you with the necessary tools without having to pull money from your budget. Think about ways you could offer additional services to your customers and how new equipment could facilitate that. Adding to your goods and services can attract even more customers, giving your clients a comprehensive way to fulfil their needs.
Making Smart Investments With Asset Finance
How could you improve your New Zealand business with new equipment? If asset finance sounds like a good option for you, we welcome you to contact us at Spinach. Our lending specialists have plenty of experience with asset finance, and we’re sure we can find a deal that suits your unique company perfectly.
Or, if you’re still exploring your lending options, we can also explore various other opportunities. We can assist you with small business loans, working capital loans, business invoice finance and much more. It can be difficult to understand the best option for you, so we will guide you through each of your opportunities so you can make an informed decision.
Ready to start? Call us on 0800 SPINACH or message us online.
Drive growth and boost productivity with asset finance.