For small businesses, having secure finances and looking after the bottom line is your priority, more so now than ever. This means making sure that your cash flow is strong and your money goes further, to ensure you can carry on trading and making a profit, whilst keeping costs down. As we all know, this isn’t as easy as it sounds, and unexpected circumstances often dictate what comes in and goes out of your business. This makes it your priority as a small business owner to balance the books and make smart decisions for your business.
We work with business owners across sectors who want to increase their revenue, keep costs down and keep customers happy, which can be a tough balancing act, however the benefits of financing or leasing, whether it’s equipment, assets or a loan, can all contribute to achieving these aims. Take a look at some good reasons to use finance for your business.
Cash is King
It’s important to have money in the bank for rainy days, emergencies and unexpected events. Cash is king and this is something to live by. By using finance for your next piece of equipment, to invest or to improve your service or product, you can keep cash in your bank and keep your cash flow strong. Regular monthly payments are more manageable and allow you to maintain a healthy bank balance, ensuring your business is strong in the long-term and can operate as you need it to. This means you can take your business to the next level, without worrying about your bottom line.
Afford Quality
Financing your new asset or piece of equipment, or taking a loan to secure that piece of kit, gives you the ability to afford the best quality. With more purchasing power you can improve your existing equipment or bring in brand new equipment, this allows you to improve the quality of your product or service, which may not be an option with your cash reserves, or may be seen as a big expenditure, that is easy to put off and delay, which in the meantime is not helping your business bring in revenue.
Increase Revenue
Using finance to secure new, better quality or more equipment can help to increase revenue streams by creating and coping with an increased demand and volume of sales, by utilising different means of finance you can take your business to the next level, increasing both quality and output allow you to improve your product or service.
Decrease Costs
This also means that you can decrease costs, by having higher quality and more efficient equipment, with lower running and maintenance costs. Your profit margins will be improved as a result of decreased costs whilst revenue is increased through the improved quality and output of the new equipment. Overall this will allow you to maintain high quality in the long term whilst operating at a profit, which we know is the number one rule.
These are just four ways finance can help your business, helping you to make money, save money, spend money sensibly whilst keeping money too. It gives you unlimited options to grow and improve your business, keep you financially in the black and keep your customers happy.
If you are interested in a loan, equipment or asset finance, or any other financial products for your business, get in touch with our team, contact us at 0161 429 6949 or [email protected].
