5 Key Reasons Why Asset Finance Could Help Your Business Grow
If you are looking for an alternative way of financing your business growth, then asset finance could be the answer. Here is why asset finance could help your business grow in 2023.
What is asset finance?
Asset finance is a type of finance that enables companies to fund the equipment or services they need to help their businesses grow. By acquiring assets like machinery or vehicles, businesses can expand their operations and generate more business income. Assets can also include computers, forklifts and land.
Here are five ways your business could grow with asset finance.
It can improve your cash flow
This type of finance is a great way to improve your cash flow. It enables you to pay for items over time, rather than in one go, so you can spread out the costs and access new assets without the upfront outlay.
If you need a business asset but don’t want to tie up working capital with an outright purchase, asset finance provides this flexibility. You may also be able to choose the length of your repayment plan, so you can pay off the asset at a pace that suits you. Read more about this here.
Helps reduce your tax bill
If you’re a business owner, there is a good chance that you will be able to take advantage of being able to reduce the amount of tax that you pay on your assets. This includes things like cars, computers and machinery but also other items such as office furniture and fixtures. This process is known as capital allowances and can be claimed if the equipment is bought outright, bought through hire purchase or supplied under a long funding lease.
Financing gives you peace of mind to plan ahead
With asset finance, you can predict your cash flow and plan ahead. You know exactly how much money will be coming in and going out every month. This makes it easier to choose a great financing option for your business needs.
It offers quicker funding potential
If your organisation needs a new asset quickly, asset finance can help you to access this faster. This is due to you not having to pay a lump sum for the equipment or waste time saving up for the asset.
Call our team today on 0330 1133 093 to discuss your requirements.