Category: Agricultural Industries (page 5 of 5)

Why Your Business Should Consider an Equipment Loan

28th November 2018 / / Comments Off on Why Your Business Should Consider an Equipment Loan

All businesses need equipment and some will require more expensive equipment than others so how should you fund the purchase of that equipment?

The answer is an equipment loan. If you are wondering how you can turn equipment you haven’t purchased yet into a loan let’s fill you in on the details.

An equipment loan is normally based in the lifespan of the equipment you purchase so it is ideal for those major pieces of equipment you expect to be using for a long time.

The advantages of an equipment loan include the following:

  • The equipment is used as collateral for the loan so the risk is less than it would be for other types of loan. What is more you will be the owner of the equipment you are financing so you will build a certain amount of equity over time.
  • Rates are competitive and certain business types may find this type of loan preferable and less expensive than term loans or other far riskier forms of finance such as credit cards.

    • Disadvantages:

  • You may need to make a down payment on the equipment you are financing which could mean a higher upfront cost than alternative forms of finance.
  • You need to be sure the equipment won’t become obsolete before the term is up.

Vets Equipment Finance

5th May 2016 / / Comments Off on Vets Equipment Finance

If you run a veterinary practice today, you will need all kinds of equipment to ensure that things run smoothly and efficiently in addition to ensuring the best standards of care.

Of course all the equipment you need these days doesn’t come cheap, which is why finding ways to finance your assets can be helpful if not essential. The great thing about asset finance for vets is, you can use it not only for large expensive items of machinery such as x-ray processors but also smaller items such as thermometers and other equipment you might use every day.

Breaking it down in simple terms, there are two main asset finance options for vets. These are leasing and hire purchase.

If you want to keep costs down, leasing can often be the better option and even more so if your needs are short term. Your monthly costs will be less because you aren’t buying your equipment and at the end of the agreement you can simply return it or renew the lease. Your approval rate on leasing will also be higher than for higher purchase.

With higher purchase on the other hand you will eventually own an asset permanently although you will need a higher deposit and the monthly payments are likely to be more. Again approval rates are high for asset finance lending on equipment bought on higher purchase as long as your credit rating is good.

Can Businesses Cope With High Wage Growth?

17th September 2015 / / Comments Off on Can Businesses Cope With High Wage Growth?

UK wages are said to be rising at their fastest pace for six years but what does this mean for SME businesses?

The UK economy at present is something of a mixed picture. On the one hand unemployment has risen while employment and wage growth are rising. It might sound strange that employment can rise while unemployment also increases yet there will be some areas hidden within the statistics which explain why this is the case including more people taking part time jobs and so on.

The big news from a business perspective however is the rapid growth in wages. As competition heats up for the best qualified staff it is inevitable that wages will be pushed up in some sectors and this can happen even if that sector is not doing so well such as the construction and manufacturing sectors – the latter feeling the ill effects of a strong pound.

Higher wages are likely to put a strain on businesses at a time when bank lending is constrained. If your business has been hit by a higher wage bill and the need to keep cash flow going why not consider asset finance? Our experts are on hand to guide you through the simple process of using your existing assets to consolidate your business.

Agricultural industries to receive £160m Technology Boost

16th August 2013 / / Comments Off on Agricultural industries to receive £160m Technology Boost

The new government strategy is set to make the UK become a world leader in agricultural science and technology, and will also help the sector meet the challenges of global demand for food, as well as land, water and energy shortages.

Breakthroughs in nutrition, informatics, satellite imaging, remote sensing, meteorology and precision farming mean the agriculture sector is one the world’s fastest growing sectors.

Developed in partnership with industry, the Agricultural Technologies Strategy will ensure that farmers, retailers, cooks and shoppers will be able to share the benefits to be had through these breakthroughs.

Centres for agricultural innovation will receive £90m, while £70m will go to projects that “bridge the gap between the lab and the market”.

The food supply chain, from farming through to catering and retailing, contributes £96bn to the economy and employs 3.8 million people, according to the Department for Business, Innovation and Skills.

It says that currently not enough of Britain’s research is being commercialised, so farmers and food manufacturers are unable to take advantage of gains that new technology might offer. Defra minister for science Lord De Mauley said: “We face a global challenge to feed the rapidly increasing population in a way which is affordable and sustainable.

“We are investing in technologies that will enable British farmers to meet these challenges and take advantage of the growing demand in export markets for British food.”

Newer posts »

© 2021 Asset Finance & Refinance | Richmond Asset Finance

Theme by Anders Norén — Up ↑