When a small business gets it right, and things start to fall into place, it is critical to have an expansion plan at the ready in order to promote and support business growth. Of course, it takes finance to be able to expand any operation, which means finding a finance company that promotes expanding businesses.
You might need business asset finance in order to acquire heavy equipment, or perhaps you want to automate your warehouse; this is a time to seek out a leading Australian commercial finance provider, an organization that will help you to fund expansion over the years. You should formulate a 3–5-year expansion plan, and your finance partner can help with this.
Commercial Finance Agreement
If you enter into a Commercial Finance Agreement, you can instantly invest in the following:
- Commercial vehicles
- Commercial equipment
- Earthmoving equipment
- Construction equipment
The finance company understands the needs of the small business; therefore, they offer a range of repayment options to suit your situation.
This is when the finance company acquires the asset, and you lease it from them, which many business owners prefer. This allows you to manage a large fleet of vehicles and pay monthly, which doesn’t involve using your capital.
Many small businesses simply do not have the capital to buy vehicles and equipment, and not being able to acquire essential assets could seriously impact the organization. If business is booming and you are in need of additional commercial vehicles/equipment, you don’t need to wait; taking out a leasing agreement enables you to get the equipment you need right now rather than having to wait.
Using this option, you can buy a new car for business or personal use, and a monthly repayment is deducted from your salary. Your employer signs a novation agreement with the finance company, and they take over responsibility, deducting the repayment from your pre-tax salary. Click here for information about financial planning.
Benefits of novated leasing:
- Terms ranging from 12-60 months
- No annual fees
- Running costs included
- Options include tax, insurance & vehicle maintenance
- Deferral options available
If you would like to learn more about novated leasing, search online for a leading Australian finance company and see what they have to offer.
Create a Business Expansion Plan
This will enable you to plan your finances over the next few years, and the finance provider has a team of experts to assist you with your plan. Without finance, any business development plan won’t be able to be implemented, and that could put the company at risk. Great care must be taken when planning a business expansion, and when you partner up with the right Australian finance provider, you can be sure of access to funds when you need it.
Funding is a critical aspect of business development, and if you are in need of business expansion funding, search online for a leading Australian finance company and see what they can do for you and your company.