Is Your Business Experiencing Cashflow Pressure?
There’s no doubt it’s a challenging time for many businesses.
Costs continue to rise, customers are taking longer to pay, and changes such as Payday Super are adding further pressure on business cashflow.
When cashflow gets tight, many business owners look at short-term funding solutions to keep things moving. Unfortunately, these can often come with high interest rates and create more pressure in the long run.
What many business owners don’t realise is that the equipment, vehicles or machinery they already own may provide an opportunity to free up cashflow and reduce monthly repayments
How Could This Help Your Business?
A review of your current asset finance facilities could help:
- Lower your monthly repayments
- Free up cashflow for day-to-day business expenses
- Make it easier to manage ATO and supplier payments
- Create more breathing room in your business
Case Study: Victorian Crane Business
A local crane business that had been operating successfully for more than six years was finding cashflow increasingly difficult to manage.
Like many businesses, customers were taking longer to pay their invoices. While the business knew the money was coming, the delays were putting pressure on day-to-day operations.
Working alongside the business and their accountant, Morris refinanced two cranes over a five-year term.
The Outcome
- Monthly repayments reduced by approximately $12,000 per month
- Annual cashflow improved by almost $150,000 per annum
- ATO obligations remained up to date
- The business continued operating without disruption
A Simple Review Could Make all the Difference
If your business is feeling the impact of rising costs, slower customer payments or increasing finance commitments, it may be worth reviewing your existing asset finance facilities.
For an obligation-free discussion about your business, contact Jackson Davis on 0400 146 203 or jackson@morrisfinance.com.au.
