Its serious business being a local manufacturer…how do you maintain an edge over your global competitors? Can you really afford to keep up with new technology? What are the actual costs of integrating an automation solution? Will it really be a viable expense? These are the genuine and valid questions that local businesses are asking every day. If your company is like most, cash flow is king! For that very reason, choosing to finance your equipment is the smart way to enhance your production, without dipping into your cash reserves. I recently spoke with Trevor Phillips, a local broker from Source Financial Services, about the benefits of equipment financing. As Source is one the industry’s leading finance specialists, Trevor explains how he can help small and medium-sized businesses get the equipment they need without the stress or hassle often encountered with everyday bank financing. “At Source, we pride ourselves on taking the time to understand your business and focus on developing a tailored finance plan to suit you.”Trevor goes on to outline some of the finance options available, “Source Financial Services focuses on all aspects of equipment financing including leasing, rental, hire purchase and chattel mortgage.” From our discussion, I concluded that some of the key advantages for companies are as follows:Retained Capital Strength: Purchase the latest equipment and technology, while spreading your payments affordably over time. This option will allow you to retain your capital for the day-to-day running expenses of your business and possible present some tax advantages. Instant Savings: Look at it this way; if you choose to finance then the equipment has the ability to pay for itself through the savings it generates. The moment it’s installed you have reduced labor costs, improved quality, increase capacity to produce more, eliminate OHS issues and more!Speed: As you are no doubt aware, the rate of development and innovation in our industry is constant. Getting the right equipment as it is available is imperative if you want to remain competitive. A finance plan will allow you to obtain the equipment immediately, so you can start producing greater profits for your business, quickly and without hassles.Flexibility and Customised Solutions: Flexibility is a fundamental requirement in deciding on a finance plan. Of course your business is going to grow and your needs will change over time. Customising your finance solution to allow for upgrades, maintenance and additions will give you peace of mind to anticipate growth and change within the technology.If you would like more information on equipment finance, check out the Source Financial website www.sourcefinancialservices.com.au or contact Trevor Phillips on 9008 0525, 0418 502 541 or email trevor@sourcefs.com.au. Prue DeAraugo, Robotize