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Upgrade on back of good numbers for agri and aquaculture – get approved for cheaper machinery finance
. 5 min read
Producers looking to upgrade as a result of the good results and outlook from ABARES can source cheaper machinery finance through Business Finance Australia. The good numbers were announced by ABARES – the Australian Bureau of Agricultural and Resource Economics and Sciences at a conference in Canberra on 7 March and include record level forecasts for 2022/23 in some areas. The reports and snapshots show continued strong growth in agriculture and although income for broadacre farms is projected to decrease this financial year, it is still well beyond the 10 year average. For fisheries and aquaculture the forecast for 2022/23 is also strong with an 8% increase expected. One of the reasons for the good growth in some areas is given as operators investing in productivity. Machinery and equipment manufacturers focus heavily on including features in new models which will generate improved productivity, reduced costs and increase profitability. Review this summary of the ABARES announcements and our finance update and... Read More
RBA March Monetary Policy Statement – interest rates up but pause closer
. 5 min read
As was expected, the RBA lifted interest rates a further 0.25% on 7 March meeting, said more increases likely but also indicated a pause was closer. The RBA Governor, Dr Philip Lowe made the ‘pause’ comments in a speech at the Australian Financial Review Business Summit, held the day after the RBA Board meeting. The content of that speech is informative as it expands on comments in the monetary policy statement and covers more ground. Comments and ‘ground’ which may be of assistance to business owners in the midst of making those vital acquisition decisions in the lead-up to the end of the financial year. Having as much intel as possible as to what may lay ahead in business conditions may provide be vital to those finance decisions. Interest rates are critical to commercial loans and with rates set to move higher, using an experienced broker to secure the cheapest rates can be an astute decision. The current cash rate is... Read More
Secure a new vehicle from Hyundai Trucks at cheaper interest rates
. 5 min read
Hyundai Trucks has new stock now available and buyers can source cheaper interest rate truck loans to make their purchase through Business Finance Australia. This will be a busy time for truck buyers as the end of financial year and the end of temporary full expensing looms. It could also be timely to purchase new vehicles with finance prior to any more rate rises. Securing the vehicles means finding a manufacturer and/or dealer with stock available for immediate delivery. Placing orders and having to wait beyond 30 June, may mean missing out on tax deductions in this financial year. Hyundai Trucks apparently have stock of some models and new models are coming soon. For operators in the market for a medium duty truck, the Hyundai range may be worth considering. Hyundai Trucks Models Now Available Operators requiring a refrigerated vehicle may consider those currently in stock at Hyundai dealers. These vehicles are ready for delivery and drive away so buyers can... Read More
Considering new commercial loans? Review latest inflation and economic figures for guidance
. 5 min read
Reviewing inflation and economic activity data may provide guidance as to the potential business outlook to assist in making decisions on commercial loans. Deciding when is the best time to proceed with major acquisitions with finance – trucks, equipment, machinery, can be guided by an understanding of the outlook for the specific industry sector or the wider economy. What’s happening with inflation in the current economic climate is of particular significance. The RBA is continuing with raising the cash rate to bring inflation down to its target of 2-3%. Changes in inflation may provide indications of what the next RBA decision may be. The timing of securing commercial loans may mean the difference in a higher or lower interest rate. A difference which may be significant in the effect of cash flow over the term of the finance. While it may sound like quite an involved and complex process to study statistics on economic activity, it doesn’t have to be to... Read More
February RBA Meeting Minutes reveal uncertainties re interest rates and inflation
. 5 min read
The uncertainties discussed by the RBA Board at its February around interest rates and inflation may present reason to expedite new asset purchases with finance. These uncertainties were detailed in the Minutes of the 7 February meeting which were posted to the Reserve Bank website on 21 February. While most will obtain information on RBA decisions through media reports, it can often be worthwhile referring directly to the source documents to gain a better perspective and greater insights. Meeting minutes contain a lot more detail and cover a wider range of topics than are included in the statement issued by the Board to announce its monthly interest rates decisions. This additional information may be beneficial to business owners and operators in acquiring a more broad-based view of the outlook for their sector or the Australian economy in general. Most importantly, the minutes may offer a greater understanding of the RBA’s thinking and reasoning around interest rates. Rates are key to... Read More
Secure equipment finance before next construction shows
. 5 min read
Operators can get equipment finance approved with Business Finance pre-event in preparation to purchase at upcoming construction machinery expos and auctions. Two major events are coming up in April and May which offer ideal opportunities to see the latest machinery and technology in for earthmoving, infrastructure, construction and civil construction sectors. Opportunities to inspect many machines in the one place, save time and most importantly to place orders to expedite delivery. Opportunities which can be optimised when the finance has already been secured. These upcoming events – National Diesel, Dirt and Turf Expo and the Heavy Equipment and Machinery Show, also include live auctions of used equipment by Pickles Auctions. In order to bid, operators will want be confident that they have been approved for finance. We assist operators to have that confidence, save time and secure cheaper machinery and equipment finance ahead of making their final decisions and purchases. It is a smart way to go and can deliver... Read More
Cheap truck loans to assist operators comply with National Road Safety Action Plan
. 5 min read
Cheap truck loans are available through Business Finance Australia to assist operators comply with the mandates in the National Road Safety Action Plan. The 2023-2025 plan was recently signed off by the relevant state, territory and Federal transport ministers and includes mandating heavy vehicle safety technology. This action plan is the first to be implemented in the large-scale Safety Strategy 2021-2030 which has the key objective to reduce the level and numbers of road trauma quite significantly. The plan covers the strategies for 9 areas of priority and the different responsibilities for implementation assigned to the tiers of government – local, state and federal. The plan is fully detailed in a readily accessible document, but in this article, we are focusing on the aspects relevant to heavy vehicles. Aspects that may create the need for some operators to upgrade their vehicles with finance. Road Safety Action Plan – Outline Safe movements for freight and passengers and reducing harm for all... Read More
Inflation Rate, Interest Rates and now the Unemployment Rate for businesses to consider
. 5 min read
Release of the latest unemployment rate and increases in interest rates may prompt businesses to act to upgrade equipment and vehicles with commercial loans. Australians have been swamped with the stats, data and rates over the past month or so. While inflation rates and interest rates will be of greatest interest to individuals, the employment situation can be of critical importance to many business operators. The conditions in the labour market have been a key impact on the ability for many businesses to operate to full capacity. Affecting output, productivity, profitability, supply and potentially pricing. The labour market has been tight for quite some time, so any signs of an easing may be good news for many and reason to get moving with plans that have been on hold. The Australian Bureau of Statistics (ABS) released the unemployment rate data on February 16th and it showed an increase. The Reserve Bank of Australia (RBA) had included a rise in unemployment... Read More
Sales of trucks continue to set records. Get your purchase underway with a quote for cheaper heavy vehicle finance
. 5 min read
Business Finance Australia supports businesses to boost their operation with investment in new trucks with heavy vehicle finance at cheaper interest rates. Based on the recent truck sales figures as released by the Truck Industry Council, many operators are taking advantage of tax benefits and improving business conditions to upgrade their vehicles. 2022 ended with record-breaking truck sales results and many may have expected somewhat of a lull to follow such a busy selling period. But clearly, owners and operators had different ideas and were out in force in January to take delivery of new vehicles. The timing is of course spot on. As we and many others in the finance sector have been alluding to, further interest rate hikes are highly likely from the RBA in the early part of this year. The release of the annual inflation figures last month by the Australian Bureau of Statistics revealed that inflationary pressures were still present in the Australian economy. Pressures... Read More
Qld Outdoor Trading Opportunities – get approved for Hospitality Equipment Finance to prepare your venue
. 5 min read
Business Finance Aust assists operators upgrade venues for outdoor trading opportunities in Queensland with cheap rates on hospitality equipment finance. The hospitality sector was one of the hardest hit in many areas of Australia throughout the pandemic. The sector’s challenges have continued with major staff shortages across the industry. So when an opportunity presents to boost business, many operators are quick to capture the chance. Currently opportunities are ahead for dining-based hospitality businesses in areas of Queensland with the next stage of the Government’s overall strategy to support small businesses. This stage of the strategy is the Outdoor Activation Plan to facilitate expansion of outdoor dining and vending in specific precincts to boost activity in central business districts. But switching up operations to include al fresco service can involve significant investment by the businesses in the appropriate furniture, systems and other equipment. We overview the opportunity and how we may assist with cheaper rates on hospitality equipment finance to ensure... Read More
