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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
Possibilities of refinancing to offset pressures from increased operating expenses
. 5 min read
With the latest CPI indicating more inflationary pressure, business owners may consider refinancing to offset the pressures from increased operating expenses. Most widely used to achieve lower interest rates on current loans, refinancing does have broader purposes and may be a realistic solution in the current economic conditions. It may form an integral component of an operation-wide finance restructure and/or part of a raft of measures undertaken to cut outgoings as prices continue to rise. The current labour situation in Australia may also give rise to the need to consider refinancing. The tightness in the market has meant that many businesses are operating well below capacity. Thus limiting income while costs and outgoings continue to rise. Refinancing may contribute by achieving reduced finance repayment amounts to ease the monthly outgoings commitments. Something which may be significant in affecting a positive change to the bottom line and easing cash flow pressures. The latest data on inflation from the Australian Bureau of... Read More
Prospects for interest rates with latest inflation increase
. 5 min read
Prospects for more interest rates rises were possibly strengthened with the latest November CPI data from the ABS revealing continuing inflationary pressures. The CPI data for the year to November was published by the Australian Bureau of Statistics (ABS) last week and shows the October drop in inflation was short-lived. In November inflation rose again by 0.4% to bring the current rate back to the September figure of 7.3%. These newest figures are in line with the outlook from the Reserve Bank of Australia (RBA) for inflation to edge even higher. The Board’s outlook was upped from the previous 7.75% to a peak in 2022 of 8%. The newest data covers November so the December figures are awaited to see what the annual rate is and if it is a peak. The December Quarter CPI data along with the monthly figures for December are due to be published by the ABS on 25th January. The timing is proving a busy... Read More
New Biz for 2023? Low Doc and No Doc Finance Available
. 5 min read
Business Finance Australia provides access to Low Doc and No Doc Finance for motor vehicles, trucks, equipment and business expenses to set up a new business. This is a very popular time of year – the start, for people to rethink the way they earn an income and put plans into action to make a change. That may be a change to self-employment in any number of fields. The opportunities for sole trader, self-employment and contract work are available across many industry sectors. These include as an owner-operator for an excavator, crane or other construction equipment, as an IT specialist or web designer, in the trades, as a delivery service with a van or truck and in the transport sector as an owner-driver. But these opportunities are often not able to be realised due to difficulties with sourcing affordable, workable finance to acquire the necessary equipment. It only takes a quick browse of the business loan application eligibility on some... Read More
Benefits of office upgrade with cost-effective equipment finance
. 5 min read
Refurbishing and refitting offices and working environments with cost-effective effective finance may deliver significant benefits and address many challenges. The cost-benefit analysis of any investment by a business needs to be carried out to be confident of a positive outcome. Investing in upgrading the workspace with new equipment, refit or refurbishment may seem less important than other acquisitions. Investing in new plant, machinery and operating equipment which can deliver a direct and immediate outcome for the business may be seem a lot more important. But in the current economic environment, there are a number of arguments in favour of paying more attention to where employees spend their work days and where customers visit the premises. Of course, all major business expenditure can come down to the cost. We provide access to cheaper, more cost-effective equipment finance to facilitate upgrade of offices, work spaces and other areas of the business. We provide a range of business finance options to cover the... Read More
