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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
Commercial Loans: Options for NY Finance Requirements
. 5 min read
Business Finance Australia offers cheaper interest rates on commercial loans and asset finance to meet the finance requirements for businesses to grow in 2023. In order to capture and capitalise on emerging prospects, to strengthen the company’s existing position and to be well-placed to move on growth plans, cost-effective finance can be essential. Commercial loans may be critical for many businesses to deal with the ongoing economic challenges and stay ahead of the competition in bidding for lucrative tenders and contracts. Many asset investment decisions may have been deferred due to uncertainties in the economic outlook and especially as a result of the tight labour conditions. But ageing machinery, inefficient technology and equipment which continues to pressure cash flow with ongoing repair costs may be holding the business back from achieving its true potential. Making that investment in new assets with cost-effective commercial loans may be the solution required. Benefits of Investing in New Assets Some of the key terms... Read More
RBA discusses both halting and hiking interest rates. So what’s next?
. 5 min read
With the minutes of the RBA December meeting revealing the Board considered a larger hike and a hold, businesses may wonder what’s ahead for interest rates in 2023. Since the first of this current cycle of interest rate rises in May 2022, the RBA Board has constantly included a remark that further interest rate rise would be expected. But when delving further than the media release statement and into the more detailed minutes of the meeting, greater insights into the Board’s decision-making process is revealed. But sometimes more information is not always helpful. The December board meeting minutes detail the arguments that were discussed for returning to the earlier larger rate hikes of 0.5%, of continuing the run of 0.25% increases and holding the cash rate steady at the 2.85%. The possibility of a stop to rate rises would be good news while another large increase could put plans for acquiring assets with finance into limbo. One economics reporter described... Read More
To realise the optimum benefits and outcomes from the Limited Edition IVECO Daily vehicle, cheap truck loans are available through Business Finance Australia. This edition of the Daily Tradie Made has been brought back by IVECO due to its popularity. But the offer is only available for a limited period or while the stock is available. Considering the previous popularity, the stock could move fast. So buyers should also be fast in securing the cheap truck loans to ensure they don’t miss this offer. The vehicle is likely to be a great option for operators in many industries as it is a versatile model with a factory-fitted tray. So it’s ready for work. An attractive solution especially for those planning their next move into self-employment as a contractor. We offer cheap truck loans for all types of businesses including those just starting out. For new operators and ABN only holders, talk to us about Low Doc and No Doc truck... Read More
What the unemployment figures can mean for commercial loans decisions
. 5 min read
Staying across the latest unemployment and other economic data may assist businesses make key decisions on commercial loans for major asset acquisitions. The labour market in Australia has been extremely tight for some time as the economy records near record low unemployment rates. The situation has meant many businesses across many industries are continuing to face issues in achieving full staffing. A scenario which is limiting their ability to operate at their full capacity and realise their full potential. These constraints can affect how business owners approach decisions to invest in new or upgrade equipment and machinery. Having some indication as to what could play out moving forward, may provide guidance as to whether the business will be well-placed to support such a major investment over the full term of the finance or not. There are a number of statistics-based resources available through a range of Government bodies and other organisations which are available for easy access. These include statistics... Read More
Pre-approved finance for best selling utes, vans, cars, top selling trucks
. 5 min read
Pre-approved finance may assist buyers to secure one of November’s best selling utes, vans, cars and top selling trucks where availability is limited. Anyone who has been trying to buy a new vehicle in recent times is fully aware of the problems around availability. Supply issues emanating from overseas factories along with the recent shortage of computer chips are just some of the reasons for the limited numbers of new vehicles on the Australian market. But according to the FCAI in releasing the November new vehicle sales figures, the supply issues appear to be easing. The monthly figures detail the makes and models which have sold the most units in the period. The truck sales figures have also recently been released which reveal which brands have sold best across all categories. This data can be useful for buyers trying to quickly identify where stock of new vehicles may be immediately available. But, buyers should be aware that many of the... Read More
Pressure mounts on businesses to seek cheaper interest rate business and asset finance as the RBA continued increasing interest rates with its December decision. The RBA December decision to raise the cash rate again makes it the eighth consecutive increase this year. Raising the cash rate from that historic low 0.1% to the now 3.1% over those eight increases. Quite a significant amount of increases in a relatively short time. A fact which has been acknowledged by RBA Governor Philip Lowe in recent remarks and statement. The cash rate is now at its highest in around 10 years. The repercussions through lending markets has been increases in interest rates by banks and non-bank lenders. But those increases can vary across and within different loan markets and for finance applicable for different industry sectors. Taking this all into consideration along with high inflation, the tight labour market and rising costs, the importance of understanding what’s happening with interest rates and having... Read More
