How important is equipment financing in the industrial sector?
- November 29, 2017
- Posted by: Admin
- Category: Services
Business owners in the Australian industrial sector face unique challenges. The cost of labour is rising, with weekly wages increasing to a five-year high in January this year, according to statisticians Trading Economics. However, purchasing the equipment to start your operations and then upgrading it periodically is still as costly as ever.
But the riches for those in manufacturing are obvious – the value of Australian exports has bloomed to the point where it now encompasses 32 per cent of national export value, as reported by the Department of Industry. A solution to avoid cash flow issues is in order for Australian manufacturers to maintain productivity – so how important is equipment financing in the industrial sector?
Australian Finance Industry statistics indicate there are over $90 billion worth of assets covered by equipment financing.
The importance of having the best industrial equipment
Your manufacturing output relies on the complex processes of your machinery to deliver. If you are using outdated equipment, the goods you produce may drop in quality, or your production may be slowed. Old machinery doesn't just cost you time and potentially quality – ongoing maintenance can be a huge drain on your financial resources too.
This can be problematic if your operations rely on precise measuring equipment – the slightest flaw can cost thousands in sub-par goods.
An equipment financing solution
One solution to this problem is simply to investigate equipment finance options for your industrial measurement solutions. Australian Finance Industry statistics indicate there are over $90 billion worth of assets around Australia that have been covered by a flexible financing arrangement. SRO Technology offers a range of equipment financing plans for industrial facilities, designed to ensure you run to peak productivity. Let's take a look at two scenarios where you may need equipment financing:
- If you are operating an industrial pulping mill, you rely on the accuracy of level measurers to report on the exact quantities that go into each item you produce. If these measurements are inaccurate, an entire line of products could be ruined. Getting an up-to-date level measurers is easy with SRO equipment financing.
- When running a conveyer belt in any industrial facility, steel cord splicing will progressively build up a non-uniform magnetic field. This can cause electrical surges, which can stop your conveyer belt and suspend operations. Wear and tear is another issue with conveyer belts – so addressing problems like belt demagnetisation that may affect your productivity shouldn't be limited by access to funds for new equipment.
Contact SRO Technology for equipment financing options
It doesn't hurt to consider your options, especially when a costly new piece of equipment can massively benefit your industrial operation in the long run. Contact the SRO Technology team for more information on equipment financing options by clicking below.