Product category:
Building Industry Finance, Law and Insurance
News Release from: MP Taylor & Associates | Subject: Cash flow
Edited by the Buildingtalk Editorial
Team on 24 October 2006
Is your cash flow flowing the right way?
MP Taylor and Associates looks at one of the biggest problems affecting any business: managing cash flow.
One of the biggest problems affecting any business is managing cash flow In the building industry you often find that the financial commitment at the beginning of a project is high; and more often that not this initial outlay is not covered entirely by the customer deposit, but is largely carried by you as the contractor
This article was originally published on Buildingtalk on 13 Jun 2003 at 8.00am (UK)
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One way to ease your cash flow and keep your capital fluid is to take advantage of the various ways of financing your equipment purchases such as plant, vehicles, and tools.
Buying equipment on a payment scheme of any kind helps to manage your cashflow not only by maintaining the availability of your capital, but by giving you a fixed monthly, or periodic, "cost of sale" to take into consideration when pricing projects.
Many contractors price projects according to the time and materials to be used, and don't even think about the cost of their equipment.
A fixed periodic cost helps you to remember that pricing a project should include all costs, not just the obvious ones! As well as the good old fashioned HP schemes available, you could also consider routes such as business equipment leasing, business loans, and contract hire.
Every business is different and has very different equipment finance needs; that's why MP Taylor and Associates, and independent business finance broker, takes a very personal to helping you decide on, and arrange, the best finance to suit you.
The consultants at MP Taylor and Associates take the time to listen to your requirements, find out a little about your business, and explain the different finance options available (e.g van leasing versus contract hire) before helping you decide upon which route to take.
If you would like to have a chat with one of the consultants at MP Taylor and Associates about any financing any equipment that you need please call Justin Miles on 01626 33 33 73 quoting ref: JM2403 Buildingtalk.
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