Finance in an Uncertain Economy
Andrew Palmer, 30 March 2023
As I sit on the train, going home, it’s a perfect place to reflect on the last few years and what we have all been through.
How almost everything that affected us in this time was completely out of our control; COVID, lockdowns, WFH, changing customer buying habits, supply chain issues, managing staff, increase costs…… we could go on and on.
And now we find ourselves in an economy dealing with high inflation and soaring interest rates.
This is challenging for businesses who need to keep up with equipment/asset purchases while dealing with an uncertain economy.
Unfortunately, in my 25 years with SER, I have been through a few of these scenarios and our MD Steve Sykes has been through even more.
History tells us that with every one of these occurrences the demand for asset finance increased.
At SER we are seeing this trend with November to February figures all showing significant increases in finance applications for asset finance.
The adage “Cash is King” is never truer than in uncertain economic times.
And why SER, and it’s vendor network, are currently seeing a higher uptake of a finance offering, allowing businesses to better manage cashflow in these unpredictable times.
We know customers find having a fixed monthly commitment over a fixed term preferable to a large upfront payment, that way it is easier to manage cash flow.
With inflation still creeping up, business costs increasing, and more interest rate rises on the cards, we believe, making sure your customer knows that you have a finance option could be the difference between a customer saying yes to you now.
General Manager, S.E. Rentals
S.E. Rentals are the finance as a service specialists that will help you grow your business by providing finance solutions in an 'all things technology' future. We provide you with the flexibility, scalability and agility to help you achieve your Managed Service objectives, and our unique in-house software platform, Finance Oxygen, automates the process for you