Covid19 has
caused interruption to many business’s over the last 4 months. Since returning
to work, we have found multiple businesses’s using this down time to reflect
on their business, plan for the future and in turn re-investing in the
machinery that is required to re-open and hit the ground running with one less
limitation.
On the 27th
of April, Chancellor of the Exchequer Rishi Sunak announced the Bounceback Loan
schemes to help small business survive during this period of uncertainty. In
comparison to a standard loan often used to finance machinery prior to Covid19,
a bounce back loan offers a 2.5% interest rate against an average of 7.9% from
a high street bank.
The
versatility of a BBL, allows for a cash injection to ensure security and
investment in the wake of this global pandemic. Unlike finance agreements,
taking a BBL gives the flexibility to the business. With business’s able to
borrow up to £50,000, the funds can be used for a multitude of investment such
as growth, staff, product development and research, training, diversification
and machinery.
With a low
interest rate of only 2.5% and nothing to pay for the first 12 months, Sagetech
Machinery Vertical Panel Saw would have paid off its initial cost, before the
first payment leaves your bank.
During
lockdown, we have heard many stories of our customers having the demand to
remain open and profitable but have had to turn work down due to closures and blockages
in their supply chain. The unreliability of a supply chain in this situation
means that it is more important than ever to bring as many elements of your
supply chain in house, allowing full control of your work schedule.
Purchasing
a Sagetech Machinery Vertical Panel Saw will allow you to bring your sheet
cutting inhouse whilst adding a depreciable asset to your business, reducing
your corporation tax and giving you reassurance and security to bounce your
business back after the pandemic.
