Financial sectors across the world have been hit harshly by the aftermath of COVID-19, with many industries suffering as a result. Fortunately, as per an article published by Moneyweb, one such industry that is set to recover better than ever in 2021 is the construction trade.
Unlike other countries, construction was not deemed an ‘essential service’ in South Africa during the hardest of lockdowns and consequently experienced a 20.3% decrease in GDP in 2020. Similarly, the national mining sector also suffered due to the pandemic, with only an 8% contribution to the GDP last year. However, during his address at the Mining Indaba a few weeks ago, President Cyril Ramaphosa was as optimistic as ever that the industry has still proven resilient during this time.
As promising as this is, we need to ready our businesses and put in the work in anticipation of our national economic recovery. But where do we start?
Breaking the cycle
Investing in new equipment as a means of replenishing your mining or construction business is not something that many businesses can afford in this economy. However, without advanced materials and tools, a business of this nature can’t recover and reach the demands that are required to succeed.
This is where RentWorks steps in to break the cycle. By renting our equipment, you eliminate the risks and costs of ownership as well as the hassle of value depreciation. Equipment costs are also fixed at low monthly instalments, with flexible end-of-term options to match your business requirements.
We also manage and handle the proper disposal of assets once the equipment is no longer viable. So, your workload is alleviated and cashflow enhanced to help your business function at an optimal level. Insurance solutions are offered in line with our partnerships with independent insurance service providers, and we directly supply maintenance rental solutions in conjunction with our OEM partners.
Your project is our business
To enable you to conserve and redirect your capital towards income-generating projects, RentWorks is able to assist with a large range of equipment one can make use of in opencast mining, underground mining, and construction. This is how you can minimise your high operating and capital costs when you build a professional relationship with us with tailor-made solutions, which suit your unique business needs.
RentWorks provides maximum flexibility at the end of your rental term, and you have a number of end-of-term options available. These include:
- Return the assets in line with the return conditions specified
- Continue renting
- Buy the assets at end of term