Strategies for freeing up more cash in your business

For many local businesses, it has become critical to conserve cash for core activities and operational requirements.

Businesses are forced to re-evaluate and streamline their spending to ensure certainty of cashflow during these uncertain times.

A simple way to do this is to rent your assets over their useful lifetime.

Discover more advice from RentWorks:

All of the bang for some of the buck

Renting enables you to enjoy full, uninterrupted use of your equipment until your agreement comes to an end.

At this point, you can simply enter into a new agreement where you get the upgraded version of the equipment you were previously using.

This ensures that your business stays ahead of the technological curve by placing you in a refresh cycle that falls within your warranties.

It also gives you access to high-quality equipment which might be too expensive for you to buy outright.

Zero deposits, zero worries

Optimise your cashflow and stretch your budget by looking for zero deposit options.

When renting, you don’t have to pay the full cost of the asset upfront – there is therefore no need to borrow money and put further financial strain on your budget.

Look for solutions that are affordable, flexible, and scalable, as these will provide you with the agility needed to stay ahead of your competitors.

Flexible payment options with fixed equipment costs

When renting, you pay for the asset over the fixed period that you use it, which helps you to budget for the future.

Selecting fixed rate options when financing gives you the ability to forecast your cashflow.

RentWorks will allow you to spread the cost over a longer period and match the payments to your income, giving you the flexibility to select payment options made monthly or quarterly.

Make money off your existing assets

Are you keen to start renting your assets, but not sure what to do with those you already own?

In this case, an option to consider is a sale and rentback solution.

If you have paid cash for your IT assets within the past 6 months, RentWorks can offer you this option.

This solution will give you cash back now whilst you rent your IT asset back over its remaining useful life.

This eases your cashflow burden and assists your business in both the short and long term.

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