Newsletter Articles

Equipment finance – A Viable Solution to Your Skilled Labor Shortage…

It doesn’t call in sick, has the capacity to work more than one shift a day, could decrease your wage bill, provides scope for new business services, completes current jobs in half the time with fewer errors, and could substantially improve your business’ bottom line. How do you get a staff member like this?

Look to technology and invest in new business equipment. Manufacturers, accountants, doctors, tradesmen… It seems that few industries are immune to the ever increasing shortage of skilled labor.

As demand for employees with a particular skill continues to outstrip supply business owners face continual challenges such as increasing wage bills and limited quality of applicants to choose from when needing to employ staff for your growing business.

Tens of thousands of employees are urgently needed to prevent a skills shortage crisis. Thousands of job vacancies exist across the country, with almost every sector crying out for help.

If the statistics and comments below are any indication, business owners can expect the skilled labor crisis to get worse before it gets better. Think outside the square however, and an investment in new technology and / or business equipment could actually open up enormous opportunities for your business at a time when the economy is strong.

6-Point Finance has been involved with a number of finance transactions of late where business owners across a wide range of industries have tackled their skilled labor frustrations from a different angle. Rather than bow to demand by paying ludicrous wages to new employees who (often) only add to your existing management headaches, many have bitten the bullet and purchased new equipment rather than employ staff.

To not be looking to grow in business is, in most cases, setting
your business up to go backwards. But, to keep up with consumer demand or to take advantage of new opportunities invariably means that businesses need to put on more staff; staff that simply are not around.

Equipment finance products such as leasing, hire purchase and chattel mortgage enable businesses to purchase capital items without the need for bricks and mortar security and free up your business cash flow.

Contact your 6-Point Finance consultant today to discuss your own equipment finance needs.