Wise to keep cash options open

摘要

The decision on where to go to finance the acquisition of new equipment often comes down to a choice between immediate convenience and the potential for long-term disadvantage.Many contractors opt for the convenience of using their main banker to cover their equipment finance needs, but to Phil Botsis, managing director of leading Western Australian finance packager Ledge Finance, this is the equivalent of putting all your eggs in one basket."We recommend to our clients to use their bank for their working capital needs only," Botsis said. "That way, if you have a hiccup in your business, you can go to the bank for a temporary increase in your working capital."