“Everyone is busy”
1 April 2021
I’ve spoken with a number of hirers recently who want to gear up in readiness for increasing business levels as the lockdown restrictions ease, but they are finding some machines in short supply.
Reasons include disruption to global supply chains leading to delays for components, or sheer demand because of the bounce back.
Anglian Asset Finance says that this is resulting in very brisk business. The operation was established last year by Joe Paterson, managing director of the independent hirer, Anglian Plant, based near Norwich.
“Many companies are finding it difficult to source equipment, with some manufacturers quoting long lead times. And when machines do become available, they want to be in a position to buy them quickly so that they have it when it is needed, rather than missing out,” says Joe.
“Since last July we have funded just over £2m worth of plant and vehicles. We did £0.5m in February alone. Clients include hirers, builders, contractors, ground workers and private individuals. We also get a lot of referrals from local machinery dealers that we have good contacts with.
“Our USP is that we understand the equipment and the finance needed because we have so much experience of buying kit ourselves,” says Joe. “We know more than just the numbers: we live and breathe machinery and know our rubber ducks from our jumping jacks! We know a good deal when we see one.
“Everybody we speak with is busy. Our region is seeing a huge growth in new-build housing at current and the talk of several significant infrastructure projects brings confidence to the sector,” continues Joe.
“The spring Budget offered several very good stimulus measures including 95% government backed mortgages, stamp duty break extension and super-deduction capital allowance, all of which would indicate an immediate buoyant future for our industry.”