Investing in specialist equipment for your small business

By: Victoria Harrison

Date: 22 November 2018

Investing in specialist equipment for your small businessAcquiring the right machinery for your small business is not to be taken lightly. Whether it's metalworking equipment, an industrial washing machine or a printing press, it potentially needs to be capable of being used every day, by multiple users, in the appropriate environment - and as such is a long-term investment that could be very expensive to get wrong.

Here are some of the things you need to consider when investing in specialist business equipment.

What you need it to do

Every piece of machinery you invest in must be designed to perform and built to last, otherwise further costs will be incurred in the future. Therefore, you need to also consider which suppliers you'll be doing business with, to find one that is reputable and provides proper customer care.

Compile a checklist of what you want your preferred machinery to achieve. Do you need it to be energy-efficient, cheap, and qualify for tax breaks? You can take these specific demands to suppliers directly, instead of surfing the web or browsing stores.

This isn't a home purchase; the performance of your business is riding on this. Approach different suppliers with your list of essential needs, then go from there.

Set-up and maintenance costs

While the initial purchase of quality gear can be a big hurdle to leap over, subsequent maintenance costs can be where the real expense lies.

Of course, eventually, whether you've bought your equipment second-hand or brand new, parts will begin to fail or show the strain. Every use will create further wear and tear, and considering your machinery may be used multiple times each day, it's essential to keep it well maintained.

It's worth factoring in the cost of regular maintenance before taking up what appears to be a cheap deal. No-one gives away a quality product for next to nothing, so really weigh up the risk factors before making your purchase.

Whether it fits in your premises

Obviously, equipment needs to fit into your premises in order to be usable. It is sometimes the case that SMEs get ambitious, and invest in a piece of machinery that will be suitable for their projected long-term growth, that is nonetheless entirely inappropriate for their current premises.

Consequently, you need to figure out not only how equipment fits into your budget, but also how it fits into your physical workspace.

Of course, health and safety plays a big part in business operations, and equipment can play a big part in this. If any machinery is too big, or obstructs walkways and creates narrow passages, then a different investment may be better for your business.

Your premises should only accommodate what they are comfortably able to, instead of what can be crammed or squeezed in.

Copyright © 2018 Article was made possible by site supporter Victoria Harrison