There’s not long to go until the start of the new financial year. So now’s the time to make best use of any remaining budget spend, advises Riverside Waste Machinery’s managing director Jonathan Oldfield.
“For many organisations, this is one of the most popular times to think about some crucial investments. With only a few weeks remaining in the current financial year, a number of businesses are keen to procure new products and services, before their budget is lost.
This perhaps goes some way to explaining why Riverside has received a large number of enquiries from public sector establishments such as local councils and hospitals, in recent weeks. Private companies can have similar budgetary frameworks of course, but the urgency is more commonly seen amongst government-funded entities. The reasoning seems to be that, if they don’t act now to make the best use of any remaining spending potential, they will miss out entirely on the opportunity to invest.
But that’s not the only reason why. February and March is also the time when many businesses finalise their budgets for the financial year ahead. This means that some forward-thinking firms are already in dialogue with potential suppliers, so that they can determine what level of spend they need to secure in order to invest.
In such instances, we try to be as helpful as possible, even going so far as to help waste managers, procurement managers and warehouse managers build business cases for the waste baler. We work through some simple cost saving scenarios to show that, by reducing waste collection and transport costs, the baler will have paid for itself within a certain amount of time. That’s before we even look at the possibility of generating a revenue stream from the sale of recyclables, not to mention us averting the hassle and potential hazard of waste storage.
For businesses looking to the year ahead, it should not be forgotten that, whilst waste balers can of course be purchased outright, they can also be rented too. This procurement option perhaps represents a more affordable scenario for some organisations, as the cost can be spread over a defined period, rather than upfront capital being required.
When budgeting for waste handling technology, it is also important to remember that used or refurbished waste balers may offer a more affordable investment route. In the last 12 months, Riverside has sold a record number of such machines. In some instances such sales have been to companies that are new to baling, whereas in other cases, we’ve sold to experienced, commercially-savvy organisations that know how long-lasting a well-engineered baler can be. We’ve started to buy a growing number of used balers too, because we know the demand exists.
I suppose to a certain extent, March is to some businesses what December is to others – a time to reflect on decisions made in the last 12 months, and plan for what lies ahead in the new year. It’s great that, for so many organisations, we’re a part of that planning process.”
If you need to build a business case for a new or used waste baler, would like to discuss your waste handling needs with one of our consultants, or have a used baler that you’re looking to sell, please call Riverside on 01423 325038 or email email@example.com.