Dentist funding ambitions for 2020
Optimism is often a defining quality of the start of the new year – but how optimistic are businesses feeling?
According to research commissioned in the second half of 2019, dentists were relatively positive about their prospects over the forthcoming 12 months, with a quarter of dentists expecting their practices to expand compared to 19% who predicted they will either contract or close down entirely. The remaining 56% anticipated business would remain static.
On a more macro level, 62% of SMEs in the UK planned to seek funding for business investment within the year, which, despite the economic and political uncertainties experienced in recent times, is a figure that has remained surprisingly constant for a number of years.
On the subject of finance, a web search for ‘finance for dental practices’ will return a number of options for firms that cater specifically for practices. Whether a loan or asset finance is required, there are plenty of options.
What are the funding options available to dentists?
- Unsecured business loans are available to assist when you need to borrow funds to invest in your business
- Tax loans help to spread the cost of a tax demand into more affordable monthly payments
- Consolidation and refinancing loans help to combine various existing agreements, credit card balances and other regular finance repayments over a term to suit, easing cash flow
- Hire Purchase allows outright ownership of the asset and enables you to spread the cost over a term that suits you
- If you want to maximise the use of your equipment without the responsibility of owning it, Leasing will give you the freedom and flexibility you need
