When was Scaffold Finance set up?

Scaffold Finance was set up in August 2021 as a trading name of First Leasing UK Limited. It is now known as the ‘UK’s only leasing and asset finance company solely specialising within the scaffolding industry.’ However, our Managing Director Carl, has been working alongside those in the scaffolding industry for over 7 years now. Throughout those he has built and developed relationships as well as helping customers with thousands of finance agreements! Scaffold Finance has grown throughout the year, and we have picked up a few key bits of knowledge along the way. More about that below…

What have we learnt in our first year in business?

Being in the first year of a new business can be a daunting prospect. However, there are a few key things we can share with you to make it a little less overwhelming!

Budget

It is so important to budget in a business, especially in the first year. Your cash flow can take a big hit in the first year, due to all the start-up costs that come with running a business. Many of these are costs that you may never have had to deal with before. This makes it even more scary and can be hard to deal with. Making sure you have enough cash in the business whilst there is a large amount pouring out can be tricky. However, there are several finance options out there to help you. We are obviously biased, but leasing and finance will help if you wish to have extra cash in the business, or if you are starting from scratch with all new materials. If you would like to discuss your finance options with us, then please contact us using the details below.

Build your network

As Carl has been in the asset finance industry for 9 years now, and working with scaffolding companies for the past 7, he knows how to cultivate relationships with new and existing customers. Building a network of people around you can be essential to the growth and success of your business. Platforms like LinkedIn and Instagram can be excellent for this. Depending on the needs and target market of your company, choose the right platform for you. Here at Scaffold Finance, Instagram and LinkedIn have been key platforms to connect with people and keep in touch with contacts we meet along the way. It’s great for brand image and to get your company name out into the world!

Specialise

Never try and do everything at once. Focusing on your main products or services maintains the theory that less is more. If you try and offer your customers everything without focusing on a specific service or industry, it can lead them away from your company due to complexity. Therefore, we only provide finance to those within the scaffolding industry. It narrows down our target market and allows us to focus our attention on existing and any new customers. It also provides us with an added USP, setting us apart from other similar organisations in the sector.

Be patient

It won’t all happen in the first few months! Sometimes building a brand can take time. However, this doesn’t mean that the company won’t succeed. Another added benefit of leasing is that it is mostly used to enable businesses to grow. We are on hand to help you with any of your finance needs, including with assets such as business loans, technology, and all scaffolding equipment. If your business is looking to grow, even within those first few months, then get in touch. We can provide finance for several assets and can tailor the agreement to suit you.

What is next for Scaffold Finance?

There are many exciting things happening here at Scaffold Finance. We are looking forward to continuing our work with the Lighthouse Club as well as benefitting from our involvement as an Associate Member of the Scaffolding Association. If you would like to keep up with everything happening, then please connect with us on our social media pages. Our Instagram and LinkedIn pages are both easy to find and follow! Alternatively, you can get in touch with us by using our contact details below.

Lastly, we would like to say a big thank you to everyone who has supported us throughout the year. This applies to all existing customers, partners, and suppliers. We look forward to welcoming and developing new relationships and bring on the next year of business!

Contact Us

With our team of experienced leasing experts, Scaffold Finance should be your first port of call for all finance enquiries. If you have any queries about our first year in business, please feel free to get in touch. Email us on hello@scaffoldfinance.co.uk or call us on 01494 506 383 to find out more about how Scaffold Finance can help you.

Here at Scaffold Finance, we are partnered up with (and have been for some time now) a peer-to-peer lender. This very reliable lender can assist us in arranging finance for several unsecured business loans. These business loans can be used to cover all areas of your business. Whether you are a new start up or a well-established company there is always room for finance! As seen in one of our previous blogs here, the benefits of leasing & finance are vast. For more information on why you need business loans to aid growth in your company, please read on…

What is a business loan?

A business loan is, nice and simply put, a loan for businesses! It is the process of borrowing finance which is then repaid with interest. This is normally paid in fixed monthly payments. Here at Scaffold Finance, we usually spread this over a term of 1-5 years. This is one example of how we can tailor the agreement to meet your finance needs. If you would like more information on how we can help, please contact us using our details below.

VAT Loans

VAT Loans are probably the most common and popular loan we tend to help finance. These are any loans that are used to repay a company’s VAT bill. The process is simple and easy to go through. It works whereby we pay HMRC directly for you. This means there is no hassle on your end of the agreement, and we can take care of all the admin for you. We also have a free-to-use VAT calculator on our VAT Loans page, which can be found here. This allows you to see the finance options for any amount spread over a 3-month period. For any further information or quotes, please don’t hesitate to contact us!

Corporation Tax Loans

The Corporation Tax Loans process is very similar to the VAT Loans process, whereby once you have signed the agreement, we process the information. This includes everything from the amount, the term and how much the repayments will be. We then arrange for HMRC to be paid directly. This comes from the bank using your own tax reference. The main potential information we may need from you consists of company accounts, management figures and your companies’ last 3 months bank statements. All of these should be ready to hand, therefore not a difficult process to retrieve.

Working Capital Loans

These types of loans are normally used to fund everyday costs. This includes things like rent, employee salaries and any operational costs that are necessary and regular in your business. They are normally used to cover small gaps in your cash flow, when the business has hit a slow patch or even when there are larger projects on the go that need your cash more urgently. Here at Scaffold Finance, we can offer you industry leading rates as well as a tailored agreement to suit your business.

Dilapidation Loans

These loans are normally used when a company moves office. However, they can be used for other uses and includes large projects that businesses may forget to set out a bigger budget for. This also includes repairs and expenses including soft strip out furnishings, the removal of partitioning and the changing of lighting as well as much more.

We also offer finance for other business loans, so if you do not see the one you need listed, do not worry! We are on hand to help you with all your finance needs and if you get in touch with us a friendly member of the team will be happy to talk you through your options.

Contact Us

With our team of experienced leasing experts, Scaffold Finance should be your first port of call for all finance enquiries. If you have any queries about why you do need business loans, please feel free to get in touch. Email us on hello@scaffoldfinance.co.uk or call us on 01494 506 383 to find out more about how Scaffold Finance can help you. You can also see our LinkedIn page for more information.

Ensuring safety on a scaffolding site is crucial. There are numerous risks that come with the job. However, by following the safety protocols listed below most of these perils can be avoided.

Training

Scaffolders carry out numerous tasks on scaffolding each day. And it goes without saying that risks come with the job, especially when thorough training has not been provided. That is why the importance of proper training for scaffolders should not be undermined.

We cannot emphasise the importance of staff training enough. It is vital that all employees on site are competent in the work that they are carrying out. This means providing training tailored to each individual job role.

It is also key that proper supervision is given depending on the level of training and competence that the employee has underneath their belt. At the very least, each working group should include one experienced and capable scaffolder for the complexity of work being undertaken. This way, they can advise and supervise others that are less experienced in that area.

For basic or complex structures, erection, alteration, and dismantling of scaffolding should be done under the supervision of an advanced scaffolder. And it is important that scaffolding operatives are given frequent updates on any changes made to scaffolding safety practices and guidance.

Inspection

It is essential that the scaffolding is inspected by the users as follows:

• Before first use of scaffolding
• Within 7 days after installation
• After any circumstances that could potentially affect the safety of the equipment. For example, high winds.

All inspections should be carried out by those whose knowledge and training directly correlates to the complexity of the structure at hand.

What protocol should the inspection follow?

• All defects should be noted and reported.
• Restorative actions should then be carried out before using the scaffolding again.

Potential hazards that can be avoided

Falls

Did you know that scaffolding is one of the most hazardous careers in the UK? With injuries incurred from the job accounting for a whopping 29% of all workplace deaths in the country according to scaffmag.com.

The easiest way to prevent falls is to implement high-quality guardrails to your sites. Another way to ensure safety on site, is to make sure that if a worker is at a height of 10 feet or higher, that they are using a personal fall system.

This should be the responsibility of both contractors and builders to implement and follow these stringent safety rules.

Collapse of scaffolding

Scaffold collapse generally happens when the structure is constructed using low-quality materials.

We understand that scaffolding can be costly. So many scaffolding companies feel as though they have to compromise the quality of materials to avoid damage to their cash flow. But this is where we can help, with Scaffold Finance you can have your cake and eat it. With our finance options you can spread the cost of high-quality materials over the course of 2-5 years. We can put together a finance agreement best suited to the needs of your business, combined with affordable industry leading rates. No need to negotiate safety for cash flow.

Another way to avoid injuries and fatalities on site is to ensure the application of proper access to scaffold platforms. For example, if the vertex between an upper or lower elevation exceeds 24 inches, workers should use a secure ladder, stair tower, or ramp to access platforms.

Contact Us

Get in touch to find out more about how we can help finance a safer site. Give us a call on 01494 506 383. Or send an email to hello@scaffoldfinance.co.uk, and a member of our team will be in touch shortly. We also work alongside a range of suppliers. Therefore we can provide recommendations should you need guidance on where to obtain high-quality equipment.

The benefits of leasing and financing your scaffolding equipment are copious. Not that we are bias, but many aren’t actually aware of the benefits that a finance option can offer. During this blog, I will be listing just a few of the key perks that financing can provide your scaffolding business.

Cash flow

Obtaining finance is one of the most effective ways to free up your cash flow. Finance allows the preservation of cash that can be used in other areas of the business.

Tax benefits

Leasing can provide significant tax benefits for your business. Did you know that 100% of your lease payments are deductible against your company’s corporation tax bill? Learn more about the tax implications of leasing here.

Cheaper than hiring

Not only is leasing usually cheaper than hiring, but depending on your chosen agreement type, you are also given the option to own your equipment at the end of the term. This meaning that you can still profit from the equipment, allowing you to remain competitive for your future deals.

VAT

Instead of in a lump sum like you paying upfront, your VAT is spread along with the asset payments.

Access to the latest equipment

Through a leasing recycling strategy, the latest equipment is made affordable. A recycling strategy means that you can renew your equipment at the end of your agreement term. Allowing you to gain a competitive advantage in your industry.

Alternative source of funding

With scaffold finance, there is no need to use up an existing bank facility. We also believe that our service is a lot more personalised and attentive than you would receive from a mainstream bank.

Contact Us

Should you have any questions about benefits of scaffolding finance, please get in touch. Give us a call on 01494 506 383. Or send an email to hello@scaffoldfinance.co.uk and a member of our sales team will be in touch shortly.

What is asset finance?

Asset finance, more specifically scaffold finance and leasing, ensures UK businesses acquire essential assets for their company by spreading the cost over a term, usually 1-5 years. It enables scaffolding contractors to access the funding needed for their materials and equipment. Here at Scaffold Finance this ranges from vehicles, scaffold materials, technology and even business loans.

Is it just hard assets you finance?

No, as mentioned above we offer finance for a range of assets. This includes most scaffolding materials from tubes, boards, and modular buildings to technology such as drones, CCTV, and IT hardware, to vehicles such as vans and trucks as well as business loans in the form of VAT, Corporation Tax and Professional Indemnity Insurance. For more information on what we can finance, please see our assets we finance page.

Can I finance scaffolding materials sold by another contractor?

Yes, you can. However, it depends on a couple of criteria. The company you are purchasing them from must be a reputable business. You must also make sure they can provide the finance company with an invoice.

What do I need to do to apply for scaffold finance and leasing?

Applying for finance via Scaffold Finance is very easy. All that we will require is your company name, the cost of the asset, your latest set of year end accounts and your last 3 months business bank statements.

I have recently set up my scaffolding business, can you still help me?

If your business is a ‘new start’ (trading for less than 2 years), you’ll need to have clear personal credit history, be a UK homeowner (or have a third party guarantor who is a UK homeowner) and provide a Directors Guarantee.

Do I own the materials at the end of the agreement?

Yes, you can own the materials at the end of the lease agreement. Once you have paid your monthly payments in full and terminated your agreement, there is a nominal fee to pay. Once payment has been received, the ownership of the materials can then be then transferred to your company.

Contact Us

If you would like to see more scaffold finance and leasing frequently asked questions, then please visit our leasing hub page. You can give us a call on 01494 506 383. Alternatively, get in touch with us by sending an email to hello@scaffoldfinance.co.uk.