Under-used equipment could be costing companies thousands of pounds, AssetTrader reports
Harvesting equipment, tractors, or excavators sitting around work sites, farms and warehouses are not just unsightly: they could be costing company owners thousands of pounds, a study recently revealed. The research, performed by online marketplace AssetTrader, shows that when agricultural or construction businesses allow their assets to go unused for more than 50% of their work span, they become a huge drain on resources in storage and depreciating costs. These gradually accumulating losses are a particularly unwelcome factor in our times of financial turmoil and economic uncertainty.
However, the scenario is not so bleak after all. On the positive side of things, the study also shows that if companies either increased the usage of their equipment by only 20% or sold the equipment on, this would translate to an 8 bn pound cash injection into the UK economy. On a large scale, these practices would trigger a massive 1% boost in the GDP. In fact, the losses associated with under-used equipment could be otherwise converted into huge reserves of cash that are currently tied up in the assets.
Eric Usher, CEO of AssetTrader, says: “Many companies we deal with have tens of thousands of pounds tied up in items they are not using. They just don’t have the time or the knowledge to be able to offload the equipment in an easy and rapid way. We feel it shouldn’t be that difficult, and this is why AssetTrader strives to make the process extremely user friendly. Basically, we undertake the commercial process for our users by selling and buying used equipment on one portal.”
Turning industrial assets into cash is not the only service online marketplace AssetTrader is able to offer its customers. Eric Usher points out: “Some businesses contact us not only to sell something, but also to buy a used machine that is more appropriate for the applications they need. Here we are starting to see a significant increase in the number of people looking to purchase good quality used equipment"
The way this online business works is pretty straightforward. Basically, the seller contacts AssetTrader in order to get a personalised mini site with company profile and regularly updated stock list. At the other end of the deal, the buyers enquire about the availability of general or specific items to be delivered to a particular city. Enquiries are matched with a seller sorted by location or relevance. AssetTrader thus facilitates the trading procedure by filtering out spams, making sure contact details are active, and enhancing the company’s visibility on the World Wide Web through SEO strategies.
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With over 5000 registered users, AssetTrader is a leading online trading hub for used and new business equipment. It holds a regularly updated inventory of agricultural, manufacturing and construction machinery available for sale from major dealers and private sellers through to original equipment manufacturers. Headquartered in London, UK, AssetTrader brings together traders from the USA, Europe, Latin America and Asia.
For more information on AssetTrader, please visit www.assettradernet.com
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