The 2024 forecasts by sector
The big question: Where are the pockets of opportunity that might drive equipment finance volume in 2024?
By the numbers: Based on our survey of over 5000 smaller businesses, the top five industries forecasting capex growth are:
Behind the numbers:
- Onshoring manufacturing has led to more US manufacturing starts in the last 18 months than any comparable period since the 1980s—leading to growth in machine tool and material handling.
- Over $1T in government infrastructure spending will find shovels and sub-contractors in the first quarter of 2023, powering construction forward.
- Higher interest rates have people running cars longer, requiring more maintenance.
- The flood of tech hardware needed for remote work technologies in 2020 are now aging out and requiring replacement.
Why it matters: When capex is required amid budget limitations and tighter credit, brokers are uniquely positioned to win.
- Attacking these areas with a long-time funder of the broker channel with strong specialty in small-ticket transactions might help.
TimePayment can help. With flexible monthly payment options for equipment needs starting at $500 and reaching to $500,000 and beyond, you can trust our flexibility to get deals done for vendors struggling to find capital solutions right now.
Seize the opportunity: To discuss a vendor opportunity, reach out today. Or sign up now to get started.
*2024 Sawbux Greenwich Study of Commercial Finance Decision Makers
