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To me it seems financially irresponsible to NOT buy (finance) a piece of equipment if it dramatically increases your efficency. Especially in this industry, which has a finite number of days each year to work and a finite number of potential good employees. If you see a need for a new piece of equipment but you're afraid to borrow and, therefore, decide to save and wait a few years to pay cash for that piece of equipment, you are also losing out on the increased efficency (profit) during that wait period... Also, add to that the increased physical wear and tear on you and your employees.
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