How can finance help you manage your business’ vehicles?

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There are a few different options that allow us to help finance to manage your business’ vehicles here at WestWon. These include hire purchase, finance lease and sale & leaseback. If you would like to read more about these then see below. We can also finance electric vehicles (as well as their charging points) as we know that the future of fleet is evolving fast.

How can finance help you manage your business’ vehicles?

Hire Purchase – this involves financing a vehicle over a term (usually 1-5 years) with fixed monthly payments. These fixed rates ensure they stay the same throughout the agreement term. In terms of budget, this is the best option available to you, because you will know throughout the agreement exactly what you will be paying and when. However, it does depend on the cash flow of your business. Once you have paid the final instalment, and the terms and conditions have been met, the vehicle becomes yours.

Finance Lease – this is a tax efficient way to lease your vehicle. It’s a very efficient type of lease due to its flexibility and its benefit of not having to use other capital resources. The rentals are also fully tax deductible. When the lease agreement has ended, you have two options to choose from. You can either extend the agreement, however this will include a nominal secondary rental fee. Or you can profit from most of the net income from the vehicle.

Sale & Leaseback – there’s less risk with a sale & leaseback as well as it not affecting invoice discounts either. However, a sale & leaseback can only be completed on the basis the vehicle is refunded within 3 months of purchase. This is a crucial point to remember. What’s also different with sale & leaseback, we can lease the vehicle back to you. However, you will still have full use of the vehicle. Monthly payments are all tax deductible.

How can WestWon help?

Here at WestWon we offer a range of finance options. Leasing and finance can offer your business several benefits, and at WestWon with our 5* customer service, industry leading rates and dedicated account manager, we hope to be your first port of call.

Leasing and finance allows you to keep funds in your business and protect your cash flow. There is also no need to use up an existing bank facility and you can always have the latest equipment by implementing a recycling strategy.

There are also tax benefits, as when using a lease rental agreement, 100% of your rental is deductible against your company’s corporation tax. VAT is also paid in the rental rather than in full and upfront. There is also the question of why you are paying for the equipment in advance. You wouldn’t do implement this for your employees, so why do it for your vehicles and other business equipment?

Other assets we can finance

Here at WestWon we can offer finance options for several assets. All of which can be found on our assets we finance page. This includes assets like computers, software, furniture and fit outs, business loans, dentistry, and EV charging points.

In fact, not long ago, we wrote a blog on electric vehicle charging points which we now finance. To read that blog, click here. Alternatively, if you would like any more information on the assets we finance above, or any other services we provide, please reach out using our contact details below.

Contact Us

If you would like more information on how finance can help you manage your business’ vehicles, or any other finance needs you may have, then please don’t hesitate to contact us. You can email us on [email protected], or alternatively you can call us on 01494 611 456. You can also see more over on our LinkedIn page.

Next major green goal achieved!

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We have finally achieved our next major green goal of planting 10,000 trees in the WestWon Woodland! We are so proud to have reached this incredible feat and to be continually evolving on our green journey throughout the year. Reaching the milestone of 10,000 trees proves to us that we are one step closer to making a big difference for our planet. We hope that since we have started our green journey we have also been able to share useful tips that you can implement in your own office to help combat the current climate crisis. We can proudly say that we have learnt a lot on our journey! This includes the fact that planting 10,000 trees are equivalent to filling around 130 football pitches! However, we also know that we have a long way to go…

Looking to the future

We at WestWon know we still have a lot of work to do. As you may have seen before, the goals we set for ourselves are ambitious! We are aiming to plant over 100,000 trees in the WestWon Woodland within 5 years. This in turn means we will hope to offset around 7,500 tonnes of CO2 within these 5 years also. As well as the WestWon Woodland we are also implementing other things around the office which we hope will make a small difference within our green agenda.

We have been a paperless office now for over a decade, as well as installed LED lights. We have recycling bins, electric vehicles as company cars, and we encourage staff to walk to work or even use public transport as much as possible. Also, any paper we use is 100% recycled, and this is only used if absolutely necessary. In the future we hope to do much more for the environment. Even if they are small changes, remember they are impactful! If you would like to read more about our WestWon Woodland then you can do so here. This also includes a map of where all our trees are located all around the world!

Clean Air Day

As a part of our green journey, a lot of that is about education. On Thursday last week we were able to attend the Clean Air Day Event at Buckingham University, with Buckinghamshire Business First. We learnt so much about our planet as well as the detrimental impacts air pollution can have on us as individuals. We talked to several small businesses about how they have been mitigating the impacts of climate change, and the green choices they are making in day-to-day business decisions. If you would like more information on this, then please read our latest blog here.

Contact Us

If you would like more information on our next major green goal achieved, or any other finance needs you may have, then please don’t hesitate to contact us. You can email us on [email protected], or alternatively you can call us on 01494 611 456. You can also see more over on our LinkedIn page.

Clean Air Day 2022- let’s clear the air

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Today is the day that we bring awareness to our air pollution issues and the dire consequences that it has upon not just the health of the planet, but also humankind and wildlife.

Did you know that dirty air affects 97% of UK homes according to data from 2021? Air pollution affects us all, in and outside of our homes. Air pollution can cause an array of health issues, especially respiratory conditions. Ranging from asthma to lung cancer, the effects are becoming increasingly detrimental to us all. However, according to gov.uk the highest predicted disease to come of consistent exposure to moderate air pollution is coronary heart disease.

What is air pollution and why should we prioritise making it cleaner?

Air pollution happens when toxic gases, smoke and dust join forces with the air that then cause problems for all life on the planet as well as the actual planet itself. In fact, the thinning of the ozone layer was caused by air pollutants that come from manufactured chemicals. And even though UV radiation only accounts for a small percentage of global warming, it is still a component that we can avoid through reducing our use of solvents and propellants. And one of the most common propellants is the infamous CO2.

Carbon dioxide also indirectly impacts levels of carbon pollution through the warming of the planet. And as a result, smog is produced.

Nitrogen levels are also too high, and this has a knock-on-effect upon our wildlife. This is because pollinating insects get confused by its presence in the air and as a result miss out on up to 90% of their plant visits. Therefore, wildlife suffer due to a shortage of their food, nutrients as well as shelter.

What are we doing to reduce CO2 levels?

We have created the WestWon Woodland in our efforts to remove 7,500 of CO2 from the atmosphere by 2027. We are working towards this goal this through the planting of 100,000 trees across the globe. Within 6 months, alongside our customers, we have managed to plant just over 10% of our overall target.

We are also getting involved in an interactive local Business event centred around today. This is so that we can keep well informed of updates and new ways for our business to get involved in making a difference. We believe this will be a great opportunity for us to share green ideas with our local community of businesses.

How can you help?

We hope that our green agenda inspires other businesses to get involved too. No matter the size of your business, we can all help do our bit.

You may feel impotent as an individual with regards to saving the planet. But by applying a green mindset to your business as well as personal decisions, can contribute massively to a much wider impact. And it can not only help protect the planet, but some of these sustainable implementations can actually help you save some cash too.

Here are some budget friendly ways by which you can protect the future of our planet:

 

Renewable energy sourcing

Solar panels are the most cost-effective source of energy, especially considering the recent surge in energy bills. The sun is one of our most abundant sources of energy that isn’t due to go anywhere any time soon. So, you might as well take advantage of the life-giving beams whilst also saving yourself some pennies with incentivising ROIs.

You can read more about renewable energy sourcing here.

Install LED lighting

Similarly, by installing LED lightbulbs you are not only being more energy efficient, but also more cost efficient. LED lightbulbs are 90% more energy efficient than incandescent lightbulbs. Due to the energy and cost savings that they can provide you, they are well worth the consideration if you haven’t already!

Encourage greener commutes

This means perhaps setting incentives, or just generally motivating your employees to make their way to work sustainably. This could be opting towards public transport, walking, cycling, or even carpooling with employees that live nearby.

Alternatively, if possible, offer hybrid or remote working options for your employees. This will save them their trip as a whole!

Go paperless!

Going paperless is a great way for your company to save trees, money, and potentially space. We have been a paperless office for just over 10 years now and have never looked back.

In the new digital age, paper is no longer necessary in many offices where it is still used. Instead, by using cloud-based systems, all documents can be found in one place and no trees are harmed.

You may also find that by using this approach you will create more space that was beforehand used for file storage. And, depending on the volume of physical documents that you store, you may end up freeing up an entire room! This room could be used for a different purpose, or perhaps maybe bring in some extra income through letting it out. Not to mention the money you would save on the paper itself!

Recycling

Introducing a recycling system at the workplace is also a great way to get involved without breaking the bank. This will encourage employees to recycle waste at work as well as at home.

Contact Us

If you would like to learn more about what you can do to help clean our air and how we may be able to support you in doing so please get in touch. Give us a call on 01494 611 456, or send an email to [email protected].

Why leasing your software is better than buying

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Why Lease Software?

Many actually aren’t aware that they can finance their software. When leasing is mentioned, software leasing often isn’t the first asset that springs to mind. But by leasing your software instead of buying, it can put your business at a significant advantage to your competitors. Along with several other benefits that I will be listing in this blog.

So, what are the benefits?

Boost your cash flow health

To begin with, your cash flow will benefit. As you may know, software can be a costly overhead! Acquiring your software on finance will undoubtedly allow you to keep cash in the business that wouldn’t otherwise be there if you were to purchase your software outright. But, by leasing it, you can invest this money into other areas of your business such as recruitment.

Remain competitive

As mentioned previously, software is forever advancing! So, another substantial benefit to software leasing, is that you will be able to remain competitive in your sector. This is because you will be enabled to upgrade to the latest technologies on a regular basis through a refresh strategy. Whereas, by purchasing upfront, you are putting yourself at a disadvantage with a depreciating asset in your ownership.

Pay as you use

You pay your employees monthly, as they are adding value to your business. Why should any other valuable asset to your business be paid any differently? Software finance gives you the option to pay for your software just like you do for your employees, avoiding any damage to your cash flow.

Alternative funding line

Leasing is also great as an alternative funding line. So no need to use up an existing one!

Price lock your software

Additionally, with a software lease agreement you will lock in the price of the software over your rental term. This meaning that despite any price increases of your software throughout your term, the price will remain the same as it was from when your lease agreement commenced.

Tax benefits

Similar to many other lease agreements, VAT is not required to pay in full and upfront. Instead, it is distributed across your rental period along with the rest of your payment. (And, if your VAT liability is getting the better of your business, VAT loans are a great way to relieve that pressure off of your cash flow. Find out more about VAT loans here.)

Also, did you know that 100% of your lease rental is deductible against your company’s corporation tax?

 

Contact Us

Are you interested in obtaining finance for your software needs? Give us a call on 01494 611 456, alternatively, send an email to [email protected]. Here at WestWon we work alongside a myriad of software suppliers. So we can provide you with a recommendation that suits your business best, we are always happy to help! Visit our software leasing page to find out more about software leasing and use our free software leasing calculator!

Why renewable energy sourcing is the way forward

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Did you know a report published in 2017 revealed that just 100 corporations are responsible for over 70% of the world’s carbon emissions since 1988? Knowing that businesses are to blame for most of the planet’s fast decline is worrying. So, whether you’re an SME, or fully established corporate giant, we should all be looking to more sustainable ways running of our businesses. During this blog, I will be outlining some ways in which your company can make positive changes in favour of the planet.

The benefits of renewable energy for your business:

• A rather obvious one but, saving our planet. This should be in the forefront of all our minds. A great example of how much nature benefited from our absence was when the pandemic hit. A time when the world as we know it came to a halt. In the UK alone carbon emissions dropped by a whopping 48%!
• Positive PR for you. The increased emphasis upon our current climate crisis has pushed many to boycott giving business to non-sustainable brands.
• Improved return on investment. According to Forbes, renewable energy sources are giving much better returns than fossil fuels in the UK. Within a 5 year period, UK investments in green energy yielded returns of 75.4%, as opposed to only 8.8% for fossil fuels.

Types of renewable energy you should consider for your business:

 

Solar Panels

Solar energy is considered the cost effective of all renewable energy sources. Sunlight is our most abundant source of energy. Did you know that the amount of solar energy that hits the earth’s plane in just one hour is more than enough to source the world’s total energy requirements for a year? Just imagine the reduction in carbon emissions if all businesses transitioned to this clean and abundant source of energy.

However, we are mindful that solar panels can be fairly expensive to purchase upfront, despite the ultimate return on investment. That is why we believe finance is the best option for businesses looking to contribute towards a healthier planet, whilst also conscious of their cash flow health. You can learn more about solar panel finance and use our free lease calculator here.

Wind Turbines

Wind is also a bountiful source of energy and can generate power on a huge scale. This renewable energy source actually surpasses all other renewable energy sources in power. However, these energy sourcing giants have a hefty upfront cost. But this is where we can help. We can break this cost down into more affordable amounts with terms from 2-7 years. Learn more about acquiring a wind turbine to fuel your business through a finance option here.

Contact Us

Save the planet without compromising your cash flow with WestWon, give us a call today on 01494 611 456. Or, send an email to hello@westwon and friendly member of our team will get in touch with you.

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