Our green agenda – WestWon Woodland

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WestWon’s green agenda

Here at WestWon we are continuing to cultivate and expand our green agenda and promise to help fight climate change. From today we are launching our new scheme, WestWon Woodland.

We have teamed up with a company called Ecologi. They work with organisations like us to make it easy for businesses to contribute positively to the environment. Our scheme involves planting a tree for every month of a lease deal. Additionally, they provide a carbon offsetting service. This means Ecologi invest money into projects that remove more greenhouse gasses than our business produces. This is done through calculating their customers’ carbon emissions and planting the trees needed to neutralise those emissions. Ecologi will therefore help WestWon on our way to achieve the aim of becoming a carbon neutral company.

When starting our research to become a more sustainable company, we were doubtful as to how trustworthy some companies are. Ensuring that as a business your money is going to the right places, especially when it concerns the environment, is critical. After undertaking extensive research and speaking with their team directly, as a company we fully trust Ecologi. We appreciate their dedication to their transparency as a company. We were impressed by their paper trail of the impact they make up on their website. And we cannot wait to start our journey towards carbon neutrality with them.

Our goals

We have two goals to hit here at WestWon. Within the next five years we will have:

  • planted 100,000 trees in the WestWon Forest
  • reduced 7,500 tonnes of CO2 from the atmosphere

The benefits

Planting a tree for every month of a lease deal will indubitably create several benefits to the environment. Both around us and beyond. In an article by EarthShare, they provide 10 benefits that planting trees can produce for the economy. These include carbon sequestration, flood control and improvements in clean air. Every 100 trees contribute to around 7.5 tonnes of CO2 being removed from the atmosphere.

WestWon and its employees are becoming more eco-friendly and striving to one day grow into a carbon neutral company. It’s now your turn to do your bit for the environment.

There are a few ways in which we are doing our bit: we have recently implemented recycling bins on each floor of our offices. Meaning that now we are reducing WestWon’s overall general waste output. Additionally, as mentioned in a previous blog, we have been a paperless office for over a decade now. Also listed in this blog are ways in which you and your business can contribute to a healthier environment for us all.

How will it work?

  1. Once you have completed a lease deal with WestWon, you will be sent an email regarding the next steps of the tree planting process, which Ecologi and ourselves take care of.
  2. Once you have been sent an email, it’s time to start planting your trees in the WestWon Woodland. You can also be given updates about your trees, should you wish to receive them.
  3. And it’s as simple as that! We thank you for doing business with us. In doing so, you have helped us on our journey to becoming a business better equipped to helping the environment. We also hope you feel better about doing your bit. We hope you understand what positive impacts it will have on the climate.
  4. As an extra thank you we will be sending out certificates later on in the new year.
  5. On LinkedIn we will also be offering an incentive, so that for each post and tag you do when having received your certificate, we will be planting an extra 10 trees on your behalf!

Contact Us

If you would like more information on our green agenda then head over to our Contact Us page on our website to speak to a member of our team. Furthermore, if you would like to talk to us about getting involved then please call 01494 611 456 or email [email protected].

Deforestation – why is it so harmful?

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What is deforestation?

Deforestation is the process of removing parts of a forest or a large expanse of trees. The forest clearance is then converted to non-forest use land. Either by making it an urbanised area for buildings, or in some cases, making it grazing land for animals such as cows. Both are bad for their own reasons, some of which are covered later in this blog. According to studies, around 31% of the earth’s land surface is covered by forests. It’s imperative that we keep this number the same, if not grow it.

Current news about deforestation

The summit of COP26 is now over.  Here are some of the key outcomes of the conference with regards to deforestation.

The COP26 agreement has been signed by 141 world leaders to stop deforestation by 2030. The pledge led to around £14 billion of private and public funds being promised to help fund the scheme. However, the same pledge was committed to in 2014 and this failed. This is leading many experts to believe that this will end the same way. A portion of the funding will go to developing countries in order to “restore damaged land, tackle wildfires and support indigenous communities” according to a report by the BBC. 28 countries have also pledged to “remove deforestation from the global trade of…agricultural products such as palm oil, soya and cocoa.”

According to ukcop.org, the United Nations state that they are committed to working together to stop and reverse deforestation by 2030. If successful, the restoration of our forests will heavily contribute to the main goal of the conference. That being, to keep the average global temperature increase to well below 2°C- ideally to 1.5°C.

What are the disadvantages?

There are several disadvantages to deforestation. These include larger issues such as carbon dioxide release. This is when the trees that are cut down release all the carbon dioxide they originally stored. It also decreases the amount of oxygen in the atmosphere because there aren’t as many trees available to produce it. Releasing the greenhouse gas such as CO2 can have a damaging impact on the world, as it contributes to global warming. The next disadvantage comes from cutting down the trees to use it for grazing land for animals, like cows. The amount of methane that cows produce is a significant addition to the greenhouse effect. Decreasing the amount of oxygen in the atmosphere and replacing it with methane is a huge negative impact. Other major disadvantages include soil erosion, the destruction of habitats for all wildlife as well as a loss of biological diversity.

What can we do to stop deforestation?

There are several things that we can do as a society and in the workplace to help combat climate change. The first, more obvious way, is to plant more trees. This may seem impossible however there are companies that you can go to to help you do this. Just make sure you do your research first. You can also go paperless. Here at WestWon we have been a paperless office for over a decade, due to our highly advanced CRM system. Other ways to stop deforestation include recycling all products where possible and buying from companies who commit to reduce deforestation. As well as not buying certain harmful products such as palm oil and raising awareness in your community. Also installing LED lights (like we have) can make a significant impact.

WestWon’s new initiative

Here at WestWon we are planning on launching our new initiative on the 15th of December 2021. We will be releasing more information closer to the time. However, we are excited to start our journey and become a positive climate workforce. In the mean time, you can contact us if you would like any further information.

Contact Us

If you would like more information on deforestation or what we are doing to stop this, then please call 01494 611 456 or email [email protected].

How To Build Your Business’ Credit Quickly

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Want to build your business’ credit quickly and efficiently? Follow the steps below and you’ll be enabled to a range of funding.

Throughout this blog, we will be sharing our tips and tricks that if followed, will enable your business to funding and the best interest rates from lenders.

Building your business’ credit plays a crucial role in your company’s funding ability. Whether you operate as a sole trader, LLP or incorporated company, your business has the capability to establish a credit file separate from you as an individual person.

If you operate as a sole trader, it’s important to understand there is no legal or financial separation between you and your business. If that’s the case, when you apply for funding, all activity will be solely tied to you as an individual and reflected on your personal credit reports.

Covid credit score care

There is now extra pressure, now more than ever, to keep on top of maintaining a healthy credit score for your business. Many businesses of recent years have found themselves in need of loans due to the knock-on-effects from multiple lockdowns. So, should your business be put in the position of requiring a loan, in order to keep your business afloat, it is key to care for your credit score.  Not to mention- checking your company’s credit score should be a standard procedure to identify any potential fraudulent activities made to your business’ accounts. Further to this, unfortunately, according to statistics, fraudulent activity has propelled significantly during the pandemic. So catching this any signs of this early can make all the difference before too much injury is made.

5 simple steps

To keep your business and personal finances separate, the first step is to start building credit in your company’s name. If you want to build business credit quickly here are five simple steps:

Step 1 – Choose the Right Business Structure

Making your business a distinct legal entity requires you to select a business structure such as a Limited (incorporated) company, for example.

Once you form your business entity, the next step is to register your business with companies house. This particular step is dependent on your structure and where your business is located. Like many new businesses, your primary address might be in the name of your accountants address. As a first step towards healthy credit, this address will need to be moved to the premises of the business.

Step 2 – Obtain a business registration number.

When setting up the new business as a Limited company you will receive a company registration number from Companies House. This is an eight-digit number assigned to your company. This you will use for things such as filing company tax returns, opening a business bank account, applying for licenses and permits, and applying for business credit.

Step 3 – Open a Business Bank Account

Once you have your registration number, you’ll want to open a business bank account for your company. This is a mandatory step in creating a clear separation between your business and personal expenses.

Your banking relationships plays an important role in your company’s funding potential. Not only does your business bank account serve as a bank reference on credit applications, but it also provides key data that lenders use during any funding review.

Step 4 – Establish Credit with Vendors/Suppliers Who Report

One of the easiest ways to build business credit score is to apply for net terms with vendors and suppliers. As you buy supplies, inventory, or other materials on credit, those purchases and payments get reported to business credit reporting agencies such as Experian or Dun & Bradstreet.

This activity creates your company credit profile and business credit report. After your company has several credit lines reporting, a business credit rating (score) is generated.

Remember, it’s important to select vendors and suppliers that report to a business credit reporting agency. Each relationship you have also serves as a trade reference that can be used on future credit applications.

 

Step 5 – Monitor Your Business Credit Reports

There are a few business credit reporting agencies so it’s important to monitor each of your company credit files. Each agency collects data from various sources and may have different information about your company.

The good news is each of the business credit agencies provide a way for you to update basic information about your business. If you uncover any outdated or incorrect information, you’ll want to contact the agency to make the appropriate change.

With an established business credit report, it is probable that you will get higher credit approvals. Not only this, but better interest rates and repayment terms on loans and lines of credit.

It’s equally important to establish a diversity of accounts. This can be done with other types of business credit such as a business credit card or line of credit. Let these five simple steps serve as a starting point to building business credit for your company.

WestWon offers leasing arrangements for all types of businesses, from new starts to well established businesses. To find out how we can help you, please give us a call on 01494 611 456 or email [email protected].

Our new Client and Family pages

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Here at WestWon we have introduced our new Client and Family pages to our website, and we thought we would give you a bit more information about each one. Should you wish to have a look at our new Clients and Family pages, follow the links attached. They can also be found in the top of our website header.

Clients page

The first page we have developed is the Clients page. This was made to demonstrate to our customers and competition about our ever-growing client base of around 10,000 organisations. Our vast range of clients includes well known brands such as Pandora, KFC and Honda. It also includes numerous football and cricket clubs including Leicester City Football club and Kent Cricket. We also thought it was important to include our number of clients and agreements written, to show that business is busier than ever before!

We have also included case studies and testimonials written by our clients. Our current case studies currently include those from ECR Solutions, Wysetech and General Lamps. At WestWon, we make sure customer satisfaction is always at the highest possible level it can be. This is also why when customers feel so thrilled with their experience that they leave a review, we like to show others their experience. We also have a list of testimonials at the bottom of the page. These are all taken from our new partnered review platform, Boom Reviews. This site allows us to send out review requests to customers after doing business with them. We then feed these through to our Client’s page. We currently have an overall 5-star rating, with over 160 reviews on the platform. This number will just keep rising!

Family page

We have also developed our new Family page, which can be found in the drop-down section of the About header on the WestWon website. This encompasses all WestWon’s affiliated companies. This includes sister companies such as Scaffold Finance, acquisitions including Tech 5 and Capex, brands like Fish Fryer Finance and Leasing Calculator or a business that WestWon has a small equity stake in. We currently have around 20 organisations and cannot wait to involve more companies to help them and us grow in the future.

Contact Us

If you and your business are interested in becoming a proud affiliation of WestWon, do not hesitate to contact us. A member of our team will be more than happy to assist. Alternatively, if you would like more information on our new Client and Family pages mentioned in this blog, call us on 01494 611 456 or email [email protected].

Why lease for your office furniture and fit-out business?

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Benefits of leasing for your office furniture and fit-out business

There are several benefits of leasing in regards to your office furniture and fit-out business. Many of which are key reasons why businesses turn to financing their equipment. These include; significant tax benefits and flexible rental terms generally over two to five years. You can also pay for the interior project over its useful life and not all in one go. You can also preserve existing lines of credit, and leasing makes monthly budgeting easier, meaning you do not compromise your interior project due to budget constraints.

Why choose WestWon?

Here at WestWon one of the things we pride ourselves on the most is the range of assets we can finance. In the office furniture and equipment sector we are no different. From modern desks and coffee machines to IT systems and commercial printers. One of the many good things about leasing in this sector is that because every office and client is different, we can easily tailor our agreement to your business. Financing an interior project is usually one of the largest projects that you and your business will invest in. So making sure you have the right process in place can be difficult to find. Financing all aspects of a project is essential, especially when this is an interior project.

Wanting to make your work space the best it can be is so important. So financing all the right equipment all in one place can be hard. However, at WestWon you can finance all these aspects of an interior project. This includes; office furniture, fit out and renovation costs, audio visual and other infrastructure and dilapidation expenses. It also includes HVAC, mechanical and electrical engineering as well as office partitioning (floors and ceilings).

Contact Us

If you are interested in leasing office furniture or equipment and would like to have a chat with a member of the team, contact us on 01494 611 456 or email [email protected]. You can also see more over on our LinkedIn page.

COP26 – what does it mean for UK firms?

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Currently, the world is in a major climate crisis. The Earth’s temperature is rising. Studies show that temperatures have risen by 0.08°C per decade since 1880. This may not seem like a lot but the rate of warming over the past 40 years is now more than twice that. This shows a rapid incline of global warming. This is one major reason that the COP26 talks are currently taking place between the 31st of October and the 12th of November. COP26 stands for Conference of the Parties and is attended by all countries who signed the UNFCCC. This is the United Nations Framework Convention on Climate Change. This agreement was agreed upon and signed in 1994, and the 2021 meeting is their 26th, hence why it is called COP26. This blog includes what COP26 means for UK firms and what we are doing about it.

What have they agreed on already?

Already there have been some promising starts to the meeting. These include:

  • World leaders vowing to halt deforestation. This will be done as they have outlined in their plan by conserving “forests and other terrestrial ecosystems and accelerate their restoration.”
  • The US President Joe Biden has pledged to cut methane emissions by 30% by 2030. This was hailed at the meeting as one of “the most immediate opportunities to slow global warming.” Since his pledge, around a further 100 nations have set a target for themselves to also reduce methane emissions by 30% by 2030.
  • Joe Biden has also re-joined the High Ambition Coalition. This has the main aim of achieving the limit of a 1.5°C increase in the world’s temperature.
  • The Glasgow Breakthrough Agenda has also been agreed on by several countries. This aims to coordinate the introduction of clean electricity and electric vehicles among a number of other technologies. It works by rapidly reducing the cost of these.
  • In addition, African countries have also pledged to spend around $6 billion on adapting to climate impacts. They have also been asking other countries to help provide them with $2.5 billion a year for the next 5 years to help them reach their goals.
  • Lastly, several countries, including the UK, have signed a new agreement of $8.5 billion for the Just Energy Transition Partnership with South Africa. This will help reduce the country’s need for using coal, and hopefully enable them to introduce more renewable energy options.

What does COP26 mean for UK firms?

COP26 has also pushed the importance of involving businesses in the goal of becoming net zero by 2025. Boris Johnson has told most large UK firms and financial institutions that they will need to show their plans to move to a low carbon future by 2023. According to a BBC News Article on the COP26 agreement and what it means for UK firms, the commitments aren’t mandatory. This has angered several ‘green groups’ who say this isn’t enough in the long term. UK Chancellor Rishi Sunak has said that he wants and believes the UK will be the “first-ever net zero aligned global financial centre.”

What is WestWon doing about this?

WestWon is committed to helping the environment so that we can do our part in the fight against global warming. We have found the best way to do this, in an efficient and credible manner. We believe it’s by planting trees to reduce the amount of CO2 in the atmosphere. Here at WestWon we will be launching our biggest initiative on the 15th of December 2021. Above all, we cannot wait to start doing our bit for the environment and reduce global warming on Earth.

Contact Us

If you would like more information on anything you see above, do not hesitate to contact us. A member of our team will be more than happy to assist. Alternatively, you can call us on 01494 611 456 or email [email protected]. You can also see more over on our LinkedIn page.

WestWon complaints handling procedure

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Here at WestWon, we pride ourselves upon our level of customer care and quality of service. Therefore, we take all complaints very seriously. So, if there is any way by which you feel we could improve we would like to hear from you. We appreciate any form of feedback as we are always looking for ways in which we can advance and develop.

Our complaints procedure

To aid us in resolving your matter as swiftly as possible, please direct your complaint towards the department in which you have been dealing with. You may express your concerns via email, telephone or in writing. We will try our best to process your complaint immediately. Contact details for all previously listed contact methods can be found below. However, sometimes this is not possible. Therefore, please allow up to five days for us to proceed with this. We will then perform a full and impartial investigation for any issues you raise.

The nature of all complaints and our actions in resolving the problem are entered on to our internal database system. You will then be provided with a unique complaint reference number. Our compliance officer will then write to you with the outcome, this will either be by email or by post. We hope that the response will be satisfactory to you. If so, we will then close off the complaint. However, if this is not the case, a WestWon director will review the situation to see if any further action can be taken.

Received our response and still dissatisfied?

If you have a regulated agreement with us and are not satisfied with our final response, you may be eligible to refer the matter to the Financial Ombudsman Service. However, you must do this within six months of our final response. If you are not satisfied with our response, we will refer the matter to the FCA 8 weeks from the initial complaint (if no final response has been received) or if the final response has been received and you (the customer) are not satisfied. The service is free of charge, and they can be contacted via their website. This does not affect your statutory rights.

How do I register my complaint?

To register your complaint please contact us by one of the three methods listed below:

  • Email: [email protected]
  • Telephone: 01494 611 456
  • Post: The Compliance Officer, WestWon, 18 Manor Courtyard, Hughenden Avenue, High Wycombe, Buckinghamshire, HP13 5RE

How do I leave a review on my experience with WestWon?

WestWon have partnered up with Boom Reviews. They are a review platform whose mission is “to bring people and companies together to create experiences for everyone.” So, for every deal we make we offer our customers the opportunity to voice their opinions on us and our service on to this platform. We welcome all feedback!

The biggest challenges for businesses post-lockdown

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Within this blog I will be listing the biggest challenges that businesses will face post-lockdown. Now that national restrictions have been eased and we all strive to get back to normality, here are some matters we should all be aware of.

Employee Health Checks

The top priority for business leaders returning to offices post lockdown should be sustaining employee well-being. The absence of employees due to self-isolation periods have had huge effects on revenue. So, most companies (where feasible) have kept their operations running by going remote. Although, this might not be a viable option for your company. Or you simply might choose to get back into the swing of things, this is where you should be attentive and on the ball with regards to your Covid testing and precaution procedures. It won’t only ensure the health and safety of your employees but also benefit you long term.

Loss of connection

Getting back into the office even if you can work remotely is not a poor choice. It is important for many to get back to the more social way of life in the office. After all, in a survey conducted by Motivates, respondents were asked what the top five things that motivated them were:

  1. I have a good work life balance
  2. I have great peers
  3. My boss is good at saying thank you
  4. The office environment
  5. I have a motivating manager (Employee Benefits)

The loss of everyday social interaction can have detrimental effects upon the mental health of employees and can also be demotivating. Even now, for many, the richness of social interaction has succumb to zoom meetings.

Lack of Supplies

Many companies are still facing issues with lack of supplies due to the halt of production in China. Therefore, there is a global struggle with shortages after the easing of Covid-19 restrictions as prolonged disruption to international shipments, production stoppages and a lack of key components collides with increasing demand for goods and services. However, more nationally, Brexit and its disturbances upon EU trading have also had an impact upon these shortages.

Communication

Business leaders are having to examine the entire chain and resolve any part that may have collapsed during lockdown. It has been easier for executives to lose touch with what is taking place in different areas of the business as everyone is no longer in the same space. This places more importance upon leaders actively ensuring that they are updating themselves with the whereabouts of business movements- whilst also providing enough information to employees. Therefore, communication is key now more than ever.

 The New Normal

As much as everyone is trying to resume to normality, there are lockdown life habits that will stick around that will affect businesses for months to come.

These include:

  • People are more cautious with their money now due to the economic uncertainty.
  • Restaurants will suffer where more people want to stay safe and continue to get home deliveries instead of sitting in.
  • More people are online shopping now; so, brick-and-mortar stores will suffer from this shift.
  • More people are choosing to work remotely indefinitely as the pandemic has proved it possible.

These are just a few examples of consumer behaviour that will continue beyond lockdown. The pandemic has forced companies into a virtual realm in which many will remain.

For funding support in these strange times please don’t hesitate to get in touch. Give us a call on 01494 611 456. Alternatively, email us on [email protected].

How asset finance helps you manage your Optical business?

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Here at WestWon we have several finance options that could help your optical business to grow. Whether it’s to acquire a new practice or purchasing new optical equipment and furnishings for your optician’s practice. At WestWon there are over 50 UK funders that we can work with to provide you with industry leading rates. At the same time, we can work with a supplier of your choice or recommend you with one and source the equipment for you.

Why choose WestWon for your optical business?

  • At WestWon you receive a decision within 24 hours, making the process quicker and efficient.
  • Here at WestWon we have industry leading rates from 2.5%.
  • There’s a 95% acceptance rate, so if your business meets all the necessary requirements, there is a very high chance that you will be accepted.
  • We pride ourselves on our 5* customer service that we provide to all customers.

Types of loans for opticians

Here at WestWon we don’t just finance optical equipment but also help you grow your business by providing you with loans. These include Professional Indemnity, VAT and Corporation Tax loans.

Professional Indemnity loans for opticians:

If you are looking to finance your professional indemnity loans, WestWon offer repayment terms between 3 months and a year. All you, as the client, needs to provide is the quote for the insurance and the loan term, then we can send you back a finance quote. This process will take a couple of days from your initial application through to paying your fees.

VAT and Corporation Tax loans for opticians:

At WestWon we can pay HMRC on your behalf after seeing your liability to pay VAT/Corporation Tax. This leaves you with the option to fund other investments to aid the growth of your business. This is because you know that this cost has been taken care of for you.

Contact Us

If you would like any information on the above details, or about optical finance in general please call 01494 611 456. Alternatively, email [email protected] for a free and quick finance quote.

Introducing the Newest Members of the WestWon Team

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WestWon are pleased to introduce the newest members of our team! We are currently expanding our team and have six new additions to our High Wycombe branch.

With two new additions to our sales team: Georgia and Freya- both bubbly and personable characters; we believe they will flourish in their new positions and enhance our business.

Additionally, we have also relaunched our marketing team with two youthful creatives in hopes of creating more of an innovative and vibrant brand image for our company. Marketing enables us to engage with clients, as well as prospects, promotes the growth of our business, and allows us to apply all different forms of marketing aspects into our work to reach a better outcome. An effective marketing team is key to any business as advertising is what attracts new clients in; therefore, as a company, we have chosen to place more importance upon this aspect of our business.

Furthermore, we have added two new business development managers: Imma & Nathan. Whom we believe will drive our business growth high!

A bit about our new sales members:

Georgia joined our sales team in March this year. Previously, Georgia worked for two years in recruitment which gave her the customer service skills that she uses competently everyday here at WestWon in her role as a corporate account manager. She spends her working days building and maintaining relationships with clients and caring for our existing clients by keeping in regular contact with them and meeting any new requirements of theirs.

newest members of the WestWon team

 

Freya joined our sales team in July. She works specifically for the furniture leasing sector. With a background in IT recruitment, this has given her great customer service and telephone skills in which she uses daily at her sales role here at WestWon. In Freya’s spare time she enjoys spending time with friends and family, she also has a passion for cooking.

newest members of the WestWon team

 

A bit about our new marketing team:

Millie is currently on a work placement year, away from studying Business Management and Marketing at Nottingham Trent University. Her passion for marketing has been driven by her course as well as wanting to learn how it can be integrated into a business, and WestWon is a large step in terms of her reaching this goal. Millie enjoys taking part in her university cheerleading society and spending time with family and friends.

newest members of the WestWon team

 

 

Jessica joined in July this year to embark on a career path in marketing. She believes WestWon is the best place to pursue her creative ambitions in marketing, with our nurturing and helpful team to support her growth. In her spare time, she enjoys activities that unleash her creativity, such as: reading, photography, sketching and spending time with friends.

newest members of the WestWon team

A bit about our new business development manager:

Nathan recently completed his course in Sports Science at BCA college. Whilst studying, he worked in hospitality where he gained experience in customer service; a skill that he now applies to his role here at WestWon when dealing with customers daily. In Nathan’s spare time, he enjoys playing football and spending time with friends and family.

 

Contact Info

If you would like to reach out to any of our newest team members or any professional we have here at WestWon, then please give us a call on 01494 611 456. Alternatively, email us on [email protected].

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