Step into the world of WestWon Rewards!

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We are pleased to announce the launch of our new supplier loyalty program! Welcome to WestWon Rewards, our brand new incentive rewarding our partners old and new for introducing business to WestWon. The scheme is open to all UK suppliers of equipment, with points awarded on paid out lease business starting at £1,000 + VAT.

Speaking on the launch of WestWon Rewards, WestWon CEO Jeremy Hall says “I am excited to introduce our new loyalty scheme to all existing and prospective partners. I feel as though it will only enhance our existing bonds with suppliers and show potential suppliers more about who we are. It’s our way of saying thank you.”

Are you interested in signing up to WestWon Rewards? Please see below more information:

How does it work?

It’s really simple, if you’re a supplier of equipment and you introduce a customer to WestWon, who leases through us, points will be added to your WestWon Rewards. These points can then be spent on a whole range of goodies, from kitchen utensils to iMacs. In other words, it’s a win-win situation really, you sell your equipment and get rewarded for it!

How many points do I get awarded?

You are awarded points for every £1,000 financed through WestWon. Please contact your Account Manager for more information. The more you finance, to more points you get! You can also build up your points total to buy bigger and better rewards.

What Rewards can I get?

The full catalogue of rewards can be found at westwonrewards.co.uk

How long will the scheme last?

Indefinitely is the plan, should the scheme be successful. Although it is still in trial. However, we have high hopes for this new scheme and hope that you will enjoy it too.

How do I get involved?

First your company will need to sign a trading agreement with WestWon. Then, once signed up, you’re ready to go!

Anything else?

You are personally responsible for declaring WestWon Rewards to HMRC for tax purposes. Therefore, full T&C’s can be found at the bottom of the westwonrewards.co.uk website.

Contact your Westwon account manager for more information on WestWon Rewards. Additionally, if you’re new to WestWon and don’t have an account manager please give our office a call now on 01494 611 456.

Why WestWon is a paperless office

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WestWon is dedicated to helping the environment, and one way we can prove this includes being a paperless office. In this blog, there will be many ways on how WestWon are striving to be more environmentally friendly. It also includes how you and your company can be more environmentally responsible.

WestWon’s paperless office

One of the ways that WestWon is contributing towards being more eco-friendly is by being a paperless office. Here at WestWon, we have managed to eliminate the usage of all unnecessary paper documents. We have done this by using our state-of-the-art online portal. This has meant WestWon is able to function almost entirely online. Additionally, any paper that we need to throw away is recycled or shredded. This is so that it can be of no extra harm to the environment.

Ways that you could contribute positively to the environment:

  • You too could make your office a paperless one. The benefits of using less paper around the office are huge. Whether it’s printing less and only when its necessary or taking paperless notes. Additionally, saving files to an online storage system is also very impactful. By reducing the amount of paper you use, the obvious advantage is the prevention of trees being cut down. This also eliminates the energy needed to convert these into paper. The process of recycling will also help reduce the amount that lies in landfills. You could even take this one step further by supplying your office with sustainably sourced recycled paper.
  • You can also introduce days in the working week where everyone works together to be more eco-friendly. This includes small changes such as sharing lifts to work to reduce vehicle emissions. Other ways are by having zero waste days. This is where you challenge your employees and colleagues to waste nothing for a day. A way to take part in this would be to bring your own lunch to work. This saves any plastic packaging that you would otherwise use.
  • Another, possibly larger, but therefore more impactful change that you could make in the office is LED bulbs. These are bulbs that are 90% more efficient than incandescent light bulbs. It works by passing an electrical current through a microchip which results in its visible bright light. According to market research, most of them cost less than £10. Due to the energy and time savings they can amass for you, they are well worth investing.

Contact Us

Just by implementing small changes throughout the office, it makes a big difference in the grand scheme of things. This is why here at WestWon we felt it was so important to become a paperless office. In the future, WestWon hopes to introduce more eco-friendly projects that comprise of the same green values we believe in. For more information on any of the information above please give a member of the WestWon team a call on 01494 611 456 or email us on [email protected]. You can also see more over on our LinkedIn page.

Donating to a very worthwhile cause, Action Medical Research

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After months of training, we set off on a seven-hour drive to Keswick in the Lake District last Friday to take part in the ‘Race the Sun’ challenge, organised by Action Medical Research for children.

Action Medical Research

Action Medical Research is the leading UK charity funding vital research to help defeat the diseases that devastate the lives of sick and disabled babies, children, and young people.  They were founded in 1952 with the quest to find a cure for polio. Their main focus is now on the young.

The Challenge

Our day started at 6.30am, just before sun rise with a 40-mile cycle ride. The rain did not dampen our spirits or those of the other forty-one teams who were taking part. Whilst some were there to win the race, our objective was to enjoy the day and get round in one piece!

The Race the Sun challenge is made up of three parts. The first is a cycle ride, then a 2.5 mile canoe across Derwent Lake. This was followed by an eleven mile hike up and down Skiddaw Mountain. The idea is to complete the event by sunset. We made it back in time finishing at 5.45pm. We arrived at the finish line to a loud thunderous applause by the other teams before us.

All of us have total respect for Action Medical Research. This event was very well organised and ran by an army of volunteers who put our safety first. As we were walking / climbing up Skiddaw Mountain (at 3,054 feet, the sixth highest mountain in England) I was wondering why they had so many marshals logging our team number. As we got nearer the top, visibility was poor, and the temperature dropped. I can see now why it’s so important to be well prepared when hike up a mountain!

As we retired back to our Bed and Breakfast lodging in Keswick, we reflected on what we achieved during the day. Dominic, Tony, and I had raised nearly £5,000.00 for Action Medical Research. Their team/organisation deserves every penny, such wonderful people.

For us, we have the honour of completing the challenge and spending quality time together.

Next challenge – Dorney Lake half Marathon, Sunday 12th December – I will be wearing my WestWon t-shirt.

6 day-to-day Money Management Tips for SME’s

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Below are some money management tips for SME’s (Small and Medium sized Enterprises). Whether you are a start-up, or if you are already an established business, these tips will help your business to grow and succeed even further.

  1. Frequently assess your financial forecasts

Clear projections are very important when creating a business’ financial plan. As a business owner, you should make sure they are kept up to date and are always accurate. This will ensure that the business is kept financially stable because poor planning can influence the cash flow to and from your business. This could harm an SME in any stage of growth.

  1. Late payments and account managers

It can be useful for you yourself to take a class or attend a webinar that teaches accounting, so that even if finding or employing an accountant is too expensive or difficult it can alleviate some of the work. However, having someone to manage your accounts may be a better step forward for the business. It’s important as it decreases any chance of the business making late payments. Loan payment and credit card fees can increase rapidly, and so keeping on top of these is vital. Even by setting monthly reminders for all your bills will help lessen some of the stress.

  1. Financial options

Choosing your financial options can be hard when operating as a SME, but it is important to carefully review them all. Different options can be chosen for different types of funding, for example, if you need funding to cover the cost of equipment, leasing and asset financing would be the better option. This can be a better way to finance rather than large all at once payments as this can cause large financial dents early in the business.

  1. Keeping track of costs

Money management tips for SME’s are based around reducing costs, and keeping track of them is therefore vital. It is important to keep track of your costs as issues such as overspending can lead to the misuse of funds. Keeping track of your accounts is important to also keep bills and overdrafts at a minimum.

  1. Cash reserve

A cash reserve is a good backup to have in case of emergency. To start your cash reserve, you must firstly open a business savings account. Make sure to regularly deposit some money into the account, and only use this when necessary. This will help you in the future if needed, and it can ease strain on your accounts.

  1. Budgeting

Having a monthly budget can save a business when calculating expenses. Before making unnecessary purchases, it ensures all important bills are paid first. Timing your purchases can also reduce your business’s tax liability. A budget will help you set clear revenue and expense goals too.

Contact Us

If you would like more information on anything above, please call a member of our team now on 01494 611 456 or email [email protected]

Computer Equipment Leasing – your questions answered!

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A large number of businesses in the UK are now considering leasing their computer equipment. Several of the benefits include helping your business’ cash flow, planning budgets and being able to afford the latest technology. This is also important for new start-up businesses who are looking to minimise costs and spare their budget. However, even bigger businesses such as schools, hospitals or other workplaces need computer equipment. So what better option is there than to lease!

Here at WestWon, we are experts in providing finance and leasing options within the IT and computer equipment sector. We work together with some key suppliers and manufacturers in the industry. So you know you are being offered the best of the best when we recommend a company to a client! WestWon can also provide the most competitive prices, leading to our view that giving cheap lease rates ensures we do more business together in the future.

Frequently Asked Questions

How quickly can a lease for computers be arranged?

Applications can be accepted within a few hours. This means that once the documents have been signed, your computer equipment is delivered. The agreement is then activated within 2 working days. In this instance, we aim to get this done as soon as possible.

At the end of the lease can I decide to keep the equipment?

In short, yes, you have the option to pay for and own the equipment at the end of the lease. However, you are also given the option to continue leasing from us as well as return the equipment back to us. WestWon provide all these options to keep you, our customers, happy!

Can WestWon recommend a supplier or manufacturer from the sector?

Yes, we work alongside several providers and producers of computer equipment. Therefore, we would be happy to assist. At the same time, we are more than happy to work with a supplier or manufacturer of your choice.

More information

At WestWon, it is imperative that we offer high quality customer service. This is why you can easily lease or finance computer equipment for your business. This includes installation and setup. Nowadays, computer and IT equipment is becoming more and more used, as well as ever-changing. This is why leasing is so important. We can deliver your equipment smoothly and efficiently. There is a high probability that here at WestWon we will be able to provide you with what you are looking for. This can be in terms of our large range of funders and IT equipment finance.

Contact Us

To view other assets we finance then please click here. We have been authorised and are fully licensed by the FCA. Alternatively, to get in touch with a member of our team, please call 01494 611 456 or email us [email protected].

5 simple ways to lower your overheads

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Throughout this blog I will be listing 5 simple ways for your business to lower your overheads. A fundamental way of keeping healthy cash flow is to ensure the money coming out of your business aligns well with the margin being made. Therefore, it is key to make sure your overheads stay lower than your margin. Lower overhead ratios provide business owners with a competitive advantage. A low overhead rate will allow you to better price your products/services; thus, making you a more appealing option than your competition. Likewise, small overhead costs are more likely to allow you to increase your profit margins!

Frequently evaluate company costs

To begin with, you need to ensure that you are keeping on top of all your existing costs. You can do this by evaluating them each individually and diligently. This allows you then to review where you could be making cuts. Keep an eye out for expenses that are not imperative, too expensive and could be found cheaper elsewhere. Finding better alternative deals for your companies overheads could make all the difference to your outgoing costs.

Elect/hire an official purchaser

An effective way of finding these above-mentioned deals would be to propose the idea to a bold member of your team to be assigned to become an official purchaser. Alternatively, if your business has the funds, you can employ an experienced buyer with existing negotiation skills. Benefits of having your business its very own bargain hunter is that they are far less likely to settle for your local mundane merchant. Even better, they will not be afraid to search around and negotiate for the best deal.

Go paperless!

Another way to cut down on your costs would be to go paperless as a company. Not only does this help the environment and as a bonus to this also build your brand image; but this also eliminates the costs of the paper itself. In addition to this, the storage your company pays to store the plethora of files and documents. These documents could instead be more efficiently stored onto a network drive. This space can now be put to better use or better yet be sublet out for more cash for your business.

Sublet free space

To add to my above point, subleasing is a wise way to raise your funds if you have the facilities for it. Your office may have empty space, such as rooms or potentially even floors! So, if this applies to you and you haven’t already considered this income option, you definitely should!

Invest in energy-efficient lightbulbs

Another environmentally friendly method of lowering your overheads is to change to energy-efficient lightbulbs. Although they are expensive to begin with, it won’t be long until these gems start to pay for themselves. With the payback time being “10 weeks if you use lights for four hours a day” says retired engineer Rodney Birks in the Guardian.

Alternatively, if you are struggling with your overwhelming overheads and could benefit from instant relief, we are here to help with our range of loan and financing options. Please feel free give a member of our team a call on 01494 611 456 or email [email protected], we would be happy to chat with you!

Three cashflow tips to boost your business bank account

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For any business, a steady cash flow is very important, and seen below are three cashflow tips to boost your business bank account, proving this very fact. It can help a business to see its projections for the year or even months ahead. In addition, it can help to maintain a positive cash flow. This allows you to see when to expand. According to 2021 research by LSE, almost 15 percent of UK businesses are at ‘great risk of imminent closure’ due to bankruptcy after Covid.

Three cashflow tips to boost your business bank account are mentioned in this blog. These are business loans, refinancing and business loans. Read more about these below.

Business Loan:

When referring to a business loan it’s the exchange of money between the lender and the borrower, in return for this payment plus added interest. The lender—usually a corporation or government—loans an amount of money to the borrower, with no exception to the amount. In return, the borrower agrees to a set of terms. These can include any finance costs, interest, repayment date, and other conditions.

An example of this is a VAT Loan, which is something that WestWon can provide. Benefits of this include being able to keep funds in your business to be used elsewhere. In addition, payments can be made directly to HMRC who then receive the money on time and an easy fixed repayment schedule with fantastic rates.

Refinance:

A refinance is the process of changing and replacing the terms of an existing credit agreement, which can for instance relate to a loan. When a business or an individual decides to refinance a credit obligation, they essentially seek to make a number of changes. These can be to their terms outlined in their contract. If approved, the borrower gets a new contract that takes the place of the original agreement.

There are several types of refinancing options. Depending on the needs of the person who is borrowing, the type of loan can differ. Some of these options include:

  • Rate-and-term refinancing
  • Cash-out refinancing
  • Consolidation refinancing

Sale and Leaseback:

Sale and Leaseback is an exchange in which one sells an asset and then can lease it back for the long term. Therefore, even if you continue to use the asset, it will not be in your possession.

A sale-leaseback therefore enables a company to sell an asset in order to increase capital. It then lets the company lease that asset back from the purchaser. This can improve your company’s balance sheet.

Contact Us:

For more information on any of these three cashflow tips please give a member of the WestWon team a call on 01494 611 456 or email us on [email protected]

Business Loan Options at WestWon

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Here at WestWon we provide financing and business loans to a plethora of sectors. We also offer a range of loan options to help businesses with any financial situation they might find themselves in. WestWon provides 5-star customer service with a team that prioritises customer care, industry leading rates, require no deposit, and have a high acceptance rate. Likewise, we will ensure to waste none of your time and give you a decision within 24 hours!

Business loan options that we provide here at WestWon:

VAT Loans

VAT loans can provide financial relief for your business from the large lump sum of quarterly tax bill and instead allows you to pay 3 affordable monthly payments. This enables you to disperse this expense evenly. Additionally, we will take care of all the legal requirements of being VAT registered. Having those checks taken care of takes stress and responsibility off your company’s shoulders.

Corporation tax

Avoid late payment penalties! Our corporation tax loan can help spread the cost of your business’ company tax. Then, this can be paid over a 6- or 12-month period. We can make the process easier for you and pay this directly to HMRC ensuring all checks are in place. Alternatively, we can transfer the money into a bank account of your choice. However this is considering your company has been trading for a minimum of 2 years.

Working capital

With loans starting from £5000 and industry leading rates; you can cash inject your business and boost its growth.

Equipment Refinance

You can raise funds against equipment that you have purchased and get a monthly plan agreement in place. It is an opportunity to gain an immediate cash injection into your business. By financing your existing equipment, it allows you to keep funds in the business that could be used elsewhere.

Equipment Leasing

Equipment leasing is the alternative to asset purchasing. Leasing your equipment provides elasticity, and it is ideal for anyone who needs to step up their operation. In addition to this, leasing is an amenable way to replace old or damaged equipment. As a result, this can instantly make the business more productive and improve yield. By paying monthly instalments over an established period from 1 – 5 years, you can maintain your precious cash.

Here are just some of the many sectors we finance to:

 

In conclusion, here at WestWon we provide various business loan options. If your business is looking for a loan or asset finance, please call a member of our team now on 01494 611 456 or email [email protected]

The launch of our sister company, Scaffold Finance!

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WestWon are proud to announce the launch of our new sister company, Scaffold Finance, based in High Wycombe. Scaffold Finance are the UK’s first and only asset finance broker solely specialising within the scaffolding industry. The company will benefit from the 8+ year’s experience from their Managing Director, Carl Redding, 6 of those spent solely focused in the scaffold sector.

Scaffold Finance Background

Scaffold Finance will help scaffolding contractors to facilitate several options. These include for instance, Scaffolding Finance, Vehicle Finance, Commercial Loans, VAT Loans and Corporation Tax Loans. This partners perfectly with our finance options here at WestWon. They can assist all scaffolding companies of any size with their finance requirements.

Carl has worked in the asset finance industry for over 8 years. He therefore has an abundance of knowledge in his line of work. Alongside contacts with scaffolding suppliers, scaffolding vehicle dealerships and scaffolding contractors, he’ll be able to help you with any query that you may have as well as find the right supplier to work with you. Alternatively, he’s happy to work with a supplier of your choice, making the process much more personal.

Hear from the Director’s themselves

WestWon Managing Director, Jeremy Hall explained “I have worked in the asset finance industry for over 30 years now, with many different companies, including scaffolders, throughout this time. Consequently, having employed Carl for 5 years through WestWon, we agreed to go into business together to set up Scaffold Finance. As a result of this, I am confident that with Carl’s experience and dedication to providing quality customer service, Scaffold Finance will no doubt succeed. He will be able to help find the best possible deal out there for you.”

Scaffold Finance Managing Director, Carl Redding added “I have worked specifically in the scaffold sector for the past 6 years, and so launching my own website has been in the works for a long time. I am delighted to be working with Jeremy and WestWon on this. This is because of our combined knowledge of the sector and the people within. With nearly 40 year’s experience within our team, we know the scaffolding industry incredibly well. If you would like to get in touch with us, please visit our website. We look forward to working with you.”

Contact Us

Above all, if you are interested in Scaffolding Finance, or any of the other options seen above, please don’t hesitate to get in touch. We would be happy to assist with any queries you may have. Give us a call on 01494 611 456 or send an email to [email protected] to find out more. Feel free to check out the Scaffold Finance website at www.scaffoldfinance.co.uk

Make the most of Furniture and Fit Out Finance

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Heading back to work in a new office? Make the most of Furniture and Fit Out Finance through WestWon.

As a result of the pandemic many businesses have had to adapt and work remotely. However, now things are looking more hopeful for all of us. Offices are slowly beginning to refill and resuming with “business as usual”. For companies who are returning to existing premises, the offices might look a bit tired, needing a renovation to dust the Covid cobwebs away and start afresh. Your company may be moving to new premises, for example, where tenancies have ended during lockdowns. Moving to a new premises, you may need to make superficial changes to make it more ‘your business’ and in line with your company culture.’ This is where you can make the most of furniture and fit out finance at WestWon.

On the other hand other companies have been forced to downsize due to the recession caused by multiple lockdowns and unemployment. Relocating is on the mind for many. However, this involves expenses such as fit out costs, preliminaries, surveys, design costs, electrical and decorating fees. All these costs during unsure times can cause businesses unwanted stresses and headaches. No matter your situation, WestWon are here to help support your business with finance products for these expenditures.

How does it work?

It’s very simple. Once you speak to a supplier and have received their quote, contact WestWon. We will then provide you with a free no obligation fit out leasing quote. After being contacted, WestWon will look to obtain a credit acceptance within 72 hours. This leads to a signed rental agreement by you. On return, your equipment is ordered and delivered and your rental starts only when a delivery confirmation is received.

How can WestWon help?

There are many benefits of office furniture and fit out finance and here at WestWon we offer all of them along with 5* customer service.

  • Keep funds in the business that are able to be used elsewhere within the company eg by recruitment (cash flow)
  • Alternative funding lines – there is no need to use up an existing bank facility, save it for a rainy day
  • The latest equipment – it is important for your business to have the latest technology on hand. Therefore when you replace equipment at the end of a lease term, it implements a recycling strategy
  • When dealing with rental agreements VAT is paid on the rentals, not in full and upfront.
  • Pay for equipment as you use it which is the same when paying employees. You do it all at once and upfront for office furniture as it is used
  • Tax planning – when using a lease rental agreement, 100% of that rental is then deductible against your company’s corporation tax

Contact Us

If you are interested in leasing office equipment and would like to have a chat with a member of the team, contact us on 01494 611 456 or email [email protected]

 

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01494 611 456

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