Tailored Local Leasing Agreements Help Cumbrian Companies Thrive

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England’s second largest county, Cumbria, boasts a thriving local economy and a rich variety of businesses, from international corporations to SMEs. Indeed, Carlisle boasts a vibrant mix of industry sectors, from logistics to retail and tourism, while Barrow-in-Furness is home to specialist manufacturers, energy industries and software engineers.

As the economy starts to pick up, more and more companies throughout the county are increasingly investing in capital equipment to drive their businesses forward with the help of  leasing solutions provided by local leasing companies.

Equipment leasing is one of the fastest growing and most popular ways for businesses in Cumbria to finance their investment in technology. Leasing allows all sorts of retailers, manufacturers, laboratories, opticians, health clubs, restaurants and construction companies in the county of Cumbria to easily upgrade technology and avoid equipment obsolescence.

From IT equipment or medical technology to an entire office refurbishment, a wide range of specialist equipment can be leased as well as entire projects. Other lease options include furniture, computers, security systems, manufacturing systems and even maintenance agreements. In fact, almost any type of tangible equipment can be considered for leasing. Equipment can also be sourced from multiple suppliers.

If essential equipment needs replacing urgently, leasing can offer a fast and efficient solution to keep a business going and avoid any loss of revenue. Arranging a lease is usually very straightforward. In fact, arranging a lease agreement can be less complicated than applying for a loan. It can also offer considerable tax benefits.

With years of experience in serving businesses in Cumbria, WestWon possesses valuable local knowledge to help Cumbrian companies find the right leasing solution for their particular business and has a comprehensive list of local suppliers. In fact, WestWon has over 65 partner manufacturers and suppliers throughout Cumbria, including 14 in Carlisle, 8 in Kendal, 8 in Penrith and 5 in Windmere. WestWon Education also offers specialist education lease funding for the 332 schools in the region.

For more advice on leasing, download your free Essential Guide to Leasing for Business.

 

Equipment Leasing Can Keep Your Finances As Well As Your Clients In Shape

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Keeping up with the latest fitness or beauty equipment can be an expensive challenge for established gyms, spas, hair salons and health clubs. For new leisure businesses starting out, the initial out lay on equipment and fitting out the venue, not to mention advertising and staff costs, can be almost overwhelming. However, leasing gym and beauty salon equipment provides the perfect solution for new and established businesses of all sizes.

More and more businesses in the health and beauty industries are turning to leasing as an alternative to buying, and with very good reason. By leasing assets you can improve your cash flow by keeping your working capital free. This leaves you with funds available for more pressing requirements such as staff salaries, promotional materials or new business opportunities.

No one wants to work out in a gym with outdated equipment or visit a beauty salon that doesn’t offer the latest treatments. With leasing, equipment can be added or upgraded at any time during the lease period without having to repurchase, so you will always have the most up-to-date equipment to ensure your business stays ahead of the game. This means you will never be left with obsolete equipment in a way that would not be possible with an outright purchase.

Choosing a leasing scheme also gives you a greater degree of flexibility as lease agreements can be tailored to your exact needs. Agreements can be over an agreed period, for example two years, and repayments can be made monthly, quarterly or annually, by direct debit or invoice, whichever is most convenient. Lease payments can also be set against profit, thereby potentially reducing your tax bill.

What fitness and beauty equipment can be leased?

From a treadmill to the latest laser hair removal system, there is almost no limit to what you can lease. What is more, you can choose any combination of equipment and technology from multiple suppliers for your lease agreement.

Some of the most popular types of equipment leased are:

  • Gym equipment leasing (from treadmills to rowing machines)
  • Changing room lockers and benches leasing
  • Beauty equipment leasing (from IPL lasers to microdermabrasion)
  • Steam rooms and saunas leasing
  • Tanning booths and sun beds leasing
  • Massage chairs leasing
  • Commercial hairdryers leasing
  • Audio/Visual equipment leasing
  • Air conditioning systems leasing
  • Laundry equipment leasing
  • IT hardware and software leasing
  • Telephone systems leasing
  • Furniture leasing
  • Complete salon fit out leasing

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Equipment Leasing for Business.

 

Equipment Leasing Helps Local Cornish Companies Overcome Financial Challenges

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Despite the challenging economic climate, the county of Cornwall has one of the highest increases in SMEs in the UK and an increase in GDP of more than three percentage points. What is more, businesses across the county, particularly in the tourism and farming sectors, are increasingly able to finance their growth plans and invest in capital equipment with the help of flexible equipment and machinery leasing solutions.

With a strong presence in Cornwall, leading finance company WestWon, for example, has successfully arranged lease agreements for businesses in a variety of sectors in the county and has a network of over 85 partners. This includes 7 partners in Redruth, 7 in Falmouth, 6 in Newquay and 10 in Truro and Launceston.

Leasing not only allows businesses to improve performance by acquiring the latest technology without tying up capital or existing lines of credit, but it also protects against future obsolescence – a major issue for IT and computing equipment. Plus, leasing payments offer considerable tax benefits and can even be tailored to match a businesses seasonal cash flow, which is a benefit for many businesses in Cornwall.

Unlike buying, leasing means businesses can pay for an asset as they use it. After an initial payment, a business can start benefiting from the equipment straight away and spread the cost over its useful life.

Some of the most popular types of equipment leased are:

  • IT equipment (e.g. computers, tablets, printers)
  • IT Software
  • Engineering equipment
  • Office furniture
  • Scientific and medical technology
  • Catering equipment
  • Industrial machinery
  • Hairdressing and beauty equipment
  • Sports and leisure equipment
  • Processing and packaging machines
  • Retail equipment
  • Manufacturing equipment (e.g. cutting machines, injection moulding systems)
  • CCTV and security systems
  • Scaffolding and construction equipment
  • Waste and recycling equipment

WestWon is well placed to provide Cornish businesses with a tailored local leasing service and client services managers who can visit a client’s premises to discuss their requirements in person. The company has many years’ experience working with organisations in the private and public sector in Cornwall, helping them source manufacturers and equipment or provide information and quotes on various options. WestWon also provides specialist lease-based funding suitable for the 300 schools in Cornwall.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.

 

Cheshire Businesses Grow With Flexible Local Leasing

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Paying upfront for equipment or an asset can be a significant drain on the working capital for most businesses. Leasing is fast becoming one of the most popular ways to finance equipment across the UK and this is particularly evident in Cheshire, where leading local leasing company WestWon has recently arranged 40 lease agreements for a variety of businesses.

One of the UK’s most significant growth locations, Cheshire hosts an exceptional private sector research and industrial base, including world-class businesses. A high proportion of companies are engaged in knowledge and technology activity. In fact, the area is in the top 10 in England for the percentage of employment in high and medium technology production and the knowledge economy.

Leasing provides these and many other businesses with an alternative funding, which enables banking and overdraft lines to be kept free for any future cash flow issues or unexpected problems. And lease payments can often be set against profit, thereby potentially reducing tax bills.

Unlike buying, leasing means companies can pay as they use. After an initial payment, you can start using the equipment straight away and spread the cost over its useful life, so you can be paying for the asset with the income it generates. Plus, you have the ability to simply upgrade or expand equipment as and when the need arises, so you can always have the latest technology.

The lease itself can be tailored to suit the business. Agreements can be over an agreed period, for example two years, and repayments can be made monthly, quarterly or annually, by direct debit or invoice, whichever is most convenient. You can also source equipment from multiple suppliers.

From IT equipment or manufacturing systems to an entire office refurbishment, a wide range of specialist equipment can be leased as well as entire projects. Other lease options include furniture, computers, security systems and even maintenance agreements.

WestWon Limited has many years’ experience working with organisations in the private and public sector in Cheshire, helping them source manufacturers and equipment as well as arranging flexible lease agreements. The company is well placed to provide businesses with a tailored local service with over 400 partners and suppliers in the county, which includes over 55 in Chester and Altrincham, 85 in Stockport, 65 in Warrington and 27 in Crewe.

For more advice on leasing, download your free Essential Guide to Local Leasing for Business.

 

 

Leasing In Bristol, Avon And The West County Supports Business Investment Plans

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The ONS figures for UK GDP published at the end of April show the UK economy growing at 0.8% over quarter one, some 3.1% higher than this time last year. This is being reflected in the local economy in areas such as Bristol, where confidence amongst local businesses is returning.

Businesses in Bristol and across the Avon area are increasing or bringing forward their capital investments in equipment and machinery to drive growth and increase productivity.

From Bristol to Bath and Weston-Super-Mare, businesses across the Avon region are increasingly recognising the benefits of leasing to finance these investments. With a strong presence in Avon, leading leasing company WestWon, for example, has a network of over 250 partners and has successfully arranged lease agreements for over 40 businesses in the county.

Leasing not only allows businesses to improve performance by acquiring the latest technology without tying up capital or existing lines of credit, but it also protects against future obsolesce – a major issue for IT and computing equipment. Plus, leasing payments offer considerable tax benefits and can even be tailored to match a businesses seasonal cash flow.

Working in partnership with businesses, WestWon Limited can arrange a highly competitive lease agreement for a wide range of equipment from IT hardware and software or office furniture to catering equipment as well as essential insurance cover.

Unlike buying, leasing means you can pay as you use. After an initial payment, you can start benefiting from the equipment straight away and spread the cost over its useful life, so you can be paying for the asset with the income it generates.

Some of the most popular types of equipment leased are:

  • IT equipment (e.g. computers, tablets, printers)
  • IT Software
  • Engineering equipment
  • Office furniture
  • Scientific and medical technology
  • Catering equipment
  • Industrial machinery
  • Hairdressing and beauty equipment
  • Sports and leisure equipment
  • Processing and packaging machines
  • Retail equipment
  • Manufacturing equipment (e.g. cutting machines, injection moulding systems)
  • CCTV and security systems
  • Scaffolding and construction equipment
  • Waste and recycling equipment

 

In fact, almost any type of tangible equipment can be considered for leasing. This can even include hardware, software and maintenance agreements. You can also source equipment from multiple suppliers.

With a regional presence based in Bristol and 200 partners and suppliers in the town, WestWon is well placed to provide businesses with a tailored service and client services managers who can visit a client’s premises to discuss their requirements in person. The company has many years’ experience working with organisations in the private and public sector in the Avon region, including almost 500 schools in Bathm Bristol, Clevedon, Radstock and Weston-Super-Mare, helping them source manufacturers and equipment or provide information and quotes on various options.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.

How To Choose The Right Leasing Company

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When taking the decision to lease equipment or other assets your business requires, selecting the right leasing company to work with is vital. As with entering into any new contract, when opting to lease equipment it is important to choose a reputable leasing partner and to diligently check the credentials of any company you may wish to deal with.

Now more than ever, it is essential that those taking leasing decisions on behalf of a company are fully aware of how the market operates and are fully equipped to verify the credentials of their chosen supplier and to ensure that they achieve the most cost effective solution for their particular needs.

Here are some tips to help you find the right leasing partner:

1. Reputation

Always choose a leasing company who is a member of industry bodies such as the FLA (www.fla.org.uk) and NACFB (www.nacfb.org), which ensure best practice. Members of the NACFB operate under an Office of Fair Trading registered Code of Practice.

 2. Referrals and recommendations

Scrutinise your potential leasing partner. Find out how long they have been trading and ask for reference sites.

3. Lease types

Find out what type of lease agreements a potential partner offers. There are several types of lease agreement, which will allow your company to acquire the assets you need to run your businesses without upfront capital outlay. These include capital leases (or finance leases) and operating leases. It is important to choose the right lease agreement to meet you business needs.

4. Experience and expertise

Find out if your potential leasing company has experience of leasing in your industry sector or the type of equipment you wish to lease. How long have they been in business? What companies have they worked with? If you are a start-up company, do they have experience in leasing to new businesses? Some companies only deal with established companies, while others have expertise in arranging lease agreements for new businesses.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.

 

 

 

Berkshire Businesses Lease Their Way To Growth

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As the economy starts to pick up, more and more companies throughout Berkshire are increasingly investing in capital equipment with the help of flexible leasing solutions.

Berkshire itself is second only to Greater London in terms of output with a GVA of £30bn per annum. The region in the affluent Home Counties boasts some of the most innovative technology-driven businesses in global telecoms, software, pharmaceutical and new media sectors. For example, Berkshire is home to the UK headquarters of Fortune 500 companies such as Microsoft, Oracle and Verizon, along with leading businesses like Vodafone, Telefonica and Mars.

One of the centrepieces of the Chancellors budget in March, the increase and extension of the Annual Investment Allowance (AIA) is providing a welcome boost by delivering real tax savings for businesses. With the AIA doubled from £250,000 to £500,000 until the end of 2015, medium-sized businesses in Berkshire and across the UK are increasing or bringing forward their capital investments in plant and machinery to drive growth and stay at ahead of their competitors.

This is where leasing has an important role to play, by providing businesses with the opportunity to pay for these assets as they use them and keep vital lines of credit free. In terms of technology, IT equipment can become out of date in just three to four years. With a lease agreement, equipment can be added or upgraded without having to repurchase, so a business can always have the most cutting-edge hardware and software.

Many businesses find leasing advantageous from a budgeting standpoint as switching from outright purchase to a lease agreement changes how the equipment is accounted for. Leasing enables the equipment needed to be paid for over a fixed period of time, which helps spread the cost. Plus, with an operating lease, rental payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill.

A wide range of equipment, from IT hardware and software to packaging machines and medical technology, can be leased. Other leasing options include general office equipment such as furniture and photocopiers. In fact, almost any type of tangible equipment can be considered for leasing.

Leading asset finance and leasing company, WestWon has been helping businesses of all sizes and sectors in towns in Berkshire such as Bracknell, Maidenhead, Newbury, Reading and Slough to drive their business forward by arranging flexible lease finance agreements to meet their needs. With an extensive network of over 600 leasing finance partners and suppliers throughout the county of Berkshire, including over 200 in Reading alone, the leasing company is able to provide each business with a tailored service and a dedicated account manager who possesses valuable local knowledge.  We also offer specialist leasing and parental donation systems for tablets in the classroom appropriate for digital learning schemes being considered by almost 500 schools in County Berkshire.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.

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2014 Changes To The Annual Investment Allowance For Capital Equipment Could Benefit Your Business

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In recent times business owners have sometimes tended to put investment in plant and machinery on the back burner because of economic instability.

It is in response to this that the Chancellor announced in the March 2014 Budget that there would be a temporary increase in the AIA limit will from £250,000 to £500,000  per annum with effect from 1 April 2014 for companies and from 6 April 2014 for sole traders/partnerships.

 

Window of opportunity for businesses to acquire capital equipment

The objective behind this initiative is to enable more businesses to undertake capital investment with a significantly reduced level of financial exposure.

However, although no announcement has yet been made, it is expected that the AIA limit will revert to £25,000 per annum with effect from 1 January 2016. It may therefore be important that businesses planning to invest in the near future do so before 2016 whilst the higher temporary increase in the AIA limit is in place.

 

Benefit of AIA  for business

A key advantage of AIA is that it accelerates the timing of tax relief on qualifying capital expenditure. Depending on the timing of the investment, the temporary increase in AIA means that businesses may be able to bring forward the tax relief on more of their capital expenditure. However it is worth businesses considering advancing or deferring investments in order to maximise their AIA over the period it is available.

 

More about AIA

The AIA was first introduced in April 2008, providing 100% allowance on the first £50,000 investment in qualifying capital expenditure. The maximum allowance was doubled to £100,000 for qualifying expenditure incurred from 1 April 2010 (6 April 2010 for unincorporated businesses), and was reduced to £25,000 with effect from 1 April 2012 (06 April 2012 for unincorporated businesses).  In the Chancellor’s 5 December 2012 Autumn Statement the AIA limit was temporarily increased from £25,000 to £250,000 for a two-year period from 1 January 2013 to 31 December 2014, before being temporarily raised to £500,000 in the recent budget.

 

Qualifying expenditure covers most assets purchased for use by businesses

• Office furniture and equipment

• Vans, lorries and equipment

• Building fixtures e.g. shop fittings, kitchen or bathroom fittings

• Business machines e.g. printing press,lathes, tooling machines

• Tractors, combine harvesters and other agricultural machinery

• Gaming machines, amusement rides

• Computer hardware and qualifying software

• Computerised/computer aided machinery including robotic machines

• Wind turbines and fibre optic cabling

• Driving school cars (adapted with dual control mechanisms)

 

The following items of capital expenditure do not qualify.

• Land, buildings or cars

• Expenditure incurred in the accounting period when trade ceased permanently

• Existing plant and machinery

• Plant and machinery that was gifted

• Plant and machinery used by a person for leasing under a long funding lease and

subsequently brought into use by that person for the purpose of a qualifying activity

• Change in the nature/conduct of the trade carried out by a person other than the person incurring the capital expenditure.

 

Download the AIA changes 2014 Fact Sheet

Download the AIA 2104 Changes Fact Sheet for much more information about the AIA opportunity for business and answers to your AIA queries.

Alternatively call us now on Tel: 01494 611 456 to discuss AIA, your capital equipment requirements and leasing options.

 

Business Leasing Grows As Bank Lending Dips Again in 2014

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Lending to businesses is down again according to the latest Bank of England report which indicates that lending to companies of all sizes fallen in the 3 months to February 2014, despite continuing pressure on banks to boost growth by investing more.  Net lending to UK firms fell by £500million over the quarter despite a small increase in February.

In total, lending was down by 2.1% in February year on year. Economists pointed to firms paying down debt and tapping into alternative sources of funding but expect businesses to take advantage increasingly of improving credit conditions to fund growth.

Small business groups raised concerns about the latest findings, while banks put the negative lending figures down to firms using large cash reserves to pay down their debts.

The Bank’s report said survey evidence indicates that pricing on loans to small and medium-sized businesses has remained “broadly unchanged” in recent months.

John Allan, national chairman of the Federation of Small Businesses (FSB), said this ” underlines the ongoing challenges small businesses face in accessing finance to meet their growth ambitions”.

He continued: “As the economy continues to gain momentum, ensuring small firms have access to finance is critical.”

At the same time, the Finance & Leasing Association (FLA) has pointed to the fact that new asset finance business has grown at the beginning of the year by 9% to almost £1.7 billion over the previous year. Expectations of new business growth in 2014 are particularly bullish. Nearly three-quarters of FLA members surveyed anticipated growth in new business this year, up from 54% in the previous survey last June.

Jeremy Hall, CEO of leading asset finance and leasing company WestWon, commented, “Asset finance continues to provide a lifeline for many businesses that wish to invest in business growth. As well as the tax, budgeting and flexibility advantages offered by leasing, businesses are also able to benefit from rapid decisions in principle and quick access to the funding they need compared to the typical process of securing a bank loan.”

The Bank of England quarterly publication presents the Bank’s assessment of the latest trends in lending to the UK economy. This report draws mainly on long-established official data sources, such as the existing monetary and financial statistics collected by the Bank that cover all monetary financial institutions, and other data collections established since the start of the financial crisis.

For more information about leasing for business please call WestWon on Tel: 01494 611 456 or download the essential guide to leasing – Financing Your Business Plans.

Why Leasing Can Give Warehousing And Distribution Companies The Competitive Edge

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The warehouse and distribution sector is a highly competitive market, so it is vital to optimise efficiency and keep costs low in order to deliver the best possible service to customers.

As any business grows, its requirements change and keeping up with the latest equipment or software can be an expensive challenge. As a result, leasing offers an excellent alternative to buying. With leasing, warehousing and distribution centre equipment can be added to or upgraded at any time during the lease period, so you will always have the option of having the most up-to-date and efficient equipment to ensure your business stays ahead of the game.

Unlike buying, leasing means you can pay as you use. After an initial payment, you can start benefiting from the equipment straight away and spread the cost over its useful life, so you can be paying for the asset with the income it generates.

Leasing can help improve your cash flow by keeping your working capital free. This leaves you with funds available to reinvest elsewhere in your business and you can take advantage of considerable tax benefits. With an operating lease, lease ‘rental’ payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill. Other methods of equipment acquisition, such as outright purchase, do not have the same level of tax benefit.

What assets can be leased?

From a single item to an entire turnkey solution, almost any combination of tangible asset can be included in one lease agreement. Types of equipment that can be leased include:

  • Conveyor systems
  • Forklift trucks
  • Pallet lifts
  • Storage solutions
  • Warehouse Management Systems
  • Workbenches
  • Pallets and containers
  • Shelving systems
  • IT hardware and software
  • CCTV and security systems
  • Furniture

WestWon Limited has a wealth of experience in providing asset finance solutions for a wide range of equipment and industry sectors. For more information on leasing, download the free Essential Guide to Leasing for Business. Alternatively, please call us on Tel: 01494 611 456.

 

 

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