Leading Heating Ventilation & Air Conditioning Company Partners With WestWon Leasing

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London-based Heating Ventilation & Air Conditioning company Macair has teamed up with WestWon to provide attractive lease finance options for customers that need to upgrade their current systems before 2015 due to industry regulations. As a result, Macair can now offer instant lease quotes for all new air conditioning installations and upgrades, helping customers to acquire the new systems they need before the coming deadline.

Rob McConachie from Macair commented, “Macair sees our relationship with WestWon as a very positive move for our business and for our customers. We are excited to be able to offer highly attractive air conditioning leasing options backed by the expertise and service of a leading leasing company with in-depth experience in our sector.”

According to McConachie, the timing of the tie-up between Macair and WestWon is significant. The Ozone Regulation came into force in 2000 and it has already banned the use of ozone depleting HCFC refrigerants such as R22 in new systems. R22 remains a very common refrigerant in existing systems, but its continued use will be banned completely by 2015.

McConachie continues, “As a result of The Ozone Regulation, which affects all users of R22 and other HCFC systems, we believe that many companies will find themselves having to bear the cost of new air conditioning systems at a time when their budgets are already stretched. Suitable leasing deals should now be quick and easy for us to arrange and will help these businesses to spread the cost of a new system over its useful life, without impacting their cash flow and other lines of credit.”

According to WestWon’s Sales Director Andy McCready, “We are delighted to be working in partnership with Macair and believe that together we can offer heating ventilation and air conditioning customers highly attractive and, in many cases, tax-efficient leasing options to help them acquire the systems they need in the run up to 2015 and beyond.”

WestWon Leasing Partner Benefits

Working in partnership with WestWon enables resellers such as Macair to offer a range of flexible, tailored finance solutions so that customers can invest in the systems they need right away, and crucially, upgrade more easily in future to comply with new regulations.

WestWon provides a range of support options for reseller partners, who wish to offer their customers a finance option, including

  • Instant quotes and highly competitive rates via the WestWon Partner Portal
  • Dedicated WestWon Account Manager to help you grow your business
  •  Branded finance portals for authorised WestWon partners
  •  Finance partner logo and plaque
  • Sales training and marketing support

 

For more information, contact WestWon on Tel: 01494 611 456 or email [email protected] or see http://oldwestwon.wpengine.com/home-page/resellers/

Questions You Should Ask About Leasing IT And Computer Leasing

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Harnessing the latest IT and computer technology is key to enabling business advantages such as fully integrated mobile working. Given the speed at which technology changes, and the onus on companies to keep up with the competition in terms of IT infrastructure efficiency, IT and computer leasing has much to recommend it and is now one of the most popular means of financing technology investments.

However, if you are a business thinking about leasing equipment, you should be prepared to do your homework in order to get the right IT and computer leasing deal for your circumstances.

Questions To Ask About IT & Computer Leasing

  1. With a capital or finance lease, you select the equipment you require and the finance company arranges the finance for it. You make a series of lease rental payments over time, which gives you use of the asset for the duration of the lease and at the end of the lease, you will normally have the option to acquire the asset at an agreed price or return it to the leasing company.
  2. With an operating lease, the equipment is considered a monthly operating expense rather than a depreciating asset, making ‘off-balance sheet’ funding possible.
  3. How long is the lease for? Usually, leases for computer equipment run over 24 to 36 months. The longer your lease, the lower your monthly payments–but you’re also likely to pay more over time with a longer lease.
  4. Does the equipment have to be insured? Some leasing companies require you to insure the leased equipment. If you don’t, fees may be added to your monthly payment to cover insurance.
  5. Can you include software and maintenance services as part of your lease agreement?
  6. Can I add to the lease? Most leasing companies don’t mind if you add equipment to an existing lease. Your lease payment will be recalculated accordingly; lease terms don’t usually change.
  7. Can I terminate the lease early? What if you no longer need the equipment you’re leasing or you want to upgrade to newer technology sooner than you expected? Find out in advance if you can pay off your lease early, and if there’s a prepayment penalty (and if so, how much?).

If you require IT equipment such as computer hardware, software, servers, laptops, routers and cabling for your new company or company expansion, leasing may well be a good option. After all, you wouldn’t pay your employees their wages for 3 years upfront, so why tie up a large amount of cash on computer equipment for them to use – especially when you could earmark that money to establish or grow your business?

For more information about your IT leasing options call WestWon on Tel: 01494 611 456. You can also download Financing Your Business Plans – Guide To leasing

What Does The March 2014 Budget Mean For Business?

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As always when a new budget is unveiled, businesses pay close attention to see how they will benefit from the changes. At a time when the UK economy has started to turn the corner, many were hoping for further stimulus in the budget to cement the move into positive territory. So what Does The March 2014 Budget Mean For Business?

Key points for business in the March 2014 budget

• Doubling the corporate investment allowance to £500,000, to the end of 2015, at a cost of £2bn in the short-term;

• A £7bn package to cut energy bills for British manufacturers, including capping the carbon price floor from 2016/17 until the end of the decade;

• Doubling the UK Export Finance loan scheme to £3bn;

• Raising the rate of the research and development tax credit for loss-making small businesses;

• £500m of finance to small housebuilders and a further £150m to fund the Right to Build scheme:

• The introduction of tax credits for the social investment industry;

• The introduction of a new allowance to support billions of pounds of investment in difficult-to-drill oil fields in the North Sea.

Budget Commentators

Early commentators on the 19th March included John Longworth, director general of the British Chambers of Commerce who said, “Osborne’s focus on investment, exports, house-building and economic resilience passes the business test. By making a better business environment his top priority, the Chancellor has recognised that successful and confident companies are the key to transforming Britain’s growing economic recovery into one that is felt in homes and on high streets.”

Specifically he said about business measures, ““Consistent allowances help companies invest with confidence. Given that business investment remains far below its pre-recession level, it is fantastic that the Chancellor has responded to our call to extend the Annual Investment Allowance, and that he has doubled the amount covered to £500,000 from 2015. That will give many growing and medium-sized companies the confidence to push ahead with investments they’ve long wanted to get off the drawing board.”

Meanwhile John Cridland, director-general of the CBI, said the Budget would put “the wind in the sails of business investment.”

“The doubling and extension of the annual Investment Allowance, together with making the seed enterprise investment scheme permanent, will be a shot in the arm for many medium-sized businesses,” Mr Cridland continued.

For more information about funding for new corporate capital investements, contact WestWon on Tel: 01494 611 456.

UK Continues To Lead European Leasing Growth

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Hard on the heels of the FLA’s recent report stating that new asset finance business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year,  Richard Ryan, a Partner at Invigors EMEA, part of The Alta Group has recently painted a less rosy picture of the European leasing scene.

According to Ryan, after  shrinking slightly in 2012 in response to the eurozone crisis, GDP in the European Union (EU) was flat last year and is forecast to grow by a rather anaemic 1.5% in 2014 and 2.0% next year, according to the latest data from the European Commission.

And currently the outlook is further clouded by worries over potential deflation in the eurozone together with poor corporate earnings growth which, when combined with a strong euro, does not bode well for either investment or export-driven growth.

The European leasing industry has largely reflected this rather lacklustre performance to date. New businesses volumes for equipment and vehicle finance were flat in 2012 and appeared to have showed little growth last year. Real estate leasing fell by nearly a third in 2012, though this accounts for a relatively small share of the total.

While we wait for full year European figures to be published for 2013, it seems that some major countries have been particularly poor performers. New business shrank by 3.4% in France for the year while, in the first half of 2013, volumes fell by 13% in Italy and 17% in Spain. Even Germany, the economic powerhouse of Europe, has seen no growth in leasing for the past two years. It appears that overall equipment and vehicle leasing volumes in Europe have remained at least 15% below pre-crisis levels.

However Ryan continues to state that while the overall outlook may not appear particularly inspiring, there are however grounds for optimism. Not all countries have seen their local leasing sector perform poorly. Of the more mature markets, Denmark, Sweden and the UK have all seen significant growth, while some of the developing markets in Eastern Europe, which were badly hit by recession, are also recovering strongly.

Of the major countries, the UK has been a relatively strong performer. Data from the UK’s Finance & Leasing Association (FLA) showed that, after a slow recovery from recession in 2010 and 2011, growth in new business volumes accelerated to 4.1% in 2012 and remained at 3.4% last year. Based on GDP forecasts for 2014 ranging from 2.5% (Eurostat) to 3.4% (Bank of England) we would expect equivalent growth in the leasing market of 9-13%, numbers not seen since the heady days of 2006-7 though, in truth, new business growth in the UK has tended to undershoot this trend line recently.

More recent indicators suggest that the recovery is becoming more broadly based at a European level. The most recent Leaseurope/Invigors business confidence survey, undertaken in December last year, shows a sharp improvement in industry sentiment in terms of expectations for the first half of 2014.

Bullish expectations for growth

Expectations of new business growth are particularly bullish. Nearly three-quarters of those surveyed anticipated growth in new business this year, up from 54% in the previous survey last June. This is the biggest jump in sentiment since 2010. The proportion of respondents forecasting no change fell to 16% in December while the number predicting a fall in new business has halved to just 10%.

Those taking part in the survey also expect that this growth will be reflected in the bottom line. Over 60% anticipated that net profit in their organizations would increase over the next six months, an increase from just over 50% previously; while only 15% believed that net profit will be squeezed. Overall, nearly two-thirds of respondents felt more optimistic about the prospects for their business, nearly double the level recorded in the previous survey!

Looking at the latest figures available from Leaseurope, it appears that this optimism is not necessarily misplaced. The Leaseurope Index is a separate survey that tracks key performance indicators covering a sample of 17 European lessors on a quarterly basis. Unlike the confidence survey it is retrospective and tracks actual rather than expected performance. Total new business volumes reported by the sample of leasing companies increased by 13.7% in the Q4/2013 survey, the first significant increase in two years.

You can read Richard Ryan’s full article.  For more information about competitive UK leasing deals, conatct WestWon on Tel:01494 611 456.

 

Business Equipment Leasing In Northern Ireland

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As a nationwide leasing company covering Northern Ireland, WestWon was interested to find out more about nibusinessinfo.co.uk

This free service offered by Invest Northern Ireland, is the official online channel for business advice and guidance in Northern Ireland. It contains essential information, support and services for you and your business – whether you work for a large organisation or are on your way to starting up.

Amongst the useful content on the site is a section on the benefits of leasing. According to NI Business Info asset finance allows businesses to acquire the equipment and assets they need in order to operate that they may otherwise be unable to afford. It can also free up working capital for use in other areas of your business and save you from having to take out a large loan to buy equipment outright.

There are two main forms of asset finance:

  • Leasing – renting it over a period in return for fixed rental payments.
  • Hire purchase arrangements – an initial deposit is paid towards the cost of the asset and the balance is then paid in instalments over a period of time. At the end of the hire purchase period, you would make a final payment and gain ownership of the asset.

You should think about leasing or renting equipment that has high maintenance costs, can quickly become outdated, or is only used occasionally.

There are several advantages of leasing or renting equipment:

  • you don’t have to pay the full cost of the asset up front, so you don’t use up your cash or have to borrow money
  • you have access to a higher standard of equipment, which might be too expensive for you to buy outright
  • you pay for the asset over the fixed period of time that you use it, which helps you budget for the future
  • as interest rates on monthly rental costs are usually fixed, it is easier to forecast cashflow
  • you can spread the cost over a longer period of time and match payments to your income
  • the business can usually deduct the full cost of lease rentals from taxable income
  • if you have not bought the asset outright, you won’t have to worry about any overdraft or other loan taken out to finance the purchase being withdrawn at short notice, forcing early repayment

See more at: https://www.nibusinessinfo.co.uk/content/leasing-or-renting-business-equipment

For more information about leasing deals for Northern Irish businesses or to obtain a quote for equipment leasing, please contact WestWon on Tel: 01494 611 456

New Asset Finance Business Grows By 9% To Almost £1.7 Billion In January 2014

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UK Finance & Leasing Association members report that new asset finance business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year.

Geraldine Kilkelly, head of research and chief economist at the FLA said that key asset sectors reported double digit growth – with commercial vehicle finance, business equipment finance and plant and machinery finance up by 25%, 21% and 13% respectively.

IT equipment finance reported modest new business growth of 3% compared with the same month in 2013.

Kilkelly added: “The positive start to 2014 follows exceptionally strong growth of more than a third in December 2013 and reflects growing confidence in the sector.

“The FLA’s Asset Finance Confidence Survey for Q1 2014 showed respondents expect asset finance new business to grow by up to 10% over the next 12 months.”

 

Jan 2014

% change on

Jan 13

3 mths to

Jan 14

% change on

prev yr

12 mths to

Jan 14

% change on

prev yr

Total FLA asset finance (£m)

1,694

+9

5,705

+14

22,535

+4

Total leasing and hire purchase excluding high value (£m)

1,672

+7

5,603

+13

21,843

+4

Data Extracts:
Plant and machinery finance (£m)

343

 +13

 1,069

+9

4,513

+5

Commercial vehicle finance (£m)

420

+25

1,504

+38

5,285

+11

IT equipment finance (£m)

68

+3

412

+13

1,544

+14

Business equipment finance (£m)

159

+21

493

+12

1,961

+3

Car finance (£m)

505

-8

1,599

+1

6,707

-1

Aircraft, ships and rolling stock finance (£m)

6

-62

115

+42

297

-40

 

For more information visit the fla.org.uk

For more information about leasing equipment, machinery, IT resources or office furniture and fit out leasing please call WestWon on Tel: 01494 611 456.

 

Download Free Guide To Equipment Leasing

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Paying upfront for equipment ties up vital working capital, especially when businesses are expanding. With bank lending figures still falling, it’s not surprising that many businesses are turning to leasing and would benefit from a free guide to leasing.

Asset Finance is now the third most common source of finance for businesses, after bank overdrafts and loans. It is also of growing importance in the public sector. In fact, organisations across every market sector are benefiting from leasing, from new start-up businesses to large established companies.

 

Financing Your Business Plans: The Essential Guide To Leasing

The WestWon Guide to Leasing has been written to help businesses of all sizes in every sector to get up to speed with leasing terminology and to provide a concise overview of the best leasing options.

DOWNLOAD THE GUIDE TO LEASING HERE

This essential guide contains the information that you need to know about the benefits of leasing, the process, the options available, the things to consider and questions to ask when choosing a leasing company.

For more tailored information on your business leasing options, please call WestWon on Tel: 01494 611 456

 

Benefits of Leasing V. Buying Equipment For Your Business

With highly competitive interest rates and agreements, there is no doubt that leasing can offer an advantageous alternative to buying.

Leasing protects your cash flow

Making monthly payments over the duration of a finance agreement allows you to spread the cost of your equipment over its useful life.

Leasing can be tax efficient

Regular, monthly payments can qualify as a  tax deductible trading expense, making the acquisition of essential assets more tax-efficient.

Leasing helps avoid obsolescence

Technology changes rapidly and avoiding obsolescence is a major concern for many. With leasing you can enhance or upgrade your equipment as the need arises.

Leasing can reduce administration

Lease finance agreements can be tailored to suit your particular business requirements and include whatever combination of business equipment and related services you require.

Leasing can protect bank lines

Our financing solutions have no effect on your other borrowing options, ensuring you can stay financially flexible.

 

 

How Much Does It Cost To Lease New Machinery And Equipment?

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A major cost benefit of leasing is that it allows businesses to spread the cost of new equipment over its useful life.  Payments for equipment finance can be made on a monthly, quarterly or even annual basis over a number of years, typically 2-5 years. But how much does it actually cost?

Well, it is now easier than ever to compare lease versus buy costs using WestWon’s instant online leasing calculator.

If you know how much the equipment you require costs, you can calculate the rental payments over your preferred rental period within seconds. Simply enter the capital cost and your chosen lease rental term, and hit the calculate button for an immediate answer.

You can also have a copy of the quote emailed to you or another person for easy reference.

Leasing versus buying? It’s certainly food for thought and so much easier to decide when you have the figures to hand. For more information about any aspect of leasing, please contact WestWon on Tel: 01494 611 456.

You can also download  Financing Your Business Plans – a guide to equipment leasing.

 

Leasing VOIP Telephony Equipment As Part Of Your Office Fit Out

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When WestWon moved to its new offices at the Old Rectory in Beaconsfield, Bucks, we undertook a major office fit out – everything from desks, chairs, partitions to boardroom furniture and flooring to laptops and AV equipment. Being a character building, the Old Rectory is full of charm … and also quirks, as we discovered when it came to fitting it out.

Naturally, as a leasing company, leasing the fit out was the obvious solution for us. And as part of our office refit we took the decision to install a new Voice Over IP (VOIP) telephone system – telephony equipment that uses the internet as opposed to a “normal” land line.

Leasing technology as well as furniture

Initially we were slightly dubious about the technology. Will it work? Will the service be secure and reliable? Will the sound quality be OK? Such doubts were unfounded.

Thus far, leasing our telephony has proved a sound business decision. The running costs are not just significantly lower, but the system also offers a number of key benefits.  One example is how well it integrates with our CRM system – simply ‘right click’ on any telephone number in the system and press dial and, within seconds, we’re having a conversation. It is also very easy to set up the system for use from home as long as you have a laptop and an Internet connection.

Integrated telephony leasing

Of course, WestWon has also helped many other companies, large and small, to secure lease finance for their office fit out including telephony systems. In our experience, many sales organisations also choose to install a PBX system on the wall to monitor activity – quite an expensive item and ideal for leasing.  And in general, at around £100 per CISCO handset together with the set up costs, telephony leasing certainly has its attractions for both established and new start up businesses.

For more information about leasing VOIP telephony or any other IT equipment, or indeed any aspect of a planned office move, refurbishment or fit out, please contact WestWon on Tel:01494 611 456.

Scientific and Medical Equipment Leasing Offers Greater Benefits for Patients and Organisations

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Technology continues to advance at a rapid pace, which is particularly evident in the scientific and medical fields. However, keeping up with science can be a drain on the finances for any organisation or medical practice. Scientific and Medical Equipment leasing allows surgeries, hospitals, dental practices, laboratories, pharmacies, opticians, universities and veterinary practices to easily upgrade technology and avoid equipment obsolescence. Indeed, one of the fastest growing and most popular ways for the sector to finance equipment and technology is through a lease agreement.

Benefits of Scientific and Medical equipment leasing

As well as the ability to frequently update specialist equipment without tying up available cash, a leasing scheme can offer 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.

Leasing offers the flexibility to acquire the latest technology required straight away to ensure equipment is up-to-date, reliable and accurate to provide the highest quality of care for patients and optimum results. It prevents having to delay the implementation of plans until sufficient funds become available, enabling new technology to be adopted instantly.

Most types of Scientific and Medical equipment can be leased

From a dentist’s chair or a hospital bed to an entire operating theatre, 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. You can choose any combination of equipment and technology from multiple suppliers for your lease agreement.

Some of the most common types of scientific and medical equipment that can be leased include:

  • diagnostic equipment
  • surgical instruments
  • decontamination equipment
  • hospital beds and furniture
  • imaging technology
  • pharmacy equipment
  • laboratory equipment
  • surgery fit outs
  • security systems

 

WestWon Limited has a wealth of experience in providing asset finance solutions for the scientific and medical sectors. For more information, download the WestWon Fact Sheet for Scientific Leasing. Tel: 0194 611456 for more information or an instant lease quote.

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