Ready to Sell Your UK Asset Finance and Leasing Company? Explore Your Options with WestWon

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If you’re ready to sell your UK asset finance and leasing company, you may be wondering what options are available to you. You want to ensure that you get the best possible price for your company, but you also want to make sure that the sale process is smooth and stress-free. In this blog post, we’ll explore some of the options available to you if you’re considering selling your UK asset finance and leasing company.

What are some of your options?

Option 1: Sell Your Company Outright

One option for selling your UK asset finance and leasing company is to sell it outright to a buyer. This can be a good option if you’re looking to get the best possible price for your company, but it can also be a complex and time-consuming process. You’ll need to find a buyer who is willing to pay your asking price, negotiate the terms of the sale, and navigate the legal and financial aspects of the transaction.

Option 2: Merge with Another Company

Another option is to merge your company with another company in the same industry. This can be a good way to combine resources and create a more competitive and profitable company. However, it can also be a complex and risky process, as there are many factors to consider when merging two companies.

Option 3: Sell to a Private Equity Firm

A third option for selling your UK asset finance and leasing company is to sell it to a private equity firm. Private equity firms have a lot of experience in buying and selling companies, and they can provide you with a quick and efficient sale process. However, they may not always offer the highest price for your company, and they may be more focused on short-term profits than long-term growth.

Option 4: Sell to a Management Buyout Team

Finally, you can consider selling your UK asset finance and leasing company to a management buyout team. This is a group of employees or managers from your company who are interested in buying the company themselves. This can be a good option if you want to ensure that your company stays in the hands of people who are invested in its success, but it can also be a complex and risky process.

Contact Us

Selling your UK asset finance and leasing company is a big decision, and there are many factors to consider when choosing the right option for you. However, you can have confidence that you’re making the best choice for your company. We have years of experience in helping business owners sell their companies, and we can help offer insights on how this process works. Contact us today to learn more about how we can help you sell your UK asset finance and leasing company.

What rising interest rates mean to leasing equipment

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Interest rates have been a major concern for business owners who rely on leasing equipment. As the economic climate continues to change, interest rates might increase due to various factors, such as inflation. If you’re thinking of leasing equipment, a key aspect to consider is the impact of rising interest rates on your business operations. This blog post will provide insights into what rising interest rates mean to leasing equipment and tips on how you can mitigate their impact.

  1. Increased Monthly Payments

When interest rates rise, monthly payments on leasing agreements also increase. These higher monthly payments can impact your cash flow and business operations, particularly if your business is heavily reliant on leasing equipment. You might find yourself allocating more funds towards leasing payments, which can negatively affect investments in other areas of your business. With this in mind, you’ll need to re-evaluate your budget and forecasted expenses to ensure that you can handle the increased leasing payment costs. Here at WestWon we provide fixed monthly payments. Therefore, once the agreement has started, there will be no increase in the amount you are paying monthly.

  1. Limited Equipment Options

Rising interest rates can lead to increased costs in the leasing industry, causing some leasing companies to limit their equipment options. The cost of leasing equipment might go up since there will be a smaller pool of companies that can offer leasing at a reasonable cost. As a result, you may find that you can’t access all the equipment you require. To tackle this, you can plan by researching and securing leases for the equipment you need before rates rise.

  1. Purchasing Equipment Outright

Rising interest rates are a concern, and the potential of increasing leasing costs might prompt business owners to consider purchasing equipment outright. While this is an option, it might not be suitable for all business owners. Some equipment might be too expensive to purchase outright, and there’s the possibility of tying up capital in the process. Before deciding to purchase equipment outright, evaluate your business needs, goals, and budget to determine if it’s a viable option for your business operations.

Rising interest rates can become a cause for concern if your leasing equipment for your business. Business owners must understand the implications of rising interest rates on monthly lease payments and seek ways to mitigate the impact. Strategies include re-evaluating your business’ needs, purchasing equipment outright, and planning ahead to access equipment before rates climb. With these tips in mind, you can navigate the changing economic landscape with ease and lease equipment that supports your business growth. Get in touch with us today to find out more.

Meet the Newest Members of the WestWon Team

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Read below to meet the newest members of the WestWon team…

At WestWon, we pride ourselves on being a dynamic and forward-thinking team. We are constantly striving to deliver the best possible service to our clients. In keeping with our commitment to excellence, we are delighted to introduce you to our latest team members. We are confident that their skills, experience and professionalism will help us to maintain our high standards here at WestWon.

Tom Walker – Corporate Account Manager

Introducing Tom Walker, our newly appointed Corporate Account Manager. Tom has recently stepped in as the temporary replacement for a colleague on maternity leave. With his principal responsibilities being the care and growth of our existing clientele in London, along with the extensive territories of East and West Midlands, and Wales. His role involves maintaining customer relationships, ensuring their needs are met, and addressing any issues or queries they might have.

Before joining us, Tom worked in a recruitment company, where he honed his skills in client management, communication, and negotiation. Tom’s keen insights, coupled with his commitment to client satisfaction, make him a valuable addition to our team.

Ryan Connor – Corporate Account Manager

We’re also pleased to introduce Ryan Connor, the latest addition to our team, also serving as a Corporate Account Manager. Ryan has taken on the role as maternity cover for a colleague who had been catering to our valued customers in the regions of East England, North East, North West, Yorkshire & Humber, Scotland, and Northern Ireland. He is charged with nurturing these client relationships, addressing their unique needs, and ensuring the smooth resolution of any concerns or challenges that may arise.

Ryan brings with him a wealth of experience, having spent eight years in sales. However five of these were dedicated to the role of an account manager. Therefore this tenure has equipped him with a robust skill set that includes customer relationship management, strategic negotiation, and in-depth product knowledge. With his expertise, dedication, and customer-centric approach, Ryan is undoubtedly a strong asset to our team.

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At WestWon, we believe that our people are what make us stand out from the crowd. Each and every member of our team brings a unique set of skills and experiences to the table, and we are delighted to welcome our newest members to the fold. With Tom and Ryan on board, we are confident that we will continue to deliver a service that is second to none. Our team is expanding, but our commitment to building long-lasting relationships with our clients remains the same. Contact us today to see how our team can help your business achieve its goals.

Refinance your equipment purchases through WestWon

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For a business, the importance of making wise financial decisions is key. One of the most significant investments you may make is purchasing essential equipment for your company. But what do you do when you’re struggling to keep up with payments? Refinancing your equipment purchases may be the solution. In this blog post, we’ll cover everything you need to know about how to refinance your equipment purchases through WestWon.

What is Equipment Refinancing?

Equipment refinancing is the process of replacing your existing financing arrangement for a lower interest rate. It will also improve cash flow, and reduce monthly payments. It involves securing a new agreement with a different financier to pay off the existing outstanding equipment balance at a lower repayment rate and extending the payment terms of the lease agreement.

Why Refinance your Equipment Purchases?

Refinancing your equipment purchases could be ideal for your business if you need to:

Increase cash flow: Refinancing can free up cash that was previously tied up in equipment payments. This increased cash flow can be used to reinvest in your business, pay down other debts, and meet other financial obligations.

Reduce monthly payments: By refinancing your equipment purchases, you can reduce your monthly payments,. Therefore this will make your business more affordable and more profitable.

Why Choose WestWon?

We are a UK leading finance lender specialising in equipment financing and refinancing. With over 40 years of expertise in the finance industry and knowledge of the equipment market, we can help you tailor a financing solution that best meets your business needs. Here at WestWon we offer several benefits for equipment refinancing, including:

Flexible finance terms: WestWon provides terms to suit your requirements, ranging from six months to five years, ensuring you end up with the configuration that best suits your needs.

Reduced paperwork: WestWon’s online application process reduces the amount of paperwork required to refinance your equipment purchases.

Fast Approval: WestWon’s quick approval process ensures you almost always receive a decision within 24 hours of your application’s submission.

Equipment refinancing can be an excellent way to help your business access a new line of credit, benefit from lower interest rates, reduce monthly payments and improve cash flow. WestWon’s flexible finance terms, reduced paperwork, and fast approval make the equipment refinancing process stress-free. If you’re looking to refinance your equipment purchases, here at WestWon we offer an excellent solution to help you achieve your business goals. Contact us today to learn more about how to refinance your equipment purchases through WestWon.

A List of UK leasing funders and lessors

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In the dynamic world of business, obtaining essential assets and equipment is often a critical step towards achieving growth and success. Leasing solutions have emerged as a viable way for businesses to acquire what they need without the upfront capital outlay. At WestWon, we recognise the importance of connecting businesses with the right leasing partners. In this blog, we present a list of prominent UK leasing funders and lessors, equipping you with the knowledge to make informed decisions throughout your leasing journey.

Leasing funders and lessors play a vital role in facilitating asset acquisitions for businesses. These entities provide the necessary funds on lease, allowing businesses to access equipment, machinery, and technology without the burden of outright ownership. By comprehending your unique needs, these partners can help find solutions that align with your financial goals and operational requirements.

A List of UK Leasing Funders and Lessors from WestWon

  1. Aldermore Asset Finance – Aldermore offers a wide range of leasing and asset finance solutions tailored to the needs of SMEs. With their expertise spanning various industries, they assist businesses in securing the equipment they require to thrive.
  2. BNP Paribas Leasing Solutions – BNP Paribas specialises in flexible and customized leasing solutions. With a strong focus on sustainability, they provide a variety of financing options for businesses seeking to acquire assets responsibly.
  3. Siemens Financial Services – Siemens offers leasing and financing options for businesses aiming to acquire technology, machinery, and other valuable assets. Their innovative approach aligns seamlessly with the evolving needs of businesses.

Why Choose WestWon?

At WestWon, our dedication to your business’s success goes beyond providing leasing solutions. We firmly believe in empowering businesses with knowledge and access to a meticulously curated list of reliable leasing funders and lessors. Our extensive network of partners reflects our unwavering commitment to supporting your growth journey.

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In conclusion, when it comes to acquiring assets for your business, partnering with the right leasing funders and lessors can make all the difference. With our guide to prominent UK leasing partners, you can confidently navigate the asset acquisition process. Therefore you will propel your business towards greater achievements. Contact us to find out more about your finance needs today and how we can help.

A Guide to Writing a Comprehensive Business Plan

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For every successful business, a comprehensive business plan is the foundation. It is essential to have a clear road map of the direction you want your business to go, and a well-written business plan can help you achieve that. A business plan is not just a document to secure funds or attract investors, but it is also a tool to help you navigate the daily operations of your business. In this blog post, we will take you through a guide to writing a comprehensive business plan.

  1. Executive Summary

An executive summary is a brief overview of your business plan. It should be no longer than two pages and should summarise all the critical aspects of your business plan. This section should outline your business’s mission statement, target audience, products or services, revenue projections, and funding requirements. Remember, this is typically the first section that people will read, so make sure it is compelling and sets the tone for the rest of the business plan.

  1. Company Overview

The company overview section of your business plan should provide a thorough summary of your business. This section should describe the history of your business, the product or service you offer, your target market, and your competitive advantage. It is essential to be clear and concise when describing your business and its functions.

  1. Market Analysis

The market analysis section provides an overview of the industry in which your business operates. It should include a description of the industry’s size, potential growth, and current trends. This section should also include a detailed analysis of your target market, including demographics, psychographics, and buying behaviours. This key section should help you outline your business’s marketing strategy that outlines your plan to access the market, promote your business, and reach your target audience.

  1. Products and Services

This section provides a detailed description of the products or services that your business offers. It should include information about the price, features, and benefits of your products or services. Make sure that you clearly describe what makes your product or service unique, better than your competitors and how it meets your customer’s needs.

  1. Financial Plan

The financial plan section of your business plan should outline your business’s financial projections. This should include your projected income statement, balance sheet, and cash flow statement for the next three to five years. Additionally, include information about your funding requirements, such as loans. Make sure that your financial projections are realistic and based on your market and industry analysis.

A well-written business plan is critical for every business owner and writing one can sometimes be time-consuming and intimidating. However, the benefits of having a comprehensive business plan outweigh the effort it takes to write one. A great business plan will serve as a road map and help you navigate the daily operations of your business. If you have any further questions on how we can help your business grow, please contact us by calling us on 01494 611 456, or for more information on a guide to writing a comprehensive business plan.

A list of UK asset finance and leasing brokers

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Whatever business you are a part of, asset finance and leasing are important aspects of running a successful business. However, with so many options available in the UK market, it can be challenging to find the right broker that meets your unique needs. That’s why we have put together a small list of UK asset finance and leasing brokers to help you streamline your search and make an informed decision for your business.

Explore a few UK Brokers below

  1. Portman Asset Finance – Offering an extensive range of financing options, Portman Asset Finance caters to diverse industries, including manufacturing, construction, and healthcare. Their expertise lies in providing bespoke solutions that empower businesses to acquire the assets they need.
  2. Shire Leasing – With a strong focus on leasing solutions, Shire Leasing covers assets such as vehicles, technology, and machinery. Their dedicated team offers personalized advice and financing structures to optimize your asset acquisition journey.
  3. Oak Leasing – With decades of industry experience, Oak Leasing specializes in financing solutions for SMEs. Their commitment to flexibility, customer service, and innovative financing structures sets them apart in the market.

Why WestWon?

As a leader in the asset finance and leasing industry, WestWon is proud to offer our expertise and commitment to your business’s success. Our team has over 362 years of combined experience in leasing and asset finance. Furthermore, we are supported by a well-trained, knowledgeable, and friendly team. We also have access to 52 UK based lenders in the leasing, asset finance and business funding sector. We aim to help all businesses with their finance needs whatever they may be. Our specific plans are tailored to you and your business to help you reach the best possible next steps.

Contact Us

Finding the right asset finance and leasing broker is crucial for the success of any business. This list of UK asset finance and leasing brokers provides a great starting point for business managers looking for the perfect fit. From equipment leasing to vehicle financing, each of these brokers offers bespoke solutions. By choosing the right broker, businesses can access the financing they need to grow and thrive in today’s competitive market. Contact us to find out more about how we can help you and your finance needs today.

What a journey of job development looks like at WestWon

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At WestWon, we’re proud to offer our employees a dynamic workplace environment where they can develop their skills and grow their careers. Today, we’re excited to share with you the story of one of our team members who embarked on a journey of job development at WestWon. Read on to discover her story and learn what a journey of job development at WestWon looks like.

Hear from Millie

“For me, the journey started with a placement year at WestWon. Excited to explore the world of leasing and finance, I worked in the marketing department. I also learned about the different solutions offered by WestWon. I also developed my communication skills and gained a good understanding of how a business operates. This real-world experience was an excellent complement to my studies.

After completing my placement year, I returned to Nottingham Trent University. Here I finished my final year of a Business Management and Marketing degree. It was here that I learnt modules such as Comparative International Management and Digital Customer Experience. A couple months after graduating I was thrilled to be given the opportunity to return to WestWon as a part of the marketing team for a 6-month period.

Upon returning, I was given a wide variety of tasks, from content creation to SEO optimisation and lead generation. Since being here for only 3 months I have already been able to help monitor new projects. This includes our most recent new sister companies, Corporation Tax Loans and VRW Healthcare Funding.

Now I am almost halfway through my 6 months at WestWon. I feel that my journey of job development at WestWon has been an incredible experience. I have been able to work, yet again, in a dynamic environment with supportive colleagues. However, I have also grown both as a person and as a professional.”

Are you interested?

At WestWon, we believe in cultivating a supportive and nurturing environment. Through the journey of job development experienced by our team member, you can see how we aim to achieve this. We provide our employees with real-life experiences, offering a diverse range of tasks and support them every step of their journey. We strive to create a culture where job development is a continuous journey, and our team members can grow and thrive in this profession.

If you are interested in working for an exciting and supportive company and you want to learn more about the job roles we have going then please get in touch with us. You can either contact us through our careers page, or call us for a confidential chat on 01494 611 456. If you would like to see the roles we currently have available then please take a look at our careers page.

Understanding the Asset Finance and Leasing Industry in the UK

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Understanding the asset finance and leasing industry in the UK is a crucial aspect of the country’s economy. This industry involves financial institutions providing funding for the acquisition of new or used physical assets. It encompasses a wide range of assets, including vehicles, machinery, small and large equipment, and loans, among others. In this article, we explore how many asset finance brokers and leasing companies there are in the UK. We also look at what businesses need to know about this industry.

According to Asset Finance Policy, they currently list around 400 independent brokers specialising in leasing on their system. This number includes various leasing companies that offer equipment leasing and other specialised financing options.

What does the FCA do?

Asset finance and leasing providers are regulated by the Financial Conduct Authority (FCA). They monitor the industry to ensure that all activities meet the required standards. The FCA sets out detailed rules and guidelines that asset finance and leasing providers need to follow. This includes transparency, affordability, and customer protection. Furthermore, established asset finance providers have a wealth of experience and stability. This therefore provides valuable options for businesses and individuals who have an interest in this sector.

Businesses that require financing solutions can benefit greatly from the services provided by leasing companies and asset finance brokers who are experts in this field. The benefits include access to a range of financing options, advice on the best financing options for specific business needs, and financial expertise that can help improve business performance. The industry’s flexibility is also an advantage when it comes to the different requirements businesses may have, with many options for varying business sizes and sectors.

There are also options available for start-ups and businesses with poor credit history. These options are often considered riskier and, therefore, have higher interest rates. However, they are still available, allowing businesses to access the financing that they require. This accessibility can often be the deciding factor that enables businesses to acquire essential assets or access funding for expansion and growth plans.

Contact Us

In conclusion, understanding the asset finance and leasing industry in the UK provides an important service to businesses across a variety of sectors. With regulations and multiple options for financing, businesses can access the right funding to support their growth plans. At WestWon, we are committed to providing businesses with expert advice and tailored asset finance solutions. Our experienced team understands the intricacies of various industries and can guide you through the process of acquiring assets efficiently. Contact us today to explore the possibilities of asset finance and take your business to new heights on 01494 611 456.

Do Bank of England interest rate increases impact my lease agreement?

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As a business owner, it is important to understand how different factors can impact your lease agreement. One such factor is the interest rate set by the Bank of England. A change in the interest rate can have a significant impact on your decisions. Therefore, it is important to know how it can affect your lease agreement. In this blog post, we will explore the ways in which the Bank of England interest rate increases, currently standing at 5.00%, can impact your existing lease agreement.

How Bank of England interest rates will have an impact on your lease agreement

Firstly, you should understand that a change in interest rates will not directly impact your lease agreement. In most cases, your lease terms will remain the same, and your monthly payments will continue as agreed. However, an increase in interest rates could lead to economic uncertainty, which could affect your business’s finances.

Linking to the above point, interest rate increases can also lead to an increase in inflation. This could result in an increase in the cost of goods and services. This in turn could impact your business’s expenses and revenue. If your lease agreement includes a clause that allows for adjustments in line with inflation, you may see an increase in your monthly lease payments. Here at WestWon, we offer fixed monthly payments, therefore once your agreement is activated the rate will remain the same.

If your current lease agreement is coming to an end and you are needing to negotiate a new lease agreement, the current interest rate can impact the new rate you are able to obtain.

A change in interest rates can impact the value of lease agreements. If the interest rate increases, the value of a lease agreement could decrease as the cost of borrowing increases. This could result in your lease agreement needing to change in order to reflect the change in lease value.

Finally, if you find yourself facing financial difficulties as a result of a rise in interest rates, you could consider restructuring your business finances to improve your cash flow. Where possible make sure to check the agreement length before entering into the agreement. Make sure you can commit to the entire monthly payment period.

Contact Us

As a business owner, it is important to understand the impact that Bank of England interest rate increases can have on your existing lease agreement. With careful consideration of the potential impacts, you can assess your lease agreement and help protect your business from unexpected increases in lease payments. Here at WestWon we provide fixed monthly payments. These increases therefore, once the agreement has been signed, will have no impact on your existing lease agreement. You can contact us on 01494 611 456 to find out more information.

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