What Kind Of Business Equipment Can I Lease?

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You can lease almost any type of business equipment or IT technology, including software. You simply chose the equipment you need to grow your business and WestWon provides the funding.

As WestWon is completely independent of any supplier or manufacturer, you can choose any combination of equipment and technology you require for your lease agreement. WestWon is also happy to help recommend suppliers if you don’t have one in mind.

Key benefits of leasing for business

  1. Lease payments can be set against profit, thereby potentially reducing tax bills.
  2. Flexibility and cash flow boost: you can obtain the business equipment and technology you need without tying up available cash and lines of credit.
  3. Your business can also get an instant Return on Investment as once you make a set initial payment, you can acquire and start using the asset immediately, while spreading payments over the useful life of the equipment.
  4. Flexible repayments: lease payments can be tailored to match seasonal cash flow. You can also choose a fixed interest rate, which protects against interest rate rises and enables you to plan your budget effectively.
  5. Avoidance of equipment obsolescence and easier upgrades in the future: increasingly vital as more and more businesses are becoming technology-driven.

For more information about how leasing can be put to work for your business, contact WestWon on Tel: 01494 611 456.  Or see us on YouTube

3 Key Facts About Leasing Equipment For Business

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Whether you are a new start business, an SME or a large company, you may find yourself thinking about leasing equipment, machinery or office furniture, fit outs and moves for the first time. Perhaps you have moved companies, taken on a new role within your existing company or are simply expanding fast and wish to safeguard your all important cash flow. Whatever the circumstances, here are 3 useful things that you should know about leasing…

How does leasing work?

When you enter a lease agreement, the contract is between your business and the leasing company. Simply select the equipment you require and agree the price with your chosen supplier. A lease agreement is then drawn up by the leasing company.

Once the lease documents have been signed and returned, arrangements will be made for the supplier to deliver the equipment. On receipt, you sign a ‘certificate of acceptance’, which effectively states that you have received and are happy with the equipment. The leasing company then pays the supplier. You pay the company (the lessor) a regular rental payment, typically across two to five years.

What does it cost to lease equipment?

The rental is calculated by adding the equipment price after the Residual Value has been deducted, plus the interest due over the term of the agreement. The interest will depend on the amount you finance, the term of the agreement and frequency of repayments. It works just like a mortgage – the shorter the term, the less interest paid.

How to choose a leasing company

Selecting the right 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. A recent BBC Panorama documentary highlighted the need to diligently check the credentials of any company you may wish to deal with. Remember to 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.

For more information about all aspects of leasing, please contact WestWon on Tel: 01494 611 456. You can also download a free guide to Financing Your Business Plans with Leasing HERE.

Small Businesses Need Better Access To Funding For Growth

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Small companies’ access to finance is the issue which business secretary Vince Cable worries about the most, he has revealed.

Speaking at Innovate UK in London, Cable said: “We’re dealing with the legacy of a terrible financial crisis and it will take a while to get lending flowing to SMEs. This is the one subject which keeps me awake at night.”

The business secretary added that “banks aren’t doing what they should be doing – lending to SMEs” despite government initiatives like Funding for Lending which he admitted “frankly isn’t yet working the way it should”.

Saying that ministers are trying to get capital flowing to small firms, Cable stressed: “We realise there’s a terrible problem but we’re doing all we can.” 

WestWon’s Jeremy Hall commented, ” Access to funding and protecting cash flow remains a major issue for many SMEs today. That’s why many more businesses are actively looking at leasing as a positive way to invest and grow.”

Read about the Benefits of Leasing or call Tel: 01494 611 456 for more information.

https://www.businesszone.co.uk/topic/finances/small-firms-not-getting-funding-keeps-me-awake-night-says-vince-cable/48859

New Leasing Calculator Makes It Easy to Compare Lease v. Buy Costs

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WestWon has launched a new online leasing calculator to make it simple for businesses to estimate the costs of leasing new equipment. Read more

Companies Prefer To Lease Waste Equipment

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Many businesses need new waste equipment – such as balers, recycling machinery, compactors and shredders – but are reluctant to tie up existing capital or lines of credit.

That’s why leasing is often a better option than buying. After all, asset finance now helps to fund 27% of all fixed-capital investment in the UK.

Companies can lease almost any type of waste equipment – just take a look at our new Waste Equipment Leasing video for some examples. Over 5,000 views already.

For more information, contact WestWon today on Tel: 01494 565 611

Answers to your Business Leasing Questions?

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If you are asking if leasing and asset finance is right for your business and how to find the best leasing deals, have a look at WestWon’s new Frequently Asked Questions (FAQs) about leasing and asset finance.

You may well find the answer to your question here. If not, we’ll be glad to help further – simply call us on Tel: 01494 611 456 or email [email protected]

More and more businesses are using asset finance and leasing. Asset finance now helps to fund 27% of all fixed-capital investment in the UK. And organisations across every market sector benefit from leasing from new start-up businesses to large established companies. It could be the solution you have been looking for.

Leasing for Processing and Packaging Machinery

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When a business needs new equipment, but would prefer not to tie up existing capital or lines of credit, leasing is a great option.

After all, Asset finance now helps to fund 27% of all fixed-capital investment in the UK.

Companies can lease almost any type of processing and packaging equipment – just take a look at our new video for some examples.

For more information, contact WestWon today on Tel: 01494 565 611

Growth of Mid-sized Businesses Essential to the Economy

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A recent CBI’s report forecast that mid-sized organisations could add up to £50bn to the UK economy by 2020 . However,  Neil Bentley, the CBI’s deputy director general commented, “Even with the right level of ambition firms will struggle to grow if they lack the right capabilities internally.”

According to Daniel Ball, writing for Real Business, if mid-sized organisations  don’t ‘tool up’ for growth their potential could be hampered by cash flow issues, supply chain inefficiencies, and a lack of business visibility. This is a critical time in their development and they can’t afford to lose focus.’ http://realbusiness.co.uk/news/dear-mid-market-please-dont-change-that-much

Here at WestWon, we couldn’t agree more. And we firmly believe that leasing and asset finance has a bigger role than ever to play in boosting business growth and the economy.

UK asset finance market growing by 9%

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According to the latest figures from the Finance & Leasing Association (FLA) The UK asset finance market grew by 9% in the second quarter of 2012 with new business volume for the three months to the end of June of £5.3bn (€6.6bn) compared to £4.9bn in 2011.

The FLA said more than 50,000 businesses invested in new equipment using leasing over the three-month period with more agreements were made through commercial finance brokers and equipment suppliers, with both channels up by 14% in the quarter.

WestWon’s CEO Jeremy Hall commented, “Our experience mirrors these findings, both within Buckinghamshire and UK-wide. Confidence amongst small and medium sized businesses in particular is strong and we also experiencing a sharp increase in enquiries from potential equipment suppliers and partners.  Overall, new business is growing steadily versus the previous year.”

#buckinghamshire #bizitalk

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