Everything You Need To Know About Leasing For Your Business

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Perhaps like many businesses, from new start ups and SMEs to larger companies, you have come round to the idea that there must be a better way to secure funding for your business plans than relying on bank lending. Despite recent initiatives, securing finance this way still remains a tricky and long-winded process, whereas equipment leasing can be very quick to arrange and avoids the need for upfront capital outlay.

What Is Equipment Leasing?

Leasing enables you to pay for the equipment you need over a fixed period of time – typically two to five years through a series of contractual, tax deductible payments. Put simply, the leasing company (the lessor) buys and owns the asset. The customer (or lessee) then hires use of the asset, paying rental over a fixed period. At the end of the contract, the customer usually has a choice of extending the lease, buying the asset or simply returning it.

Finding Out More About Leasing

Clearly, if you have not undertaken a lease finance agreement previously, you will wish to research the topic thoroughly. That’s where the Financing Your Business Plans: WestWon Guide to Leasing comes in: it has been written to help businesses like your get up to speed with leasing terminology and to provide a concise overview of leasing. It is available to download from the website now.

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. After all, 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.

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

For an outline cost comparison of Leasing versus Buying business equipment. please take a look at our Equipment lease calculator.

Best Local leasing Options Yield Benefits In Rural Norfolk

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The Federation of Small Businesses (FSB) has reported that two thirds of small firms expect to grow in the next 12 months and one in four plans to increase the amount of investment in their business. This national picture is also being born out locally in Norfolk, where WestWon leasing company is helping organisations of all sizes to achieve their growth plans through the best equipment lease deals for their needs.

Of the 34 non-metropolitan English counties, Norfolk is the seventh most populous, with a population of 859,400 with a low population density. It is a largely rural county where over 20% of employment in the county is in the agricultural and food industries. Tourism is another important business sector for the county along with energy (oil, gas and renewables) and advanced engineering and manufacturing. Well-known companies in Norfolk include Aviva (formerly Norwich Union), Coleman’s (part of Unilever) and Bernard Matthews Farms.

One of the fastest growing and most popular ways for businesses in Norfolk to finance their investment in equipment and technology is through a lease agreement. Leasing allows all sorts of retailers, manufacturers, finance companies, doctors, dentists, opticians, hotels, health clubs, restaurants and food production companies in the county to easily upgrade technology and avoid equipment obsolescence.

As well as the ability to frequently update specialist equipment without tying up available cash, a leasing scheme can offer considerable tax benefits. 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 and even maintenance agreements. Any combination of equipment and technology can be chosen from multiple suppliers and organised within a single lease agreement.

With over 10 years of experience in serving businesses in Norfolk WestWon has recently provided over 45  leasing deals in the area, including 15 in Norwich and 10 leasing deals in Kings Lynn. WestWon is a leasing company that possesses valuable local knowledge to help companies find the right leasing solution for their particular business and has 154 local leasing suppliers and partners in Norfolk including 10 in Diss, 21 in Great Yarmouth, 24 in Kings Lynn, 61 in Norwich and 10 in Thetford, and also works with many of the 465 Norfolk schools as well to provide iPads and tablets for education.

WestWon Limited can provide asset finance solutions for a variety of organisations in Worcestershire. For more information, download the Essential Guide to Leasing for Business.

Leasing In Durham Helps Boost Local Business Growth

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Durham is the county town of County Durham. The city sits on the River Wear to the south of Newcastle upon Tyne and the north of Darlington. Durham is well known for its Norman cathederal and 11th century castle.

As the economy starts to pick up, more and more companies in Durham and throughout the county of  Durham are investing in capital equipment with the help of flexible leasing solutions from local asset finance companies.

One of the fastest growing and most popular ways for businesses to finance their investment in equipment and technology is through a lease agreement. Leasing allows all sorts of retailers, manufacturers, laboratories, opticians, health clubs, restaurants and construction companies in Durham to easily upgrade technology and avoid equipment obsolescence.

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.

From IT equipment or medical technology to an entire office refurbishment, a wide range of specialist equipment can be leased locally as well as entire projects. Some of the most popular types of equipment leased in Durham 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 has been helping businesses of all sizes and sectors in Durham drive their business forward by arranging lease agreements to meet their needs. With a network of over 60 finance partners and suppliers throughout in the Durham area, including 10 in Durham and 12 in Darlington the company is able to provide each business with a tailored service and a dedicated account manager. The company also works with many of the 300 schools in the area, including 25 in Chester Le Street and  21 in Consett.

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

Top 10 Blogs You Should Read When Thinking About Leasing

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Thinking of leasing equipment for your business, but not sure where to start? Here are ten useful blogs on the benefits, processes and costs of leasing assets:

The Eight Wonders Of The Business Leasing World

Why are businesses increasingly opting to lease a wide range of equipment and technology rather than purchase it outright? Here is a list of eight benefits companies of all sizes can enjoy by arranging a flexible lease agreement with a reputable leasing partner. Read more…

Keep Pace with Technology With IT Leasing

With technology changing at such a speed, businesses of all sizes in almost every sector frequently need to upgrade or expand their IT equipment, so is IT leasing the answer? In fact, over 90% of the top 100 companies now lease computer equipment. Read more…

Finance Your Business Plans Without Compromising Your Cash Flow

Whether you are looking to refurbish your existing work space or are opening brand new offices, leasing can help you create your dream work environment. From planning and design to interior finishes and furniture, a lease agreement can provide a flexible and tax efficient way to finance your plans. Read more…

How Start-up Businesses Can Lease As They Grow

Paying upfront for equipment or an asset can be a significant drain on the working capital for most businesses. In 2014, raising finance for business equipment and assets continues to be a challenging issue for companies, particularly new businesses just starting out. Read more…

How To Choose The Right Leasing Company

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. A recent BBC Panorama documentary highlighted the need to diligently check the credentials of any company you may wish to deal with. Read more…

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

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 has announced in the March 2014 Budget that there would be a temporary increase in AIA limit. Read more…

Calculate The Cost of Leasing V. Buying Equipment For Your Business

Obtaining an outline leasing quote could not be easier. And doing so will help your business compare the cost of leasing versus buying the capital assets you require. Read more…

Best Leasing Deals And What The ‘Cheapest’ Leasing Rates Really Mean

When browsing for leasing deals, you may find leasing companies advertising the ‘cheapest leasing deal’ or ‘cheap lease rates’. But what do those Internet ads really mean? Read more…

Questions You Should Ask About Leasing IT And Computer Leasing

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. Read more…

Everything You Need To Know About Leasing For Your Business

Perhaps like many businesses, from new start-ups and SMEs to larger companies, you have come round to the idea that there must be a better way to secure funding for your business plans than relying on bank lending. Read more…

For more information about leasing call WestWon on Tel: 01494 611 456

 

Checklist Of 10 Things to Remember When Moving Offices

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Just like moving home, moving office can be a stressful time. There are so many things to remember along with those last minute hitches, not to mention trying to ensure that it is business as usual for your customers.

Here is a checklist of some of the most important things to consider when relocating your business premises:

  1. Firstly, if you rent your current offices, check the terms of your existing office lease regarding the process of serving notice and length of notice period you are required to give the landlord.
  2. Research good removals companies, office design consultancies, IT specialists and solicitors. Selecting the right companies to work with will help ensure your move goes smoothly. It is always wise to get recommendations and references.
  3. Plan every stage of your office move. Make a list of everything you need to do and everyone you need to inform.
  4. Make an inventory. Decide what furniture and equipment you will take to the new premises and what new items you need to source. Maybe you will decide on a complete fit out of your new offices?
  5. Plan the layout of your office, including where each department and individual will be located. Involve and engage your employees in the discussions where possible and feedback their needs and concerns in teams, so you can address sensitive issues early on.
  6. Remember that timing is everything. Plan the timing for your move carefully. Avoid moving at the busiest time of the year for your business.
  7. Be clear on the IT needs of each team or area in the new office with your IT team and the timescales involved in getting staff up and running.
  8. Notify your customers, suppliers and utility companies of your move and your new contact details.
  9. Don’t forget to change your stationary and update your website along with any online listings or directories to reflect your new contact details.
  10. Lastly, an office move can be expensive, so you will need to agree a budget for the move. If you don’t want to compromise your cash flow, you may wish to consider leasing as a way to finance the fit out of your new office space. From planning and design to interior finishes and furniture, a lease agreement can provide a flexible and tax efficient.

For more information about leasing for an entire office fit out or furniture, download our free Office Furniture and Fit Out Brochure and the WestWon Guide to Leasing 

You can also access free Office Move Project Planner. Or download our free Keyhole Guides to moving office.

 

Hampshire Business Economy Stays Flexible With Leasing Finance Options

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Leasing is now one of the popular sources of funding when it comes to financing equipment for businesses throughout the UK and this is particularly evident in Hampshire, where leading local leasing company WestWon has recently arranged over 40 leasing agreements for a variety of organisations.

Hampshire is in the top ten of the largest counties by land area, covering approximately 1,400 square miles, and has a population of over 1.3 million. The largest towns in Hampshire are Havant, Basingstoke, Gosport, Eastleigh and Winchester. 85% of Hampshire is defined as rural and over a third of the county’s area is within National Parks or Areas of Outstanding Natural Beauty. With over 60,000 businesses in the county the focus has been on smart ways to foster business growth.

Leasing provides many the businesses in Hampshire with an easily accessible source of funding, which enables banking and other lines of credit to be kept free for any future cash flow issues or unexpected problems. And lease payments can be set against profit, thereby potentially reducing tax bills.

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

The lease itself can be tailored to suit local business 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.  Equipment for leasing can be sourced from multiple suppliers, and ‘soft costs’ such as maintenance agreements and project fees, can often be included in the lease agreement,

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 for locally leased equipment include furniture, computers, security systems and retail and restaurant fit outs.

WestWon Limited has many years’ experience working with organisations in the private and public sector in the county of Hampshire, helping them source manufacturers and equipment as well as arranging flexible lease agreements. As a leasing company with a strong local presence in Hampshire, WestWon is well placed to provide businesses with a tailored service with over 800 leasing partners and suppliers in the region, which includes over 100 in Basingstoke, 150 in Fareham and 52 in Portsmouth. Over 700 schools in Hampshire are also well catered for by WestWon’s local leasing solutions for education.

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

Planning and Finance Hold The Key To Successful Office Moves

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Moving offices? Or planning a fit out or refurbishment of a current workspace? From initial design to realisation, the whole process will certainly run a whole lot smoother with the right project planning tools and finance package in place.

Leading office furniture leasing company WestWon makes it easy for you to acquire both the project planning support you require and the office furniture and fit out lease finance too.

Office Move and Refurbishment Project planning.

WestWon has recently launched the Dream Office Move website – specifically designed to help businesses manage the sizeable task of relocating or upgrading their current office premises. The interactive website enables office move project leaders to rapidly product a structured step-by-step project plan for the whole office move using the  Dream Office Moves’ free 7-stage Project Plan.

This Project Planning allows those moving offices to build a personalised workplace transition plan simply by answering a few straightforward questions. Each project plan consists of staged actions, advice and information and pinpoints both priorities and the best strategies to minimise risk.  The office move project planner also generates a printable overview flow chart to visually guide users through each stage of their planned office move.

Also available on the Dream Office Move website is a series of free downloadable ‘Keyhole’ Guides to office moving, spanning topics such as:

  • Budgeting and Financial Planning for Office Moves
  • Checklist For A Successful Office Move
  • Employer and Employee Relations

Office Fit-Out Project Finance

As well as requiring a careful planning, office refurbishment, fit-out and furniture projects can also require significant up-front capital investment – however the rewards are only realised over time.

Alternatively, lease finance for office projects allows payments to be spread over time so that companies can reap the benefits of their new more productive environment before paying for it and without having to wait for large sums of capital to become available.

At WestWon, lease finance agreements are specifically tailored for office refurbishments and fit-outs and can include all aspects of the project including:

  • Office space planning and other professional services
  • Office furniture
  • Office ceiling leasing
  • Leasing office flooring
  • Leasing office partitioning and storage walls
  • Leasing for all types of blinds
  • Leasing for LED lighting
  • Leasing office infrastructure and IT

 

WestWon offers businesses an end-to-end planning and finance service for companies moving offices and seeking the best leasing options for their plans. Companies can enjoy the convenience of finance from a single source for a whole range of project needs. Plus an agreement tailored to individual requirements by experts in the Office Move and Fit Out field.

For more information, contact WestWon on Tel: 01494 611 456

Local Business Jets Ahead In Gloucestershire Thanks To Best Leasing Deals

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From Cheltenham to Stroud, businesses across Gloucestershire are increasingly recognising the benefits of local equipment leasing to finance capital investments in equipment and machinery. Leasing is after all a proven way of funding new and upgraded equipment without relying on bank loans, enabling organisations in The county of Gloucestershire to drive growth and increase productivity at a faster pace.

The county town of Gloucester has a long history in the aerospace industry. A sculpture in the city centre celebrates Gloucester’s aviation history and its involvement in the development of the first jet engine. Gloucester is also home to the headquarters of Cheltenham & Gloucester, a major mortgage lender.

Local leasing deals in the Gloucester area not only allow businesses in these and many other sectors to improve performance by acquiring the latest technology without tying up capital or existing lines of credit, but they also protect 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 the seasonal cash flow of a business.

A wide range of equipment, from IT hardware and software to packaging machines and medical technology, can be leased from your local leasing company. 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 as well as office fit outs and project costs for updating most types of commercial premises.

Local leasing company WestWon Limited has many years’ experience working with organisations in the private and public sector in the county of Gloucestershire, helping them source manufacturers and equipment as well as arranging flexible lease agreements. As a leading local leasing company, WestWon has recently completed over 35 deals in the county and is well placed to provide businesses with a tailored service with over 200 leasing supplier partners in the county, which includes 47 in Cheltenham, 35 in Gloucester and 43 in Tewkesbury.

WestWon Education also provides specialist education lease funding arrangements suitable for the 358 schools in the county.

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

Local Businesses Thrive Beside The Seaside In East Sussex

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Along with its neighbour West Sussex, East Sussex has a reputation as the sunniest place in England. It’s no surprise therefore that tourism plays a major role in the local economy. With a population of  less than a million and access to an enviable coastline, the region, which includes the South Downs National Park,  has been developed in order maximise the appeal of resorts such as Eastbourne and Brighton, for both tourism and the lucrative conference market.

Hotel, leisure and catering establishments – for example, restaurants, brasseries, coffee shops and bars – are just some of the local businesses that have looked to lease financing capital assets in order to grow their revenues and compete in the burgeoning service industry marketplace.

Local leasing company WestWon has recently helped many businesses in the region to acquire the hospitality and leisure equipment, IT infrastructure and, in some cases, even the office and premises fit outs they require by arranging the best leasing deals for individual enterprises and individual circumstances.

Leasing has an important role to play in that it provides businesses with the opportunity to fund assets as they use them and still keep vital lines of credit free. With leasing equipment can be paid for over a fixed period of time, which helps spread the cost.  In an area where many businesses are seasonal, the ability to arrange lease payments in sync with business cash flow is certainly a considerable advantage for many.

With years of leasing experience in serving businesses within the East Sussex area – in Brighton, Eastbourne, Hove and Lewes, for example, WestWon possesses valuable local knowledge and resources to help companies find the right leasing solution for their particular business, including a comprehensive list of local suppliers. In fact, WestWon has a database of over 200 resellers throughout the county

For more information on local leasing options for Essex and how to choose the best leasing company for your needs, download the Essential Guide to Leasing for Business.

Tips For Start Up Businesses Thinking About Leasing Office Equipment, Office Furniture & Fit Out

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For new start ups financing the cost of launching a new enterprise can be a huge challenge in today’s economy. Office equipment, office furniture and office fit out, for example, is one expense that most new companies incur and it can be quite costly depending on the type of business you are starting. Leasing office equipment is therefore a great alternative to purchasing because it offers many advantages such as the ability to pay for the items required over their useful lifespan.

An equipment lease is basically a rental agreement where a leasing company (the lessor) maintains ownership of the equipment and the business (the lessee) uses it in its business operation.  Leasing for office desks, computers, hardware, printers, IT infrastructure or copiers- or even an entire office fit out including partitions, acoustics, flooring, lighting etc –  can generally be arranged quickly and simply in a few easy steps. But what are some of the questions business owners need to consider when arranging a lease agreement?

What equipment can I lease?

There are generally few limitations on the types of products that a leasing company can arrange leasing for, although there are variations between different leasing companies. Some leasing companies have particular expertise in a sector and may be able to recommend suppliers as well as help you select the best product based on use and potential upgrades. In addition, installation costs and maintenance agreements can sometimes be included in a lease agreement.

What kind of leasing payment options are available?

If, for example, you run a seasonal business it may be possible to arrange a lease payment plan that suits your market.  It is a good idea to ask your chosen leasing company what flexibility there is in this regard.

What kind of support does a leasing company provide?

It is always preferable to work with a company that has support and resources readily available. Ask yourself how easy it is to contact the company, for example, phone, email, instant online chat, etc. What type of resources do they make available for you online? If the company web site offers articles, videos, FAQ section and a lease cost calculator and a blog about leasing consider it a major plus.

What about my credit score?

It is a good idea to compare leasing companies to find one that meets your needs, but it is not advisable to submit multiple lease applications as it may adversely affect your credit score. While the assets being leased serve as collateral, the credit standing of the business owner can form an important part of the approval process. For more information about equipment leasing and office furniture leasing, call WestWon on Tel: 01494 611 456 or download the Free Guide To Business Leasing For Start Ups

Download the Office Furniture and Fit Out brochure HERE

Free Office Move Planning tool HERE

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