Good News For the UK Economy And British Manufacturing

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According to a report by the Office For National Statistics (ONS) in June 2014 the UK now has one of the fastest growing economies in the G7.

Gross Domestic Product (GDP) is widely regarded as the key measure of economic activity and the ONS uses Nominal GDP – which measures the final market value of all goods and services produced in an economy – to compare the relative size of the UK economy to others in a given year.

The UK was the world’s eighth largest economy in 2012 in nominal GDP terms  with the US – the world’s largest economy – producing $16.2 trillion of output in that year – just over seven times that of the UK ($2.3 trillion).

The decade prior to 2012 saw the rapid emergence of the BRIC economies – Brazil, Russia, India and China. Annual GDP growth in China averaged 12.7% per annum over this period, with the economy consequently establishing itself as the second largest in the world, producing $12.3 trillion of output in 2012. Brazil, Russia and India also achieved similar rates of expansion.

The economic recovery in the UK has been the slowest in post-war history and has also been one of the weakest in the G7 . UK real GDP increased by just 1.2% per annum between 2009 and 2013, the third lowest rate in the G7, and remains 0.6% below its pre-downturn peak while all other major economies have surpassed this milestone, with the exception of Italy.

However, throughout 2013 and in the first quarter of 2014, the UK has moved from having one of the slowest growth rates in the G7 to one of the fastest. GDP has risen by 3.1% over the year compared with growth of 2.3% in Germany and 2.0% in the US.

At the same time it has also emerged that manufacturers enjoyed their strongest annual growth for more than three years in April 2014 with manufacturing output rising by 0.4 on the previous month, leaving it up 4.4% on the year, the fastest expansion since early 2011.

That drove a pick-up for the wider industrial sector, which also includes utilities, mining and waste management. Industrial output was up 0.4% on the month and 3% on the year, again marking the strongest growth for more than three years.

For more information about leasing for business growth, call WestWon on Tel: 01494 611 456

 

WestWon Offers Local Leasing Expertise For Businesses In West Midlands

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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 the West Midlands, where leading local leasing company WestWon has recently arranged over 80 leasing agreements for a variety of organisations.

Recovery in the West Midlands has been firmer than in other regions of the UK, with manufacturing performing strongly and the logistics sector also providing a significant and important component. The structure of West Midlands economy, with large globally ranked producers (such as JLR, Bentley, JCB, Toyota, Rolls Royce and Alsthom) sourcing products from precision-based SME manufacturers and traditional craft industries, ensures it is comparable to the more dynamic regions of the European economy.

Leasing provides many the businesses in the West Midlands 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 often 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 West Midlands, helping them source manufacturers and equipment as well as arranging flexible lease agreements. As a leasing company with a strong local presence in the West Midlands, WestWon is well placed to provide businesses with a tailored service with over 600 leasing partners and suppliers in the region, which includes over 200 in Birmingham and 90 in Coventry, 50 in Wolverhampton, and nearly 40 in both Walsall and Solihull. 1,200 schools in the West Midlands 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.

Local Leasing Is Flying High In West Sussex

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From Crawley to Worthing, businesses across West Sussex 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 West Sussex to drive growth and increase productivity at a faster pace.

The county of West Sussex is home to over 800,000 residents and around 31,000 businesses. The county has strong links to London to the north, and is adjacent to Brighton and Portsmouth to the East and West respectively. It also has good road links to surrounding areas of Kent, Surrey and Hampshire.

In the north east of the county, Gatwick Airport is a core economic asset, employing over 2,500 people, while Crawley is home to a number of manufacturing, engineering, logistics and services firms, including Nestle, Tui Travel, Thales Defence Electronics and Virgin Holidays. Surrounding Crawley are a number of smaller towns including Horsham, Haywards Heath, East Grinstead and Burgess Hill. Due to their transport links, these towns have a strong commuting element to their economies.

Local leasing deals in West Sussex not only allow businesses in a variety of 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 West Sussex, helping them source manufacturers and equipment as well as arranging flexible lease agreements. As a leading local leasing company, WestWon is well placed to provide businesses with a tailored service with over 250 lease finance partners and suppliers in the county, which includes 37 in Crawley, 29 in Horsham and 34 in Worthing.

WestWon has recently arranged 20 leasing agreements in West Sussex and also provides specialist education lease funding arrangements suitable for the 357 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.

Asset Finance And Leasing Grows As The UK Economy Exceeds 2008 Peak

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A recent report by the National Institute of Economic and Social Research (NIESR) has indicated that the economy will grow by 2.9 percent in 2014 and 2.4 percent in 2015 and on current plans the public sector finances will be in surplus by 2019.

Gross Domestic Product (GDP) reached 0.9 percent between March – May 2014 , which means that output was 0.2 percent higher at the end of last month than it was when the recession hit in 2008, when output fell by 7.2 percent in a year.

Experts at NIERS have hailed this – 6 years on – as a ‘symbolic milestone’ for the UK. This means that GDP will exceed its previous peak in 2008 in the next few months, although per capita GDP still remains well below its previous peak, and will not exceed it before 2017.

The Bank of England is now also predicting growth of 3.4 percent this year and the Office of National Statistics (ONS) also reported that British manufacturing is growing at its fastest rate for 4 years.

At the same time, concerns about productivity levels persist and the UK’s trade performance remains disappointing, with the current account deficit running at about 4 per cent of GDP, on average, over the period 2012–14, although improving subsequently as the global economy continues to strengthen.

The Finance & Leasing Association (FLA) has also reported that asset finance new business grew by 17% in March compared with the same month last year and was 13% higher in the first quarter of 2014 than in Q1 2013.

Lease finance for plant and machinery and business equipment saw the strongest growth in Q1 2014, up by 21% and 20% respectively, while IT equipment finance was 11% higher than in Q1 2013.

Commenting, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“In Q1 2014, the asset finance industry returned its best first quarter performance for five years, and the pattern of growth suggests a broad-based recovery in business investment.

For more information about nationwide and local leasing deals for business equipment call WestWon on Tel: 01494 611 456. Download The Free Guide to Leasing

Leasing Is The Answer To Cashflow Questions For SMEs In Derbyshire

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Once the heart of the industrial revolution, the county of Derbyshire is now home to some 27,900 businesses and a thriving network of small businesses. Growing numbers of which are turning to leasing to finance their business plans and ensure vital lines of credit are kept free.

Derbyshire’s economy is worth around £10.85bn per year and its central location and excellent transport links, makes it one of the most attractive areas for businesses to locate in the UK. The county boasts a rich manufacturing and engineering sector with giants such as Rolls Royce, Bombadier, Toyota (UK), Nestle and JCB. In fact, manufacturing accounts for almost one fifth of all employment, which is nearly twice the national rate.

Paying upfront for equipment can be a significant drain on the working capital for most Derbyshire businesses, especially SMEs and start ups. With bank lending figures still falling, many businesses are turning to alternative sources of funding such as asset finance and leasing.

More importantly, leasing the latest equipment can also help businesses to increase productivity and, as a result, improve profits. Efficiency is key in the manufacturing process. Old, faulty or broken equipment can all lead to slower production times or periods of downtime.

Leasing allows you to obtain the equipment you need quickly, whether you need to replace, upgrade or expand. 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 and efficient equipment to ensure your business stays ahead of the game. You can also source equipment from multiple suppliers and can even include maintenance agreements.

If you need to urgently replace essential equipment, leasing can offer a fast and efficient solution to keep your 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 an operating lease, lease ‘rental’ payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill.

As a well established leasing broker, WestWon Limited has a strong presence in Derbyshire and has successfully arranged leasing agreements for a variety of businesses in the area. With over 255 partners and suppliers across the county, which includes 74 in Derby, 53 in Chesterfield, 19 in Swadlincote and 18 in Alfreton, the company can offer businesses a tailored local leasing deal as well as highly competitive rates. In the education sector, the company has lease funding services suitable for 500 local schools  looking to fund the introduction of tablets into the classroom.

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

 

A Wonderland World Of Connection Furniture At Clerkenwell

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Reflecting on 2 days well spent at Clerkenwell Design Week 2014 visiting over 60 showrooms open to the trade and public, one display that really stood apart was that of Connection.

Not only was the Connection showroom in a beautiful location, it was staffed by extremely well-informed and enthusiastic staff, who guided visitors ‘Down the rabbit hole’ into a mystical story full of life and wonder (and quirky ‘Eat me, Drink me’ delicacies to sample on the way round).

First there were the ‘Queen of Heart Chairs’ – three chairs set out in a podium manner.  The red ‘queen chair’ – to fit the Queen of Hearts theme –  was the centre piece and was also decorated with a golden crown for added dramatic effect.

Round the corner was the ‘Mad Hatters Tea Party’, highlighting Connection’s new range of breakout furniture. With hats hanging from the ceiling, a vintage tea pot and sweets galore, the showroom definitely gave the Mad Hatter a run for his money

Next came the enchanted garden complete with giant multi-coloured spotted mushrooms, and also the place where the Cubbi’ and ‘Why S’ systems were on display. These systems have been created for short period breakout sessions for one or two people only and come with cushions created out of a material which was still comfortable but not as luxurious as the ‘Thynk back high chair’. The systems allow users to sit in comfort but not for an extended period of time, have in-built acoustics and cater for Skype calls.

Emerging from ‘the rabbit hole, visitors could then view the Hive break out systems and the ‘Xpresso one’ casual meeting range, which were also on show.

In terms of experience and imagination, Connection put on a wonderful display that was hard to beat. And the same could certainly be said of their furniture range!

For more information about leasing Connection furniture as seen at Clerkenwell, call the WestWon Office Furniture and Fit Out team on Tel: 01494 611 456 or download our latest Office Furniture Leasing Brochure.

Leasing In Wiltshire Supports Local Economic Growth

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ONS figures for UK GDP published at the end of April 2014 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 the county of Wiltshire and local towns in the area such as Chippenham, Melksham, Salisbuty, Swindon and Trowbridge,  where confidence amongst local businesses is returning.

On the back of recent amendments to the AIA, businesses in Wiltshire are increasing or bringing forward their capital investments in equipment and machinery to drive growth and increase productivity and throughout the local region are increasingly recognising the benefits of leasing to finance these investments. With a strong presence in Wilts, leading leasing company WestWon  has a wide network of almost 200 local leasing finance partners and has successfully arranged lease agreements for many 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 obsolescence – a major issue for IT and computing equipment. Plus, leasing payments offer considerable tax benefits and can even be tailored to match 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.

The company has many years’ experience working with organisations in the private and public sector in Wiltshire, including a large number of the near on 400 schools in the county, 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.

 

Connection Hive ‘Liquid WorkSpace’ Trends At Clerkenwell Design Week

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Clerkenwell Design Week (May 2014) hosted many ground-breaking furniture concepts. One furniture innovation that particularly stuck in our mind was the Hive System from Connection – nicknamed the ‘Liquid Workspace’.

Uniquely this particular piece of furniture is specifically designed to be dismantled and built exactly to each individual customer’s specification. There are various options ranging from staggered backs to circular pods and canopies to finish off an open breakout space. Along with an option to add shelves at the back of the pod

Dovetailing with another prevalent trend seen at Clerkenwell, the Connection Hive system range is also acoustically absorbent. In the showroom, Connection outlined the case study example of how a particular circular, covered meeting space was being successfully used in Education. The students were able to work at fixed desks located behind an enclosed seating area or pod. Those in the pod could be talking loudly and the students would hear nothing and vice versa.  This type of enclosed pod space allow for a high degree of privacy when talking confidentially or wishing to conduct meetings without disturbing others workers in compact open spaces

The Hive is available in a wide range of fabrics and colours and allows compete customisation from the end user. It is also configured for integrated technology components such as power modules, data points and TV and display units.  Laptops can be easily powered and plugged in to display systems for presentations.

As well as its impressive technology features, the Hive offers a number of cleverly designed accessories for every taste and application such as rotating work surfaces, round work surfaces, cantilever work surfaces and upholstered tables.

In short, the Hive offers a truly innovative, standalone workspace solution which is set to be extremely in the coming year on the back of the trend for flexible meeting space and break out area solutions and in-built acoustics.

For more information about leasing the Connection Hive Pod, or other office furniture and fit out solutions, DOWNLOAD a free office furniture leasing brochure now.

View the Connection Hive video

 

Making A Noise About Acoustics at Clerkenwell Design Week

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There is nowhere better to spot the latest trends in the Office Furniture and Fit Out market than Clerkenwell Design Week with its comprehensive collection of the latest designs by leading brands from the UK and around the world.

One main trend that was in evidence in many of the showrooms at Clerkenwell 2014 was a new focus on acoustics. Given the cost of moving offices and the extra overheads associated with larger premises, it is no surprise that many businesses try to maximise the use of space in existing smaller offices for as long as possible. And one way of creating a more effective working environment in compact surroundings is to minimise the echoes and ambient noises that often distract staff as they work.

Acoustics can solve this problem in a very cost efficient way. WestWon itself has recently invested in an acoustic solution that dramatically reduces noise and echoes in our busy sales office. Previously, if there were two or three people in the room on the phone, no one could hear themselves or the people on the other end of the phone speak, So we looked into the latest generation of acoustics and installed them in our office. Walking into our office now you wouldn’t know they were there and for reducing stress levels and increasing productivity, they are absolutely worth their weight in gold.

Many manufacturers are now producing innovative designs that look more like works of art than functional devices to control noise levels.  Acoustics can be hung from the ceiling, mounted like pictures or be used free-standing and suppliers can now use top of the range technology to determine exactly how many panels are required to obtain the ideal result.

The use of the acoustics is also spreading into the soft furnishings arena too. Combining soft furnishings and acoustics gives two great benefits in one purchase. Some of the main manufactures offering the panels of are: Assmann, Frem, Verco and even Herman Miller has released its own range of acoustic panels.

For more information about acoustic suppliers and how to lease soft furnishings and acoustics as part of your office furniture and fit out solution, contact WestWon on Tel: 01494 611456. DOWNLOAD the Office Furniture Leasing Brochure.

Leasing Assmann, Frem, Verco and Herman Miller accoustics

WestWon Leasing And TruckMinder Talk Security Systems At Tip-ex 2014

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WestWon Leasing attended Tip-ex 2014 (May 29th -31st) at the International Conference Centre in Harrogate. Tip-ex is the only UK event dedicated to the tipper and bulk haulage market, and attracts more than 2,000 industry professionals.

Tip-ex has been running since May 2007 and has grown in its success especially in the last three years. In May 2012, the Tip-ex show was bought by Road Transport Media, the publishers of Commercial Motor, Motor Transport and Truck & Driver.

At this year’s show there were almost 80 exhibitors, one of whom was WestWon Lease Finance Partner TruckMinder. The company was at Tip-ex 2014 showcasing its  innovative security alarm systems, which are designed to help protect a wide range of commercial vehicles.

The Truckminder anti-theft deterrent offers an alarm system to prevent Catalytic Converter/DPF, Fuel, ECU and Battery theft. Truckminder has invested extensively in researching and developing the unique technology behind its ground-breaking system, leading to the identification of specific frequencies associated with attempted theft.

Truckminder’s Managing Director Filip de Kock, seen here on the right of the picture at Tip-ex 2014 with WestWon’s Ryan Lewin, was understandably delighted with the Commendation for Innovation that the company received at the Tip-ex Awards 2014. The Tip-ex Awards dinner at the Majestic Hotel was attended by more than 350 people, with Keltbray Plant securing the title of Tipper Haulier of the Year sponsored by MAN Truck & Bus.

For more information about Tip-ex 2014, see https://www.tip-ex.co.uk/

For more information about Truckminder security alarm systems www.truckminder.com/

For more information about leasing security alarm systems or other equipment and plant seen at as seen at Tip-ex 2014 call WestWon on Tel: 01494 611 456. You can also DOWNLOAD a Free Guide To Leasing For Business Growth

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