How asset finance is helping UK businesses fund their office refurbishments

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The importance of providing a workspace that promotes productivity, creativity, and efficiency is essential to any business. With the changes brought by COVID-19, many UK businesses are currently looking to revamp their office spaces to accommodate their new normal. However, refurbishing your office spaces can be costly and could derail your business if not well-planned. Fortunately, asset finance is helping UK businesses fund their office refurbishments. See why below.

How Asset Finance Can Help Fund Your Office Refurbishment

Using asset finance to fund your office refurbishment project can help you save money and time. Unlike traditional bank loans, asset finance does not require extensive paperwork or a long application process. It is a hassle-free way to acquire capital quickly, enabling you to make necessary renovations to your office space rapidly. Additionally, asset finance allows you to spread the cost of your refurbishment project over a fixed period, so you won’t have to worry about upfront, large lump sum payments.

Benefits of Asset Finance for Your Business

Asset finance is an excellent option for UK businesses that want to acquire assets for their businesses without having to incur large upfront costs. Furthermore, asset finance provides tax benefits and can help your business improve its cash flow management. It can also help your business avoid the risks associated with outdated technology by providing easy access to the latest equipment and software.

Who Can Benefit from Asset Finance?

Many businesses in the UK can benefit from asset finance, including startups, SMEs, large corporations, and public sector organisations. The assets that can be financed under this option include machinery, equipment, vehicles, and technology services. For more information on these finance options please contact a member of our team to find out more.

Office refurbishments can help your business create a more engaging and comfortable workspace for your employees, enhancing productivity and creativity. Funding such projects through asset finance can provide your business with flexibility, tax benefits, and cost management. Whether you are a startup, SME, large corporation or a public sector organisation, asset finance could be an excellent way to fund your office refurbishment project. Therefore, please don’t hesitate to reach out and speak to one of our sales team today to see how asset finance is helping UK businesses fund their office refurbishments.

Advantages of Leasing Office Equipment

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Advantages of Leasing Office Equipment Whether you are a brand-new business and cash is low or an established business looking to not tie up all your cash in office equipment, you are in the correct place. When it comes to leasing, some may question it and not really understand the advantages of leasing office equipment. […]

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Lease Office Furniture UK – Current Office Furniture Trends

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Lease Office Furniture UK – Current Office Furniture Trends Many companies are keen to introduce quirky and trendy furnishing to their office space. It is very important that as a business owner your office space is warm, friendly and inviting for all your employees. Unfortunately, keeping up to date with the current trends can be […]

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Office furniture and equipment for lease

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Office furniture and equipment for lease Here at WestWon we can provide a lease option for your office furniture and equipment. The key question to ask yourself when looking to invest in office furniture and equipment is – why tie up all your cash? Lease your office furniture and equipment and release cash back into […]

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Lease or Buy Your New Office Furniture and Fit Out?

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Leasing office furniture and equipment is a great option for many companies depending on their office equipment and furniture needs, financial situation and line of business.

Often companies do not have or do not wish to tie up capital available to buy office furniture and equipment outright; or to finance a fit out or relocation.  Understandably companies are generally also not keen to tie up crucial bank credit lines for this type of project. Leasing allows them to spread the cost over two, three, four or five years, acquiring the solution that meets their long-term needs rather than that which their current budget and cash flow dictates. It also allows businesses to carry out refurbishments straight away. Lease payments are fixed for the term of the lease – normally 2-5 years – making it easy to budget for a monthly, quarterly or even annual payment and budget accordingly.

However, leasing office equipment and furniture ties businesses into an on-going agreement so it is therefore very important to think carefully about what the office furniture and equipment needs and also about the way the business is likely to develop in the future. Key factors to consider are how often a company relocates, how important is it to keep up with technology changes and is it important to use capital budget for R&D marketing or staff rather than office refits and refurbishments? In these cases, leasing may well be the ideal way to keep the workplace current and to ensure that upgrades can be organised with minimum hassle in the future.

Nowadays, the right workspace – including acoustics, lighting, flooring, decoration and furnishings – play an important role in attracting and retaining the right kind of staff. After all, creating an ergonomic space with appropriate tools for a person to do their job well benefits employers through increased productivity and reduced absenteeism. But innovative, creative spaces normally require new equipment and furniture. With leasing companies can create the exactly right image and environment, deciding exactly what furniture and equipment they want (including a custom build) and have it financed under a lease agreement.

When deciding whether to lease or buy, companies should review their cash reserves, cash flow and credit lines, and ensure they understand the terms and conditions of the lease, for example, what happens at the end of the lease; are upgrades included; required insurance on the equipment as well as early cancellation fees. Understanding exactly what the business needs are and what the purpose of the office equipment, furniture or refit is will help companies to make the right decision.

Download the Office Furniture and Fit Out Brochure for more information about leasing your dream office.

See here for a free Office Move Project Planning Tool

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.

 

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

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

The 10 Most Popular Items Of Equipment To Lease

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With an ever growing pressure on cash flow and bank lending figures still falling, equipment leasing is becoming an increasingly important way for businesses of all sizes in a variety of industries to finance the new technology and equipment they require.

With highly competitive interest rates and flexible agreements, there is no doubt that leasing can offer an advantageous alternative to buying as many companies have discovered.

A wide range of equipment, from computers and iPads to furniture and recycling equipment, can and is being leased by businesses across the UK. In fact, almost any type of tangible equipment can be considered for leasing along with maintenance agreements and software.

Popular types of equipment for leasing

  1. PCs and laptops: Over 90% of the top 100 companies now lease computer equipment. With technology moving at such a speed, leasing enables businesses to upgrade computer equipment as and when required to ensure they have the latest systems.
  2. Tablets (e.g. iPad, Microsoft Surface): A growing number of schools and other educational establishments, in particular, are opting to lease tablets to aid teaching and learning in the classroom.
  3. Photocopiers and printers: Leasing photocopiers is popular among businesses of all sizes in all sectors as it means they can pay for the equipment as they use it and can upgrade to a new model when required without having to repurchase.
  4. Office furniture: From seating to workstations, all types of office furniture can be leased as well as entire office refurbishments, including lighting, flooring, interior finishes and even interior design services.
  5. Catering equipment: From commercial ovens and freezers to coffee machines and chillers, all sorts of appliances are being leased by restaurants, caterers, cafes and food manufacturers as it enables them to quickly replace obsolete equipment and pay for the asset as they use it over time.
  6. Leisure and Beauty equipment: from up-to-date gym equipment to salon fit outs.
  7. Minibuses and vehicles: From tractors to minibuses, all types of vehicles are leased every year by private and public sector organisations.
  8. CCTV and security systems:
  9. Processing and packaging machines: From food manufacturers to pharmaceutical companies, a wide range of companies are choosing to lease systems such as labelling machines, conveyors and metal detectors.
  10. Medical technology: From a dentist’s chair or hospital bed to an entire operating theatre, a wide range of specialist medical equipment can be leased.

 

For more advice on leasing equipment for your business, 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.

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