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:
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.
The ONS figures for UK GDP published recently 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 South Hampshire and the Isle of Wight, where confidence amongst local businesses is returning.
Since 2008, the region has witnessed strong private sector jobs growth driven by the development of more knowledge based industries and advanced manufacturing. Other thriving sectors include marine, aerospace and logistics. Tourism is also a vital feature of the area with events such as Cowes Week.
Cash flow, however, remains a concern among the local business community. This is where leasing is offering companies, particularly SMEs, a flexible and tax efficient solution. With highly competitive interest rates and agreements, there is no doubt that leasing is an advantageous alternative to buying new equipment and assets. What is more, almost any type of equipment can be considered for leasing, from IT equipment and office furniture to manufacturing equipment and medical technology.
Leasing enables the cost of equipment to be spread over a fixed period of time – typically two to five years through a series of contractual, tax deductible payments. This leaves funds available to reinvest elsewhere in the business or to cover unexpected costs that may arise. In addition, leasing offers the flexibility to acquire the latest equipment a business requires straight away or quickly respond to an opportunity in the market. Businesses can upgrade or expand their resources easily, as and when the need arises.
Some of the most popular types of equipment leased in the region are:
WestWon Limited has experience of working with organisations in the private and public sector in the Isle of Wight, helping them source manufacturers and equipment as well as arranging flexible lease agreements. The company is well placed to provide businesses with a tailored local service with 12 partners and suppliers in the area, which includes 5 in Newport, 4 in Ryde and others in Sandown and Ventnor.
For more advice on leasing, download your free Essential Guide to Leasing for Business.
Paying upfront for equipment or an asset can be a significant drain on the working capital for most businesses. Leasing is fast becoming one of the most popular ways to finance equipment across the UK and this is particularly evident in Leicestershire, where leading leasing company WestWon has arranged lease agreements for a variety of businesses.
Leicestershire’s estimated £19bn economy is the largest in the East Midlands. A large proportion of the county’s businesses are small to medium sized enterprises and it is these firms which often have the most need to free up cashflow and access finance. This is where leasing is playing a vital role.
Leasing provides these and many other businesses with an alternative new credit line separate from banks, which enables banking and overdraft lines 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, leasing means companies can pay as they use. After an initial payment, you can start using 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. Plus, you have the ability to simply upgrade or expand equipment as and when the need arises, so you can always have the latest technology.
The lease itself can be tailored to suit the business. 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. You can also source equipment from multiple suppliers.
Some of the most popular types of equipment leased in Leicestershire are:
With years of experience in serving businesses in the Leicestershire area, from Leicester to Wigston, WestWon possesses valuable local knowledge to help companies find the right leasing solution for their particular business and has a comprehensive list of local suppliers. In fact, WestWon has over 270 partner manufacturers and suppliers throughout the county, including 127 in Leicester, 34 in Loughborough, 17 in Market Harborough and 17 in Caolville.
WestWon Limited can provide asset finance solutions for a variety of businesses in Leicestershire. For more information, download the Essential Guide to Leasing for Business.
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