Finance For My Customers Offering finance to your customers is a great way to open more doors and close additional sales. Most suppliers of equipment, office furniture fit out companies, software authors – to name a few – will at some stage be asked for financing from a customer. Rather than say you do not […]
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.
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:
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.
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.
It seems the average UK company moves office every 5-7 years. And the person responsible for the project often has little experience of managing a relocation or, indeed, of finding suitable suppliers.
WestWon has now announced the launch of a comprehensive free advice website – www.DreamOffice.co.uk – that enables businesses to rapidly produce a structured step-by-step project plan for their whole office move.
The Dream Office Perfect Partner scheme also specifically helps office movers across the UK to find ‘perfect’ suppliers for all aspects of their office relocation.
Become A Dream Office Perfect Partner
There are a vast number of business opportunities created by each and every office move …from the design, supply and installation of equipment and furniture to other professional services such as signage, transportation and IT infrastructure. Put simply, businesses on the move need to find quality suppliers to help them achieve their relocation goals.
If you would like to join our Dream Office Perfect Partner programme and be recommended to companies moving offices, please email [email protected] or call us now on Tel: 01494 611 629.
It is completely free to be listed and our Business Development team will be happy to work with you on request to maximise the opportunities that arise.
Read all about the Dream Office Moves website here
Watch the Dream Office Moves video
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.
For more advice on leasing equipment for your business, download your free Essential Guide to Leasing for Business.
As the economy starts to pick up, more and more companies throughout West Yorkshire are increasingly investing in capital equipment with the help of flexible leasing solutions.
Yorkshire and The Humber has been one of the regions of the regions affected by the recession with one of the highest increases in unemployment rates between Q4 2007 and Q4 2012, increasing by 3.5 percentage points from 5.4% to 8.9% according to the Office for National Statistics (ONS). Yorkshire and The Humber was responsible for 6.9% of the UK’s GVA in recent years, amounting to £90.9 billion. Nearly half (46%) of the region’s GVA was generated in West Yorkshire (£41.6 billion).
Manufacturing continues to account for almost 5% more of the regions output versus the average for the UK. Bucking the trend is the vibrant economy seen in around Leeds with Leeds a low proportion of businesses in sectors considered to be vulnerable, such as engineering, construction, metals and chemicals.
One of the centrepieces of the Chancellors budget in March 2014, the increase and extension of the Annual Investment Allowance (AIA), is providing a welcome boost by delivering real tax savings for businesses. With the AIA doubled from £250,000 to £500,000 until the end of 2015, businesses in West Yorks, Leeds, Bradford and other main towns are set to increase or bring forward their capital investments in plant and machinery to drive growth and counter the effects of the recession.
This is where leasing has an important role to play, by providing businesses with the opportunity to pay for these assets as they use them and keep vital lines of credit free. In terms of technology, IT equipment can become out of date in just three to four years. With a lease agreement, equipment can be added or upgraded without having to repurchase, so a business can always have the most cutting-edge hardware and software.
Many businesses in West Yorkshire and the surrounding areas find leasing advantageous from a budgeting standpoint as switching from outright purchase to a lease agreement changes how the equipment is accounted for. Leasing enables the equipment needed to be paid for over a fixed period of time, which helps spread the cost.
A wide range of equipment, from IT hardware and software to packaging machines and medical technology, can be leased. 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.
Leading asset finance and leasing company, WestWon has been helping businesses of all sizes and sectors in towns in the county of West Yorkshire, including Leeds, Bradford, Huddersfield, Wakefield, Kirklees and Weatherby to re-invigorate their businesses by arranging flexible lease finance agreements to meet their needs. With an extensive network of over 500 local leasing finance partners and suppliers throughout West Yorks, including over 125 leasing suppliers in Leeds alone and 50 in Huddersfield and 50 in Bradford, WestWon has recently completed over 50 leasing deals in the area. As a local leasing company, WestWon is able to provide each business with a tailored service and a dedicated account manager who possesses valuable regional knowledge. We also offer specialist leasing and parental donation systems for tablets in the classroom appropriate for digital learning schemes being considered by almost 1,000 schools in the county of West Midlands,
For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.
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 Tyne and Wear and local towns in the area such as Gateshead, Newcastle-upon-Tyne, North Shields, Sunderland, Washington where confidence amongst local businesses is returning.
On the back of recent amendments to the AIA, businesses in the region of Tyne and Wear 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 Tyne and Wear, leading leasing company WestWon has a wide network of 140 local leasing finance partners and has successfully arranged lease agreements for many businesses in the county.
Using a local leasing company 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. It also helps start up businesses such as gyms and catering establishments – coffee shops, restaurants, takeaways – to acquire essential equipment fast, 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. Indeed, WestWon has recently completed many local leasing agreements in the Tyne and Wear area.
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:
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 450 schools in the region, 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.
From Dorchester to Bournemouth, businesses across Dorset are increasingly recognising the benefits of local equipment leasing to finance capital investments in equipment and machinery to drive growth and increase productivity.
Dorset has a prosper business community of over 33,500 businesses and is home to international or UK headquarters of many world leading organisations such as AIM Aviation, Dorset Cereals, Sunseeker International, Lush, Farrow & Ball and Merlin Entertainment. The advanced engineering sector employs around 15,400 people and contributes £800m to Dorset’s economy. While, the Food & Drink industry provides 12,500 jobs and is one of Dorset’s most important industrial sectors, with companies such as Ryvita, Organix baby foods and Dorset Cereals.
Local leasing deals 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. 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.
Local leasing company WestWon Limited has many years’ experience working with organisations in the private and public sector in the county of Dorset, 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 over 220 partners and suppliers in the county, which includes over 60 in Poole, 30 in Bournemouth, 28 in Wimborne and 27 in Dorchester and Christchurch.
For more advice on leasing and how to choose a reputable local leasing partner, download your free Essential Guide to Leasing for Business.
According to new research by the Asset Based Finance Association (ABFA), over the past year small businesses must wait 23 days longer on average for payment compared to larger companies. The figures show that companies with a turnover of less than £1 million have waited an average of 71 days to receive payment, while those with a turnover of more than £500 million were paid in an average of 48 days.
Two in five small firms cite ‘invoice lost or not received’ as the excuse they were given for late payment. And worryingly, one in three is being forced to write off bad debts every year.
This is despite the Government putting pressure on big firms to sign up to the Prompt Payment Code (PPC): in fact, the current wait of 71 days for small businesses is a week longer than in 2006.
The PPC was set up in 2008 to improve small firm’s stability by helping them recover the billions of pounds owed to them in late payments more quickly. It is a voluntary register of almost 1,700 UK companies that have committed to pay invoices in accordance with contracts. But there are no sanctions for breaching the code.
ABFA Chief Executive Jeff Longhurst said, “These figures highlight that the relationship between some big businesses and smaller companies has become even more unbalanced since the credit crunch. It is alarming to see how much longer small and medium sized firms are waiting to receive payment compared with just a few years ago.”
Phil Orford, Chief Executive of the Forum of Private Business said, “Late payment continues to escalate in size and impact on small businesses. With companies facing sizeable cost increases over auto-enrolment of staff into pensions, we need to make sure cash flow is as good as possible.
WestWon CEO Jeremy Hall commented, “On-going issues with late payments and the knock on effect on cash flow is putting some small businesses in financial difficulties and it certainly makes it more difficult to make the investments they need in the recovery economy.
“At the same time we have seen a growth in the number of small businesses seeing equipment leasing as a vital financial tool in their kitbag. Asset-based finance enables them to spread the cost of essential capital investments over time, rather than having to tie up large sums of capital upfront – and given the current climate, they may well need the flexibility to deploy available funds elsewhere.”
Research from bank transfer service BACs revealed in July 14 that late payment debt is now £40 billion, up from £30 billion last summer. The forthcoming Small Business enterprise and Employment Bill will legislate for greater transparency of payment practices, with large companies required to publish their practices and how they perform against them. But whether this will be sufficient to tackle what is a huge issue for the recovery and small business investment remains to be seen.
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