Home to some of the biggest names in Hollywood with Warner Bros. Studies and Elstree Studios, Hertfordshire boasts an A list cast of world class businesses such as GlaxoSmithKline, Tesco Plc and EE as well as a host of fresh new start-ups. In fact, the county has around 55,000 active private sector businesses. Many of whom are discovering the benefits of leasing to finance capital investments in equipment and technology.
With a strong presence in Hertfordshire, leading local equipment leasing company WestWon, for example, has recently successfully arranged lease agreements for over 60 businesses in a variety of sectors in the county. With over 675 partners and suppliers across the county, which includes 73 in Watford, 71 in St Albans, 40 in Stevenage, 49 in Hemel Hempstead and 19 in Barnet, the company can offer businesses a tailored local service as well as highly competitive rates.
Leasing is one of the fastest growing and most popular ways to finance equipment and technology amongst companies of all sizes and industries in Hertfordshire, from laboratories and manufacturers to restaurants and start-up enterprises.
Unlike buying, leasing means companies can pay as they use. After an initial payment, the equipment can be used straight away and the cost spread over its useful life, so the asset can be paid for with the income it generates.
Local 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 obsolesce – a major issue for IT and computing equipment.
A leasing scheme can offer considerable tax benefits too. With an operating lease, lease ‘rental’ payments are an allowable business expense that can be set against profit – thereby potentially reducing tax bills. Plus, lease payments can be tailored to match a company’s seasonal cash flow and a combination of equipment from different suppliers can be covered under a single lease agreement.
For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.
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