Leasing Demand Surges As Asset finance Increases By More Than A Third In December 2013

WestWon has seen extremely positive trends in leasing demand over the past few months and this  experience is born out by figures released on 7th February 2014 by the Finance & Leasing Association (FLA) showing that asset finance new business grew by 34% in December 2013 to £2.2 billion, the strongest monthly rate of growth for almost 6 years.

The full year figures for 2013 show that new business for asset finance deals of up to £20 million grew by 4%, making it the fourth consecutive year of growth in the sector. There were positive figures across the market, with growth of 14% in IT equipment finance and 9% in commercial vehicle finance, compared with 2012. Modest growth was also reported in business car finance, plant and machinery finance, and business equipment finance with increases of 1%, 4% and 1% respectively.

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

“The asset finance market reported its highest level of new business for three years in December, suggesting the long-awaited recovery in business investment may well have begun.

“The recovery in the UK economy so far has been driven by the services sector and supported by almost £15 billion of asset finance provided to businesses in that sector last year.”

In 2013 FLA members provided £84.7 billion of new finance to UK businesses and households. £22.4 billion of finance was provided to businesses and the public sector, representing around 29% of all fixed capital investment (excluding real property and own-account software) in the UK last year.

For more information see www.fla.org.uk

To discuss leasing options and get an instant quote for equipment, machinery, furniture and fit outs,, call WestWon on Tel: 01494 611 456 or email boris@westwon.co.uk