Almost two thirds of small firms expect to grow in the next 12 months and one in four plan to increase the amount of investment in their business according to the Federation of Small Businesses (FSB). This national picture is also being born out locally in Bedfordshire, where WestWon Limited is helping organisations of all sizes to achieve their growth plans through tax efficient lease agreements.
Bedford has a prosperous business community of nearly 7,000 companies – a mix of innovative start-ups and international companies that have chosen to invest in the region. In Luton, manufacturing remains the largest sector, employing 19.7% of all employees in the borough, while employment in the wholesale and retail trade is increasing with 18% of the Luton workforce employed in this area.
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 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. 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 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 for a single lease agreement.
With over 10 years of experience in serving businesses in the Bedfordshire area, including in Bedford, Dunstable, Leighton Buzzard, Luton and Sandy, WestWon is a leasing company that possesses valuable local knowledge to help companies find the right leasing solution for their particular business and has a comprehensive list of local leasing suppliers and partners. In fact, WestWon has 190 partner manufacturers and suppliers throughout the county, including 50 in Bedford alone, and works with many of the 320 schools in the area too.
WestWon Limited can provide asset finance solutions for a variety of businesses in Bedfordshire. For more information, download the Essential Guide to Leasing for Business.