Asset-based finance is an ever more attractive way for SMEs to acquire the machinery and equipment they need to run their businesses and invest in up-to-date IT technology to keep their infrastructure working efficiently. Leasing is also available to cover the cost of office refits, fit outs and refurbishments, which form an essential part of most companies’ business plans.
Leasing allows companies to:
- Preserve their cash reserves and existing lines of credit
- Align costs with income over time rather than making a large upfront payment
- Avoid technology obsolescence and the problem of disposing of old equipment.
These leasing benefits are particularly important for SMEs and Start Up businesses too as they enables them to manage the acquisition of equipment and related services as a predictable monthly or quarterly expense rather than a capital cost, offering clear advantages in terms and tax and budgeting. After all, no business pays three years’ salary for its staff in advance, so why pay for the equipment they use upfront rather than over its useful life.
Whether for new business start-up or an established SME trying to stay competitive, leasing can generally be arranged in a relatively short timescale subject to status, allowing businesses to acquire the equipment they need when they need it.
SMEs looking at their finance options can obtain an instant leasing quote online using the WestWon lease calculator to help with budget planning. You can also email us with any queries at boris@westwon.co.uk or call on Tel: 01494 611 456. We are here to help you grow your business.
WestWon also provides a series of Leasing Fact Sheets for businesses wishing to find out more about leasing for their particular sector – for example, public sector leasing, catering industry leasing and medical and scientific industry leasing as well as general topics such as ‘Leasing Questions Answered’. You can also download the free guide to leasing – Financing Your Business Plans.