Tag Archive for: FLA

Equipment Leasing Boom – New Business up by 53%

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Recently released figures the Finance & Leasing Association (FLA) show 31% growth in asset finance new business during September 2014. New business has now reached over £2.5 billion, the highest monthly figure in almost six years. FLA members financed almost 27% of UK investment in machinery, equipment and purchased software in the UK last year.

Leading the charge is business equipment finance, reporting its strongest growth so far this year, with new business up 53% in September compared with the same month in the previous year. Plant and machinery finance, commercial vehicle finance and IT equipment finance were up by 22%, 16% and 15% respectively.

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

“September saw robust growth across all the key asset finance sectors. New business in the third quarter of this year increased by 21%, three times the rate of growth recorded in the second quarter. These figures clearly show that the asset finance industry, through the provision of leasing and hire purchase, is helping UK businesses to invest and grow.”

The Federation of Small Businesses (FSB) has previously 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. As a leading UK leasing company and FLA member, WestWon is helping organisations of all sizes to achieve their growth plans through the best equipment lease deals for their needs:

 

Key Reasons Why Equipment Leasing Is Growing:
  • Leasing Improves Cash Flow – By making monthly payments over the duration of a lease finance agreement, you can spread the cost over the useful life of your equipment, rather than having to find the capital up front.
  • Leasing Tax Advantages – Regular monthly payments can qualify as a tax deductible trading expense making the acquisition of essential assets more cost-effective.
  • Easier to Upgrade Business Equipment – Technology changes rapidly and avoiding obsolescence is key to staying ahead. With leasing you can enhance or upgrade your equipment as the need arises.
  • Leasing Increases Available Budget – Instead of spending lump sums on rapidly depreciating assets, you can allocate resources to where they’re needed most – giving you the freedom to invest in other areas of your business.
  • Business Equipment Leasing is Flexible – Lease finance agreements can be tailored to suit your particular business requirements and include whatever combination of business equipment and related services you require.
  • Leasing Protects Existing Lines of Credit – Our financing solutions have no effect on your other borrowing options, ensuring you can stay financially flexible.

 

For more information about business equipment leasing options download the Free Guide To Equipment Leasing or contact WestWon on Tel: 01494 611 456

Asset Finance And Leasing Grows As The UK Economy Exceeds 2008 Peak

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A recent report by the National Institute of Economic and Social Research (NIESR) has indicated that the economy will grow by 2.9 percent in 2014 and 2.4 percent in 2015 and on current plans the public sector finances will be in surplus by 2019.

Gross Domestic Product (GDP) reached 0.9 percent between March – May 2014 , which means that output was 0.2 percent higher at the end of last month than it was when the recession hit in 2008, when output fell by 7.2 percent in a year.

Experts at NIERS have hailed this – 6 years on – as a ‘symbolic milestone’ for the UK. This means that GDP will exceed its previous peak in 2008 in the next few months, although per capita GDP still remains well below its previous peak, and will not exceed it before 2017.

The Bank of England is now also predicting growth of 3.4 percent this year and the Office of National Statistics (ONS) also reported that British manufacturing is growing at its fastest rate for 4 years.

At the same time, concerns about productivity levels persist and the UK’s trade performance remains disappointing, with the current account deficit running at about 4 per cent of GDP, on average, over the period 2012–14, although improving subsequently as the global economy continues to strengthen.

The Finance & Leasing Association (FLA) has also reported that asset finance new business grew by 17% in March compared with the same month last year and was 13% higher in the first quarter of 2014 than in Q1 2013.

Lease finance for plant and machinery and business equipment saw the strongest growth in Q1 2014, up by 21% and 20% respectively, while IT equipment finance was 11% higher than in Q1 2013.

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

“In Q1 2014, the asset finance industry returned its best first quarter performance for five years, and the pattern of growth suggests a broad-based recovery in business investment.

For more information about nationwide and local leasing deals for business equipment call WestWon on Tel: 01494 611 456. Download The Free Guide to Leasing

New Asset Finance Business Grows By 9% To Almost £1.7 Billion In January 2014

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UK Finance & Leasing Association members report that new asset finance business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year.

Geraldine Kilkelly, head of research and chief economist at the FLA said that key asset sectors reported double digit growth – with commercial vehicle finance, business equipment finance and plant and machinery finance up by 25%, 21% and 13% respectively.

IT equipment finance reported modest new business growth of 3% compared with the same month in 2013.

Kilkelly added: “The positive start to 2014 follows exceptionally strong growth of more than a third in December 2013 and reflects growing confidence in the sector.

“The FLA’s Asset Finance Confidence Survey for Q1 2014 showed respondents expect asset finance new business to grow by up to 10% over the next 12 months.”

 

Jan 2014

% change on

Jan 13

3 mths to

Jan 14

% change on

prev yr

12 mths to

Jan 14

% change on

prev yr

Total FLA asset finance (£m)

1,694

+9

5,705

+14

22,535

+4

Total leasing and hire purchase excluding high value (£m)

1,672

+7

5,603

+13

21,843

+4

Data Extracts:
Plant and machinery finance (£m)

343

 +13

 1,069

+9

4,513

+5

Commercial vehicle finance (£m)

420

+25

1,504

+38

5,285

+11

IT equipment finance (£m)

68

+3

412

+13

1,544

+14

Business equipment finance (£m)

159

+21

493

+12

1,961

+3

Car finance (£m)

505

-8

1,599

+1

6,707

-1

Aircraft, ships and rolling stock finance (£m)

6

-62

115

+42

297

-40

 

For more information visit the fla.org.uk

For more information about leasing equipment, machinery, IT resources or office furniture and fit out leasing please call WestWon on Tel: 01494 611 456.

 

Construction Sector Leasing Grows In Popularity

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Figures released at the end of 2013 by the Finance & Leasing Association (FLA) show that new business provided to fund investment in construction equipment grew in October by 41% (to £134 million), and by 13% over the last twelve months (to £1.2 billion).

It was also a good month for the commercial vehicle and IT equipment finance sectors, with double digit growth in new business of 13% and 12% respectively.

Overall, the asset finance market reported growth of 4% to £1.9 billion in October for new business deals of up to £20 million. This market has grown each month since April 2013, with new business up in the first ten months of the year by 2% to almost £17.7 billion compared with the same period in 2012.

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

“The asset finance industry is in a unique position to support businesses as the recovery takes hold.  It funds investment in the key equipment that businesses need if they are to expand to meet stronger domestic demand.

“The FLA’s Q4 2013 Asset Finance Confidence Survey suggests that the industry’s senior executives are cautiously optimistic about economic prospects and market conditions over the next year, with a majority expecting growth of  up to 10% in each of the main channels for new business.”

 

Oct 2013

% change on Oct 2012

3 months to Oct 2013

% change on prev. year

12 months to Oct 2013

% change on prev. year

Total FLA asset finance (£m)

2,137

+11

5,687

+3

21,667

-2

Total leasing and hire purchase excluding high value (£m)

1,926

+4

5,372

+3

21,053

0

Data Extracts:
Plant and machinery finance (£m)Of which: Construction equipment finance (£m)

398

134

+14

+41

1,158

365

+10

+48%

4,416

1,209

+3

+13

Commercial vehicle finance (£m)

474

+13

1,309

+10

4,795

+2

IT equipment finance (£m)

112

+12

338

+11

1,495

+9

Business equipment finance (£m)

150

-3

439

-4

1,860

-7

Car finance (£m)

627

-4

1,618

-2

6,676

+1

Aircraft, ships and rolling stock finance (£m)

3

-96

35

-83

264

-50

 

  1. bers provided £80.2 billion of new finance to UK businesses and households.  £21.5 billion of finance was provided to businesses and the public sector, representing around 28% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
  2. The FLA quarterly asset finance confidence survey aims to gauge senior executives’ opinions about the outlook for the UK economy and the asset finance industry. All FLA asset finance senior executives were invited to take part in the survey. The Q4 2013 results are based on responses from 30 member companies, who accounted for 76% of annual new business.

For more information see the FLA website. You can also download the WestWon Guide To Equipment Leasing here.

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

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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 [email protected]

 

UK Asset Finance Market Reports Growth Of 4% To £1.9bn In October 2013

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UK Finance & Leasing Association (FLA) members report that new business provided to fund investment in construction equipment grew this October by 41% (to £134m), and by 13% over the last twelve months (to £1.2bn).

They report that it was also a good month for the commercial vehicle and IT equipment finance sectors, with double digit growth in new business of 13% and 12% respectively.

Overall, the UK asset finance market reported growth of 4% to £1.9bn in October for new business deals of up to £20m. This market has grown each month since April 2013, with new business up in the first 10 months of the year by 2% to almost £17.7bn compared with the same period in 2012.

Geraldine Kilkelly, head of research and chief economist at the FLA said: “The asset finance industry is in a unique position to support businesses as the recovery takes hold.  It funds investment in the key equipment that businesses need if they are to expand to meet stronger domestic demand.

“The FLA’s Q4 2013 Asset Finance Confidence Survey suggests that the industry’s senior executives are cautiously optimistic about economic prospects and market conditions over the next year, with a majority expecting growth of  up to 10% in each of the main channels for new business.”

See the full article here.

For more information about the benefits of leasing and best leasing deals available,  please call WestWon on Tel: 01494 611 456. Alternatively you can download the free WestWon Guide To Leasing.

Top Tips For Office Furniture and Fit Out Leasing Options

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Furniture Leasing from WestWon

WestWon has a long-standing heritage in the furniture, office equipment and fit out leasing marketplace and continues to invest heavily in the sector. We focus, in particular, on innovative technology, excellent service, highly competitive rates and tailored lease agreements.

Furniture Leasing and Fit Out Leases are Flexible and Cost-efficient

The workplace environment has a major impact on employee productivity and morale as well as company image. Leasing allows customers to acquire the type of furniture they need, when they need it, without upfront capital outlay. Companies simply choose the items they require now and pay for it through regular tax deductible payments over the useful lifecycle of the investment – normally 2 to 5 years.

Furniture Leasing is Fast

The process of securing a lease agreement is also far quicker and easier than that of obtaining a loan or overdraft extension from a bank to fund furniture purchases. With leasing not only do customers retain all their existing lines of credit, it also makes also makes it easier for them to expand and refresh their requirements and company image in the future.

Choose a Well-established and Reputable Leasing Company

Founded in 2006, WestWon is a member of the National Association of Commercial Finance Brokers (NACFB) and an Associate Member of the Finance and Leasing Association (FLA). WestWon adheres to industry best practice and we pride ourselves on providing an excellent level of service and complete transparency on all agreements.

WestWon Office Furniture Leasing Customer Testimonial

Seco Tools is an example of a WestWon lease finance customer who undertook a complete facility refit  including furniture.

“Working with WestWon was easy, very easy.  I used Furniture 23 for the furniture package. They put me in contact with WestWon and from there it was just ticking boxes and logical steps – and very easy.  The leasing was the easy part of my job!”  Paul Hipkin, Project Manager, Seco Tools.

More about Office Furniture Leasing

Leasing Business Equipment Solves Cash Flow Issues

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In 2013 raising finance for new business equipment and assets has continued to be a thorny issue for companies, particularly SMEs and start ups. Bank lending figures are still falling and many businesses are turning to alternative sources of funding such as asset finance and leasing.

You can lease almost any type of business equipment from tablets to boardroom tables and IT services to complete office refits. WestWon is an independent asset finance and leasing broker (and a member of the Finance and Leasing Association and National Association of Commercial Finance Brokers) which means you can choose any combination of equipment, technology and maintenance you require for your lease agreement. Sectors that regularly lease equipment include:

  • IT equipment leasing
  • Office Furniture and Refit Lease FInance
  • Engineering Equipment Lease Finance
  • Scientific & Medical Equipment Lease Finance
  • Processing and Packaging Equipment Lease Finance
  • Waste & Recycling Equipment Lease Finance
  • Catering Equipment Lease Finance
  • Leisure Equipment Lease Finance

What else companies lease? See the  WestWon Leasing Video for more ideas. Or call us today on Tel: 01494 611 456.

You can also visit our website to use our Free Instant Lease Calculator to show you how the cost of leasing an asset compares with purchasing your new equipment.

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