Tag Archive for: leasing

Leasing In Bristol, Avon And The West County Supports Business Investment Plans

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The ONS figures for UK GDP published at the end of April show the UK economy growing at 0.8% over quarter one, some 3.1% higher than this time last year. This is being reflected in the local economy in areas such as Bristol, where confidence amongst local businesses is returning.

Businesses in Bristol and across the Avon area are increasing or bringing forward their capital investments in equipment and machinery to drive growth and increase productivity.

From Bristol to Bath and Weston-Super-Mare, businesses across the Avon region are increasingly recognising the benefits of leasing to finance these investments. With a strong presence in Avon, leading leasing company WestWon, for example, has a network of over 250 partners and has successfully arranged lease agreements for over 40 businesses in the county.

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. Plus, leasing payments offer considerable tax benefits and can even be tailored to match a businesses seasonal cash flow.

Working in partnership with businesses, WestWon Limited can arrange a highly competitive lease agreement for a wide range of equipment from IT hardware and software or office furniture to catering equipment as well as essential insurance cover.

Unlike buying, leasing means you can pay as you use. After an initial payment, you can start benefiting from the equipment straight away and spread the cost over its useful life, so you can be paying for the asset with the income it generates.

Some of the most popular types of equipment leased are:

  • IT equipment (e.g. computers, tablets, printers)
  • IT Software
  • Engineering equipment
  • Office furniture
  • Scientific and medical technology
  • Catering equipment
  • Industrial machinery
  • Hairdressing and beauty equipment
  • Sports and leisure equipment
  • Processing and packaging machines
  • Retail equipment
  • Manufacturing equipment (e.g. cutting machines, injection moulding systems)
  • CCTV and security systems
  • Scaffolding and construction equipment
  • Waste and recycling equipment

 

In fact, almost any type of tangible equipment can be considered for leasing. This can even include hardware, software and maintenance agreements. You can also source equipment from multiple suppliers.

With a regional presence based in Bristol and 200 partners and suppliers in the town, WestWon is well placed to provide businesses with a tailored service and client services managers who can visit a client’s premises to discuss their requirements in person. The company has many years’ experience working with organisations in the private and public sector in the Avon region, including almost 500 schools in Bathm Bristol, Clevedon, Radstock and Weston-Super-Mare, helping them source manufacturers and equipment or provide information and quotes on various options.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.

Leasing Helps Businesses in Bedfordshire Prosper

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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.

Berkshire Businesses Lease Their Way To Growth

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As the economy starts to pick up, more and more companies throughout Berkshire are increasingly investing in capital equipment with the help of flexible leasing solutions.

Berkshire itself is second only to Greater London in terms of output with a GVA of £30bn per annum. The region in the affluent Home Counties boasts some of the most innovative technology-driven businesses in global telecoms, software, pharmaceutical and new media sectors. For example, Berkshire is home to the UK headquarters of Fortune 500 companies such as Microsoft, Oracle and Verizon, along with leading businesses like Vodafone, Telefonica and Mars.

One of the centrepieces of the Chancellors budget in March, the increase and extension of the Annual Investment Allowance (AIA) is providing a welcome boost by delivering real tax savings for businesses. With the AIA doubled from £250,000 to £500,000 until the end of 2015, medium-sized businesses in Berkshire and across the UK are increasing or bringing forward their capital investments in plant and machinery to drive growth and stay at ahead of their competitors.

This is where leasing has an important role to play, by providing businesses with the opportunity to pay for these assets as they use them and keep vital lines of credit free. In terms of technology, IT equipment can become out of date in just three to four years. With a lease agreement, equipment can be added or upgraded without having to repurchase, so a business can always have the most cutting-edge hardware and software.

Many businesses find leasing advantageous from a budgeting standpoint as switching from outright purchase to a lease agreement changes how the equipment is accounted for. Leasing enables the equipment needed to be paid for over a fixed period of time, which helps spread the cost. Plus, with an operating lease, rental payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill.

A wide range of equipment, from IT hardware and software to packaging machines and medical technology, can be leased. Other leasing options include general office equipment such as furniture and photocopiers. In fact, almost any type of tangible equipment can be considered for leasing.

Leading asset finance and leasing company, WestWon has been helping businesses of all sizes and sectors in towns in Berkshire such as Bracknell, Maidenhead, Newbury, Reading and Slough to drive their business forward by arranging flexible lease finance agreements to meet their needs. With an extensive network of over 600 leasing finance partners and suppliers throughout the county of Berkshire, including over 200 in Reading alone, the leasing company is able to provide each business with a tailored service and a dedicated account manager who possesses valuable local knowledge.  We also offer specialist leasing and parental donation systems for tablets in the classroom appropriate for digital learning schemes being considered by almost 500 schools in County Berkshire.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.

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Medical Equipment Leasing Helps Hospitals and Surgeries Keep Pace With Technology Change

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Rapid growth is more evident than ever in the global medical device industry. The value of this market is expected to hit $228 billion by 2015 marking annual growth of nearly 7%, according to a recent industry research report. The market covers a wide spectrum of products used in the treatment of patients, including cardiovascular devices, dental equipment, diagnostic devices, medical equipment and supplies, ophthalmic devices, orthopedic devices, respiratory devices and surgical equipment.

New treatments for patients, patient tracking and administration are just a few of the areas reliant on this type of new technology. With all the advances in medical science, it is unsurprising that budgets are being stretched as never before when it comes to ensuring the efficiency of medical practice, laboratory and hospital environments.

Rapid Growth in Scientific and Medical Equipment Leasing

A recent news report in European Hospital has highlighted the fact that annual growth rates for global medical equipment leasing and renting is currently outstripping growth in the medical device market as a whole. In the UK, equipment leasing as a whole has shown strong growth over the past 12 months, providing an obvious solution for medical organisations that prefer to pay for innovative technology over its useful life rather than tying up large suns of capital upfront.

Specialist medical equipment and medical device leasing

There are many reasons why scientific and medical leasing is experiencing rapid growth, and those specialising in leasing for the sector can ensure a smooth process for financing what can be very costly medical equipment along with facility fit outs.

Benefits of medical equipment leasing

Lease payments for scientific equipment can be set against profit, thereby potentially reducing tax bills.

Flexibility and cash flow boost: you can obtain the specialist equipment and technology you need without tying up available cash and lines of credit.

Once you make a set initial payment, you can acquire and start using the asset immediately, while spreading payments over the useful life of the equipment.

Flexible repayments: lease payments for essential assets can be spread over a period of time that suits your organisation. You can also choose a fixed interest rate, which protects against interest rate rises and enables you to plan your budget effectively.

Avoidance of equipment obsolescence and easier upgrades in the future: increasingly vital in technology-driven sectors such as science and medicine.

What medical equipment can I lease?

There is vast scope for leasing medical equipment and devices. Some popular items which are leased include:

  • Anaesthetic Machines
  • Blood Analysers
  • Blood Pressure Monitors
  • Bone Densitometers
  • CT Scanners
  • Defibrillators
  • EKG Machines
  • ECG Machines
  • Echocardiograms
  • Electrosurgical Units
  • Fetal Heart Monitors
  • Incubators
  • MRI Machines
  • MRI Scanners
  • Mammography Machines
  • Ultrasound Machines
  • Ultrasound Probes
  • Medical Gas Equipment
  • Medical Exam Room Equipment
  • Plastic Surgery Equipment
  • Surgical Equipment
  • Urology Equipment
  • Dermatology Equipment
  • Lab Equipment
  • Autoclaves
  • Sterilizers
  • Medical Imaging Machines
  • Medical Accessories
  • Surgical Instruments
  • Electric Hospital Beds
  • Electric Wheelchairs
  • Examination Tables
  • Treatment Tables
  • Surgical Tables
  • Medical Carts
  • Medical Trolleys
  • Hospital Trolleys
  • Medical Lighting
  • Medical Exam Lights
  • Medical Furniture
  • Cardiac Care Equipment
  • Respiratory Ventilator Equipment

For more information about leasing scientific and medical equipment, please call WestWon Tel: 01494 611 456. You can also download the fact sheet Asset Finance For Scientific Leasing

2014 Changes To The Annual Investment Allowance For Capital Equipment Could Benefit Your Business

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In recent times business owners have sometimes tended to put investment in plant and machinery on the back burner because of economic instability.

It is in response to this that the Chancellor announced in the March 2014 Budget that there would be a temporary increase in the AIA limit will from £250,000 to £500,000  per annum with effect from 1 April 2014 for companies and from 6 April 2014 for sole traders/partnerships.

 

Window of opportunity for businesses to acquire capital equipment

The objective behind this initiative is to enable more businesses to undertake capital investment with a significantly reduced level of financial exposure.

However, although no announcement has yet been made, it is expected that the AIA limit will revert to £25,000 per annum with effect from 1 January 2016. It may therefore be important that businesses planning to invest in the near future do so before 2016 whilst the higher temporary increase in the AIA limit is in place.

 

Benefit of AIA  for business

A key advantage of AIA is that it accelerates the timing of tax relief on qualifying capital expenditure. Depending on the timing of the investment, the temporary increase in AIA means that businesses may be able to bring forward the tax relief on more of their capital expenditure. However it is worth businesses considering advancing or deferring investments in order to maximise their AIA over the period it is available.

 

More about AIA

The AIA was first introduced in April 2008, providing 100% allowance on the first £50,000 investment in qualifying capital expenditure. The maximum allowance was doubled to £100,000 for qualifying expenditure incurred from 1 April 2010 (6 April 2010 for unincorporated businesses), and was reduced to £25,000 with effect from 1 April 2012 (06 April 2012 for unincorporated businesses).  In the Chancellor’s 5 December 2012 Autumn Statement the AIA limit was temporarily increased from £25,000 to £250,000 for a two-year period from 1 January 2013 to 31 December 2014, before being temporarily raised to £500,000 in the recent budget.

 

Qualifying expenditure covers most assets purchased for use by businesses

• Office furniture and equipment

• Vans, lorries and equipment

• Building fixtures e.g. shop fittings, kitchen or bathroom fittings

• Business machines e.g. printing press,lathes, tooling machines

• Tractors, combine harvesters and other agricultural machinery

• Gaming machines, amusement rides

• Computer hardware and qualifying software

• Computerised/computer aided machinery including robotic machines

• Wind turbines and fibre optic cabling

• Driving school cars (adapted with dual control mechanisms)

 

The following items of capital expenditure do not qualify.

• Land, buildings or cars

• Expenditure incurred in the accounting period when trade ceased permanently

• Existing plant and machinery

• Plant and machinery that was gifted

• Plant and machinery used by a person for leasing under a long funding lease and

subsequently brought into use by that person for the purpose of a qualifying activity

• Change in the nature/conduct of the trade carried out by a person other than the person incurring the capital expenditure.

 

Download the AIA changes 2014 Fact Sheet

Download the AIA 2104 Changes Fact Sheet for much more information about the AIA opportunity for business and answers to your AIA queries.

Alternatively call us now on Tel: 01494 611 456 to discuss AIA, your capital equipment requirements and leasing options.

 

Why Leasing Can Give Warehousing And Distribution Companies The Competitive Edge

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The warehouse and distribution sector is a highly competitive market, so it is vital to optimise efficiency and keep costs low in order to deliver the best possible service to customers.

As any business grows, its requirements change and keeping up with the latest equipment or software can be an expensive challenge. As a result, leasing offers an excellent alternative to buying. With leasing, warehousing and distribution centre equipment can be added to or upgraded at any time during the lease period, so you will always have the option of having the most up-to-date and efficient equipment to ensure your business stays ahead of the game.

Unlike buying, leasing means you can pay as you use. After an initial payment, you can start benefiting from the equipment straight away and spread the cost over its useful life, so you can be paying for the asset with the income it generates.

Leasing can help improve your cash flow by keeping your working capital free. This leaves you with funds available to reinvest elsewhere in your business and you can take advantage of 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. Other methods of equipment acquisition, such as outright purchase, do not have the same level of tax benefit.

What assets can be leased?

From a single item to an entire turnkey solution, almost any combination of tangible asset can be included in one lease agreement. Types of equipment that can be leased include:

  • Conveyor systems
  • Forklift trucks
  • Pallet lifts
  • Storage solutions
  • Warehouse Management Systems
  • Workbenches
  • Pallets and containers
  • Shelving systems
  • IT hardware and software
  • CCTV and security systems
  • Furniture

WestWon Limited has a wealth of experience in providing asset finance solutions for a wide range of equipment and industry sectors. For more information on leasing, download the free Essential Guide to Leasing for Business. Alternatively, please call us on Tel: 01494 611 456.

 

 

How Start-up Businesses Can Lease As They Grow

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Paying upfront for equipment or an asset can be a significant drain on the working capital for most businesses. In 2014, raising finance for business equipment and assets continues to be a challenging issue for companies, particularly new businesses just starting out.

With highly competitive interest rates and agreements, there is no doubt that leasing can offer an advantageous alternative to buying for start-ups. But how easy is it for a new business to get a lease agreement?

Well, obtaining a lease agreement can be more challenging for new businesses than established companies, but it is by no means impossible. In fact, arranging a lease agreement can be less complicated than applying for a loan. Some leasing companies like WestWon are increasingly working with new start-up companies and can provide specialist advice and guidance.

Generally, a new start-up will be required to submit their personal financial statements, personal tax returns, a business plan and details of equipment they wish to lease. Once submitted, the information is reviewed and a business should be able to obtain a quote and a decision in principle soon after.

There are several types of lease agreement, which allow a new company to acquire the assets they need to run their business without upfront capital outlay. What leasing does is enable the equipment to be paid for over a fixed period of time – typically two to five years through a series of contractual, tax deductible payments.

Leasing is great for new start-ups as it can help improve cash flow by preserving their working capital. This leaves funds available to reinvest elsewhere in the business or to cover unexpected costs that may arise. Many businesses also find leasing advantageous from a budgeting standpoint as switching from outright purchase to a lease agreement changes how the equipment is accounted for.

Leasing offers considerable tax benefits for new businesses too. Lease ‘rental’ payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill. Other methods of equipment acquisition, such as outright purchase, do not have the same level of tax benefit.

For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business or call us on Tel: 01494 611456 for practical tailored advice.

 

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Leasing Cements Its Place In The Construction Sector

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The construction and engineering industries are highly competitive, so it is important to stay ahead of the game. Leasing can help you obtain the equipment your business requires to ensure you can keep pace with the latest technology. Investing in new plant equipment and machinery can be a huge outlay, but leasing offers an advantageous alternative for the construction sector to buying with highly competitive interest rates. Indeed, with banks reducing the amount of overdrafts and loans available to businesses, leasing and asset finance is increasingly being considered as the best and most tax efficient way to acquire new equipment or assets for the sector.

With a lease agreement, the asset you require is yours to use straightaway, but you pay for it in installments over a fixed period of time, which helps you spread the cost over the life of the equipment. You can also upgrade or expand your resources easily, as and when the need arises.

Furthermore, with leasing you have a fixed interest rate. This protects you against interest rate rises and enables you to plan your budget effectively. And as inflation rises, because your payments are fixed, the cost of the equipment reduces in real terms.

A wide range of equipment, from milling machines and welding equipment to portacabins and cement mixers, can be leased. Some of the types of equipment that can be leased include:

  • Welding equipment
  • Vehicles (e.g. cement trucks and tractors)
  • Bulldozers
  • Plant equipment
  • Portacabins
  • CNC machining centres
  • Surveying equipment
  • Cranes
  • Diggers
  • Drills
  • Lathes
  • Generators
  • IT hardware and software
  • CAD software

WestWon Limited has a wealth of experience in providing asset finance solutions for the construction and engineering sectors. For more information, download your free Essential Guide covering Construction and Engineering Equipment Leasing for Business. Or call Tel: 01494 611 456 for more information and an instant quote for the equipment you require.

 

 

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Should SMEs Lease Versus Buy Their Equipment, Furniture and Machinery?

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For companies in 2014 – and particularly for SMES – cash flow remains key to running a viable business. So when it comes to investing in new business assets, for example manufacturing equipment, kitchen and catering equipment,  office furniture and fit outs and refurbishments, IT infrastructure and computer hardware and software, you name it…, there is always a trade-off to be made.

Should you tie up existing capital and lines of credit to grow your business, or do you wait for better times, but risk losing competitive edge and profits? Or do you look at other options such as leasing…

Why Is Leasing Popular With SMES?

Leasing is a popular solution for SMEs looking to acquire fixed assets such as machinery and equipment.

There are several types of lease agreement, which allow companies to acquire the assets they need to run their businesses without upfront capital outlay. What leasing does is enable you to pay for the equipment you need over a fixed period of time – typically two to five years – through a series of contractual, tax deductible payments.

Under a commercial agreement, the leasing company (the lessor) buys and owns the asset. The customer (or lessee) then hires use of the asset, paying rental over a fixed period. At the end of the contract, the customer usually has a choice of extending the lease, buying the asset or simply returning it.

Whether for specialist machinery, recycling equipment, photocopiers or any sector-specific investment, leasing offers the benefit of allowing you to spread the payment cost over the useful life of the asset.

5 Additional Benefits of Leasing v Buying Business Equipment
  1. You can update your equipment more easily in future. Technology changes rapidly and avoiding obsolescence is key to staying ahead. With leasing you can enhance or upgrade your equipment as the need arises.
  2. Lease finance agreements can be tailored to suit your particular business requirements and include whatever combination of business equipment and related services you require under one lease agreement for easier budgeting and administration.
  3. Lease agreements should be transparent so you can see exactly how much interest you are paying. They don’t have to be secured against private property, and agreements cannot be cancelled by the lender unless the company leasing the item falls behind on payments.
  4. Tailored agreements can be over an agreed period, usually 2 to 5 years, and repayments can be made monthly, quarterly or annually by direct debit or invoice, whichever is most convenient. Lease payments can even be tailored to match your seasonal cash flow – a bonus for many small businesses.
  5. Regular, monthly payments can qualify as a trading expense and are therefore tax deductible, making the acquisition of essential assets more cost-effective.

 

Is It Better to Lease Versus Buy New Equipment and Machinery?

Clearly every business should carefully assess their options in this respect and also the types of equipment leases available as well as the best leasing deals around as these can vary.

However in most cases there is a strong argument for making the lease versus purchase comparison before committing funds  either way. You can find out a lot more about the mechanics of leasing by downloading Financing Your Business Plans – the free WestWon guide to leasing.

If you know what equipment you require and how much it costs, you can also get an instant leasing quote online by using the WestWon equipment lease cost calculator. And, of course, you can always call our leasing helpline on Tel: 01494 611 456 and we’ll be happy to answer any queries you may have.

Download Free Guide To Equipment Leasing

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Paying upfront for equipment ties up vital working capital, especially when businesses are expanding. With bank lending figures still falling, it’s not surprising that many businesses are turning to leasing and would benefit from a free guide to leasing.

Asset Finance is now the third most common source of finance for businesses, after bank overdrafts and loans. It is also of growing importance in the public sector. In fact, organisations across every market sector are benefiting from leasing, from new start-up businesses to large established companies.

 

Financing Your Business Plans: The Essential Guide To Leasing

The WestWon Guide to Leasing has been written to help businesses of all sizes in every sector to get up to speed with leasing terminology and to provide a concise overview of the best leasing options.

DOWNLOAD THE GUIDE TO LEASING HERE

This essential guide contains the information that you need to know about the benefits of leasing, the process, the options available, the things to consider and questions to ask when choosing a leasing company.

For more tailored information on your business leasing options, please call WestWon on Tel: 01494 611 456

 

Benefits of Leasing V. Buying Equipment For Your Business

With highly competitive interest rates and agreements, there is no doubt that leasing can offer an advantageous alternative to buying.

Leasing protects your cash flow

Making monthly payments over the duration of a finance agreement allows you to spread the cost of your equipment over its useful life.

Leasing can be tax efficient

Regular, monthly payments can qualify as a  tax deductible trading expense, making the acquisition of essential assets more tax-efficient.

Leasing helps avoid obsolescence

Technology changes rapidly and avoiding obsolescence is a major concern for many. With leasing you can enhance or upgrade your equipment as the need arises.

Leasing can reduce administration

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 can protect bank lines

Our financing solutions have no effect on your other borrowing options, ensuring you can stay financially flexible.

 

 

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