Tag Archive for: leasing

10 Things Companies Should Know About Leasing Waste Equipment and Recycling Machinery

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Efficient waste management and recycling practices are under the spotlight as never before – both for economic and ‘green’ reasons. Many businesses need new waste equipment – such as balers, recycling machinery, compactors and shredders – but are reluctant to tie up existing capital or lines of credit. That’s why leasing is often a better option than buying. After all, asset finance now helps to fund 27% of all fixed-capital investment in the UK.

Leasing Facts and Options For Waste Equipment and Recycling Machinery

The market for waste compaction equipment has grown significantly over the last ten years and WestWon is extremely active in waste compactor and baler leasing, paper shredder and compactor finance. Here are 10 interesting facts about leasing waste equipment.

  1. Over 50% of companies who buy a waste baler/compactor will rent or lease it
  2. When financed, most balers and compactors agreements are over five years
  3. Suppliers often focus on a weekly cost of ownership
  4. The supplier will normally offer a maintenance agreement with the equipment
  5. There are few cases of customers whom have been mis-sold equipment. We have seen cases of suppliers “up selling,” i.e. selling a machine that is too powerful for the use it is intended
  6. Some suppliers will install equipment for no charge and then remove and sell the waste for a profit
  7. The market is fragmented, with highly professional and successful suppliers at one end of the spectrum and small skip hire/waste disposal companies at the other
  8. There are big differences in the quality of waste equipment. I.e. the thickness of the metal, reliability of the parts etc. We advise all customers to take good care when choosing equipment, and a supplier
  9. Most end user customers who lease or buy a compactor or baler, will ultimately save money via reducing their cost of waste disposal
  10. Waste equipment can range from £1,000 in value to many millions

For more essential information about asset-based finance for waste equipment, download the WestWon Guide to Leasing or call us on Tel: 01494 611 456

Could Equipment Leasing Cater For Your Business Needs?

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Appliance and equipment leasing is providing sustenance for thousands of businesses in the hospitality and catering industry. From small start-up coffee shops to well-established restaurants and food manufacturers, more and more companies are discovering the ease and flexibility of leasing catering equipment.

If you need to urgently replace essential catering equipment such as an oven or fryer, leasing can offer a fast and efficient solution to keep your business going and avoid any loss of revenue. Arranging a lease is usually very straightforward. Once you have found the equipment you wish to lease, you will be able to obtain an instant quote and a decision in principle soon after.

Pay as you use with equipment leasing

Unlike buying, leasing means you can pay as you use. After an initial payment, you can start using 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. Plus, you have the ability to simply upgrade or expand equipment as and when the need arises, so you can always have the latest oven or coffee machine.

The lease itself can be tailored to suit your business. Agreements can be over an agreed period, for example two 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. You can also source equipment from multiple suppliers and can even include maintenance agreements.

Leasing provides businesses with an alternative new credit line separate from banks, which enables banking and overdraft lines to be kept free for any future cash flow issues or unexpected problems. And lease payments can be set against profit, thereby potentially reducing tax bills.

What can my catering business lease?

From a single item to an entire restaurant and kitchen fit out can be included in one lease agreement. Types of equipment that can be leased include:

  • Cooking equipment (e.g. commercial ovens, grills and microwaves)
  • Refrigeration units
  • Coffee machines
  • Food preparation equipment
  • Cold rooms
  • EPOS and cash registers
  • Food display equipment
  • Dishwashers
  • Laundry equipment
  • Vending machines
  • Furniture and counters

For more information on leasing catering equipment, download the WestWon Fact sheet for the Catering Industry.

Why Do Equipment Leasing Companies Ask Business Owners For A Personal Guarantee?

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Congratulations! You have just been offer a leasing deal, but the sting in the tail is that you have to provide a personal guarantee, often referred to as a “PG”

Some company owners just point blank refuse to sign a PG for a whole variety of reasons.  For example, in America, business leaders, company owners and entrepreneurs believe that it is generally acknowledged that they are taking a risk when running a business hence it is the job of a bank or leasing company to take a risk too.

Understanding leasing companies

However, a leasing company is actually paying you a compliment if they ask for a personal guarantee. They are saying they want to lend to you and, in effect,  just seeking a little bit more comfort.  We often see banks asking for personal guarantees from lifestyle companies where individuals take a lot of money in salary and dividends.

One of the key reasons for asking for a personal guarantee is that if a business owner defaults on the lease, he or she will be more motivated to work with the bank to sell the equipment and get the best price for it. The user of the equipment is often the best person to be involved in selling the equipment in question. With no guarantee, an owner could in theory just walk away leaving the bank more often than not with a loss.

Legal aspects of leasing and personal guarantees

Legally, a leasing company could take the equipment back and then under the personal guarantee ask for the difference in the settlement figure and the price they got for the equipment. In practice, if you work with the leasing company and even take out the lease rental in your own name, the leasing company will work with you.  WestWon has many years’ experience in the industry and in our opinion leasing companies generally just want to get their money back: they do not want the hassle of enforcing a guarantee. If you speak to the leasing company and help them, they will be sympathetic.

Lastly, banks ask for a personal guarantee as proof that the business owner really believes in the business. Their thought process is simple, if you know the business and have faith in it, what is the problem of offering a PG as the company will be able to make the repayments anyway.

Even The Office Kitchen Sink Can Be Leased For Business

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What can you lease for business? Did you know that organisations both large and small – well-established and even new start SMEs too – can lease almost any type of business equipment, hardware, software, office furniture and fit outs, not to mention moving premises and machinery? In fact, if you can name it, you can probably find a food lease option for it too … yes, including the staff room kitchen sink! You simply chose the equipment you need to grow your business and the leasing company – like WestWon leasing –  provides the asset funding.

5 Key benefits of leasing for business
  1. Lease payments can be set against profit, thereby potentially reducing tax bills.
  2. Flexibility and cash flow boost: you can obtain the business equipment and technology you need without tying up available cash and lines of credit.
  3. Your business can also get an instant Return on Investment as 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.
  4. Flexible repayments: lease payments can be tailored to match seasonal cash flow. You can also choose a fixed interest rate, which protects against interest rate rises and enables you to plan your budget effectively.
  5. Avoidance of equipment obsolescence and easier upgrades in the future: increasingly vital as more and more businesses are becoming technology-driven.
Which Business Sectors Use Lease Finance?

Most if not all business sectors use asset-based finance as part of their financial planning. We regularly arrange lease finance agreements for organisations requiring:

 

WestWon is a leading UK leasing company completely independent of any supplier or manufacturer, you can choose any combination of equipment and technology you require for your lease agreement. WestWon is also happy to help recommend suppliers if you don’t have one in mind.

For more information about how leasing versus buying can work hard for your business, contact WestWon on Tel: 01494 611 456.

 

New Year, New Office Furniture And Fit Out?

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Whether refurbishing your existing office premises or launching a new start-up, companies today are rightly turning to lease finance to fund their new and improved working environments. And furniture is a key element in any office fit out project plan.

Furniture can be stylish to reflect your brand image and it certainly must be practical and withstand wear and tear. Whatever you brand and range you choose, leasing office furniture and office equipment as part of your office fit out project makes perfect sense as it allows you to spread the cost over the useful life of these items.

When it comes to selecting office furniture as part of your office fit out, there are few limits on what can be included in a lease agreement: Typical items of furniture that companies lease include:

  • Office desks
  • Office chairs
  • Office pedestals
  • Office boardroom tables
  • Office boardroom chairs
  • Meeting room tables and chairs
  • Office reception desks
  • Office receptions tables, chairs and sofas
  • Office AV systems
  • Appliances for office canteens and kitchens
  • Office canteen tables and desks
  • Office staff room furniture
  • Office gym equipment

Furniture leasing is flexible and cost-efficient

The workplace environment has a major impact on employee productivity and morale as well as company image. Leasing allows our 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.

Staged lease payments for office furniture

You can arrange for the lease payments for your furniture to start as and when it is delivered, regardless of when you receive funding for other parts of your office fit out project.

For more information about including office furniture and office furniture packages within an office fit out lease agreement, please contact WestWon on Tel: 01494 611 456 or email [email protected]

UK Office Furniture Leasing Is Growing Fast in 2013

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October 2008 is a date that many companies in the office furniture leasing sector remember well.  It was the time when a lot of UK business owners suddenly found themselves facing the stark realities of what they were being told was going to be a nasty and prolonged recession.  The term “credit crunch” was being widely used in the press and, being an office furniture leasing company, we knew only too well how serious the implications might be.

As a leasing company, WestWon has historically dealt with a wide range of suppliers of capital equipment spanning computers, hardware and software through to waste and scientific equipment.  We have always been specialists in office furniture leasing and office fit out leasing, which includes the ‘soft’ costs that a company incurs when refurbishing or moving premises, such as decoration, lighting and flooring.

Office furniture leasing and the credit crunch

Thus, in 2008, when the credit crunch hit, office equipment leasing was an important part of our business and although we saw an immediate and significant downturn in business across the board, the sector that was hardest hit was the office furniture leasing side. It seemed that overnight companies simply put their plans to move offices on hold.

As a result, over the past five years, many office furniture companies have closed their doors. However, those, including WestWon, that were able to weather the storm are starting to see strong signs of recovery.

Office furniture rental and leasing remains a strategic part of our business and in 2013, WestWon has witnessed first-hand the way in which companies are investing again in new office space. Many of these companies are choosing to fund their investment in office furniture and fit outs by taking out a lease agreement with WestWon.

Whether you are an organisation that supplies office furniture or a business that is planning an office move or refurbish its premises and would like to find an attractive lease finance option, please call WestWon on Tel: 01494 611 456  or email [email protected] to discuss the possibilities. You may be surprised to here how many benefits to leasing there are for your business.

New WestWon Website Highlights Benefits Of Equipment Leasing

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WestWon has just launched its innovative new asset finance options website – designed to make it easy for resellers and their customers to discover the business advantages and cost benefits of leasing.

Asset-based finance allows customers to buy the equipment they need now and pay for it over time, ensuring they can acquire the equipment they require from their preferred reseller when they need it.

 

WestWon Website Makes Leasing Easy

Packed full of the latest useful information, WestWon.co.uk provides:

 

For specific questions about how leasing can pay dividends for both businesses and resellers, please call us direct on Tel: 01494 611 456 or email [email protected]

WestWon has already signed up 100’s of resellers to our Finance Partner scheme and we look forward to speaking to many more soon.

 

About WestWon Asset Finance & Leasing

With its Headquarters in Beaconsfield, Buckinghamshire, WestWon is a well-established provider of equipment asset finance and leasing to all types of companies in the UK. As a member of the Finance and Leasing Association and National Association of Commercial Finance Brokers, WestWon is committed to the principles of transparency and adherence to industry best practice in all transactions.
For more information see www.WestWon.co.uk

 

New WestWon Asset Finance and Leasing Website Designed with Customers in Mind.

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Leading asset finance and leasing company WestWon has today launched its innovative new asset finance options website. Offering a free downloadable guide to Planning Your Finances with Leasing, and with an online Equipment Leasing Calculator and up-to-the-minute live leasing deals feed, www.WestWon.co.uk makes it easy for all types of companies to find out more about leasing and compare lease v. buy costs of capital equipment.

This latest Investment in online leasing resources follows the opening of WestWon’s new Midlands office, located in Glenfield, Leicester, on 1st September 2013. WestWon CEO Jeremy Hall believes that demand in the Asset Finance marketplace is set to rise further, and that WestWon is at the forefront of delivering the type of quality service that businesses deserve.

“WestWon is committed to providing competitive, easy-to-arrange lease finance for new equipment and related services,” commented Hall. “WestWon is a leasing company that prides itself on offering the best leasing options at great rates, and using the latest online technology to deliver unbeatable pre-sales and post-sales customer service.”

“Not every business that could benefit from lease finance is necessarily up to speed with leasing terminology or the cost benefits of leasing v buying equipment, which is why we have invested in our new multi-faceted website.”
WestWon specialises in Office Equipment Leasing and IT and computer leasing as well as asset-based finance for a wide range of business needs, for example: Engineering Equipment Lease Finance, Scientific & Medical Equipment Lease Finance, Processing and Packaging Equipment Lease Finance, Waste & Recycling Equipment Lease Finance, Catering Equipment Lease Finance and Leisure Equipment Lease Finance.
With its Headquarters in Beaconsfield, Buckinghamshire, WestWon is a well-established provider of equipment asset finance and leasing to all types of companies in the UK. As a member of the Finance and Leasing Association and National Association of Commercial Finance Brokers, WestWon is committed to the principles of transparency and adherence to industry best practice in all transactions.
For more information see www.WestWon.co.uk, email [email protected] or Tel: 01494 611 456

 

 

 

Small Businesses Need Better Access To Funding For Growth

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Small companies’ access to finance is the issue which business secretary Vince Cable worries about the most, he has revealed.

Speaking at Innovate UK in London, Cable said: “We’re dealing with the legacy of a terrible financial crisis and it will take a while to get lending flowing to SMEs. This is the one subject which keeps me awake at night.”

The business secretary added that “banks aren’t doing what they should be doing – lending to SMEs” despite government initiatives like Funding for Lending which he admitted “frankly isn’t yet working the way it should”.

Saying that ministers are trying to get capital flowing to small firms, Cable stressed: “We realise there’s a terrible problem but we’re doing all we can.” 

WestWon’s Jeremy Hall commented, ” Access to funding and protecting cash flow remains a major issue for many SMEs today. That’s why many more businesses are actively looking at leasing as a positive way to invest and grow.”

Read about the Benefits of Leasing or call Tel: 01494 611 456 for more information.

https://www.businesszone.co.uk/topic/finances/small-firms-not-getting-funding-keeps-me-awake-night-says-vince-cable/48859

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