As the economy starts to pick up, more and more companies throughout Lancashire are increasingly investing in capital equipment with the help of flexible leasing solutions from leading asset finance company, WestWon Limited.

With the second largest economy in North West England, Lancashire has a GVA of around £23bn and the region’s aerospace sector alone contributing £850 million to the economy. The food and drink industry is also strong in the county, employing 13,000 people and boasting a network of successful small producers as well as multinationals such as Dr Oetker and Burton’s Biscuit Company.

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 Lancashire 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 locally as well as entire projects. Some of the most popular types of equipment leased in Lancashire 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

WestWon has been helping businesses of all sizes and sectors in Lancashire drive their business forward by arranging lease agreements to meet their needs. With an extensive network of over 600 finance partners and suppliers throughout the county, including over 100 in Manchester, 52 in Bolton, 23 in Burnley and 42 in Preston, the company is able to provide each business with a tailored service and a dedicated account manager.

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