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Public sector organisations across the UK are striving to improve efficiency, yet are continuously being expected to deliver more with less. With ever increasing pressure on budgets and the ongoing need to reduce levels of expenditure, leasing can provide a vital and flexible solution.

Whether operating within education, healthcare, housing or local government, leasing allows public sector organisations to deliver projects now without the restrictions of annual budgets and by spreading the cost over a period of time.

Leasing can deliver real cost savings as it means organisations do not have to pay full price for an asset that may only be used for a few years. For example, IT equipment can become out of date in just three to four years.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 you will always have the most up-to-date hardware and software.

The lease itself can be tailored to suit your specific requirements. 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.

Leasing is also an attractive from a budgeting standpoint as switching from outright purchase to a lease agreement changes how assets are accounted for. A unique feature of leasing is that it allows the cost to be allocated to revenue as opposed to a capital budget with obvious benefits for the public sector.

From IT hardware to refuse vehicles, a wide range of equipment and assets can be leased as well as entire projects. Other lease options include furniture, photocopiers, security systems and even maintenance agreements. Plus, there is the added benefit that any combination of equipment and technology can be chosen from multiple suppliers for a single lease agreement.

Some of the most popular equipment leased by public sector organisations include:

IT equipment (e.g. PCs, tablets, servers)
IT software and licenses
Audio/visual equipment
Interactive whiteboards
Office furniture
Telephone systems
Printers and photocopiers
Projectors
Laundry equipment
CCTV and security systems
Signage
Minibuses and vehicles
Waste equipment

For more information on leasing for public sector organisations, download the WestWon Public Sector Solutions Fact Sheet.

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 [email protected] 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.

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Why Leasing Is A Viable Option For The Public Sector

Leasing Helps SMEs Access Latest Technology And Other Business Equipment

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