ONS figures for UK GDP published at the end of April 2014 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 Tyne and Wear  and local towns in the area such as Gateshead, Newcastle-upon-Tyne, North Shields, Sunderland, Washington where confidence amongst local businesses is returning.

On the back of recent amendments to the AIA, businesses in the region of Tyne and Wear are increasing or bringing forward their capital investments in equipment and machinery to drive growth and increase productivity and throughout the local region are increasingly recognising the benefits of leasing to finance these investments. With a strong presence in Tyne and Wear, leading leasing company WestWon  has a wide network of 140 local leasing finance partners and has successfully arranged lease agreements for many businesses in the county.

Using a local leasing company 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 obsolescence – a major issue for IT and computing equipment. It also helps start up businesses such as gyms and catering establishments  – coffee shops, restaurants, takeaways – to acquire essential equipment fast, Plus, leasing payments offer considerable tax benefits and can even be tailored to match 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. Indeed, WestWon has recently completed many local leasing agreements in the Tyne and Wear area.

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.

The company has many years’ experience working with organisations in the private and public sector in Wiltshire, including a large number of the near on 450 schools in the region, 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.