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Technology Investment Sets Leading Leasing Companies Apart

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The second annual review of the UK asset finance brokers’ and independent lessors’ industry, authored by Asset Finance International and sponsored by Nostrum Group, reveals that UK asset finance brokers are experiencing a surge of new business demand in 2014 and this is coupled with a greater commitment to the benefits of investing in technology.

The soon-to-be-published UK Asset Finance Brokers & Lessors Review 2014  includes a unique host of interviews with broker practitioners as well as industry specialists and senior trade association staff.

It provides a fascinating comprehensive and forward-looking assessment of the market, its current and future drivers and key industry issues. As before, it has been compiled with the assistance and support of the National Association of Commercial Finance Brokers (NACFB), the British Vehicle Rental and Leasing Association (BVRLA) and individual brokers and funders.

Investment in leasing technology

The review reports a surge in interest and investment in technology. Although investing in technology has steadily grown to be an integral component of a broker’s business in recent years – most UK brokers now regard investment in updating technology as vital to efficiency and maintaining a competitive advantage.

Many funders are looking at introducing or improving proposal systems, particularly in the broker space where speed of service is critical. As one senior broker stresses: “A key area for technology has to be in terms of speeding up the time it takes from enquiry to getting a deal agreed. The sooner you can take a deal out of the market the better.”

Another adds: “IT in hand and use of cloud technology for back-up is business critical. As long as IT infrastructure, e.g. fibre optic broadband, across the UK is robust, this will be sufficient for many brokers.”

Another broker told Asset Finance International that investment in IT has been necessary to suit the business set-up, and has reaped rewards: “We have invested heavily in IT over the last five years (£90k) and developed our own systems with the help of our own IT consultants. We have a remote home-based sales force and this investment has allowed them to work faster and smarter with minimal downtime, which in turn has allowed them to do more front-line selling!”

WestWon leasing technology

WestWon has long been at the cutting-edge of technology investment in the leasing sector with the development of state-of-the art web-based technology for its online proposal system. It has also created the highly-successful WestWon Parent Portal for school parental donation schemes for iPads and tablets.

WestWon CEO Jeremy Hall comments, “Just a few years ago, finance and leasing was largely-conducted face-to-face and by phone. Today, these channels of communication remain an essential part of our client services. But we are also very much a technology-driven operation with a state-of-the-art quotation system, which allows us, our clients and our business partners to obtain instant rates for any type of equipment based on their specific requirements and business parameters.”

“Our purpose built lease administration system has been continuously developed over the years and is, without doubt, one of the most advanced client-based asset finance CRM systems in the UK.  This powerful tool lies at the very heart of what we do, underpinning our success to date and future plans for growth, and offering  a smooth and seamless transition from initial quote to final funding for our many clients. We also lay claim to offering one of the industry’s most user-friendly websites at www.westwon.co.uk .”

For more information call WestWon on Tel: 01494 611 456

Lease or Buy Waste Equipment and Recycling Machinery?

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These days nearly every company in the UK, from large corporation to SME, requires some form of waste management equipment and/or  recycling machinery be it a humble shredder to large scale compactors and balers. Efficient waste management can prove costly where buying new equipment is concerned. Equipment is also constantly being updated and may businesses understandably look to leasing as a solution that allows them to avoid both obsolescence and the need to tie up existing capital and lines of credit that could be used to safeguard cash flow or purchase other mission-critical equipment.

Should My Business Buy or Lease Waste and Recycling Equipment?

As with every business decision, there can be pros and cons, but, in general, companies find the following benefits of leasing persuasive:

  • Lease payments for waste and recycling equipment can be set against profit, thereby potentially reducing tax bills.
  • Flexibility and cash flow boost: you can obtain the waste equipment and technology you need without tying up available cash and lines of credit.
  • 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.
  • Flexible repayments: lease payments for costly assets 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.
What Waste and Recycling Equipment Can My Business Lease?
  • Cardboard baler leasing
  • Leased recycling machinery
  • Finance for plastic recycling equipment
  • Horizontal baler leasing
  • Finance for vertical balers
  • Leases for semi-automatic balers
  • Finance for plastic compactors
  • Wood chip shredder leasing
  • Leasing for paper compactors and paper shredders
  • Asset finance for food waste disposal systems
  • Leasing glass crushers and rented drum crushers
  • Lift, tippers and dumper leasing
  • Magnetic separator leasing
  • Power, light and heat equipment leasing

WestWon is a leasing company that specialises in the waste equipment and recycling machinery asset finance and can quickly help you to calculate your best leasing options. For an instant lease finance quote, you can use the WestWon online lease calculator or simply call out leasing experts on Tel: 01494 611 456 for a rapid response to any queries you may have.

Questions You Should Ask About Leasing IT And Computer Leasing

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Harnessing the latest IT and computer technology is key to enabling business advantages such as fully integrated mobile working. Given the speed at which technology changes, and the onus on companies to keep up with the competition in terms of IT infrastructure efficiency, IT and computer leasing has much to recommend it and is now one of the most popular means of financing technology investments.

However, if you are a business thinking about leasing equipment, you should be prepared to do your homework in order to get the right IT and computer leasing deal for your circumstances.

Questions To Ask About IT & Computer Leasing

  1. With a capital or finance lease, you select the equipment you require and the finance company arranges the finance for it. You make a series of lease rental payments over time, which gives you use of the asset for the duration of the lease and at the end of the lease, you will normally have the option to acquire the asset at an agreed price or return it to the leasing company.
  2. With an operating lease, the equipment is considered a monthly operating expense rather than a depreciating asset, making ‘off-balance sheet’ funding possible.
  3. How long is the lease for? Usually, leases for computer equipment run over 24 to 36 months. The longer your lease, the lower your monthly payments–but you’re also likely to pay more over time with a longer lease.
  4. Does the equipment have to be insured? Some leasing companies require you to insure the leased equipment. If you don’t, fees may be added to your monthly payment to cover insurance.
  5. Can you include software and maintenance services as part of your lease agreement?
  6. Can I add to the lease? Most leasing companies don’t mind if you add equipment to an existing lease. Your lease payment will be recalculated accordingly; lease terms don’t usually change.
  7. Can I terminate the lease early? What if you no longer need the equipment you’re leasing or you want to upgrade to newer technology sooner than you expected? Find out in advance if you can pay off your lease early, and if there’s a prepayment penalty (and if so, how much?).

If you require IT equipment such as computer hardware, software, servers, laptops, routers and cabling for your new company or company expansion, leasing may well be a good option. After all, you wouldn’t pay your employees their wages for 3 years upfront, so why tie up a large amount of cash on computer equipment for them to use – especially when you could earmark that money to establish or grow your business?

For more information about your IT leasing options call WestWon on Tel: 01494 611 456. You can also download Financing Your Business Plans – Guide To leasing

What Does The March 2014 Budget Mean For Business?

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As always when a new budget is unveiled, businesses pay close attention to see how they will benefit from the changes. At a time when the UK economy has started to turn the corner, many were hoping for further stimulus in the budget to cement the move into positive territory. So what Does The March 2014 Budget Mean For Business?

Key points for business in the March 2014 budget

• Doubling the corporate investment allowance to £500,000, to the end of 2015, at a cost of £2bn in the short-term;

• A £7bn package to cut energy bills for British manufacturers, including capping the carbon price floor from 2016/17 until the end of the decade;

• Doubling the UK Export Finance loan scheme to £3bn;

• Raising the rate of the research and development tax credit for loss-making small businesses;

• £500m of finance to small housebuilders and a further £150m to fund the Right to Build scheme:

• The introduction of tax credits for the social investment industry;

• The introduction of a new allowance to support billions of pounds of investment in difficult-to-drill oil fields in the North Sea.

Budget Commentators

Early commentators on the 19th March included John Longworth, director general of the British Chambers of Commerce who said, “Osborne’s focus on investment, exports, house-building and economic resilience passes the business test. By making a better business environment his top priority, the Chancellor has recognised that successful and confident companies are the key to transforming Britain’s growing economic recovery into one that is felt in homes and on high streets.”

Specifically he said about business measures, ““Consistent allowances help companies invest with confidence. Given that business investment remains far below its pre-recession level, it is fantastic that the Chancellor has responded to our call to extend the Annual Investment Allowance, and that he has doubled the amount covered to £500,000 from 2015. That will give many growing and medium-sized companies the confidence to push ahead with investments they’ve long wanted to get off the drawing board.”

Meanwhile John Cridland, director-general of the CBI, said the Budget would put “the wind in the sails of business investment.”

“The doubling and extension of the annual Investment Allowance, together with making the seed enterprise investment scheme permanent, will be a shot in the arm for many medium-sized businesses,” Mr Cridland continued.

For more information about funding for new corporate capital investements, contact WestWon on Tel: 01494 611 456.

Business Equipment Leasing In Northern Ireland

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As a nationwide leasing company covering Northern Ireland, WestWon was interested to find out more about nibusinessinfo.co.uk

This free service offered by Invest Northern Ireland, is the official online channel for business advice and guidance in Northern Ireland. It contains essential information, support and services for you and your business – whether you work for a large organisation or are on your way to starting up.

Amongst the useful content on the site is a section on the benefits of leasing. According to NI Business Info asset finance allows businesses to acquire the equipment and assets they need in order to operate that they may otherwise be unable to afford. It can also free up working capital for use in other areas of your business and save you from having to take out a large loan to buy equipment outright.

There are two main forms of asset finance:

  • Leasing – renting it over a period in return for fixed rental payments.
  • Hire purchase arrangements – an initial deposit is paid towards the cost of the asset and the balance is then paid in instalments over a period of time. At the end of the hire purchase period, you would make a final payment and gain ownership of the asset.

You should think about leasing or renting equipment that has high maintenance costs, can quickly become outdated, or is only used occasionally.

There are several advantages of leasing or renting equipment:

  • you don’t have to pay the full cost of the asset up front, so you don’t use up your cash or have to borrow money
  • you have access to a higher standard of equipment, which might be too expensive for you to buy outright
  • you pay for the asset over the fixed period of time that you use it, which helps you budget for the future
  • as interest rates on monthly rental costs are usually fixed, it is easier to forecast cashflow
  • you can spread the cost over a longer period of time and match payments to your income
  • the business can usually deduct the full cost of lease rentals from taxable income
  • if you have not bought the asset outright, you won’t have to worry about any overdraft or other loan taken out to finance the purchase being withdrawn at short notice, forcing early repayment

See more at: https://www.nibusinessinfo.co.uk/content/leasing-or-renting-business-equipment

For more information about leasing deals for Northern Irish businesses or to obtain a quote for equipment leasing, please contact WestWon on Tel: 01494 611 456

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.

 

 

How Much Does It Cost To Lease New Machinery And Equipment?

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A major cost benefit of leasing is that it allows businesses to spread the cost of new equipment over its useful life.  Payments for equipment finance can be made on a monthly, quarterly or even annual basis over a number of years, typically 2-5 years. But how much does it actually cost?

Well, it is now easier than ever to compare lease versus buy costs using WestWon’s instant online leasing calculator.

If you know how much the equipment you require costs, you can calculate the rental payments over your preferred rental period within seconds. Simply enter the capital cost and your chosen lease rental term, and hit the calculate button for an immediate answer.

You can also have a copy of the quote emailed to you or another person for easy reference.

Leasing versus buying? It’s certainly food for thought and so much easier to decide when you have the figures to hand. For more information about any aspect of leasing, please contact WestWon on Tel: 01494 611 456.

You can also download  Financing Your Business Plans – a guide to equipment leasing.

 

Leasing VOIP Telephony Equipment As Part Of Your Office Fit Out

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When WestWon moved to its new offices at the Old Rectory in Beaconsfield, Bucks, we undertook a major office fit out – everything from desks, chairs, partitions to boardroom furniture and flooring to laptops and AV equipment. Being a character building, the Old Rectory is full of charm … and also quirks, as we discovered when it came to fitting it out.

Naturally, as a leasing company, leasing the fit out was the obvious solution for us. And as part of our office refit we took the decision to install a new Voice Over IP (VOIP) telephone system – telephony equipment that uses the internet as opposed to a “normal” land line.

Leasing technology as well as furniture

Initially we were slightly dubious about the technology. Will it work? Will the service be secure and reliable? Will the sound quality be OK? Such doubts were unfounded.

Thus far, leasing our telephony has proved a sound business decision. The running costs are not just significantly lower, but the system also offers a number of key benefits.  One example is how well it integrates with our CRM system – simply ‘right click’ on any telephone number in the system and press dial and, within seconds, we’re having a conversation. It is also very easy to set up the system for use from home as long as you have a laptop and an Internet connection.

Integrated telephony leasing

Of course, WestWon has also helped many other companies, large and small, to secure lease finance for their office fit out including telephony systems. In our experience, many sales organisations also choose to install a PBX system on the wall to monitor activity – quite an expensive item and ideal for leasing.  And in general, at around £100 per CISCO handset together with the set up costs, telephony leasing certainly has its attractions for both established and new start up businesses.

For more information about leasing VOIP telephony or any other IT equipment, or indeed any aspect of a planned office move, refurbishment or fit out, please contact WestWon on Tel:01494 611 456.

Scientific and Medical Equipment Leasing Offers Greater Benefits for Patients and Organisations

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Technology continues to advance at a rapid pace, which is particularly evident in the scientific and medical fields. However, keeping up with science can be a drain on the finances for any organisation or medical practice. Scientific and Medical Equipment leasing allows surgeries, hospitals, dental practices, laboratories, pharmacies, opticians, universities and veterinary practices to easily upgrade technology and avoid equipment obsolescence. Indeed, one of the fastest growing and most popular ways for the sector to finance equipment and technology is through a lease agreement.

Benefits of Scientific and Medical equipment leasing

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. Other methods of equipment acquisition, such as outright purchase, do not have the same level of tax benefit.

Leasing offers the flexibility to acquire the latest technology required straight away to ensure equipment is up-to-date, reliable and accurate to provide the highest quality of care for patients and optimum results. It prevents having to delay the implementation of plans until sufficient funds become available, enabling new technology to be adopted instantly.

Most types of Scientific and Medical equipment can be leased

From a dentist’s chair or a hospital bed to an entire operating theatre, 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. You can choose any combination of equipment and technology from multiple suppliers for your lease agreement.

Some of the most common types of scientific and medical equipment that can be leased include:

  • diagnostic equipment
  • surgical instruments
  • decontamination equipment
  • hospital beds and furniture
  • imaging technology
  • pharmacy equipment
  • laboratory equipment
  • surgery fit outs
  • security systems

 

WestWon Limited has a wealth of experience in providing asset finance solutions for the scientific and medical sectors. For more information, download the WestWon Fact Sheet for Scientific Leasing. Tel: 0194 611456 for more information or an instant lease quote.

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

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