Every business in the UK requires office equipment to ensure that its business runs smoothly. We all know the chaos that an office can be plunged into, when something breaks down or suddenly refuses to work correctly. Investing in office equipment is absolutely necessary, whether it’s laptops, phone systems or copiers, office equipment can help a business grow, adapt and become more successful.
In this article, we are going to summarise some of the benefits associated with leasing office equipment. Many people believe that purchasing equipment is the easiest and cheapest option, but does it offer the best value? There are many factors to consider when leasing a new piece of office equipment, not just the overall cost but also what happens at the end of the lease? What are the tax implications and what happens when the lease expires? There is no right or wrong answer when it comes to working out what is best for your business, but each situation must be judged accordingly, and with a view to how your business needs may grow or change in the future.
4 Advantages of leasing your equipment.
1. Balanced Cash Outflow
Leasing involves a payment per month for the equipment. Instead of a higher single purchase cost, the business can take advantage of smaller monthly payments. This is helpful when forecasting cashflow as you know exactly what is going out each month. This gives the added benefit that it also allows your capital to be put to good use elsewhere within the business.
2. Tax Benefits
Compared to purchasing your equipment outright, lease payments are usually 100% tax deductible.
3. Minimised Risk of Obsolescence
With technology changing rapidly, leasing allows the possibility of upgrades at, or near the end of the lease period. This allows businesses to take advantage of new developments in technology which can often increase productivity and reduce costs.
4. Credit Options
It’s usually easier to get a lease for new office equipment compared to securing a loan for new equipment. As leases aren’t classed as bank loans, lines of credit are open for other needs, giving your business more options.
As a business, it’s important to look at all the options and make a judgement on what is best for your business. As a supplier of Multi-functional-devices we see the vast majority of our customers opting for lease options for the benefits it offers.
If you would like to find out more about leasing and purchasing, feel free to get in touch with us by clicking the button below, or call us on 0333 210 3350.