For many business owners it seems like the next step in an economic downturn is to hit the STOP button on spending and halt investments in equipment in an attempt to hold on to cash. However during a poor economic climate is the best is the time to actually gain a competitive advantage, but how?
Become well equipped, literally. Leasing provides the solution to upgrade existing equipment, acquire new equipment, or implement technological advances without a large outlay of cash. Many businesses do not realize it, but just about any type of equipment can be leased. Phone systems, office equipment and software, to commercial vehicles and equipment.
• Flexibility. During the life cycle of your business your needs change. With equipment leasing you can add or upgrade equipment at any point during the term.
• Upgrade technology . Equipment that depreciates quickly should be leased, period. Don’t risk of getting caught with obsolete equipment.
• Improve your forecast. Leasing helps to accurately forecast cash requirements for equipment since you know the amount and number of lease payments required.
• Tax benefits. Enough said.
• 100-percent financing . In a challenging economy, cash reserves are key. Leasing allows to finance up to 100%.
The value of equipment comes from using it, not owning it. That’s why financing makes so much sense for many businesses. First, it allows them to transfer ownership risk and uncertainties to the finance company. Second, it frees them to concentrate on using the equipment in the most productive ways and to the greatest benefit in their business operations.