Running a business requires a lot of funding, and it can really take it out of you if times are tough. In your personal life, you may be able to help a financial emergency by utilising payday loans in the UK. However, as a business owner, you’ll probably need to approach things differently. One popular method of financing that you can choose is leasing. This is where you loan something from a lender and pay it back in monthly instalments. The main difference between leasing and a regular loan, is that you’re paying off a physical thing, not just repaying a loan amount. There are lots of options available too, so keep reading and discover the top 6 leasing options for your business.
Equipment Leasing
Equipment leasing is definitely one of the most popular choices for leasing as a business. This is because equipment can be extremely expensive, and not many people can pay for it outright. There are certain types of equipment leasing that allow you to keep the equipment at the end of your term, making it a great way to slowly purchase it without using all your savings. You can also get leasing where the equipment is managed and repaired by the lender, much like a landlord would be in charge of fixing any issues in a rented house. This option can be a little more expensive, but it’s worth it if you want to avoid any repair fees in the long run. Equipment leasing can be great if you want to kit out your business with what it needs but can’t afford it all outright. Instead, you can make one monthly repayment for all the different pieces of equipment you lease, helping you to save much more money for your business.
Vehicle Leasing
Vehicles are another important aspect for plenty of businesses, but again, they can be very expensive. So, instead you can simply lease the vehicle or vehicles that you need and get to work! Similar to equipment leasing, you can get certain vehicle leasing options where everything apart from petrol is covered by the provider. This means you don’t have to worry about tax, insurance, repairs, anything at all as it will all be sorted by the provider. Using vehicle leasing can be super beneficial if you don’t want to have to deal with car repairs or covering break downs when they happen. And you can actually lease more than one vehicle so if you need multiple, leasing can be a great way to get them.
Office Leasing
If you’ve just got your very own office space but are now panicking at the thought of kitting it out with furniture, then office leasing could be perfect for you. The provider will purchase all the desks, chairs, and mouse mats you need, and you’ll just make one simple monthly repayment for an agreed term. This makes it so much easier for you, as you don’t have to try and find all the right furniture or worry about where the money’s going to come from the pay for ten desks. Most office leasing will be leading to you becoming the owner of the furniture at the end of your term too, so don’t worry, they won’t take it off you as soon as it’s paid off!
Technical Leasing
You might not have realised this before starting a business, but technology is expensive. It can be intimidating looking at all the hardware and software that your business needs and wondering how on earth you’re going to pay for it. Nowadays, you don’t have to rely on savings to purchase all the latest technology as you can easily lease it from a provider, making it one easy repayment each month instead of a huge upfront fee. Again, most of these are leasing with the intention of owning it at the end of the term, so you won’t be left computerless as soon as your repayments are finished.
Refit Leasing
If you’ve recently landed yourself a great office or kitchen space, but it’s just not cutting it in terms of modern standards, then you may be considering a refit. However, when you see the eye-watering cost, you may feel defeated. But you don’t have to resign yourself to an old, out-dated kitchen forever. In fact, you can actually lease a complete refit, making it much more achievable and affordable. You won’t have to wait years to finally get the refit you’ve always dreamed of either, and it will be withing reach sooner than you think.
Security Leasing
A business needs to be secure, but security equipment can be pretty costly. However, with the help of security leasing, you can easily make your business safe without blowing all your money. You can get anything from security cameras to software for your computers through leasing, and it can make it that much easier to secure your business. So, if you want to protect your company from anything untoward, then you definitely need to consider leasing all the equipment you need.
Leasing as a business can be a fantastic way to get the things you need without having to lose all your savings in one go. You might not even have savings, so buying things outright might be impossible, but leasing makes it become possible. If your business needs something that will help you grow and succeed, then see if you can lease it first. You’ll be very surprised at how much money you can save!