5 reasons why small business should lease their equipment

For any company, but especially a small business, every penny counts. A successful small business is one where everyone working there really believes in the mission, there is give and take on both sides, and every worker—from owner to new hire—wants it, badly, to succeed.

Often, a business can succeed or fail with the help of its equipment. Old computers will have slower processing times than newer ones, or an ancient phone will drop important calls on a seemingly random basis. Here are some reasons that SMEs might find leasing a better option.

Keeping up with competitors

Often, small businesses starting out will have a long way to go before they can challenge their competitors. Leasing newer equipment helps them get there faster, displaying nous and resourcefulness that will impress their customers. Chances are, SME competitors are more set in their ways and might not have thought about equipment leasing, so you’ll be able to beat them with better and faster technology.

No ownership issues

If a prodigiously expensive new piece of tech crashes and dies on its second day out of the box, it can mean days of fighting a company and trying to convince them to take it back, weeks without the equipment while waiting for a replacement, and disgruntled staff and customers. Leasing, on the other hand, means that the equipment will be replaced or repaired quickly with no extra cost to you. Plus, when it comes to leasing, there’s no arguing about how a sensitive piece of equipment should be disposed of; the leasing company takes it back.

Staggered payments

Money can be a bit of a tightrope to walk if your business is on the smaller end, which is why leasing makes sense. You can space out the payments monthly or weekly so that you know exactly how much is going out monthly—and the price includes consultations as well as repairs.

Upgrades to newer equipment

Leases last for an agreed term between you and your lease provider, and you have a choice when the lease is up; either to buy equipment yourself, end the relationship between you and the provider, or else get a lease on newer, faster and better equipment. This way means that you’re not sacrificing quality or putting your company in debt so that you can get business-critical tech quickly.

Want to find out more? Contact us to discuss your IT asset leasing needs.