Cash is king. And never before has that been so true than in the current climate. Being able to minimise repayments right now could be an intelligent way of investing at a time where protecting cash flow is vital.
Leasing provides you with the opportunity to grow your business in line with demand while keeping some cash in the bank. But, your leasing options depend on the lender you partner with. Let’s look at some of the top-line benefits of leasing and how Shire can help you realise them.
What are the benefits of leasing equipment?
Leasing requires no major upfront cost and means you can benefit from new equipment while minimising upfront payments – money you might use to invest in other areas of your business. At the same time, you won’t need to worry that your purchases may send you into your overdraft and neither will you need to rely on loans or other credit lines.
Unlike buying equipment outright, equipment leasing removes the risk of obsolescence – you can simply hand it back at the end of the agreement if it no longer meets your needs. And we all know how quickly equipment can become outdated with advances in technology.
In addition, finance lease rental payments are tax deductible against your profits, meaning that they attract tax relief for the duration of your lease agreement. Your business’ accountant will be able to advise you on how this can reduce your tax bill.
What should you look for in a lender?
Finding a suitable lender is the same as identifying any compatible business partner – you want to see evidence of a long and successful history, plus some values that exemplify what you’d expect from a responsible lender.
Shire Leasing has been trading for 30 years, having first been established by cousins Martin Smith and John Worton in 1990. In that time, we’ve built up a strong funding relationship with the British Business Bank, which continues to support Shire with regular funding.
Most recently, Shire Leasing has been approved for accreditation by the British Business Bank to provide support through the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) under the Asset Finance and Term Loans variants.
This family-owned, completely independent business continues to provide a market-leading service through innovation and expertise, delivering flexible funding solutions for British businesses across a wide range of industries.
We aim to build close and long-term relationships with our clients, which is achieved by developing a deep understanding of their business’ strengths and challenges. Each client is paired with a dedicated account manager and admin support team who strive to deliver a professional and personal service that the big banks simply don’t have the capacity to match.
We’re small enough to care but big enough to cope – with an own book value of over £120m, and relationships with many funders, and a range of asset finance solutions and equipment leasing options, we have the ability to fund even the most unique business assets.
Come and try Shire on for size. Our aim is for you to come away thinking Shire Leasing is the best finance company you’d never heard of. We offer an honest and accountable service, which is key to the integrity of our business.