Our recent survey has highlighted that a lack of funding is a fundamental barrier to growth for UK businesses.
*Half of businesses lack the funds to purchase the equipment that they need to drive sales growth and are holding on to obsolete equipment. Despite this, larger businesses find up to £179k annually for new equipment — placing a burden on vital cash flow.
Leasing Options = Business Growth For You And Your Customers
Businesses need you to offer them financial options so they know they are not restricted by invoice value, only by what they can afford on a monthly basis.
Starting the conversation with finance, rather than letting it linger in the background positively influences:
- The range of products you can discuss.
- The openness to discuss what’s best, rather than what’s affordable now.
- Builds longer-term relationships with options to upgrade later on.
Leading with lease helps your prospective customers to get into the mindset of driving their business forward.
Remember: You don’t need to be a finance expert. The customer will be provided with full key facts documents by the leasing provider as part of the FCA guidelines. It’s simply an option.
Old Equipment Hinders Growth
8 in 10 office-based companies are holding on to obsolete items of technology that have no use for their business.
This old equipment has a negative effect on the way the way employees and equipment purchasers feel about business growth. 85% of those surveyed stated that old equipment hinders the business’s ability to grow.
It’s not great trying to do your job with equipment that fails, it’s frustrating, and if it impacts speed of service, accuracy or quality, it’s bad for business too.
Spend On Business Equipment 2018
Our survey showed that spending fluctuated dependant on business size. Equipment purchasers spent between \£62,100 and £179,000, which can have a significant impact on cash flow or make the purchase cost prohibitive.
What Would Upgraded Equipment Mean For Businesses?
- Increased quality of products/services (38%).
- Faster delivery of products/services (37%).
- Enhanced communication with customers/clients (34%).
- Enhanced communication within the business (30%).
- Enhanced reputation for innovation (30%).
- Ability to increase customer base (30%)Increased profit margins (26%).
Do you need more support to provide leasing? Contact a member of the Shire Leasing team on 01827 689 39 or email supplier@shireleasing.co.uk.
*Contacted 250 employees with decision-making responsibility over equipment purchasing (Office Managers etc.). The research fieldwork took place between 10nd and 13th August 2018. Atomik Research is an independent creative market research agency that employs MRS-certified researchers and abides to MRS code.
