As a rule of thumb, businesses should always lease equipment that depreciates in value or becomes outdated quickly.
Boston, MA (PRWEB) November 18, 2013
The office equipment industry is enormous. A $37B behemoth consisting of companies engaged in manufacturing office equipment such as computers, workstations, photocopiers, facsimile machines, chairs and conference tables, it's no wonder nearly every business on the planet is tied to it some way.
But the office equipment business is changing - and how businesses acquire the equipment needed to run their companies is changing as well. Businesses are increasingly turning to a more affordable, flexible and tax friendly option, namely office equipment leasing.
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The office equipment industry is subject to wild swings typically tied to the economy but whether business is good or bad thee are three changes driving the way companies purchase office equipment. First, employees are working remotely in increasing numbers and they are likely to switch employers more often, consequently the burden for purchasing office equipment is increasingly being pushed to the employee. Next, the rapid rate of innovation on electronic office equipment products, most notably technology products and a company that purchases its office equipment outright may quickly find that same equipment not only unused but rapidly outdated as well. Finally, increasing competition is driving the price of equipment down so companies want to avoid getting stuck with expensive furniture or equipment on the books that can be replaced at half the cost.
This is why smart and nimble companies are increasingly turning to office equipment leasing as a flexible and affordable solution to adapt to changing market environments.
All Businesses Lease...But Should They Lease Office Equipment?
According to the Equipment Leasing and Finance Association (ELFA), approximately 80 percent of U.S. companies lease some or all of their equipment. But far too many companies underutilize office equipment leasing, choosing to cash purchase items oftentimes better suited for leasing.
Office equipment leasing company LeaseQ Founder and CEO Vernon Tirey stated, "As a rule of thumb, businesses should always lease equipment that depreciates in value or becomes outdated quickly. A good example is computer equipment which we all know both depreciates in value and becomes obsolete almost as soon as it's out of the box. For this kind of office equipment, a business should seriously consider leasing".
Continued Tirey, "Software licenses are an extreme example of a product that needs to be upgraded frequently but there are some terrific leasing companies that will finance software. The same applies to photocopiers, printers, scanners and any other piece of equipment that use constantly changing technology. These product markets are mature and highly competitive so manufacturers have no interest in supporting a secondary market for these products or refurbishing them consequently it is much cheaper to lease these types of office equipment than to make an outright cash purchase".
This is especially true for startup businesses with limited cash flow, it's generally not be a good idea to purchase office equipment up front. Rather than have business capital tied up in equipment, it’s much better to lease. Leasing allows a business to acquire high quality equipment without paying too much money for it upfront. Plus, if the business does not need the equipment after the lease period, it can be returned or even purchased for $1.
A Powerful Platform to Acquire the Equipment a Business Needs
As an office equipment lease and finance provider that helps businesses finance the equipment they need to grow their business, LeaseQ makes the whole process fast and easy. When a business taps into the LeaseQ One Touch Lease platform, they are able to immediately see which leasing rates and plans they qualify for from leading finance companies. The easy to use platform compares the best rates and terms that best fits a business’s needs and budget. It takes only two minutes, requiring minimal input from the business owner and free from bothersome high-pressure sales tactics at traditional leasing outfits.
The LeaseQ One Touch platform can also run real-time personal and business credit scores without impacting the business owner’s personal credit. This fast and painless process means that business owners can come back over and over again without worrying about taking a hit on their credit rating. It's fast, simple and best of all 100% free of charge.
LeaseQ provides financing options for all equipment types and has rapidly become the largest online network of equipment dealers and equipment finance companies.
Based in Woburn MA, LeaseQ is one of the leading providers of equipment leasing and financing options in the country. Try their online leasing and financing platform by visiting them online at https://www.LeaseQ.com.