It is now commonplace for businesses to use leasing to fund business assets. More commonly used for machinery and vehicles, leasing IT equipment is no different, providing a fixed monthly cost – and making equipment upgrades more affordable for your customer.
IT is a broad term, covering all of the hardware equipment and software that businesses and their customers rely on every day. This reliance, together we a need for greater speed, functionality and connectivity are driving up costs, with regular upgrades and adherence to protocol. This makes IT equipment leasing a more affordable option for most businesses; it also builds longer-term relationships with your customers.
Do Customers Need Funding?
Yes – they do. Stats show that SMEs need finance to support their purchases:
The computer industry in the UK is worth over £184 billion; and according to the Finance and Leasing Association, 1 in 3 SMEs require finance to purchase their equipment.
A recent report from Tech Nation found that tech is growing 2.6 times faster than the rest of the economy. It’s grown so much that London is now the second most connected place after the famous Silicon Valley. While turnover for tech companies grew by 4.7% in 2016- 17, UK GDP lagged behind at 1.7%.
This means that businesses are continuing to invest in their equipment, requiring finance for their IT equipment in order to spread the cost and avoid a large initial outlay.
What Can Be Financed?
You can provide IT leasing solutions for the following equipment:
- Related IT equipment leasing
- Computer mainframe and server equipment leasing
- Software (as long as it’s sold with the hardware) leasing
- IT networking and switch equipment leasing
- Electronic testing equipment leasing