There’s never a bad time to invest in top-of-the-range security equipment. However, with the current lockdown resulting in fewer cases of theft and burglary, now might be the best time to ensure that you’re prepared for a potential ‘bounce back’ in crime once restrictions are lifted and normality is restored.
Figures from the Office for National Statistics show that crime in England and Wales dropped by almost a third in the first two full months of lockdown (March and April), driven by falls in reported thefts and burglary.
However, three quarters of police forces (78%) reported a rise in burglaries in the period following the first lockdown, which were up by more than 100% in some areas, according to research by MoneySuperMarket.
Of course, there are more reasons why you might need to invest in security equipment besides guarding against crime. Perhaps CCTV and monitoring equipment is necessary to keep employees safe as part of health and safety regulations. Whatever your reasons for requiring a security system, you should consider opting to lease the equipment rather than buying it outright.
Here are the main benefits of security equipment leasing:
1. Help your cash flow
Leasing the equipment means you don’t have to use up your cash reserves to get the system you need. Managing cash flow is especially important for smaller businesses that have limited reserves, and for companies that have been impacted by the coronavirus pandemic.
Leasing requires no major upfront cost and means you can benefit from new equipment while keeping money in the bank – 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 will send you into your overdraft and neither will you need to rely on loans or other credit lines.
2. Take advantage of the best equipment
If there’s one area you shouldn’t scrimp on, it’s your security. Yet, top-of-the-range security equipment doesn’t come cheap and some businesses will simply be out-priced from acquiring the system that would provide the protection and monitoring they need.
What’s more, there’s a chance that older, existing equipment could fail and miss an event. This could prove extremely costly for your business – either due to a direct loss such as theft, or indirect costs where health and safety or business efficiencies are compromised.
However, if you lease your equipment, you can upgrade to ensure you have the best and most reliable technology at all times – then potentially upgrade again when the agreement ends to benefit from any advances in technology.
3. Pay as you use leased equipment
It makes much more sense to spread the cost of your security equipment lease through its working life – e.g., three to five years – as opposed to stumping up the capital outright. While there is no monetary return over time from security equipment, its job is to protect your assets and your people – something that’s hard to put a price on.
Meanwhile, knowing how much you’re paying out each month helps you plan budgets for the year with a degree of accuracy. Alternatively, if you decide to stick with an outdated system, it could fail at any point and need replacing, which is harder to budget for.
4. Reduce your tax bills
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.
Lease your security equipment with Shire Leasing
At Shire Leasing, we have helped businesses across a wide range of industries benefit from cutting-edge security equipment acquired through leasing. We have profound knowledge of the sectors we serve and the unique challenges they face.
What’s more, we aim to be as flexible as possible with our payment options, which can prove invaluable in uncertain times such as these. We understand that your cash flow needs protecting through this unpredictable period, which is why we offer tailored finance solutions to suit your business’ unique requirements, such as our new Low-start Lease.
Get in touch today to find out more about how our finance and leasing solutions can help your business navigate the ongoing challenges and threats presented to it.