Business Equipment Finance

Business Equipment Finance

When starting out a new business one of the things you need to consider is the overheads. This is a problem at the start of the business, when you have yet to make any money from your great idea and yet need to buy all of the initial equipment you’re going to need and promise a regular salary to any employees. While the latter point will come down to just how good that business plan of yours is, and probably come from an investment of your own cash; the purchasing of equipment needn’t present any cost for you upfront. How you ask? The answer is through business equipment finance, which will enable you to spread the cost of your equipment over several months or years (whatever suits you personally) in exchange for a small amount of interest, thereby negating the necessity for large investments up front.

This is useful for many reasons and minimizes the risk slightly while leaving you more cash free to funnel into marketing and HR. Furthermore it means that you can avoid cutting corners and select the most high-spec and high-quality equipment that will provide the biggest investment by lasting longer before it needs replacing. You may even be able to buy in bulk and save yourself a lot of money in the long run. Get loan repayment insurance and invest the money you save and you can kit your business out with the very best equipment with no risk. As you begin to succeed in the world of business you will start to recognize that the best business models are often those that require the least amount of investment up front.

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Now that you’ve chosen business equipment finance to fund your business equipment and supplies, you need to start thinking about the kinds of things you’ll need for your business. Obviously this will depend largely on the type of business you’re running – for a bungee jumping company you might want to invest in a lot of rope while this won’t really be that useful if you’re setting up a management consultancy company.

There are however many things that will be useful no matter what your business trades in. The most obvious of these are computers, and you will most likely want one per individual in the company. While you may think this is an area you can save money on by going for lower-spec models you’d be wrong and would only end up having to update them shortly after. This is because software will be designed to run on the latest machines, and once a new operating system comes out that your old processors and RAM can’t handle you will be unable to use the latest versions of Microsoft etc which will lead to much wasted time converting files and downloading freeware to mimic the newer software. Likewise you will need to invest in the latest software, with Microsoft Office most likely being at the top of the list, though many in the publishing industry now use Macs for their user friendly interface.