When you are starting a new business in Oxford you naturally consider the cost of renting office space in the city, as well as the need for investment into your products and the cost of hiring staff. But do you fully realise the cost of the office equipment you need just to get started, let alone maintain a competitive business? Not all Oxford start-ups, or even more established businesses, have the cash available to purchase office equipment like printers, photocopiers, and other specialist gadgets.
For some Oxford businesses a bank loan works well as a way to purchase office equipment, but for others this is not an option. Equipment leasing is another solution. Find out the advantages and disadvantages of leasing equipment in Oxford, and whether this is the right fit for your business.
Advantages of Leasing Office Equipment
The main benefit Photocopier leasing Oxford provides is that you do not have to find the money upfront to cover the cost of an expensive purchase. When you need printers and photocopiers, this can be a significant outlay. You also have an advantage in that you can access better, more advanced equipment than you otherwise would have been able to afford when buying. You can budget for your lease payments, which helps an Oxford business that may struggle with maintaining a healthy cash flow throughout the entire year. And you do not have to worry about breakdowns or upgrades. In fact, this is one of the best reasons for leasing equipment – you know that you will always have an up-to-date piece of equipment since at the end of the lease agreement you can upgrade to a newer model. It is difficult to be able to afford to buy a new printer or new photocopier every few years. Your Oxford business remains competitive in terms of the technology it uses.
Disadvantages of Leasing Office Equipment
You obviously don’t own the equipment, although in many cases there are agreements where you can buy the equipment outright at the end of the lease. And it is worth remembering that over time it can be more expensive than if you had purchased it outright. But for many businesses in Oxford that do not have the opportunity to buy new, it represents a cost effective way to gain access to new and reliable equipment. Take a careful look at the terms of the lease and the cost of the payments so that you can find a deal that suits your business’s needs.
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