Nothing is free in this world, and you must pay the price for everything, including success. Similarly, you have to pay the cost of growth according to your company’s financial situation. Some expenses are upfront, and others may stretch out over time. To successfully run your business, you can prefer phone, copier and printer rentals.
Leasing is specifically good if you need equipment for a short period. In this way, you can get advanced technology with regular maintenance services. However, you can buy your equipment later because leasing can be expensive in the long run.
If you cannot pay an upfront cost for office technologies, you can get copier and printer services from a reliable company, such as Pbtechs. Leasing allows you to meet your needs at an affordable price because you need this equipment to run your business and beat the market competition. Here are six reasons to help you understand leasing is a smart move for startups.
DECREASE INITIAL EXPENSE
Undoubtedly, IT equipment is expensive, and you need new machines to change or expand your business. Leasing your business equipment is smart if you have started your business now. It allows you to get money for other business expenses.
If spending lots of money on equipment is impossible, consider leasing everything from copier to printer and advanced phone system. Make sure to work with a reliable office copier leasing company Baltimore MD.
PREDICTABLE EXPENSES FOR BUSINESS
Undoubtedly, it is good to decrease your initial expenditure, but you can make your money costs predictable by leasing your IT equipment. Leasing can be a good decision if your business faces unpredictable situations (the COVID-19 pandemic when employees were working in a remote environment).
Premier Business Technologies offers leasing options for two to three years and spreads equipment costs accordingly. In fact, it is a beneficial approach to divide a high upfront cost into several months. For startups with a limited budget, it will be an easy option.
Convenient Equipment Upgrading
IT equipment can quickly become obsolete, and it is specifically true for computers and several other similar devices. As a result, leasing IT equipment allows you to upgrade it easily without incurring a major expense. Fortunately, leasing allows you to get up-to-date equipment. Once a lease expires, you can take out a new lease along with advanced equipment.
If you want to buy hardware for your employees, leasing will help you to get laptops and other hardware at a better rate. Some leasing companies offer purchase options over a certain period so that you can check out the best options available.
By leasing IT equipment, you can avoid repair and maintenance costs. For this reason, carefully check your lease contract to see if a leasing company offers built-in protection and copier repair services in the agreement. Remember, you have to bear this cost after buying equipment outright.
Built-in maintenance means if any piece of equipment has a fault, the lessor is responsible for fixing it and retrieve for you. Moreover, they are liable to offer a functional replacement as soon as possible.
Get Taxes Benefits
Lastly, leasing IT equipment delivers financial advantages and tax benefits. Usually, lease payments can decrease your liability when filing tax returns because these are tax deductible.
Furthermore, obtaining a lease agreement is easier than obtaining any loan that you may need to purchase office equipment outright. Small to medium companies can use leasing instead of relying on financial institutions for a loan.
Overall, leasing equipment over buying has multiple benefits if you have a limited budget. You can read all these advantages in this article, but sometimes leasing is unsuitable for your business. For this reason, consider the following factors before leasing your IT equipment.
- Needs of Your Equipment (consider important features)
- Is it necessary to upgrade frequently?
- How much do you have to spend upfront?
- Does your business have good credit for leasing?
If your business needs advanced equipment with amazing features, you can save money by considering copier printer services. Though, purchasing these machines upfront can be a better option for your business if you want to use a copier or printed for its whole lifespan.