Consider Leasing Equipment for Your Small Business
Starting up a small business usually comes with a lot of decision making, from purchasing the appropriate California business insurance to what brand of coffee is stocked in the employee break room. One decision you might want to consider, is researching whether to lease or buy your business equipment.
Depending on your field of expertise and the type of equipment you need, leasing may provide you with a cost effective alternative to purchasing.
Here are three potential advantages to leasing business equipment:
• Cash flow: when you’re just starting out in business often there isn’t a lot of money to spread around, so a monthly leasing fee may be a better fit for your budget.
• Support: usually technical support is part of a lease agreement. This may mean if a problem occurs you have access to rapid, professional help.
• Keeping up-to-date: with technology continuing to advance at a dizzying pace, leased equipment may allow you to keep up.
Keep in mind that although there are advantages to leasing equipment, there may be disadvantages that you need to take into your considerations. Whether you choose to lease or to buy your business equipment, it’s vital you ensure your California business insurance provides the correct amount of coverage.