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Date: 2/10/2002

Tips on Purchasing Computer Equipment
- Leasing

By Richard Dean, CompleteSynergy
Copyright 2002

Small businesses are among the largest purchasers of computer equipment, but with technology prices soaring few can afford to invest in new equipment. Richard Dean investigates the advantages of leasing.

Buying computer equipment causes many small business owners' sleepless nights. Increasingly technology plays an important role in the workplace; it can improve staff efficiency, cut costs and improve the customer experience leading to more sales. Unfortunately these benefits don't come cheap, especially for small businesses that have limited capital and often cannot afford the huge cost associated with new equipment - 15,000 is not unusual for a network of five computers.

Leasing is an option that offers a huge number of benefits over a traditional bank loan. In a leasing agreement, a leasing agent purchases the computer equipment and then rents it to you over a number of years, typically 3 to 5. Your business pays a fixed monthly sum, which is manageable and can be incorporated into business plans and cashflow forecasts. Even better, you can claim full tax relief on the value of the equipment, because your business never actually owns the equipment. At the end of the lease period you can normally purchase your equipment for a nominal sum (50 or less) or simply swap the equipment for the latest models.

Leasing protects you from IT depreciation, which is all too common in the rapidly developing arena of computer technology. If you decide that a computer is too slow, then you can simply swap it for the latest model, often with no or very little change in monthly payments.

Depending on who you choose to lease with, you can also benefit from technical support over the life of the lease which removes the need to employ a full time (and expensive) IT expert. "Our clients are predominantly small business owners, who realise the need for IT, but lack the technical skills needed to choose the best equipment for their needs and resolve problems that may occur," says Mr John Swarbrick of CompleteSynergy who lease IT equipment nationally to small businesses. "We provide peace of mind technically as well as financially on an IT investment, allowing business owners to focus on what they do best; selling."

Leasing is growing fast in the UK and is set to increasingly feature as an easy solution to the nightmare of purchasing IT equipment. With the right agreement it could benefit your business and even improve cashflow. As with all financial decisions however, seek advice from your accountant before committing to additional expenditure. Sweet dreams!


Richard Dean, CompleteSynergy

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last modified: October 02, 2002