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FINANCE

The Financial Benefits of Renting your Office Gadgets

Once you’ve decided to add some new hardware to your existing range of office gadgets, you’re then presented with a number of options. You could buy the laptop, Apple Mac, tablet, touch screen or whatever it is you need. Or, you could consider a rent, lease or rent-to-buy deal, an option which is becoming increasingly popular for the UK’s small businesses.

But why are so many businesses deciding to rent their office gadgets? The biggest benefit is probably financial, particularly for start-ups and growing businesses where resources are tight. These are the financial benefits a rental deal can bring…

  1.       Reducing your upfront costs

When resources are tight, businesses have to make decisions about where money should be spent and where it can be saved. Cash-flow is the lifeblood of small businesses. Failing to maintain it at a healthy level can limit a business’s ability to operate effectively and take advantage of opportunities for growth as and when they come along. Ultimately, poor cash-flow management can even lead to insolvency.

If we take the example of an Apple MacBook Pro, you’re looking at an upfront cost in excess of £1,000 depending on the spec. By choosing torent a MacBook Pro, you can substitute this significant outlay for a fixed cost every week or month that you can budget for. The result is more cash in the business to pay those bills.

  1.       Removing the need for technical support

When you buy your Apple Mac upfront, there are also additional costs you will have to consider for software updates, computer repair and ongoing technical support. When you rent hardware for your office, some hire companies include free setup and installation of the software you’re going to need, as well as anti-virus software and ongoing support. That means you can hit the ground running and only worry about the cost of the rental.

  1.       Depreciation

One unavoidable financial consideration when buying office hardware is the cost of depreciation. Every gadget, whether it’s a tablet, laptop or desktop PC, loses its value as soon as you take it out of the box. There are also the regular new releases that can render state-of-the-art equipment out of date within a year.

Renting the latest hardware allows you to protect yourself from the cost of depreciation. Not only that, many rental companies also allow you to chop and change your hardware if a particular product is more suited to your needs. Equally, some rental firms automatically upgrade you to the latest releases to keep your business at the cutting edge.

Is rental right for you?

Renting office equipment is certainly not right for every business but, if budgets are tight, a predetermined monthly line item that improves cash-flow is certainly worth careful consideration.

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