COVID-19 continues to affect businesses of all sizes — from small- and medium-sized businesses (SMBs) to enterprise-level organizations. With nearly 90% of businesses reporting impacts to their level of revenue or their ability to recover from the economic downturn, the majority are looking for continuous planning strategies to help them balance their budgets more effectively over the next year. Focusing on liquidity, meeting debt covenant, and strong cash reserves allows for better long-term financial stability. And one smart way to build up reserves is considering equipment leasing for office technology, rather than outright purchase.
The Advantages of Equipment Leasing in a Post COVID-19 Economy
Equipment leasing has features that are advantageous regardless of the economy. But, as COVID-19 continues to impact businesses, leasing provides additional financial incentives that can help keep companies healthier during uncertain economic times. In fact, equipment leasing brings many benefits to the small business, including:
Fully Warranted, Fully Serviced, State-of-the-Art Equipment
One downside to buying new or refurbished printers or other office equipment is the tendency of office technologies to become obsolete fairly quickly. With a lease, you always have access to the most cutting-edge equipment. Leasing grants your business the freedom to upgrade to newer, more efficient machines at lease end. For additional benefit — and protection — your leased equipment carries the same robust warranty as if you purchased it outright, so initial repairs and service are completely under warranty. An equipment lease also provides complete routine maintenance and service. This keeps your equipment in top condition, reducing work slowdowns due to machine downtime and ensuring high-quality output. Plus, all leased equipment is fully ensured to indemnify your company against accidental damage, loss, or theft.
Flexible Terms with Minimum Commitment
Don’t have a lot of capital to spend up front? Then a lease is the perfect way to get state-of-the-art equipment into the hands of your employees where it can help you keep your business running smoothly. With no collateral or down payment, an equipment lease conserves working capital for mission-critical tasks, or ensures a steadier cash flow for long-term goals.
Money Savings During Shutdown Periods
While many businesses have reopened after the first wave of coronavirus, a building second wave may cause massive shutdowns once again. Businesses that lease office equipment can return the equipment during shutdowns, further conserving cash resources. Then, once the business is up and running again, they can simply re-lease the necessary equipment.
Not only can you conserve cash by leveraging the financial benefits of an equipment lease, but you can also take advantage of hefty tax deductions applying specifically to leased equipment. The Section 179 tax deduction can help you deduct up to $1 million in equipment costs — and the full amount of the equipment — even if you are simply leasing and not purchasing outright. Taking out a non-tax capital lease minimizes out-of-pocket cash while getting the full tax benefits inherent in Section 179.
Let Mac Copy Help Your Business Be Better Prepared Financially
We understand the mounting financial pressure faced by businesses as they weather COVID-19. Many are preparing for a second wave of the virus, and potential related shutdowns. Others are still adjusting to the changes in business processes and consumer behavior brought about by the pandemic. That’s why Mac Copy has simplified printer and office equipment leasing. Let us bring all the advantages of equipment leasing to equip your staff — and your business — for future success. Our team of office technology experts can assess your needs and business objectives to find the perfect equipment for you. Our recommendations work to help you reach your goals faster — and with less financial risk. A Mac Copy lease provides for both short- and long-term needs and even specialty uses so your team is assured of having the right equipment for the job at hand.
Discover the flexible terms and cost-savings an equipment lease can offer. Contact a Mac Copy representative now and be better prepared for business in the coming year.