Startups and small businesses have various avenues to consider when it comes to acquiring office equipment and supplies. However, they often have limited means.
Since most small businesses have to make the best use of their funds and available resources, one of the ways of doing so is to opt for leasing of some office equipment.
A printer, for example, is a major office requirement but it can cost a lot of money if you want to purchase it upfront. But, by opting to lease an office printer, you can enjoy the benefits of a good printer at a lower rate.
Here are some of the benefits of printer leasing for a startup business, and the perks of going this route.
1. Easy Budgeting at the Start of Your Business
For a startup, every single dollar matters. Buying a new printer fitted with premium cartridges and printing in high-definition is not going to be inexpensive. However, that is the quality of printing you might require for your business to make a mark.
With a printer on a lease, you can get the most high-end printers at manageable monthly lease rates.
Most leases do not demand a down payment from a small business. You can use the money to upgrade other areas of your business ergonomics without having to compromise on the quality of printing.
2. Easy Repairs and Upgrades to Save Operational Costs
Once you purchase a printer, the entire responsibility of maintaining it rests on you. If you need to upgrade the printer in the future, you would also have to pay for that from your pocket.
However, leasing a printer gives you far better access to the latest technologies, about which the leasing company will update you. This is because while you lease the printer, its ownership still rests on the leasing company. They know that once the technology becomes redundant, you might not need their printer anymore.
You could consider upgrading to a laser printer from an inkjet printer. You know it is time to upgrade once you notice common printer problems like paper jams, skewed images, and ink smudges occurring frequently.
Once done, you can buy out the printer at the end of the lease period, or you could also consider renewing the lease.
3. Tax Benefits for the Business
Depending on where you are situated, you might have to pay extra taxes while buying office equipment because it is considered an investment.
However, when you lease the printer, you are not gaining ownership and hence, do not have to pay any taxes on it. This is another way that startup businesses can end up saving money by printer leasing.
You also get to enjoy some other benefits of leasing office equipment. The leasing company will provide you with a lease agreement you can use to claim tax cuts. Business and individual taxes are calculated differently, so your work printer lease will be far more effective.
By leasing office equipment, you can easily avoid huge upfront purchase costs, as well as reduce the day-to-day hustles of running a major office operation. The leasing company will usually check in from time to time to ensure everything’s working properly, offering support where needed and a good degree of peace of mind.
You could use the money you save from leasing to buy some other essential office equipment, or pay your employees a bonus to improve their morale.
Every bit counts for startup success, and leasing can play a big role in it.