Many times in business, we put off upgrading our technology in lieu of financing other essential costs of running the operation. While there are certainly expenses more important than new computers or software (like paying your rent or paying your employees, for instance), investing in your technology is critical to maintain an efficient and functioning business.
What many business owners often fail to realize is that technology, just like your standard machinery or equipment, can be leased. Here are some reasons why you may want to consider leasing your next purchase:
You won’t get stuck with obsolete technology. By the very nature of a lease, you will not own it, which means that in the future you will not be stuck with a piece of outdated and obsolete technology. With a lease agreement, the lessor assumes that risk.
You can get it right now. Sometimes those brand new computers just can’t wait. When time is of the essence for productivity, you can’t always wait for the funds to be available. When you’re leasing the technology, you won’t have to put out a hefty upfront payment and won’t have to worry about immediately having the cash on hand. Also, you’ll have predictable monthly payments, so you won’t have to worry about surprise costs.
You’ll have a competitive advantage. Leasing the newest or fastest technology allows you to get ahead of the competition that might not have access to the same software. At the end of your lease, you are free to move on to the most recent release of the software, allowing your business to always stay ahead of the curve, rather than just struggling to keep up.
Have you leased any of your technology?