Deciding whether to rent or purchase office equipment can be a tricky decision, especially for startup businesses. Do you commit to a larger up-front cost and buy all the items you need, or pay less money initially but more over the longer-term?

We believe that leasing equipment can have some distinct advantages for new businesses, and could be an important factor in helping your company survive the first few months of trading.

Here is our guide to the 3 main benefits of leasing office equipment:

Preserve budget

New companies need access to quality equipment, but often do not have the means to finance it. Kitting-out a full workplace is likely to run into tens of thousands of pounds, so why not try before you buy? Leasing equipment gives you a chance to assess whether it is actually a necessity for your business or merely a vanity project - trendy meeting room's may sound like a good idea, but if they are only used twice a month why go to the expense?

Preserving budget at the start-up stage is one of the wisest things you can do. Unless you have serious capital behind you, leasing furniture and equipment can be a great choice to make.

Access to better technologies

Leasing companies offer high-quality equipment incorporating the latest technologies. This can be a major advantage when it comes to improving business performance and productivity levels.

Newer IT equipment, computers, and printing machines will run quicker and more efficiently than products that are several years old. This can save your business time and money, as you will complete tasks quicker, and experience less 'machine rage' - helping to keep staff morale high!

Access to good quality furniture also brings workplace benefits. By leasing, you will be able to use ergonomic chairs and desks. These take care of your employees posture, and are a vital component of a company wellness strategy, leading to lower levels of sick leave and disruption.

Prioritise marketing

As a new company, the main emphasis is to survive, and this can only be achieved if people know who you are and what services you offer. In short, marketing is key - not purchasing a ton of expensive office furniture.

Leasing equipment frees up money to advertise your business more effectively, and has the added benefit of making your office look professional (any potential clients will be more impressed visiting a workplace with the latest technologies on show).

It also means that more focus can be given to the décor and atmosphere of a building - renovation works should always be considered before splashing out cash on equipment and furniture you really can't afford.

Of course, equipment leasing may not be for everyone. If you are planning to work out of a small office, then purchasing may be the more sensible option. However, for those companies that are planning to accommodate numerous employees, leasing is the better start-up choice.

- Pall Mall Estates have a wide range of low cost commercial properties across the UK. Take a look at our available spaces here or get in touch with our experienced team here.

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