Kitchen equipment, retail fittings, office essentials; all things that cost money but are essential to the running of your business. Committing a sizeable chunk of capital to these items is not always feasible, but buying substandard equipment only to replace it later isn't a valid solution.
New businesses are vulnerable to a whole host of issues on startup, many of which can be prepared for and many of which, despite the best will in the world, can’t. Being ignorant of your financial situation or unwilling to keep cash in the bank leaves you ill-prepared should any surprises crop up. It's necessary to have the capital free to deal with any issues should arise.
Epos Now CEO Jacyn Heavens reflects on his time running a busy city centre bar; “One of the key things thing I learnt during my time as a bar owner is cash is king. Sometimes the worst does happen; there's a plumbing issue, the premises gets damaged, orders are delayed or stock costs are more than expected. You need the revenue to front these costs while sustaining normal business operations, or it can spell disaster for small business owners.”
There's been a growing trend in recent years to utilise leasing as a means to retaining good cash flow. In fact, more than 80% of the Fortune 500 companies lease some part of their equipment to protect the accessibility of their capital. Leasing affords you this freedom, as well as preserving other lines of credit for when you need them most.
Unlike bank loans, leasing agreements also have the benefit of being 100% tax allowable against your pre-tax profits. This is another great way to cut costs and protect profitability. Fixed payments also mean a dependable outflow, allowing you to budget ahead and protect your future cash flow.
Like photocopiers, furniture and dishwashers, an EPOS system is an essential tool in your arsenal when setting up your business. Epos Now understands it’s not always easy to raise the revenue required to purchase your system outright, which is why we are offering prospective customers the opportunity to lease an Epos Now solution to spread the cost across a period that would suit you.
An Epos Now system protects the profitability of your business, and can be the difference between success and failure to a fledgling business owner. If you would like more information on the flexibility and benefits EPOS finance can afford you, check out our lease calculator here.