Scaling Up? Computer says No!

blur close up code computer

Photo by luis gomes on Pexels.com

New research, has found that 49 per cent of UK businesses think that a lack of equipment has hindered their ability to scale up.

The research,  conducted by Atomik Research on behalf of Shire Leasing involved a survey of 250 office workers who have equipment purchasing responsibilities.

Nearly all (85 per cent) of businesses claimed a lack of equipment hindered them from working at a proficient pace. Even more shockingly, 41 per cent of employees say this affects their working ability every week.

When asked how they have overcome this issue, only 16 per cent of businesses said that they have leased business equipment through finance, yet the top issues with purchasing equipment were keeping up with new innovations in the market (41 per cent) and cost of maintenance (31 per cent), which finance can combat.

Mark Picken, Shire Leasing’s CEO, says: “SMEs often overlook the alternative finance options that are available”

Regency have found that poor cashflow often means that investment in new equipment is put to the back of the queue when it comes to deciding where the the cash is best put to use within a business.  We can help with all aspects of cashflow with our financial products, through purchasing equipment and invoice finance solutions.

To discuss your options please do not hesitate to contact us on 0161 280 4220 or lynnew@regencyfactors.com