The outbreak has been a defining moment for the way businesses operate. Learning to adapt to new ways of working and reaching the customer. From restaurants offering take away services, or distilleries shifting to manufacturing sanitising products. It’s not only the core of the business operating environment that has changed – but going forward how will business recovery look?
When the world reopens, businesses may need new equipment to stay competitive and adapt to the renewed demand. Flexibility is key in times like this and leasing equipment over buying outright may be the only option available for many businesses
Asset finance a vital resource
Kilkelly, head of research and chief economist at the Finance & Leasing Association discusses the asset finance market. With the initial overall fall in the market in February 2020, there was an increase in demand for IT equipment, plant and machinery finance sectors.
There will undoubtable be a slow down during the lockdown, and goes on to explain;
“The asset finance market, as in previous crises, will play a vital role in helping SMEs and larger businesses recover.”
Embrace the change
More than ever leasing may be the only way forward for many businesses. Cash flow will be an important focus for many months and years to come, and keeping the vital resource in the business.
GRENKE is here to support businesses of all sizes. Read more about how you can work this into your business recovery plans here.