The latest Wells Fargo/Gallup Small Business Index indicates U.S. small-business owners plan to spend less on capital in the next twelve months than last year or the year before. As we recently reported, small business credit is steadily improving. The Gallup survey results support our theory that small businesses who survived the recession did so by reigning in expenses, including capital spending. It’s no surprise they are reluctant to go on a capital equipment spending spree any time soon.
So how will small businesses grow without taking on new debt for capital purchases? Some will find a solution in leasing, including many who already turned to leasing equipment when credit sources were scarce and business forecasts were cloudy.
Equipment leases can be a viable way for businesses to acquire needed equipment on a long-term or short-term basis, and to avoid a potential slump in the equipment’s value in a turbulent economy. By leasing needed equipment, small business owners can maintain production while easing into equipment ownership a little at a time.
The attorneys at the Scolieri Law Group, P.C. provide cost-effective legal advice for all aspects of managing your business, including reviewing and structuring equipment leases for owners or lessors.
For more information about growing your business, contact the attorneys at the Scolieri Law Group, P.C. Located in western Pennsylvania, our attorneys are experienced in Pennsylvania business law and can take care of the details for you every step of the way. Contact us today at (412) 765-0546 or via email at firstname.lastname@example.org.