Financing a Small Business in a Downturn Economy?
Madison, CT (PRWEB) March 11, 2009
Turn on the television, radio, or visit your favorite news site, and you cannot avoid the darkening cloud of “Recession.” Service companies and stores are going out of business due to debt, insufficient cash, and bank denials on loan and lines of credit. “Cash poor” is a financial trap that more and more small businesses are falling into. In fact, 82 percent of new businesses fail due to cash flow problems.* In response to this, Shore Lease, LLC (http://www.shorelease.com) has just released a free report titled: “The Six Costly Mistakes When Purchasing Equipment.”
Shore Lease’s free report is a down-to-earth, easy-to-read document on how to navigate the purchasing options available to business owners looking to acquire new or used equipment. This report is essential for those who think that monthly payments and interest rates are the only things to consider when considering equipment financing.
Equipment leasing is a $ 598 billion industry. In fact, 8 out of 10 businesses currently lease. And companies with 1,000 employees use new and used equipment leasing twice as often as lines of credit and term loans combined.** Debbie Breen, owner of Shore Lease, LLC, makes the point that large corporations with a wealth of resources utilize in-house accountants to manage their equipment acquisitions. However, the small business owner, lacking an accounting department, no longer has to be at a disadvantage when purchasing new or used equipment. The Shore Lease free report introduces small business owners to large business cash-building strategies.
The free report is available on the Shore Lease, LLC website: http://www.shorelease.com.
About Shore Lease, LLC:
Shore Lease (http://www.shorelease.com/shore-lease/index.php) is an equipment finance company devoted to educating clients on how to operate at peak efficiency and profitability. They help businesses acquire anything from office furniture to industrial and agricultural equipment. The Shore Lease newsletter is full of helpful, upbeat business information geared to motivate the small business owner. In addition to the email newsletter, http://www.shorelease.com offers a wealth of resources, including leasing options, e-books, articles, financing, and tax information.
Debbie Breen, the owner of Shore Lease, LLC, has over 20 years experience in Accounting and Auditing. During this time, she was always astonished at the shoe-string budgets businesses were run on. Small business owners had equipment assets but no accessible cash. It bothered Debbie to see hard working business owners in these stressful and avoidable situations. Owners often did not understand the principles of liquidity and cash flow (http://www.shorelease.com/shore-lease/index.php?option=com_content&view=article&id=46&Itemid=54), and when advice was given, the damage was already done. Debbie’s experience has helped her clients avoid the many pitfalls of running and financing a small business. She is the “How to Lease Guru” for the Shoreline and beyond.
*Fact from Buzzle.com.
**Fact from the US Equipment Finance Study 07-08.
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