Equipment
What equipment do you need?
It is a given that nowadays to run a successful business it is likely that you will need a computer or laptop; however, there is a whole list of other equipment you may need to consider.
That being said only look at buying the equipment if you really need it, not just because you think you need it. What I am saying here is be mindful, and ask yourself is it really necessary? If it is then shop around for the best price and buy from a reputable seller. If you are looking at a significant value of equipment, then consider ‘Asset finance’ which is covered in the funding section later on.
Equipment to consider:
Computer equipment
Sales equipment
Office furniture
Fixtures (e.g. for trade counters)
This list could do on and on, down to stationery supplies and a bin for under the desk! But create yourself a list of everything you NEED, not want, but NEED to get started, then go online and see how much each item will cost you, you can then plan on how you are going to pay for it all.
There is information about asset financing in the funding section but if you can get a time to pay type agreement over 3 years when buying items of a significant value then it would be worth it as long as the interest rate isn’t stupidly high. If you can get finance at an interest rate of less than 10% then currently (in 2021) that isn’t too bad a deal and it means you don’t have to find the money in full at the start.
Currently (Jan 2021), I know you can get finance at Currys PC World for your computer equipment. Also, some of the business furniture companies offer time to pay agreements too. So, look out for this as you shop around.
It is a given that nowadays to run a successful business it is likely that you will need a computer or laptop; however, there is a whole list of other equipment you may need to consider.
That being said only look at buying the equipment if you really need it, not just because you think you need it. What I am saying here is be mindful, and ask yourself is it really necessary? If it is then shop around for the best price and buy from a reputable seller. If you are looking at a significant value of equipment, then consider ‘Asset finance’ which is covered in the funding section later on.
Equipment to consider:
Computer equipment
- Additional computers for staff
- Printers
- Scanners
- Monitors
- Label printers (if dispatching products)
- Webcam for Skype/Zoom meetings (although most laptops now have webcams in them)
Sales equipment
- Cash register
- Card machine (there are now numerous options for this, even PayPal do one, so there is no excuse not to be able to take card payments from customers anymore)
- Barcode scanner
Office furniture
- Desks & Chairs
- Bookcase
- Lockable filing cabinets
- Boardroom table and chairs
- Kitchen supplies – e.g. kettle, mugs, coffee machine
- Reception chairs and coffee table
- Coat rack ??? !!!
Fixtures (e.g. for trade counters)
- Display cabinets
- Racking
- Storage containers
This list could do on and on, down to stationery supplies and a bin for under the desk! But create yourself a list of everything you NEED, not want, but NEED to get started, then go online and see how much each item will cost you, you can then plan on how you are going to pay for it all.
There is information about asset financing in the funding section but if you can get a time to pay type agreement over 3 years when buying items of a significant value then it would be worth it as long as the interest rate isn’t stupidly high. If you can get finance at an interest rate of less than 10% then currently (in 2021) that isn’t too bad a deal and it means you don’t have to find the money in full at the start.
Currently (Jan 2021), I know you can get finance at Currys PC World for your computer equipment. Also, some of the business furniture companies offer time to pay agreements too. So, look out for this as you shop around.
