Should Your Company Buy Or Rent IT Equipment?

1. Should Your Company Buy Or Rent IT Equipment? There a several factors a new company owner must think about when starting up, besides staffing and location – such as the cost of office equipment. Do you hire it, or buy it? Both choices have disadvantages and benefits. This article will uncover what alternatives will suit you best. With a new business, the decision comes down to the need vs the budget. Even though most businesses can gain from having the most innovative technology to set them apart from their rivalries, it can become very expensive. Most companies are now considering hiring their equipment from reputable renting companies. Not only will they benefit from the latest ground-breaking equipment and technology, but they will pay a small percentage of the price. It is a known fact that technology changes continuously. The iPad that you purchase three years back might be outdated by now. However, when you are renting your equipment the financial weight of out- dated technology becomes the problem of the hiring company. So, renting office equipment or even computer equipment for events, will save a company money in the long run and give them access to state-of- the-art equipment. Also, when you are hiring computers, laptops, iPads, servers and video screens from a renting company, it already has a support service that is built-in. Normally as a business owner, you would have to employ someone to render support when purchasing new telephones, printers or servers for the workplace. Furthermore, when hiring your equipment, it includes maintenance, service, and installation. Yet again, this reduces your capital cost drastically. When you employ temporary staff on a regular basis, why buy a new iPad or laptop. As a business owner, you and your temporary employees can benefit from short-term technology by hiring the necessary equipment. Not only does it cut expenses, but it also gives your temp access to the latest technology. Renting office and IT equipment for short periods of time can be a successful solution for your business in a temporary and specific scenario. However, the longer your rent it, it might become expensive in the long run. But, if you now renting will benefit your business, you know you require the specific equipment and you have a fixed budget then why not hire? There are a few factors that can help you to decide to lease or by your equipment. If your requirements are small, you can get a low-interest loan or have the money; then just buy it. However, if you start up a small company and need to purchase 5 computers and 3 iPads, it will be more cost-efficient to rent for a short time, than buying everything at once. At the end of the day, whether you buy, or rent is all up to you and based on your business circumstances and needs.

2. From the beginning, owners must make a choice if they want to purchase servers, monitors, computers, and printers. It is all up the owner to hire equipment when needed for events or on a month-to-month basis to keep costs as low as possible. It’s not easy deciding since there are several factors that need to be considered. The most important factors are the budget constraints and the needs of the company. Renting a laptop over a 1-year period will work out a fraction cheaper than buying it brand new while renting the latest iPad will cost you three times the retail cost over the same period. With hiring and renting, both shave advantages and disadvantages. As a business owner, you need to do your homework. With the knowledge of what owning vs. renting involves and the drawbacks, there is cash to be saved; it’s all just a question of how each model meets your needs. About Us As a provider of short-term AV hire and computer services, Hamilton Rental has made a stellar reputation in helping businesses manage their IT assets and meeting their temporary technology demands. Since inception in 1972, the company provides customers access to a comprehensive and enviable fleet of IT and AV equipment, event management services and a range of inventory management solutions. With a team of highly skilled specialists, you can rest assured that our broad range of services will help you manage your business’s technology estates and meet your business demands. For further information visit https://www.hamilton.co.uk/.