Industries are increasingly turning to lenders for their equipment leasing needs. According to a new update to the Equipment Leasing & Finance Foundation’s 2013 Equipment Leasing & Finance U.S. Economic Outlook, software and equipment leasing is expected to increase by 5.6 percent this year. Indicators show growth will be especially strong in the healthcare industry. The foundation’s new forecast is a boost from its previous year-over-year expected increase of about 2.9 percent in the second quarter.
Although investments made in the first half of this year may be limited by fiscal uncertainties, the quarterly report forecasts more growth by the second half of 2013.
“On balance, we expect the positives to outweigh the negatives as businesses begin to feel more confident and ready to invest in capital equipment,” said William Sutton, the foundation’s president.
The credit market is forecast to continue improving as the economic recovery moves forward. As conditions begin to slowly improve, more businesses are expanding and in need of equipment. In addition, the recent construction boom and an improved manufacturing sector is expected to keep bolstering equipment leasing in the building industry, according to recent reports.
Having the right equipment is important for expansion, revenue growth and keeping the business running smoothly overall. Small business owners interested in obtaining an equipment lease may contact National Funding, an established provider in the equipment leasing industry, to find out what options are available to them.