Regardless of industry or business size, technology-based
equipment-computers, multifunctional devices, fax machines,
copiers, phone systems-is a must-have for practically every
business. The high price of technology equipment usually prevents
most businesses from purchasing it outright, and many entrepreneurs
aren't interested in spending enormous amounts of money for
equipment that could become obsolete in just a matter of
months.
In Dennen's case, leasing offered more flexibility than a
loan. Loans are certainly the way to go if you want to eventually
own the equipment and are comfortable with the in-depth approval
process and down payment required. But considering the twists and
turns businesses are bound to experience, having to make loan
payments on equipment you don't use anymore when your business
changes is the last thing you really need.
Originally published in the January 2001 issue of Entrepreneur Magazine
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