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Four ways businesses can get the latest technology

With new devices issued by the major manufacturers at least once a year, it can be hard for small businesses to keep up with technology. There are, however, several ways they can get their hands on it without breaking the bank

1. Barter

While it might not be the first thing a business thinks of in 2014, bartering is a great way to save money on goods. According to the International Reciprocal Trade Association, business-to-business bartering is a £6bn global industry.

By exchanging a skill or product instead of money you may be able to come to an arrangement with a retailer or manufacturer, provided what you have to offer is of an equivalent value.

It may be worth, considering a wider barter rather than a direct swap. By including numerous businesses you’ll find others who might have more use for your goods or services, and who in turn may be more appealing to the companies you’d like to barter with.

2. Lease

Many companies, including O2, now offer small businesses the opportunity to rent technological devices.

O2 Lease is a tariff designed exclusively for businesses, from a sole trader to a company with a handful of employees. There are no upfront fees and with competitive monthly payments, businesses can stay in control of their cash flow.

In addition to the latest devices you’ll also get the support of O2 Business Gurus and a customer service team throughout the 12-month contract.

To find out more, visit O2 Lease and explore the latest business-ready smartphones and tablets.

3. Credit

Many organisations now let both consumers and small businesses buy technology on credit. Whether you’re buying from a high street retailer or direct from manufacturers, provided you pass the relevant credit checks, you’ll be able to purchase goods on a low-interest or interest-free payment plan. You should be able to choose between a monthly payment plan and repayment in full by a certain deadline.

4. Equity exchange

While giving away equity shouldn’t be undertaken lightly, exchanging equipment for a share of your business can be beneficial if you need to invest a lot in new technology for a prolonged period of time. Whether you’re kitting out a new office or upgrading the software across your business, by offering a small percentage of equity you can receive continued support for your business.

 

This page contains general interest information only but does not constitute legal advice.

Articles are written by independent journalists and do not necessarily reflect the opinion of O2.


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