If the global Coronavirus pandemic were to have a single lesson, it is the importance of preparing for the unexpected; as the global economy restarts, the door is opening on a much-changed world that offers a wealth of opportunities, but also new risks.
The route to delivering asset finance growth in 2021 and beyond is reviewed in a new whitepaper, produced by specialist leased equipment insurance provider Acquis, which can be downloaded using the form below.
The report includes analysis of the economic performance of key countries that will drive recovery, including France, Germany, Italy, Spain, and the UK.
As businesses build a path to growth in this uncertain environment, asset finance will play a critical role, powering investment and enabling rapid deployment of equipment that will underpin the future profitability of companies.
However, the business landscape is quite different. The recovery will be uneven, with economic performance differing between nations, industry sectors and individual companies.
Traditional certainties built on years of customer data have been removed, as revenues in many industries have been devasted by lockdowns and trading restrictions, while others have seen unprecedented demand far beyond their normal trading levels.
Asset finance companies are seeing evidence of this unpredictable market, with some going from 40% of customers requesting forbearance at the start of the pandemic to a V-shaped recovery where there was record demand less than a year later.
As one senior asset finance executive said: “It feels like we are on a rollercoaster.”
Nick Leader, CEO of Acquis, said: “Despite the uncertainty ahead, the leasing industry has proven to be strong-willed and resilient. We know from speaking with our partners that they are eager – and well placed – to continue playing their part in the economic recovery.”
To download the report, complete the form below.