Top 6 benefits of using your business loan on furniture for your office

Advantages of using your business loans on furniture for your office

Business loan is a debt received from bank or micro lending institution with an intention of expanding or for business growth. Several benefits are associated with loans in the business entity.

1. The first benefit is that business loans are a source of financing to the business. The business acquires funds for expansion at the required time. Purchase of furniture which is assets for the business improves the asset ratios and the turnover ratios of the business. The activity sets good credit information if the loan is repaid successfully within the required time.

2. Office Furniture in a business entity is not tax deductible and therefore provides an opportunity to avoid tax.

3. Benefits from tax shield. Profits are taxed after interest deductions; this provides an avenue for tax evasion through tax shield. Tax shield prevents the total profits from taxation at the time when creditors for the business are not paid their due. It is calculated by (1-t) I. where t is tax rate and I is the interest rate.

4. Having bought the office furniture through loans meant for business expansion will lead to a double tax evasion since the furniture are not tax deductible and also in the tax shield avenue due to loan.

5. Benefit from the depreciation capital allowance. A business entity’s profits are taxed only after the depreciation allowance has been made. Office furniture is asset that loses value due to depreciation. Allowing for depreciation provides an avenue for avoiding tax. The more the tax avoided means more profits for the business.

6. Taking advantages of cash discounts. Business loans provide availability of cash which was not present in the business. The business may decide to take advantage of cash discounts on purchasing furniture on cash and later deal with payment of interest and the principal. This is done especially when the opportunity cost of taking the loan is lower than opportunity cost of not buying the furniture.

What are the advantages and disadvantages of working from home?

There are certainly many advantages of being able to work from home, however there are also some disadvantages. In the end it comes down to whether it is beneficial to the individual. Here is a list of the possible advantages as well as the disadvantages of working from home.

The Advantages:

1. It is often seen as an advantage because people can obtain a more flexible work and life balance.
2. It is an ideal opportunity to remain in the work force but with having the benefits of being at home.
3. You can save money. No longer having to pay out for transport, parking or a uniform. Also in some cases it may even be possible to save on childcare. Also, for example if your child is taken ill, you do not have to miss work.
4. You can work when you want. There will still no-doubt be deadlines, but there is a more flexible working day, as well you can work in an environment most suited to your own individual needs. For example, working in a brightly lit room, with the door open; you only have yourself to please.
5. There are obviously going to be less distractions around the home.

The Disadvantages:

1. It can be isolating and lonely as here are no colleagues to talk too and no meetings to attend.
2. Different distractions do arise from working at home. There may be interruptions from your children or neighbours. In addition to this it can be very difficult to completely separate work and home life. Therefore it can take a high amount of discipline and dedication to make working from home productive.
3. There is an increased chance that you could be looked-over when there is a promotion available. Other people in the actual office are a lot more visibly active than homeworkers. This does not have to happen though; make an effort to regularly visit the office.

Why a loan would help you when you get office furniture for your business

Getting the right office furniture for your business is important. Firstly, if you and your employees are working in an unsafe and unhealthy environment you are unlikely to be functioning at your best, and you might even be breaking the law. The right furniture will influence the way people work, by helping them to collaborate or operate privately as necessary. Secondly, the wrong equipment and layout is going to impair the efficiency of the business, if for example it is impossible to find and retrieve paperwork quickly. Thirdly, and crucially, the appearance of your office will be one of the most important factors in making an initial impression on clients and other visitors to your business.loan

So your office furniture needs to work for you and to look right, and you have to be prepared to budget for it. But the average business is unlikely to have the capital immediately available for such a big expenditure, and this is where a loan might be the best way forward.

With the repayments for a loan to buy office furniture factored into the budget, your business can start to gain the benefits of an efficient office environment immediately, and as good office furniture can be seen as a long-term investment the loan will be repaid well within the useful life of the equipment. The right furniture might even allow you to expand your business without the expense and disruption involved in moving to new premises.

Having a fixed repayment schedule and regular payments allows expenditure on office furniture to be incorporated into the business plan, and will serve to demonstrate the sound planning that has been applied to the functioning of the office. In the long run, it will probably be cheaper and more efficient to buy office furniture as one single investment rather than replacing items piecemeal when this becomes unavoidable. Current interest rates make this investment an attractive and viable proposition.

So if you need money in order to get office furniture and equipment for your business, then definitely take into consideration the benefits that loans can give you. You will probably find that secured loans will give you a better interest repayment rates, however you do run the risk of having to secure your borrowed amount against your assets. for bad credit loans with no credit checks

Top 5 office chairs for lumbar support

Most people working at a desk spend most of their day sat down and so a comfortable chair offering good lumbar support is essential. Picking a chair is not about purchasing the cheapest or most easily available, it is worth spending a little bit of time selecting the chair as it can have amazing benefits for your back. This list compiles 5 of the very best office chairs for lumbar support available on the market today.

The first is the Herman Miller Aeron is possible the most well known office chair for its ergonomics and the comfort it provides. The chair is however one of the most expensive available. The chair can adapt to almost anyone who sits in it, with foam padding and a woven mesh for extra support.office chairs

The second is the Herman Miller Empody, this chair was designed by the original designer of the number 1 chair, however it is more modern and focusses particularly on back support. The back can be adjusted and moved separately from the base and arms. The chair can adjust to a persons shape using pixelated mesh.

The third is the Steelcase Leap which is often much more affordable than many office chairs, it is sturdy and long lasting. The design ensures the whole back is supported and it features breathable foam to keep the person cool.

The next is the Raynor Ergohuman which was designed for people who have to sit at a desk for long periods. It is not very fashionable to look at but it does feature a wider seat and a taller back for improved back support in larger people.

The final chair in the top 5 is the Ikea Markus which is the cheapest of the top 5. It is however very comfortable and the curved design supports the back. The seat itself is quite thin and so inhibits the person sitting in the chair from slouching, which in turn improves posture.

New style office furniture vs Old style office furniture. Which is better?

Not so many years ago, the choices in office furniture were between what sort of wood finish you had, and where your metal filing cabinet went. However things have moved on rapidly in the last few years to the sort of workspaces in offices that wouldn’t look out of place in a spaceship. But is new office furniture any better than the traditional items it replaced?Office Furniture

Traditional office desks were wooden, often with a leather insert, with chairs on a metal frame with fabric seat. Filing cabinets were metal and were big and bulky. Boring, but reliable. However things started to change in the late 1970s and 1980s as furniture generally experienced a makeover, with the introduction of flat pack and the popularity of DiY. The rise of the home computer and subsequently the home office, meant people no longer had space for big wooden desks, even if they could afford them. Lighter materials were needed and chipboard and MDF became popular. Desk chairs were moulded from plastic and filing cabinets became smaller and more streamlined. Now your office could fit into the corner of the spare bedroom or living room.

Of course, for some, older style office furniture never went out of style, however the space needed for grand but bulky wooden desks is not usually found in most homes or in many workplaces either. Old style filing cabinets remain practical, though old fashioned office chairs have thankfully been left in the past, replaced by modern interpretations of the leather swivel chair. There is still a place for more old fashioned office items – though of course it needs to be a larger place than that for new style furniture, which in general is more suitable for modern living. Compact, lightweight and cheap, it can be changed as styles and space change. Old versus new – it really all comes down to choice.