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As a small business owner, you'll probably need some type of equipment, whether it's office furniture, a computer system, or, for some, perhaps even some heavy manufacturing equipment.
For any equipment, the process is the same:
- First, you'll have to determine what you need.
- Next, you'll have to determine how best to acquire it (for example, whether you should buy or rent).
- Finally, you'll have to determine how to install it and maintain it.
Leasing your equipment. If you decide to lease your equipment, you'll have to enter into a lease agreement. Since a lease agreement is a legal contract, you should consult with your attorney before signing the agreement. Equipment lease agreements vary depending on the situation, so compiling a list of every issue that could be addressed by such a lease isn't possible. However, you can become familiar with the provisions found in most equipment leases.