Blog

DO YOU KNOW THE CURRENT MARKET FOCUS IN LEASING BUSINESS?
April 2, 2018
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| Lease Marketing

In the recent times in the leasing business, there is a gradual shift from finance leasing to operating leasing in Nigeria, partly as a strategy to mitigate default risk and in response to market dictates especially to meet the demands of corporate clients. This was revealed through a recent survey conducted by the Equipment Leasing Association of Nigeria (ELAN), and also that operating lease is growing at a faster rate. Operating Leases (leases intended not to own the asset…

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HOW TO IMPROVE LEASING BUSINESS CLIENTELE BASE
April 1, 2018
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| Lease Marketing

Having a good customer base is very important to all business transactions. Changing a   prospective lessee to a customer and retaining him requires a whole lot of systematic approach, appropriate intelligent gathering, planned programme of actions on your part as a lessor (owner of an asset). A specific time should be set aside each week for prospecting with a catchy corporate message on why leasing is the most appropriate form of financing for the prospective lessee. It is important…

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HOW TO MANAGE YOUR DRIVERS IN OPERATING LEASE
March 28, 2018
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| Best Practices

The success of operating leases (leases that the lessees do not intend to own the asset at the end of the lease) where vehicles are the assets involved, depends on variety of factors and most essentially the driver. Therefore it is important to fully understand how to manage drivers in operating lease business and let them to know the value of the asset entrust to them as well as the level of responsibility the management expects from them. .The…

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HOW TO INCREASE YOUR YIELD AND PROTECT YOUR PORTFOLIO THROUGH ADVANCE RENTALS
March 27, 2018
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| Lease Advice

A lessor (owner of asset) can take a number of the rentals at the beginning of the lease and the others taken in arrears e.g. in a 12 month lease, the lessor can take 2 month rentals in advance and the remaining 10 rentals in arrears. One of the implications of this is that, the lease ends at month 10 thus mitigating the risks of running for the entire 12 months. Also, the yield in the transaction will increase…

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HOW EFFICIENT FLEET OPERATORS ACHIEVE SUCCESS
March 26, 2018
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| Best Practices

The success of any Fleet and Transport Logistics operations depends on the application of modern processes. Practitioners should therefore get themselves acquainted with modern key management ingredients to enhance profitability. This aspect of business is gaining more vibes and gradually becoming an investor’s delight. Factors that impede Success in Fleet Management i. Operational Environment { Deploying the right vehicle to the right job}. ii. Non Standardization of fuel and others.{Make use of fuel treatment organs + Select good filling…

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DO YOU DESIRE SUCCESS IN YOUR LEASING BUSINESS?
March 23, 2018
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| Best Practices

To succeed in leasing business requires consistent search for skills and techniques required for success. Succeeding with leasing provides the operators with template for lease practice and is designed to enhance professional development of lease practitioners. There is need for a broad-based education in leasing for all personnel, regardless of level of expertise or function, intended to facilitate better understanding of the industry and fundamental principles of leasing that are critical not only to the success of the organisation,…

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14 GUIDES TO SUCCESSFUL FLEET MANAGEMENT OPERATIONS
March 22, 2018
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| Best Practices

The fleet business will succeed when the following guiding principles are put in place: Fleet Management companies must have a clear cut Fleet Management Policy. This function must not be outsourced. It is the rules and regulations that guide fleet operations. The policy will provide clear directions in terms of fleet management, fleet management responsibilities, mode of financing, direction on maintenance, driver management and self drive policy, insurance, de-fleeting and re-fleeting. It will facilitate and encourage accountability, monitoring of…

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ELAN JOINS LAGOS CHAMBER OF COMMERCE AND INDUSTRY (LCCI)
March 21, 2018
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| Latest News

ELAN JOINS LAGOS CHAMBER OF COMMERCE AND INDUSTRY (LCCI) In pursuit of its objective of promoting the business of leasing in Nigeria, Equipment Leasing Association of Nigeria (ELAN) has continued to strengthen partnership with the organised private sector and recently joined Lagos Chamber of Commerce and Industry (LCCI). This is to further the Association’s value proposition, increase robust business networking/references and enhance the visibility of the leasing industry. It is our mandate to continue to make equipment leasing the…

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TAX IMPLICATIONS OF LEASING IN NIGERIA
March 21, 2018
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| Tax

The Federal Inland Revenue Service (FIRS) adopted the treatment of leasing by the International Accounting Standards on Leases SAS 11, and accordingly classifies leases for tax purposes as either finance or operating leases, together with other variants of leasing such as leveraged leases, sale and lease back and sale – type lease. At this point, it is important to explain some general principles as background to the specific tax issues in leasing to be discussed. Capital Allowance granted in…

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UNDERSTANDING KEY ISSUES IN LEASE CREDIT ASSESSMENT
March 20, 2018
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| Lease Advice

As a lessor (the owner of the asset), leasing business can be sourced through the  following are the ways: By direct marketing of the Lessor’s services; the Lessor can approach a potential Lessee (the customer that needs the asset) for business; The Lessee initiating the approach to a Lessor for lease facility; Through sales-aid leasing whereby the supplier of equipment makes initial enquiries, and Through financial intermediaries e.g. brokers, consultants  acting on behalf of either the Lessor (owner of…

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