The Leasing Foundation has begun a second wave of research into how leasing is used within banks and businesses, which it intends to publish in April.
The Foundation’s first piece of research, ‘Redefining the leasing industry’, was published last year and consisted of forty interviews across the market but mainly on businesses that openly described themselves as in the leasing business.
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The first report stated that its research was to ‘…understand if products such as hire, rental, managed service contracts, subscription contracts and contract hire, many of which incorporate a significant amount and variety of services as well as equipment, are considered to be leasing.’
Derek Soper, Leasing Foundation chairman, said the second research project would prove more challenging as it would involve interviews across financial services that might not consider themselves to be involved in leasing activities.
Soper said: "The sectors we are looking at do not define themselves as "lessors"; are generally not members of the leasing associations and prefer to label their products differently from leasing.
"Managed service contracts, subscription contracts, hire, shared service contracts, amongst others are all in the mix. The sector is huge and mainly very large ticket items, dealt with in the main by the corporate finance or project finance departments of the banks, and not the leasing departments."
