If recruitment activity is an indicator of a
sector’s health, then the prognosis for leasing is good, providing
there are no sudden shocks ahead. But the road to full recovery may
not be entirely free of setbacks.
Go deeper with GlobalData
Recruitment firms report renewed
vigour in the jobs market for leasing, coupled with a continued
underlying nervousness.
Caution in the UK partly relates to
measures introduced in the recent Emergency Budget: the proposed
rises in VAT and personal taxation have introduced a degree of
hesitancy to both consumer and business finance.
And uncertainty about the outcome of
the Treasury’s Spending Review, due to report on 20 October, will
rumble on throughout the summer.
No-one can predict exactly how the
anticipated deep cuts in government spending will affect the
industry.
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By GlobalDataWill public sector deals dry up, or
will the focus on cost-cutting lead to more interest in
leasing?
Cancellation of national building
programmes like Building Schools for the Future will certainly
reduce volumes in construction.
Cuts to local authority budgets could
dent fleet business, and transport budgets are likely to shrink
too.
The recent wave of consolidation
within UK and European leasing, prompted by the banking crisis, has
also underscored the feeling of instability, as companies have
re-organised and the market has restructured.
And yet candidates are beginning to
look about, perhaps with the feeling that they have been sitting
tight for long enough.
The first signs of recovery have been
enough to get people brushing up their CVs and considering a
move.
The overseas opportunities for UK and
European professionals with knowledge of lease financing,
particularly in Asia, may be among the most exciting.
Many industries will look to
international markets for growth over the next few years, and
leasing is among them.
With barriers to movement of labour
and to communication disappearing all the time, the reality of
being in a globalised economy is crystallising. UK and European
lessors look robust enough to survive and thrive.
Asset Finance Awards 2010
The Leasing Life Asset Finance Awards
2010, sponsored by CHP Consulting, will be awarded at the Grand
Visconti Palace in Milan on 4th November.
There’s still time to nominate the lessors you
think are best in category. For more information visit the
Leasing Life website and click the events tab, or email
leasingawards@vrlfinancialnews.com.
The deadline for nominations is
Friday, 6 August.
This year’s categories are: Captive
Finance Provider of the Year, European Lessor of the Year, Green
Lessor of the Year, Innovator of the Year, Italian Lessor of the
Year, Public Sector Lessor of the Year, SME Champion of the Year,
and Vendor Finance Provider of the Year.
We look forward to seeing you in
Milan.
