I am always a bit reluctant to make predictions at the beginning of a year, especially after a year like 2020. However, I am feeling good about the commercial equipment leasing and finance industry. There is plenty of optimism and energy throughout the industry. Below are just a few comments heard in the last 30 days:
The last quarter of 2020 was stronger than expected; new business activity is strong, and portfolios are performing well (better than anyone could have expected just 6 to 9 months ago).
The lessons learned in 2020 were significant and many originators and companies are well positioned going into 2021.
There are expectations that companies are better prepared to face new challenges, if they develop, in 2021. Professionals are confident, not hesitant, as we enter the new year.
There is an anticipation of pent-up demand for capital equipment being released in the next 12 to 18 months and steady growth being realized by well-positioned companies.
Several industry veterans recently expressed confidence that 2021 will be a growth year for the industry. More importantly, they are confident that the next three to five years will bring significant positive changes to the industry along with significant growth. It is a good time to be in the industry.
As I have mentioned many times, success in the commercial equipment leasing and finance industry is based upon efficiencies and data. 2020 required companies to become more efficient and for organizations to gather and react to real data. I am confident that many participants will continue, in 2021, to improve their efficiencies and use internal and external data for their decision-making processes. Predictive analytics ae being used to forecast future opportunities and challenges. These capabilities are allowing the best companies to provide superior services to end-users, vendors, and other business partners. The commercial equipment leasing and finance industry is moving forward and professionals are excited about the opportunities in 2021.
Wheeler Business Consulting works with banks, independents, captives, origination companies, and investors in the equipment leasing and finance arena. We provide training, strategic planning, and acquisition services. Scott Wheeler is available to discuss your long-term strategy, to assist your staff to maximize outcomes, and to better position your organization in the market.