Leasing boosts SME competitiveness, new BDL study finds

Leasing has become a key strategic tool for small and medium-sized enterprises (SMEs) in Germany, helping them remain competitive and invest confidently – even amid economic uncertainty. That’s the central finding of the new “Leasing in Germany 2025” market study, conducted by the Gesellschaft für Innovative Marktforschung (GIM) on behalf of the Bundesverband Deutscher Leasing-Unternehmen (BDL).

The study, based on interviews with 750 financial decision-makers from a broad range of SME sectors, highlights the growing role of leasing in corporate investment strategies. Sixty percent of medium-sized companies now consider leasing as part of their investment planning, and 82 percent of those ultimately choose it, marking a new record.

Strategic tool for transformation

“Especially in challenging economic periods, leasing allows companies to remain agile and invest in critical areas like digitalisation, sustainability, and innovation.”

According to the study, leasing is now the second most important source of investment financing for SMEs, behind only internal cash flow. Notably, 81 percent of surveyed companies say leasing is essential to maintaining operational agility, while 74 percent view it as a prerequisite for realising major investments.

Liquidity protection in a post-Covid economy

The pandemic has fundamentally shifted SME investment behaviour, with 65 percent of companies now more focused on preserving liquidity. Leasing, which doesn’t tie up capital like traditional purchasing, is increasingly seen as a way to balance financial prudence with the need for innovation.

“Leasing protects liquidity and supports strategic resilience,” noted Ostermann. “In many cases, it is the only way for SMEs to pursue meaningful investments while remaining financially stable.”

Tackling the skilled labour shortage

Beyond financing, leasing providers are increasingly supporting companies through value-added services such as maintenance, repair, and damage management. These offerings are particularly relevant amid ongoing skilled labour shortages: 58 percent of companies say these services free up resources, while 65 percent cite them as a key factor in choosing leasing over other options.

Partner in transformation

The study shows that 59 percent of SMEs have already initiated or are planning transformation projects – primarily in areas like electromobility and IT infrastructure. Of these, 65 percent are financing their efforts through leasing. Only retained earnings are used more frequently.

The risk of falling behind

Despite growing momentum, 25 percent of surveyed SMEs have yet to undertake any transformation-related investments. Fifteen percent of them see no pressing need for digitisation or sustainability initiatives – prompting warnings from BDL leadership.

“These businesses risk missing out on future competitiveness,” Ostermann cautioned.

Call for subsidy reform

A significant obstacle identified in the study is the structure of public funding programs, which often exclude leasing due to ownership requirements. As a result, 88 percent of companies call for equal treatment of all financing models in future subsidies.

“To accelerate the transformation, we need policy frameworks that support all effective financing options – not just traditional ownership models.”

Why SMEs lease

The top reasons SMEs turn to leasing remain consistent: keeping equipment up to date, maintaining liquidity, ensuring cost predictability, and retaining flexibility through end-of-contract options. A new factor has emerged in the top five this year – the demand for tailored financing solutions – highlighting the trend toward individualised, strategic investment planning.

“Leasing today combines financial control with operational agility and strategic foresight,” Conen concluded. “It’s not just about cost – it’s about building long-term competitiveness.”