When it comes to making important financial decisions in business that will impact the bottom line, the decision to finance a business vehicle over a direct purchase is at the forefront of every business owners’ mind. Additional concerns such as liquidity, long-range forecasting, and countless other thoughts begin bouncing around. Decisions in business should always be grounded on numbers, not on impulses, so it becomes vital to make strategic choices that will enable or contribute to the bottom line rather than detract.
No two business owners in the UK will have exactly the same experience when it comes to running their company, but there are some concerns that will be nationwide. Let's take a look at five problems that any and all business owners in the UK may be finding himself or herself up against.
The United Kingdom workforce is expected to receive a pay boost from April 1st when new National Living Wage changes come into effect. At last November’s Budget, the chancellor announced that the National Living Wage would increase 4.4% for those aged 25 or over. To help business owners understand what the changes will mean and how it will affect their bottom line we’ve compiled a quick and easy guide below.
With Valentines Day just round the corner here's 5 reasons why our customers love their RAM Tracking!
It’s the start of a brand-new year, which means 365 new possibilities for your business! As a fleet manager, have you thought about your business resolutions? What you can do to improve and run your fleet of vehicles more efficiently? Following on from the big changes last year, utilising new technologies, such as a vehicle tracking system, will be essential in helping you achieve this.
The Chancellor, Philip Hammond, had several key announcements during the latest budget, the most talked about being the tax rise for diesel can owners. For fleet managers and business owners this is likely to hurt the bottom line. It’s less than a decade ago that the government was encouraging business fleets to take on diesel fuel vehicles for their business operations. Now the government has done a full U-turn and the Chancellor’s diesel benefit-in-kind tax supplement is set to rise from 3% to 4% from as early as April 2018. This echoes recent speculation out of Whitehall that the government could in fact even ban diesel altogether in major cities from 2020. So where does this leave business owners with a fleet of diesel vehicles?
As of Monday October the 23rd, Mayor Sadiq Khan has introduced the new T-Charge to come into effect immediately as an effort to tackle the problem of toxic air pollution in London.
The use of dashboard cameras (aka dash cams or dashcams) is becoming more and more widespread in the UK. Motorists purchase a dash cam not only to capture idyllic scenery of their journey but also gain quality footage in case of an accident or road incident and protect themselves against bogus insurance claims. The evidence can then be sent either to the police or insurance companies to settle any disputes. The question that arises is whether dash cams are legal to own and use. As a relatively new gadget, things are a bit blurry in regards its ownership and usage because there are concerns that using one constitutes a violation of privacy laws.
Diesel was the dominant force in the fleet sector; until a short while ago, at least. And, things used to be so simple: most lorries and vans used diesel and most cars run on petrol engines. However, diesel has become a fuel under fire, especially considering the severely worsened air quality in British cities due to high NOx levels, among others, that are attributed to diesel transportation. Although the Society of Motor Manufacturers and Traders answered with a campaign that highlighted the environmental credentials of the latest diesel engines that meet Euro 6 emissions standards, great controversy still rages over this matter.
Vehicle theft is a multi-million-pound criminal enterprise, with fleet vehicles (and their contents) being the focus of those that wish to make fast money. In the UK alone, there were more than 76,000 police reported motor vehicle thefts, in 2016 alone (17 percent of the estimated 5 million incidents related to property crimes), but the number is steadily rising since 2012. Given that business vehicles are the lifeline of the entrepreneur, regardless how large or small the fleet, it is crucial you take all proactive measures necessary to help design a solid plan so you can protect your profits, employees, and, of course, vehicles.
- Benefits of Finance Business Vehicles over direct purchase
- 5 National Concerns that Affect the Business World in 2018
- One year later: How have income-based fines impacted business fleets?
- New National Living Wage Rates
- How will the clocks going forward affect your fleet of vehicles?
- 5 reasons why our customers love RAM’s vehicle tracking
- How can vehicle tracking protect against theft?
- New Year’s Resolutions for Fleet Managers
- Using your mobile phone whilst driving? You don’t know what you don’t know…
- Top 5 fleet vehicle technology trends