When it comes to counting costs for businesses that specialise in fleets, there are many routes one may take. Cost can be implied for vehicle breakdowns in the way of repairs conducted to get back on the road or can be calculated based on missed opportunities to deliver or engage with clients. Furthermore, costs can also be calculated on brand impact and implications due to breakdowns. When it boils down to the bottom line, breakdowns in the UK cost businesses in the bank as well as in market share.
So, your business has made the exceptional decision to grow a fleet of vehicles to help deliver the vision and strategic initiatives implemented. Now it is time to decide on how to finance your fleet and get to action on serving the needs of your organisation. It can be somewhat challenging to know where to turn to when it comes time to begin financing your fleet of vehicles, so this article will be geared at helping to explore several options of financing to help you better meet the needs of the specific business environment and financial structure upheld by your growing company.
The importance of proper fuel management and developing an effective fleet fuelling programme is essential in providing an overall successful business fleet. Recent studies have indicated that over 1.5 percent of a business fleet’s fuelling budget goes to theft, and of that rate, 81 percent of fuel thefts are from a company employee with the remaining percentage being sources from outside siphoning of fuel or improper authorisation of a fleet fuel card.
The good news, as we look forward to the remainder of 2018, is that estimated fuel costs throughout Europe for both gasoline and diesel have an outlook for decreasing throughout the year by approximately 2 percent. However, fuel costs are on the same playing field for every organisation operating a fleet of vehicles, meaning that it becomes critical to identify competitive advantages in reducing overall costs and improving productivity. So, how do we now become more efficient and reduce your fuel costs across your fleet to help become the leading organisation among your competitors? The answer is defined by the following categories: vehicle tracking technology and reducing lifecycle costs.
Predictive maintenance of fleet vehicles has become more essential as cost-saving measures with a focus on overhead expenses become more and more critical, with emphasis on the bottom line. Servicing your fleet vehicle on a regular basis as well as having predictive technology built in with each vehicle will be a critical step in keeping your organisation competitive with the leading industry.
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.
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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.
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