The Year Ahead?
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With less than 100 days til May’s general election and signs of political uncertainty ahead, coupled with the weakening euro-zone economy, confidence across British business is facing a stern test.
Recent surveys show that firms have begun the year fretting about domestic political upheaval and the possibility that geopolitical tensions could escalate in 2015. Sentiment amongst UK businesses being fairly downbeat according to a recent Deloitte poll of finance chiefs at Britain’s biggest companies.
The rise in popularity of other parties has lifted the prospect of a hung parliament. In fact, of over a dozen bookmakers, not one is prepared to offer odds on another hung parliament – the best we could get was 3/10. So another term of uneasy compromise almost certainly awaits.
But compromise makes for concessions, and that might mean opportunities and support for UK fleets.
With the lowest fuel prices for five years, will prices continue to fall or is it only a matter of time before supply is balanced out and they go back up again? This, combined with even more efficient models hitting the market could make budgets stretch just a little further in the year ahead. But for businesses that allow drivers to take their vehicle home, HMRC are expected to monitor and audit UK businesses even more tightly to ensure mileage claims are accurate. Some hefty fines were levied in 2014 and there’s no reason to expect that to let up this year. Monitoring and reporting tools, such as Business Mileage Monitor could help here if you think you may be at risk.
Sage’s survey of small to medium size businesses revealed that 16% of the said they would like to be in a position to employ more people this year, in itself a statement of confidence. We can’t help with the recruitment, but we can help you make sure that if you get another vehicle on the road, you can fuel it at the right price, in the right places and get the detailed reporting to allow you to concentrate on helping you’re your business succeed.