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Company cars still key to small business’ investment plans

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Author: | Updated: 17 Aug 2015 18:01

Lex Autolease has produced new research showing that company cars still play a large part in the investment plans of small- and medium-sized businesses (SMEs).

The Business in Britain survey, which is conducted every other year, found that 76% of the 1,500 businesses polled plan to invest over the second half of 2015, while 9% are interested in investing in new company cars.

Skoda fleet 4x3

Perhaps unsurprisingly, the results were even more conclusive for transport firms, with 27% planning to lease or buy new company vehicles before the end of the year, but construction companies, as well as businesses involved in retail and healthcare, are not far behind.

Simon Barter, Lex Autolease’s head of SME, said: “It is encouraging to see that company cars and commercial vehicles remain a key part of investment plans for UK SMEs, particularly in the transport and construction sectors where the overall economic picture looks especially strong.

“As business confidence grows, companies are looking to reduce costs and streamline their operations in different ways to free up cash for growth. As a result, we are seeing an increasing number of firms consider alternative ways of managing company vehicles. As firms look to move depreciating assets off their balance sheets and avoid paying lump sums, we expect to see a rise in vehicle leasing over the next six months as companies make efforts to be more agile.”

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