Small businsses vary in their needs more than other types of business. For instance, it is likely that a large corporation will not consider supermarket cards on the basis that they value discounted pricing more than in-store cashback offers. Likewise, for an individual, it is probable that the benefits offered via a supermarket card would outweigh those available from a comercial card (where a price discount may not be significant, if any).
Small businesses on the other hand may value each, pending their circumstances. They are however, highly sensitive to location - the right fuel cards for a small business must be located with close proximity to that business' operating routes.
Below is a list of several benefits available via fuel cards for small businesses.
Small business fuel card benefits:
- Potentially lower pricing & cash-backs from pump purchases
- No more missing receipts - claim back all your expenses and VAT
- Enables expenditure tracking and a better understanding of fuel consumption
- Straightforward admin and little paperwork, central management online without the boxes of receipts and invoices
- In certain instances, credit facilities that can improve your credit cycle for fuel payments
- The option of secured fixed pricing, no more expensive motorway premiums
- Online reporting that facilitates cost optimisation
- More convenient & quicker for drivers
- Lower risk of abuse and more secure than paying per mile allowances
Typically, the more miles you cover and more fuel cards that your business requires, the greater the savings off regular pump pricing are likely to be.
As a small business you'll need to consider more than just gross discount to find the best value though: pump price, available discount and collectable points* are all factors that will effect overall value.
Give some consideration to supermarket fuel cards, where discounts may be low (if any), but the lowest pump prices and discounts off store purchases are likely to offer a competitive option.
When exploring fuel cards for a small business, the localisation of your chosen pump network is important - how well does the network fit your routes? Availability of pumps at the far end of the country are likely valueless to you.
Many small business fuel card users find security & limit features particularly useful. Where a business has grown to require more drivers, it can be especially important to monitor routes, set limits and co-ordinate security too. Most cards can accommodate this. A further consideration on this note is whether you'd want a card that is eligible for other products; while this may be helpful for you, you might not want this facility available for all drivers.
Cash flow is also a key issue for small business owners - consider the credit terms on cards, which can vary widely, and might be useful when you need it. The fuelGenie card offers 45 days to pay.
Popular fuel cards for Small Businesses
*Tesco Clubcard, Nectar & Morrison's miles are all types of points that can be accumulated with fuel cards