Should you provide any of your staff – directors included - with a company car? Good question. Why? What's the need?

According to some research I came across from B2 Group, only 40% of those SMEs they surveyed provided company cars (B2 Business Voice business to business tracking study).

Fuel could become the highest pence per mile cost of running a company car in less than five years, says CFC Solutions.

The fleet software industry market leader points out that petrol and diesel prices have risen by roughly 50% in the last five years and there is every reason to expect that they will increase by the same amount before 2016.

The new advisory fuel rates (AFR) for company cars can be used immediately, although companies are under no obligation to do so until the beginning of January.

The new fuel figures replace those advisory rates which have been in place since the beginning of July, and generally increase the amount payable per mile for diesel company cars. The latest AFRs are tabled below and are based on engine size.

Having survived two recessions and read about many more, writes David Rawlings of www.businesscarfinanceltd.co.uk, I know that this industry is one of the most cyclical. Typically we all become depressive as sales slow and costs increase, then we toast our amazing foresight when residual values improve and interest rates fall.

So instead of ignoring or joining in with the doom mongers use the current financial situation to your advantage and enjoy the benefits of good fleet management.