ODO News

Don’t let invisible risk and costs rise as you increase your grey fleet

Last year according to Companies House, there was record 660,000 new start-up businesses formed, up from 608,000 in 2015. A total of two million new Small Medium-sized Business (SMB) UK firms have been established since 2000 and UK business failures are also falling – roughly 15,000 each year close their doors. SMB numbers and growth is such that Centre for Economic & Business Research (CEBR) estimates that by 2020, 27% of total business contribution to the UK’s GDP will come from the UK’s small and micro business employing less than 50 people each.

What’s interesting about these numbers is the increasing percentage of SMB employees who do not have company cars but use their own vehicle to do their work. Many will get a cash allowance from their employer to buy their own car for work. Others simply use their existing private car. 

Work platforms must be prepared for new grey fleet

Over the last couple of years there has been increasing unease about the self-employed status of most of the 1m UK-based gig economy workers, many of who are dependent on specific ‘work platforms’ like Deliveroo or Uber for all (or nearly all) of their income. 

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