Making More of the SME Fleet Opportunity

摘要

Of private sector UK businesses, 99.9% are SMEs, employing 14.4 million people. Their turnover of ￡1.6bn accounts for 48.1% of total private sector activity. It is a huge, often under-served marketplace, because dealers sometimes fail to understand its specific needs. It is also a rapidly growing market. In 2013 the SME market accelerated with the launch of some 102,000 new businesses. Whilst many of these businesses will have been small in scale, it is the combination of overall market scale and business size that represents such an opportunity. The majority of SMEs are classified as small, employing up to 49 people. This is an audience that has struggled to gain finance from other sources in recent times. It is also an audience which lacks time and motor finance expertise. They need to spend their time developing their businesses, not on sourcing vehicle finance. However, their scale often means that they are not attractive to fleet servicing providers.