Small businesses are booming — it’s a fact. There are more new companies and tradesmen starting up now than at any point in history, and that is something which has made its ripples felt far away from its base. Take, for example, the commercial van market. If you take into account the number of new plumbers, electricians, builders and other businesses suddenly appearing on the market, it’s clear to see that they all need vans to carry out their daily work.
Of course, it’s not quite as simple as a van being a van. From small vans no bigger than your average hot hatch, right the way up to long wheel base Transits and Luton boxes, there are vans to suit every requirement and business type. A beautician, for example, who only needs to carry around small supplies might well be best suited to a relatively inexpensive and economical Mini or Fiesta van, whereas a removals company or couriers are more likely to use a Luton box or long wheel base transit. It’s all about matching your requirements to what’s available on the market, and the market has certainly got something to match what you need.
For small businesses, the outlay of buying a van can be incredibly scary. Fortunately, there are a number of financing options available including leasing a van. This can help to spread the cost and limit your liability and outlay, by leasing the van instead of purchasing it outright. There are also the usual finance deals available which you’d expect to find on cars, and many of these are very generous at the present moment due to the government trying to give more and more support to small businesses. As a result, the banks and finance companies are being incentivised to provide generous finance offers to small business owners and sole traders looking to buy a new commercial vehicle.
It’s not just size which needs to come into account, though, as many different things will affect the cost in the long run. For example, the engine size of the van can be critical in terms of road tax, insurance and fuel costs, with these overheads eating into any business’s profit margins if they’re not careful to manage them effectively. As a small businesses, your ability to get from A to B quickly and efficiently is at the forefront of your chances of success, and balancing that with the costs involved is something which needs to be carefully considered when buying a new van.
With smaller vans generally being more fuel efficient, it might be seen as fairly obvious that it’d be best to get the smallest van you can which will fit in everything you need. However, that’s not always the case. You’ll need to take into consideration your business’s scope for growth. If your business grows and you need to carry more items, it’ll be far more cost effective to already have a larger van which can accommodate them, as opposed to having to get rid of your small van and go through the hassle of having to buy another, larger, van.
Planning ahead is absolutely vital when buying a commercial vehicle, and it’s good to know that you’re not alone on that journey. The Guardian Small Business Network has been set up to help small business owners get advice which could help them in starting and growing their business, including the purchase of a commercial vehicle. Why not register today?