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(BPT) - For owners of small- and medium-size businesses, there are so many elements to be handled that finances often do not get the attention required to drive a sustainable and growing business. It is widely reported that 82% of small businesses shut down due to poor cash flow management, and CB Insights reports 39% ran out of cash or failed to raise new capital. This is especially tricky for businesses with company vehicles.
Business owners can tap financial tools and make strategic decisions to make running and growing their vehicle fleets more efficient. As demand for their goods and services increases, business owners can be better prepared to improve their fleets’ capabilities, productivity and efficiency while paving the way for growth.
These tips to evaluate use, budget and finance can help business owners manage their fleets efficiently and determine the right time and right additions for their company’s success and growth.
A good first step is to understand how a company’s vehicles are utilized. Just think MAST.
Understand the company’s fleet finances
One important job for business owners is identifying realistic budgets. Here are steps to help steer a company in the right direction.
Determine the best financing options
Next, business owners with fleets need to examine the best financing for their budgets — and for the long haul. Here are a few things to consider.
Andrew Comrie-Picard, the founder of ZipTire, a Los Angeles–based mobile tire business, is a customer of Ford Pro FinSimple, which provides easy fleet financing for small- and medium-size businesses. He says, “I financed my first truck through Ford Pro FinSimple financing. And now as we’re growing, I’m really excited to work with Ford Pro FinSimple in order to build out our fleet, get more vehicles and to be able to upfit them.”
Find a commercial-centric partner
When shopping for a new fleet, it is important to find a dealership that will partner with you throughout both the purchasing process and the life of your vehicle.
To learn more about how Ford Pro FinSimple can serve as a resource for commercial financing needs, please visit https://fordpro.com/en-us/financing/?bannerid=MAT_release_fin_CLOC.