The environment should be at the heart of your company. The business world has an enormous impact on the environment. Think about the environmental cost of running your office, manufacturing processes and transportation. Small changes can make a huge difference to your business’s environmental impact.
The younger generation is becoming increasingly eco-conscious, and they are keen to invest in eco-friendly companies. Electric cars are a fantastic way to incorporate eco-friendly practices into your business. You can save money, energy, and your business’s reputation. The pandemic is starting to dwindle, but climate change is an ongoing global crisis that needs to be addressed.
Here are a few reasons why you need to invest in an electric car for your business.
They are cheaper to run
Traditional cars cost twice as much to run as an electric ones. It’s as simple as that. There is currently a petrol crisis in the UK due to a shortage of drivers in Europe. You don’t need to queue outside of petrol stations with an electric car hoping to get fuel for your vehicle. You can charge it at home and save money.
It’s also much easier to maintain an electric car because they have fewer moving components. There are other costs, like installing a charging port into your home, but it will save you money in the long run.
Reduced tax liabilities
Seek professional advice on the tax benefits of electric cars and improve your business’ monthly cash flow. Business owners with electric cars can enjoy zero tax through Benefit in Kind. You can also have 100% of capital allowances in the first year and deduct the full cost through your pre-tax profits. Genius!
You don’t need to pay road tax either. Unless your vehicle is over £40,000, you will need to pay a reduced additional road tax bill of around £325 a year. Don’t worry; most electric cars come under this bracket, so you can avoid road tax altogether.
You don’t have to pay the congestion charge
Congestion charges can get very expensive. Fortunately, electric car drivers don’t have to pay it, and you can save even more money. For example, in London, the Congestion Charge Zone is £15 a day, equating to £5,475 per year.
Good for your company’s reputation
The younger generation is keen to invest in companies that support the environment. They are looking at your business values, processes and suppliers. If you switch to an electric car, let your customers know. Eco-friendly practices can improve your business’ reputation and provide access to an entirely new market.
Reduce your company’s carbon footprint and try out an electric car this year.