Industry & Market News

Taxi firm offers free wi-fi

BUSINESS users can carry on working via the internet while travelling in a Green Tomato Cars taxi. For a busy small business, or consultant, this will make more effective use of work 'downtime'.</p><p>Green Tomato Cars, the ethical taxi firm which operates Toyota Prius hybrids, has just introduced free wi-fi access after a three-month trial. The company said it was important to meet the evolving needs of its customers.</p><p>The new service will enable customers to connect to the wi-fi service using netbooks, laptops and hand-held devices, such as the iPhone and BlackBerry.</p><p>Tom Pakenham, director of Green Tomato Cars, said: "Many customers spend a considerable amount of time in taxis - it seems only sensible that we enable them to make the best possible use of this time. We've already helped a number of passengers juggle the competing demands of working online while getting from A to B and we're looking forward to building on this experience as we roll out Wi-Fi across our fleet."</p>

HMRC teams up with Business Inspector series on TV

KEEPING good records might not be the most exciting aspect of running a business. But, when it comes to growing your business, it is one of the most important says HM Revenue & Customs (HMRC).</p><p>To get this message through to small businesses, HMRC is sponsoring 'The Business Inspector', a four part series airing on Five, which aims to raise awareness among small businesses of the need for sound business practices such as keeping good records.</p><p>The series is presented by Hilary Devey, a former C4 Secret Millionaire and chief executive and chairman of palletized freight distribution business The Pall-Ex Group which she built up into a multi-million pound business. The four-part series starts tonight (17 March) and will be broadcast weekly on Five at 8pm.</p><p>Part one sees Devey go into struggling businesses and reveal how improving their business systems, such as keeping good records, managing cashflow and developing a marketing strategy, can help turn around their fortunes.</p><p>Stephen Banyard, HMRC's business customer unit director, said: "Failure to take reasonable care costs the Exchequer over L6bn a year with poor record keeping a major cause. We hope this series will raise awareness of the need for good record keeping.</p><p>"We also want businesses to realise the benefits to their business - such as improved cash flow - of taking better care of their records and paperwork."</p><p><strong>Further information</strong></p> <p>If you want to understand more about what is required, we host a video on good record keeping on the HMRC banner '<a href="https://www.businessmotoring.co.uk/pages/lawAll.asp">get your tax right</a>'.</p><p>You can also read the Editor's Blog <a href="https://www.businessmotoring.co.uk/pages/blog.asp?id=404">Good record-keeping makes a good business</a>.</p>

Zipcar buys out Streetcar car club

THE car club Zipcar has bought out rival Streetcar to become world's largest car sharing service.

Unexpected growth in economic activity

THE OECD - the Organisation for Economic Co-operation and Development - reports that economic activity in OECD countries is picking up faster than expected in its latest Economic Outlook report.</p><p>While this is welcome news for SMEs involved in exports, as well as all small businesses domestically, the OECD also warns that volatile sovereign debt markets and overheating in emerging-market economies present increasing risks to the recovery.</p><p>Gross domestic product (GDP) across OECD countries is projected to rise by 2.7% this year and by 2.8% in 2011. These are upward revisions from the previous, November 2009 forecasts of OECD-wide GDP growth of 1.9% in 2010 and 2.5% in 2011.</p><p>In the US, activity is projected to rise by 3.2% this year and by a further 3.2% in 2011. Euro area growth is forecast at 1.2% this year and 1.8% next while, in Japan, GDP is expected to expand by 3.0% in 2010 and by 2.0% in 2011.</p><p>Trade flows are rising again. Strong growth in China and other emerging markets is helping to pull other countries out of recession. But at the same time, the risk of overheating and inflation is growing in emerging markets. A boom-bust scenario cannot be ruled out, requiring a further tightening in countries such as China and India. The knock-on effect would be slower growth in other regions. Exchange rate flexibility could ease some of the pressure on Chinese monetary policy and provide more scope for addressing domestic inflation, says the OECD.</p><p><strong>Strong fiscal consolidation required</strong></p> <p>Instability in sovereign debt markets poses another serious risk. It has highlighted the need for the euro area to strengthen its institutional and operational architecture. Bolder measures need to be taken to ensure fiscal discipline, says the Outlook. Several countries are already taking early action to enhance the credibility of their fiscal consolidation plans and this is very welcome.</p><p>"This is a critical time for the world economy," said OECD secretary-general Angel Gurria. "Coordinated international efforts prevented the recession from becoming more severe but we continue to face huge challenges. Many OECD countries need to reconcile support to a still fragile recovery with the need to move to a more sustainable fiscal path. We also need to take into account the international spill-overs of domestic policies. Now more than ever, we need to maintain co-operation at an international level."</p><p>With a huge debt burden weighing on many OECD countries and the strengthening recovery, the emergency fiscal measures provided by governments to tackle the crisis must be removed by 2011 at the latest, the Outlook says. It adds that the pace of such action must be appropriate to particular conditions and the state of public finances in each country.</p><p>To support growth as budgets are being tightened, macroeconomic, financial and structural policies need to be linked. Spending cuts or tax rises should focus on areas that are the least harmful to growth. Fiscal rules could enhance the credibility of plans to strengthen public finances. Reforming product and labour markets to enhance competitivity must also be part of the strategy.</p><p>Although economic activity is picking up, the growth in jobs is not keeping pace. The number of unemployed has risen by 16 million in OECD countries in the past two years. The Outlook says the unemployment rate may now be peaking at an average 8.5% across OECD economies and is likely to fall only slowly in the near term. It adds that governments must make room in their budgets for cost-effective labour market programmes that support workers at greatest risk of becoming long-term unemployed.</p>

Volvo launches A4 Avant rival

VOLVO wants to appeal more to business car drivers and small business owners - and has now launched an all-new Volvo V60 sports wagon to complement the recently revealed S60 saloon.</p><p>It's an area that Audi (A4 Avant), BMW (3 Series Touring) and Mercedes (C-Class Estate) have very much made their own. But now Volvo wants some of the action.</p><p>"The typical sports wagon customer is an S60 buyer who would like some extra space and flexibility, but without the slightest compromise on sporty design and exciting driving properties," explained Volvo Cars president and CEO Stephen Odell.</p><p>The load area has a capacity of 430 litres with the rear seats in place, while the company's award-winning City Safety technology is standard with the new Pedestrian Detection with Full Auto Brake available as an option.</p><p>The all-new Volvo V60 will be available with a variety of diesel and petrol engines, said Volvo, including an economical low-emission 115hp DRIVe version as well as a high-performance 304hp turbocharged T6 model.</p><p>Volvo said it would reveal specifications and prices of the V60 sports wagon at a later date.</p>

Lower company car tax diesel for Superb

IT MIGHT be smaller in cubic capacity than the engine it replaces, but a new 1.6-litre diesel for the Skoda Superb Hatch and Estate models mean lower company car tax rates

Businesses keep an eye on the bottom line

Keeping track of drivers’ business mileage

THE experts at expense management company, GlobalExpense, say that their research has uncovered 20% of expense-claiming employees admit to exaggerating their expenses, with business mileage the most likely to be falsified.</p><p>So keeping track of claims is important for any SME business with a workforce regularly out on the road. A new expense claims module, launched by FSG and developed in association with leading professional services supplier KPMG, claims to overcome the issue.</p><p>Simultaneously, business mileage claims administration for both employers and drivers is simplified and the system meets HM Revenue & Customs (HMRC) mileage reporting rules, says FSG.</p><p>"Whether employees are driving a company car or their own vehicle on business trips, accurate recording of mileage is essential to prove that staff are not in receipt of company paid-for fuel used on personal trips," commented FSG chairman, Geoffrey Bray.</p><p>So how does it work? The online journey expenses claim module asks drivers to record each mileage claim by logging journey date, purpose of journey, start and end location, allowable/disallowable miles, total mileage, company provided or private vehicle used on business and, for company car drivers, engine size of vehicle and fuel type.</p><p>To help employers reduce mileage and keep expense claims within budget, the system builds up a running log of total mileage claimed in a financial year or each month of the year - or a combination of the two.</p><p>"Mileage claims are an administration headache. For the majority of employers the paper trail is endless," Mr Bray added. "But we have developed a fully automated system that meets HMRC rules for benefit-in-kind tax reporting requirements."</p><p>If it has a drawback, then it's the fact that a business must already subscribe to FSG's RiskMaster online occupational road risk management solution.</p>

M Sport option for BMW X3

THE M Sport spec on any BMW is always popular, providing BMW cars with a sportier on-road presence.<p>Good news then for all small businesses after BMW's all-new compact X3 4x4 range: there's an M Sport X3 due next year.</p><p>The M Sport specification adds 18-inch star-spoke M alloy wheels, chrome plated door sill finishers with M designation, high-gloss Shadowline exterior trim for the window surrounds, M Sport multi-function steering wheel, sport seats and anthracite headlining to the BMW X3.</p><p>The BMW X3 20dxDrive M Sport goes on sale March, 2011. Prices will be announced later.</p>

New Mercedes-Benz ECO-Start

A £545 stop-start system for the Mercedes Sprinter promises fuel savings and emission reductions.