The most popular car with small business managing directors is a Mercedes.

21% of MDs choose a Mercedes.

The next most popular is a Volvo (14%) followed by an Audi (12%).

The average price of the car is £30,000.

The Institute of Directors’ report – called Directors’ R£wards – surveyed some 4000 IoD members. Nearly 1000 of the survey sample were small business directors.

The majority of small companies still prefer to supply a company car (44%). The remainder offer cash.

The report stated that the volume of directors taking a cash alternative is rising. This, said the report, is due to the tax pressure burden.

The average cash amount given in place of a company car is £6500.

The report also found that 29% of small business directors are working in excess of 55 hours per week.

The average pay of a small company MD is £66,560. The average bonus is £20,000.

The cars most popular with small business MDs

• Mercedes-Benz
• Volvo
• Audi
• Jaguar
• BMW

A Mercedes is the first choice for managing directors