A new organisation - Business Car Finance - has been created targeting SMEs running a company car scheme or a cash-based alternative.

“Most SMEs do not employ a full-time fleet manager and the majority of those companies do not have the in-house expertise available to ensure they operate a company car policy, a cash alternative strategy or a combination of the two, tax efficiently while meeting health and safety and environmental obligations,” said founder, David Rawlings.

“Running a company car fleet or a cash alternative scheme, including employer car ownership schemes, has never been more complex.

"While company cars remain a very popular staff recruitment and retention tool, certain employment and lifestyle situations may mean an alternative is the best option.”