Why A Small Business Should Use A Fuel Card


Think you need to have a large fleet to use a fuel card? You’re wrong!

Any business owner can apply for a fuel card, irrespective of whether they own one or tons of vehicles. As a matter of fact, fuel cards are a must-have for business owners because they help save money in the long run.

Most business owners actually pay for the fuel of their employees. That is to say, your employees pay for their fuel, submit the receipts, and get reimbursed by you– is that right? For this reason, many fuel companies have introduced fuel cards to help businesses reduce fuel costs.

Though ubiquitous, small business owners are still confused if they should jump on the bandwagon and get a fuel card for their firms. If you’re wondering the same, read this guide to learn why a fuel card for small businesses is a worthy investment.

Why A Small Business Should Use A Fuel Card

There’s no denying that every business requires a vehicle for carrying out its day-to-day operations. Whether your vehicle runs on diesel, gas, or petrol, fuel cards offer plenty of benefits for every source of energy.

Mostly in small business settings, the drivers are given the freedom to purchase fuel through the company credit card. Day after day, the owner or the fleet management team collects the receipts to keep track of the amount spent on fuel.

But have you ever imagined what would happen if the driver misplaced the receipt? Or, let’s say that the amount spent doesn’t equate with the fuel purchased by the driver.

This is a time-consuming and distressing way to track money spent on fuel. And that is why a fuel card is a must-have for every business owner, including small ones.

Benefits Small Businesses Receive By Using Fuel Card Programs

  1. Controlling Business Expenses

The primary goal of small business owners is to generate revenue while cutting down costs as much as possible. Designing marketing strategies and handling paperwork simultaneously is no easy thing, even if you have an accountant by your side. More so, problems arise when you misplace or lose important receipts.

That is where fuel card programs prove useful because most companies have online systems that automatically compile the monthly reports of your spending and take care of the tax obligations.

Besides reducing the workload, this allows business owners to keep track of their vehicle expenses and access detailed information that they wouldn’t have otherwise. This is particularly beneficial for trucking companies whose vehicles travel long distances to transport goods.

  1. Eliminate The Risk Of Fraud

Fraudulent practices are common today, and coming across loyal employees is no less than a blessing for business owners.

If you’ve hired a new driver or a trucker for your vehicle, you must not hand them the company credit card for purchasing fuel. Instead, you must give them a fuel card to pay for the fuel needs of your business.

Almost every fuel card comes with a purchase limit and odometer tracking that allows business owners to keep a beady eye on the transactions taking place. This means that you can track when and where the card is being used and by whom, so your business won’t incur any loss.

  1. Business Owners Can Track Their Vehicle Usage

Let’s say your driver has to cover a distance of about 2,000 km to deliver goods to another city. Assuming that you have given him money to purchase fuel for the expected distance, your vehicle seems to have covered about 3,000 km.

If you pay for the extra 1,000 km, your monthly budget will get disrupted because you’ll end up spending more money than estimated.

For this reason, keeping track of the distance covered by a truck or car is important for every business owner. Use your fuel cards to track the mileage covered or book service appointments on time.

This makes them an effective tool for calculating the monthly fuel cost of your vehicle, which in turn, will come in handy for planning your monthly budget. This means you won’t exceed your monthly budget and can save money from unnecessary spending.

  1. Pay For Other Things Alongside Fuel

If you think fuel card companies only allow business owners to pay for petroleum, diesel, or gasoline, you’re wrong! Most fuel card providers let users pay for other essential things like engine oil, accessories, and credits for nearby car washes.

But not every company goes the extra mile to satisfy their customers, and only a few offer additional perks. Thus, whenever applying for a fleet card, make sure you ask about the add-on services you’re entitled to receive.

How To Choose The Right Fuel Card?

  1. Type Of Fuel

You must consider whether your vehicle runs on petroleum, diesel, or relies on electric charging stations. Some companies offer exclusive discounts on particular fuel, so you might as well go for them.

  1. Roads Where The Truckers Drive

Not all companies offer fuel cards that are valid in every network– regional, national and international. So, if your truckers run on international networks, make sure you apply for a fuel card that allows the driver to make transactions at those fuel stations.

Fuel cards are an excellent way to track the amount your business spends on purchasing fuel. In addition to that, you won’t have to go through the hassle of tallying the expenditure with the estimated budget.

Irrespective of whether you’re an owner of a large or a small firm, getting your hands on a fuel card is necessary. When scouring for companies that offer fuel cards, make sure you check the additional benefits your business will be receiving with them.

Now it’s over to you to choose a suitable fuel card based on our guide and generate more profits!

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