Pointers for Reducing Your Business’s Fuel Expenses

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Experts say that we have moved past climate change and climate crisis—we’re now in a climate emergency. While the burden of responsibility is on the world’s biggest corporations and richest countries, the small business owners of the world can band together as an act of solidarity as we wage war for our planet and the next generation.

Your business can start by making some changes to decrease your fuel usage and dependence and reduce your fuel expenses. Here are some ideas where your business can start, slowly but surely.

Find better solutions for waste management

If waste management is part of your business’s day-to-day operations, one of the best ways to reduce fuel usage and expenses is by finding better solutions. One example is industrial Marathon compactors, which can decrease the volume and size of materials, which can then lead to a significant reduction in hauls. More often than not, these compactors will also lead to massive savings in waste. This is because these compactors were designed to be configured according to every company’s unique needs and operations and were developed to manage a wide array of waste streams. Other benefits include an increase in usable space for your workplace, an improvement in security and safety, and the compactors make your place of work more aesthetically pleasing, too. At the same time, you won’t have to worry about hauling and transporting the waste yourself since the waste compactor can do that for you. It will save your business a lot of time and fuel expenses in the long run.

Inform yourself on tax deductions, and maximize them

Not all small business owners know that they can deduct the cost of fuel on their tax returns. However, certain conditions need to be met, and you would benefit greatly from consulting with tax professionals who can walk you through the details. At the same time, it can’t hurt you and your team to keep a detailed track of all the records of your business’s travel expenses.

Find simple changes in your day-to-day operations

Oftentimes, it’s the simple day-to-day changes we make that can provide long-term improvements in our fuel expenses. Here are some simple changes you can make to your business’s daily operations:

  • Schedule appointments and deliveries outside of peak commuting hours.
  • Consider having your clients and customers come to your place of work instead of meeting somewhere else.
  • Incorporate teleconferencing or telecommuting. It’s still a smart strategy as long as we’re combating COVID-19.

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Switch to the best rewards card

Some rewards cards are better than others in terms of offering cashback on fuel purchases. Platforms like Bankrate and NerdWallet can help you find the best card to suit your business’s needs and requirements. When choosing a new card, make a habit of reading the fine print because it’s easy to fall into the trap of not knowing about certain restrictions. For example, some cards won’t provide rewards from wholesalers like Costco, while others add a gas-spending limit.

Train your driver or rider to practice fuel-saving techniques

If your drivers tend to be aggressive in their driving or employ improper speed acceleration, they might be responsible for higher fuel consumption in your business. At the same time, it might affect the handling of your goods and products, and worse, you as the business owner or manager might be held liable if an accident happens due to your company driver’s reckless driving. Make sure all your company’s drivers and riders are conscientious in their driving practices.

Monitor other routes and traffic

Hire highly experienced drivers and riders, especially since their expertise might give them an edge in finding the best routes that can save fuel and time. When you hire locals, you also have the incentive of having a team that knows your area like the back of their hands. GPS will also help with traffic monitoring since it can help you conserve miles in routes that are more unfamiliar to you and your drivers. It can help save a tremendous amount of resources, like your time and energy, so invest in a reliable GPS with traffic monitoring capabilities for all your vehicles.

When it comes to cutting back on outgoing expenses, it’s unfortunate that saving money on fuel is often not prioritized by small business owners. But with so many ways to trim down our fuel spending, you’ll be surprised just how much it can have an impact on your business’s bottom line. Explore ways to reduce your business’s fuel expenses and watch your profit climb.

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