Fast Track 100

According to Provecta’s Nick Sutton, environmental taxes introduced in 2002 have made it too expensive for many companies to provide cars for their employees. Provecta designs and manages alternative schemes based on employees owning the cars but with tax-efficient allowances provided by the companies. Provecta says it supplies 7,000 British workers at more than 40 businesses, including Boots, Young’s Brewery and Serco. It claims to have saved its customers a total of £17m on the running of their cars. As part of the scheme, Provecta sources the cars and takes care of maintenance for its customers. Sales at the Reading company have grown 76% a year from £932,000 in 2000 to £5.1m in 2003.

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Company details
CompanyProvecta Car Plan
ActivityFleet services provider
Annual sales rise over 3 years76.07%
Latest sales £000s5,085

If applicable:

* supplied by company † annualised figure