An invoice factoring company for trucking is a prime example of a dedicated service provider with a mandate to strengthen trucking companies. The trucking industry is vitally important to the North American way of life. It is more than just a major contributor to national prosperity, it also supports the safety and well-being of all citizens. Despite being a critical service, it is an industry exposed to tremendous challenges that threatens its very existence. A growing driver shortage, emerging government regulations and restricted funding options are just a few of the issues that impede the vitality of commercial trucking. In order to survive, the industry needs backing from advocates and business support services. Freight bill factoring is one such example; an industry specific funding option design specifically to support fleet owners with easy access to working capital.
Safeguarding the Trucking Industry
One of the first steps in developing and implementing future support measures is to broaden awareness and educate the general public. Coexisting with 18 wheelers on the same stretch of highway may be regarded as inconvenient, or worse, dangerous by a majority of smaller vehicle drivers. Perhaps by growing awareness of the critical role that freight carriers perform will lessen frustration, develop an increased positive tolerance for sharing the road with heavy trucks and lend support to a challenged industry.
The Importance of Trucking
The freight transportation industry is a significant force in the economy, directly contributing about 5% to the GDP. Trucks are the work horses of the supply chain. Long before a retail product reaches store shelves, the raw materials that go into the manufacturing process are delivered by truck. Once produced, the movement of finished products to warehouses, distribution centers and retail outlets are all managed mostly by tractor trailer units. However, the significance of trucking extends far beyond the benefits of commerce. Consider the massive degradation to our North American way of life if every truck were pulled off the road.
Commercial truck traffic is vital to ongoing stability and the continuance of what we all consider to be normal lifestyles. Recent history has revealed to us the devastating results that occur from a major disruption in trucking. The restricted cross border movement that immediately followed the 9/11 terrorist attacks caused huge losses to North America’s manufacturing base. The logistical challenges that arose from Hurricane Katrina’s relief efforts have provided actual case studies that reveal the consequences of restricted truck traffic.
What Would Happen if All Trucks Stopped
The effects of a trucking shutdown in the event of an emergency or incident of national significance, would be immediate and devastating. Food, healthcare,
transportation, waste removal, retail, manufacturing, financial institutions and employment would all be seriously impacted.
Significant food shortages would occur in as little as three days, and drinking water would be depleted in two to four weeks. Commercial waste and
household garbage would begin piling up immediately, creating serious health and environmental consequences. Hospitals would start to run out of
needed medical supplies within hours, jeopardizing critical care patient services. In a matter of days all health care services would cease as
essential basic medical supplies and food for patient meals are depleted. Fuel shortages would start in hours as gas stations would not be able
to replenish supplies leading to a critical cessation of all automotive transport within a week. The impact of a truck stoppage would not be limited
to just roadways. Airports, railyards, sea ports and public transportation centers would all be shut down as trucks are the carriers of fuel and
supplies to all other modes of transportation. Without access to travel, people would be unable to get to work causing labor shortages and economic
Assembly lines that depend on just-in-time delivery, would shut down within hours of a truck stoppage. The resulting interruption of raw material to manufacturers and finished goods to retail outlets would cripple the economic backbone of the nation. Even financial institutions would suffer. Without the secure daily transportation of currency and financial hard copy documents, the banking system would be paralyzed.
Support for the Trucking Industry is Essential
As our society advances further into a globally integrated environment, it is necessary to advance the systems and networks that support our nation and increase our competitive edge. The free movement of commercial transport trucks and the strength of the trucking industry as a whole is critically important to the health and well-being of the nation. It is incumbent on all of the country’s stake holders, including politicians, industry leaders and citizens alike to be aware of the significance of freight transportation and to support this important industry.
Freight Bill Factoring Supports Fleet Owners
Additional to the many challenges already mentioned that hamper the transportation industry, availability to immediate working capital ranks high on the list of hindrances. Trucking is a capital intense industry requiring daily access to cash in order to support fleet operations. Freight bill factoring is becoming a mainstream financial strategy for many fleet owners to maintain healthy cash flow. The recent emergence of invoice factoring companies that are exclusive to the trucking industry is a prime example of business leaders tailoring support services to meet the unique demands of this critical industry.
Freight transportation is a major contributor to ongoing stability and the continuance of what we all consider to be normal lifestyles. Whether you are a politician, a business leader or just a normal citizen, providing support and tolerance for the free movement of freight transportation is a positive step in strengthening our society.
For more information about invoice factoring and other financial services to support the trucking industry, please call 855.838.7575 or visit us online at www.AccutracCapital.com