Top Mistakes Truckers Make When Managing Cash Flow and How to Avoid Them

Experts report that a large percentage of trucking companies fail due to poor cash flow. If you’re trying to get by from one payment to the next, it’s impossible to cover emergency expenses. When you have no money and bills …

Tax filing season is coming up fast. As an owner-operator, it’s time to get ready for annual business taxes, and you want to make sure you limit your tax burden as much as possible. We have five tips to help …

Government contracts are key to stable revenues In the trucking industry. It gives your business the financial stability needed to keep going in the lean times. Landing these contracts takes time and expertise that some smaller companies lack. Did you …

In just the first six months of 2024, around 10,000 motor carriers shuttered their businesses. The nation is down almost 33,000 carriers since 2022, and a lot of these closures have happened in southern states. In November alone, more than …

Any trucking company requires the right team to ensure the business runs smoothly. Suppliers play a big part in this, and you need to ensure that your supplier relationships do not disintegrate due to miscommunication, poor management, or unpaid bills.  …

Equipment purchases are expensive but necessary when you run a trucking business. One of the best ways to manage the costs is through freight factoring. Freight factoring helps keep money coming in each week, but it goes beyond that by …

Truckers face challenges every day. Some of them are avoidable, but others are completely unexpected and frustrating. Breakdowns are one of the frustrating ones that often hit without warning. While the risk of some breakdowns can be decreased through regular …

Starting in 2024, the federal government requires most trucking companies to use electronic logging devices (ELDs). These devices record a driver’s hours of service automatically and eliminate the need for manual logs with pen and paper. ELDs record location, hours …

Multi-load trucking can be a profitable field because many trucking company owners avoid it. The competition is lower because some owners feel they lose too much money when drivers have to make more than one stop delivering a shipment.  The …

Both freight factoring and fleet financing are essential financial tools for a trucking company’s owner. Freight factoring involves selling an invoice to a factor at a discount. You pay the agreed-upon fee and benefit from immediate payment. The freight factoring …