The haulage sector is about movement, naturally. Gaining and maintaining momentum. For hauliers, the watchword is agility. Being able to respond and react to a whole range of situations, many of them unexpected, and being ready to seize the right opportunity.
However, for these companies to be agile, they need the right kind of support, particularly when it comes to finance. This could include invoice discounting, asset finance or other specialist financial products. Can a more diverse, agile approach to providing financial funding services help support UK businesses own agility and flexibility?
Challenges and Obstacles For Hauliers
“Finance is a big issue in haulage,” explains Gary Cain of Reach Commercial Finance. “From managing the necessary capital for investing in vehicles to the ways margins constantly face the squeeze from restricted hours of operation and lots of competition.”
Haulage businesses face plenty of day-to-day issues. These include bad roads and supply chain problems, along with continual servicing and maintenance costs. But there is also their overall financial management to consider.
“Many hauliers can benefit from a fresh financial perspective,” Gary observes. “It shouldn’t be a case of necessity being the mother of invention, but rather that the capacity for change should be instilled in businesses from the start.”
Exploring New Options
Cash flow can cut any business down to size if it is not managed properly. With challenges to margins and infrastructure, hauliers need flexibility with financing issues such as invoicing and investment in assets in order to stay competitive.
“Businesses either need to grow or be able to consolidate their position. This requires access to some sort of financing. There are the operational basics to deal with, but also issues around technology and how to make the business more efficient and competitive”
Gary Cain, Reach Commercial Finance
One such option ripe for exploration is haulage optimisation. This involves new software solutions to old problems, such as tracking, planning and maximising vehicle use.
“Businesses need financial support, but they also need financial vision and the space in which to transform how they work in order to meet new challenges,” Gary concludes. “It’s up to the professionals providing this support to come up with the necessary innovative approaches to enable change to happen.”
To discover more about the innovative approaches and financial support options available to your business, please call Reach Commercial Finance on 0800 993 0193 or visit reachcf.co.uk.