Owning a small business is the dream of people living in America. Current figures show that there are almost 28 million small businesses operating in the United States. Considering that, many people have found success by owning at operating their own small to medium sized trucking companies. In this post, you’ll learn what transportation factoring and how it benefits your trucking business.
Understanding How Transportation Factoring Works
Industry figures estimate that almost 12 million rail cars, trucks, and locomotives, and vessels that make up the transportation network. That being said, entering into this network by starting a trucking company isn’t without its own unique challenges. Unfortunately, statistics show that nearly 60% of all invoices aren’t paid on time. In turn, this could mean potentially missing out on 60% of your company’s upfront revenue.
Fortunately, transportation factoring can help your business with this problem. Continue Reading No Comments