The recent TEG Road Transport Index reveals a significant rise in UK haulage prices, with each year showing a substantial increase there’s no wonder business owners are facing increasing financial pressure.
Understanding the financial landscape
Rising prices present a multitude of challenges. Higher costs for fuel, labour and maintenance combined with potential tax increases, mean that managing cash flow is not just important but essential. In this environment, even a small delay in payments or accumulation of unpaid invoices can severely impact a company’s financial stability.
Case Study: How Eddie Stobart secured their cash flow with professional debt recovery
To better understand how haulage companies can safeguard their financial health, especially amidst rising costs, consider the case of Eddie Stobart, a major player in the logistics sector. Like many in the industry, Eddie Stobart have also dealt with non-payers.
Recognising the need to protect their cash flow and manage their overdue accounts efficiently, Eddie Stobart partnered with us a few years ago to handle debt recovery. Within just over a year, we achieved an impressive recovery rate on outstanding debts, allowing Eddie Stobart to free up valuable time and resources to focus on core operations. With our professional and courteous approach, we ensured that client relationships remained strong while maintaining a robust cash flow.
This just goes to show that even established companies in the haulage sector can be at risk of experiencing bad debt. Given the current economic climate and the statistics mentioned earlier, it’s more important than ever for haulage companies to be diligent in managing their accounts and staying on top of their ledgers.
Taking steps to secure your financial future
As costs continue to rise, the challenges faced by the industry aren’t going away anytime soon. But, by taking proactive steps to manage your cash flow and recover outstanding debts, you can create a more stable financial foundation for your business. Every business – large or small – deserves the peace of mind that comes with knowing their finances are in good hands.
If you’re feeling the strain of rising costs and are concerned about the impact of bad debt on your cash flow, remember that you’re not alone. We’re here to support haulage companies like yours through these difficult times with tailored debt recovery solutions that respect your client relationships and keep your operations running smoothly.
Reach out to us for a no-obligation conversation about how we can help you protect your business’s financial health. Let’s work together to ensure you have the resources and support you need to navigate the challenges ahead and continue moving forward with confidence.
