The transport (haulage) and logistics industry is at the mercy of many variables.
Irrespective of turnover or size, your priority is to keep their fleet on the road and to keep it moving at a profitable rate.
We understand some of the key factors that can make or break transport and logistics companies:
- Fuel costs,
- exchange rate fluctuations
- import and export ratios
- Increasing regulation
To remain profitable, you need to keep a close eye on cash flow and this is where Haulage Factoring can empower you to make decisions when they are right for you.
Why wait for payment when the exchange rate says the time to buy fuel, equipment and even manpower hours.
When balancing the books, Haulage Factoring can provide an effective solution to maintaining a steady stream of working capital through a business, ensuring that drivers can be paid, vehicles can be re-fuelled and the movement of goods throughout the UK and beyond can continue.
Factoring for Haulage can also come with the added advantage of being combined with a fuel card agreement, further reducing the withdrawal of working capital from the day-to-day running of the business operations. With fuel taking an increasingly larger percentage of operating costs, a Factoring arrangement, combined with a fuel card service, can release equity tied up in your invoices without the need to immediately release it to inflating fuel costs. The vital cost of fuel can be budgeted and spread over the cost of the year, reducing its debilitating effect on your company.
What are the benefits of Invoice Factoring for my Haulage business?
- It is a quick and effective method of releasing equity tied up in your invoices
- It increases your cash flow and allows you to keep up with vital fuel expenses and operating costs
- It allows you to out-source your credit control and ledger management, leaving you to focus on managing your business
- The funding available to you will grow as your business grows
- You can include fuel card services in your Factoring agreement, releasing cash flow from this critical day-to-day expenditure
- You can add bad debtor protection to your funding facility, providing peace of mind and stability
How can Simply Factoring Brokers help?
Simply Factoring Brokers can put you in touch with a range of Factoring companies that specialise in the transport and logistics industry and who understand the challenges that you face everyday. We will only put you in touch with an industry expert who can support you and your business, as you continue to thrive and grow.
Our funders include some of the UK’s leading names in Factoring services and will provide you with a revolving credit facility to enable you to keep your business on the road. What’s more, they can also help you source additional services, specific to your industry.
Simply Factoring Brokers can help you to source a conventional Factoring solution that includes a specialised fuel card service, allowing you to cover the cost of keeping your fleet operating, without the worry of financing the every day fuel costs.
For more information on Haulage Factoring and how it can help keep your business moving, speak to our team of specialist brokers by giving us a call.
We make your business our business.