Are you ready to take advantage of opportunities, or are you over-equipped, overstaffed, and dreading next month’s payroll? If you own a small business, you know how difficult it is to stay on top of current trends, and this can be especially true in the trucking industry. Among some of the trends, more than 90% of the trucking companies in America — which translates to over 1 million carriers — have a fleet of six trucks or less.
Good News for Trucking is Good News for the Economy
Earlier this year, we posted Why the Trucking Industry Will Finish Strong in 2013. Our company has been tied to the trucking industry since 1985, and although we’ve diversified, our core business continues to be fleet graphics — specifically trucking. Our business relies on a strong trucking industry and we believe the economy of our nation does, as well.
On May 29th, 2013, ATA (American Trucking Association) released its annual report, Trucking Trends For 2013, and their findings included:
• Trucks moved 9.4 billion tons of freight in 2012, or 68.5% of all domestic shipments. Both figures are up from the previous year
• In 2012, trucking generated $642.1 billion in gross freight-related revenues, or 80.7% of the nation’s freight bills, which were also increases from 2011
• There are 6.9 million people employed in trucking-related industries
• Class 6-8 trucks traveled 137.2 billion miles in 2011 – up 4.7% from the previous year
• The trucking industry paid $36.5 billion in federal and state highway user fees and taxes in 2011 – a 10.3% increase from 2009.
Are You Prepared?
This report bodes well for the industry and indicates continued growth. As we stated in April, “Companies prepared to take advantage of an improved economy, which translates to more shipped tonnage, will finish 2013 strong. While individuals and organizations that continue to view the economy with distrust will, at best, scramble to keep up, and at worst, miss opportunities. It isn’t 2008.”
Being prepared to take advantage of a robust economy includes:
• Equipment maintenance and updates
• Personnel training
• Adding trucks and drivers
According to ATA President and CEO, Bill Graves: “Good data is important to good policy making. And the data in Trends shows a dynamic, growing industry that is the literal lifeblood of the U.S. economy.”
Are you in the trucking industry? Are you ready for success? What have you done to prepare for these positive trends?