November 1, 2018: Co-Authors: Kent L. Schwarz, Esq. & Jay Soojian, CPA
Many companies are continually facing challenges in their industries as influences outside of their control may have negative effects on their profitability. In the trucking and transportation sectors this is especially true. For example, a shortage of qualified drivers is driving the cost of labor upwards. Increases in other costs such as fuel also increases expenses. As interest rates move upward, the cost of trucks and other equipment increases for those financing equipment purchases. Trade wars are also increasing equipment costs and even replacement parts.