07/03/2023
This is another reason why we should strategize and have a financial plan in place. A plan having both a personal and business budget. The transportation/ trucking industry like many other industries, can have periods of substantial gains when the demand is there. However, there are also times when that demand stabilizes and can even go downward. This is what many are experiencing in the industry currently. If you didnt understand the nature of the Economic cycles, you may have entered this industry assuming the period of substantial profitablity would be endless, and made important decisions based on that assumption. This is a very teachable moment for many and not only those in this industry being talked about in the article. This is a great article that speaks about the challenges for some truckers today with the current Economic situation.
After supply chain problems offered an incentive for new truckers, demand has dropped, and now drivers struggle to find work.