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transportation factoring

Posted by in Transportation Factoring

My last blog entry spoke to how well our contacting program was doing and that it looks like 2010 was getting off to a great start…as I reflected in my entry, I was forced to look into another part of our business which relates to factoring invoices for the transportation industry…so in 2010 transportation factoring has been a disappointing segment of our business and I expect that the same is true for many factors….capacity in the transportation marketplace is extremely high…. and many of our clients have either gone out of business or have drastically reduced the size of their business…this time of year has historically been slow due to various reasons but right now the feeling is that things are different….I guess we can just say  “it’s the economy stupid”…everyone in the industry is trying to be optimistic about the Spring but with fuel costs creeping back up… insurance premiums on the rise….and less goods being shipped…it’s hard to keep a stiff upper lip….we are also doing a lot of due diligence (as we should) to protect ourselves from “desperate people doing desperate things” ….only time will tell us what will happen to this segment of our business….our salespeople are developing new relationships that can steer potential clients our way….maybe by relying on specific spheres of influence closer to the trucking industry it will help us close more profitable transactions with a stronger potential chance of making it through this economic tsunami….I’ll let you know how things go….in the meantime we will all just get up in the morning….dust ourselves off… and get out there determined to get the job done….in the meantime as always…. I welcome your thoughts, comments, and ideas……

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