Trucking Industry 4th Quarter 2023 Forecast

Share

The trucking industry forecast for the 4th quarter of 2023 is mixed. On the one hand, economic growth is expected toTrucking industry 4th quarter 2023 outlook slow, which could lead to a decrease in freight demand. On the other hand, there are a number of factors that could support freight demand, such as the continued growth of e-commerce and the ongoing recovery of the manufacturing sector.

Overall, analysts are projecting that the trucking industry will experience modest growth in the 4th quarter of 2023. However, there is a risk that the market could be more volatile than expected, depending on the overall economic climate.

Read more

Double Brokering and Freight Fraud: What You Shippers & Carriers Need to Know

Share

“Double brokering” is a type of freight fraud that occurs when a freight broker takes a load from a shipper and then brokers it to another carrier without the shipper’s knowledge or consent. ThisDouble Brokering and Freight Fraud leaves the original carrier out of pocket, as they have no way to get paid for the load they have moved.

Double brokering is a serious problem in the transportation industry, and it can cost shippers and carriers millions of dollars each year. In some cases, it can even lead to the collapse of businesses.  In Q1 2023, Truckstop.com, saw a 400% increase in double brokering complaints.

Read more

Basic Accounting For Trucking Companies

Share

basic accounting for truck driverOwners of trucking companies may not have a background in finance, but it’s important to have a  basic understanding of accounting. Even if you have a professional bookkeeper or accountant handling your books, you should be familiar with basic accounting terms and principles. This knowledge will help you understand the health of your business and warn you of problems that may be on the horizon.

Accounting Terminology You Should Know

In order to better understand your finances, it helps if you’re familiar with the terminology. The following are some accounting terms that are relevant to your business. Read more