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CAN HAULIERS PROTECT THEMSELVES?
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The quick answer is. unfortunately, not completely. Some very solid companies have already been affected by the credit situation. However, those most likely to be hit are already stretched on cashf low and have perhaps seen sales or profits drop. Your best defence against credit restrictions is to bolster your cashf low and present a strong case to any of your creditors in order to secure favourable terms.
If cashf low is problematic, cut costs as far as you can and free up assets. For example, sale and leaseback of vehicles, invoice factoring to release the potential of your sales ledger, or even refinancing buildings over a longer period.
While the trend is industry wide, not all fuel companies are behaving the same way. There are hauliers who have had the plug pulled by one fuel firm and found themselves another that will offer credit — another reason to keep your accounts in a presentable condition, in case you have to win another firm's confidence fast.