Britain’s exit from the EU has arguably hit no industry harder than it has those operating within transport and logistics, particularly for those involved in importing and exporting products. Coupled with the rising cost of fuel and driver shortages, the Covid-19 pandemic posed yet another unwanted test to the industry.
Interestingly, the industry did not experience Covid-19 evenly. While taxi firms and public transport services saw passenger numbers plummet to unprecedently low levels, demand for haulage services experienced a spike. However, while this sharp increase in demand presented huge opportunities to haulage firms, efforts to take advantage of this were frustratingly hampered by acute labour shortages across the industry.
At Begbies Traynor Group, we have extensive experience advising aviation, logistics, haulage, and public transport businesses across all stages of their lifecycle.
If soaring demand for has resulted in you or your clients keen to explore the possibility of expanding the company, we can provide guidance when it comes to raising finance to fund a growth project, as well as undertaking an analysis of the company in its existing form to ensure it is in the best position possible to take advantage of the current opportunities while mitigating the risk of overtrading.
Part of Begbies Traynor Group, Eddisons are a highly experienced team of agents, valuers, and auctioneers who can assist when it comes to buying and selling vehicles, or sourcing a new warehouse space or depot to facilitate ambitious expansion plans.
If the fallout from the Covid-19 pandemic, or the effects of Brexit, has restricted trade, our licensed insolvency practitioners can take an impartial view of the business and put a plan in place to help turn the situation around. We can advise on a wide range of both solvency and insolvency solutions regardless of the size of the business.
If business offerings are multi-faceted, it may be the case that time, energy, and finances should be diverted to the areas of the company which are proving to be more profitable, while taking steps to wind down those which are failing to generate revenue. With our help, this can be done in a way which causes minimal disruption to staff, customers, and the operations of the business as a whole.
If the business has become insolvent and is beyond rescue, we can also talk you through what liquidation would mean for the company, its creditors, and employees.
No two businesses are the same, and likewise a business rescue and recovery strategy should be equally individual to the company it has been devised to help. What may be the perfect solution for a business operating within the retail sector may be wholly inappropriate for your transport and logistics company. It is only by viewing your company as the individual entity it is - while giving careful consideration to the industry you are operating within - that a robust, tailored plan can be put into place.
At Begbies Traynor Group, you will always be able to receive help and advice from someone who knows your industry, the challenges you are facing, as well as the opportunities. It is this sector expertise which can prove to be the difference between a company thriving, or merely surviving.
