Do you operate in the Transport and logistics sectors of the UK? Finding it a tough with the increases to the Living wage and auto enrolment? You are not alone. The answer or part of the answer to your profitability issues maybe to look at bringing in a senior finance professional with a proven track record in the Transport and Logistics sectors?
It doesn’t need to be a full time position you may not have considered it before but it is possible to recruit a part time FD or even a part time Finance Director who job shares with several companies known as a Portfolio Finance Director.
We work closely with a company called FD Capital who specialises in just this sort of role, they have a couple of great people on their teams with experience in £40m scale transport companies, so very familar with the challenges you face and options such as joining pallet networks or changing your fleet to smaller vehicles to overcome the acute driver shortages in Class 1 and Class 2 roles at the moment.
Brexit of course is not helping one bit, but things do change and we can expect at least clarity of the situation in the coming months and once the UK is finally out of the EU our new trading relationship and the availability of drivers from the EU and Eastern Europe in particular will become clearer.
Often having someone on board who is used to the nature of our industry is a big plus and someone who can begin to challenge costs for you is a huge benefit, whether it is business rate relief, making R&D claims or just finding ways to structure the business in a more tax efficient way, these little differnces all add up, particularly at a time when the whole industry is facing the challenges that we do at present.