{"id":9772,"date":"2022-06-10T14:32:24","date_gmt":"2022-06-10T20:32:24","guid":{"rendered":"https:\/\/www.englandlogistics.com\/?p=9772"},"modified":"2022-10-18T07:33:06","modified_gmt":"2022-10-18T13:33:06","slug":"why-you-shouldnt-let-low-spot-rates-stop-you","status":"publish","type":"post","link":"https:\/\/www.englandlogistics.com\/why-you-shouldnt-let-low-spot-rates-stop-you\/","title":{"rendered":"Why You Shouldn’t Let Low Spot Rates Stop You"},"content":{"rendered":"

As spot rates continue to drop, many carriers may be tempted to \u2018ride out\u2019 the market until they return\u2014but this could be fatal to your hard-earned business.<\/p>\n

To understand why, it helps to consider why rates are dropping at all.<\/p>\n

With inflation putting a halt on spending, there is less freight to move. Couple that with the pandemic boom that caused a surge in the trucking labor market, and you\u2019ve got countless truckers fighting for a small amount of freight.<\/a><\/p>\n

To put it short, it may be a while before rates return to a normal state.<\/em><\/a><\/p>\n

That being said, any company that goes without business for long enough simply won\u2019t make it.<\/p>\n

By foregoing opportunities because of spot rates, your income stops\u2014but you\u2019re overhead doesn\u2019t! You\u2019ll accumulate costs with no financial relief.<\/p>\n

 <\/p>\n

So how do you survive on low spot rates?\u00a0Try some of these tips:<\/p>\n

 <\/p>\n

1. Know your operating costs.<\/h4>\n

If you don\u2019t know where your money is going, it\u2019s probably already gone.<\/p>\n

By charting your expenses, you may be surprised by how much\u2014or how little\u2014you need to do to stay afloat.<\/p>\n

 <\/p>\n

2. Keep a healthy cash flow.<\/h4>\n

Low spot rates mean more loads to cover your expenses.<\/p>\n

If money is tight AND you\u2019re running from load to load, it\u2019s critical keep your cash flow healthy to maintain your business. Factoring<\/a> programs are a fantastic way to keep your business thriving.<\/p>\n

 <\/p>\n

3. Trim unnecessary expenses.<\/h4>\n

It\u2019s amazing how much spot rates become manageable when you eliminate the $8 Starbucks Unicorn Frappe from your budget.<\/p>\n

Little expenses can make a huge difference. When it\u2019s survival of the fittest, every penny counts.<\/a><\/p>\n

 <\/p>\n

It\u2019s a tough market, but you\u2019re tougher.<\/p>\n

If you need more tips for how to save during this time of low spot rates, we\u2019ve attached a few more helpful articles below.<\/p>\n

 <\/p>\n

\u2014<\/p>\n

The\u00a0<\/em>England Carrier Services (ECS) division<\/em><\/a>\u00a0offers various services for carriers ranging from maintenance to support. As ECS members, carriers have access to nationwide discounts on fuel and tires from dedicated team members committed to finding the best price. ECS also provides factoring services with benefits such as same-day funding to a bank account or fuel card. These options allow carriers the freedom to focus on growing their business while saving time and money.<\/em><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

As spot rates continue to drop, many carriers may be tempted to \u2018ride out\u2019 the market until they return\u2014but this could be fatal to your hard-earned business. To understand why, it helps to consider why rates are dropping at all. With inflation putting a halt on spending, there is less freight to move. Couple that… Read more »<\/a><\/p>\n","protected":false},"author":9,"featured_media":9778,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"libsyn-item-id":0,"libsyn-show-id":0,"libsyn-post-error":"","libsyn-post-error_post-type":"","libsyn-post-error_post-permissions":"","libsyn-post-error_api":"","playlist-podcast-url":"","libsyn-episode-thumbnail":"","libsyn-episode-widescreen_image":"","libsyn-episode-blog_image":"","libsyn-episode-background_image":"","libsyn-post-episode-category-selection":"","libsyn-post-episode-player_use_thumbnail":"","libsyn-post-episode-player_use_theme":"","libsyn-post-episode-player_height":"","libsyn-post-episode-player_width":"","libsyn-post-episode-player_placement":"","libsyn-post-episode-player_use_download_link":"","libsyn-post-episode-player_use_download_link_text":"","libsyn-post-episode-player_custom_color":"","libsyn-post-episode-itunes-explicit":"","libsyn-post-episode":"","libsyn-post-episode-update-id3":"","libsyn-post-episode-release-date":"","libsyn-post-episode-simple-download":"","libsyn-release-date":"","libsyn-post-update-release-date":"","libsyn-is_draft":"","libsyn-new-media-media":"","libsyn-post-episode-subtitle":"","libsyn-new-media-image":"","libsyn-post-episode-keywords":"","libsyn-post-itunes":"","libsyn-post-episode-itunes-episode-number":"","libsyn-post-episode-itunes-season-number":"","libsyn-post-episode-itunes-episode-type":"","libsyn-post-episode-itunes-episode-title":"","libsyn-post-episode-itunes-episode-author":"","libsyn-destination-releases":"","libsyn-post-episode-advanced-destination-form-data":"","libsyn-post-episode-advanced-destination-form-data-enabled":"","libsyn-post-episode-advanced-destination-form-data-input-enabled":false,"libsyn-post-episode-premium_state":"","libsyn-episode-shortcode":"","libsyn-episode-embedurl":"","footnotes":""},"categories":[5603,377],"tags":[],"yoast_head":"\nWhy You Shouldn't Let Low Spot Rates Stop You | England Logistics<\/title>\n<meta name=\"description\" content=\"So how do you survive on low spot rates? 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