Leading industry analyst IBISWorld has forecast a major skills shortage in the next five years in the road freight industry with the current workforce ageing and the sector struggling to attract new employees. The analysis reports that through this there is let up in demand as the industry grows steadily with the improving economy.
The shortage of skilled operators in the transport industry and a demand for new operators has led equipment finance company GoGetta Equipment Funding to publish an ebook which outlines was to establish a freight transport operation.
GoGetta reckons it has put the ebook together with the aim of encouraging primarily young, potential owner-drivers primarily or anyone looking to get into the industry.
The ebook, entitled ‘Starting an owner–driver trucking business’ sets out the basics and offers advice on how to get started in the business that will equip operators as their company becomes established and grows.
Transport and logistics specialist and Partner at Ferrier Hodgson, Brendan Richards said the road freight sector has been staring down the barrel of a skills shortage for a long time, and added that there is nothing to suggest that this will change anytime soon.
“There probably hasn’t been a better time to look to capitalise on opportunities emerging in the road freight sector,” said Brendan Richards.
“For new market entrants with the capacity to capitalise on new technology to drive their referrals and bookings, there is enormous scope to take on the established players,” Mr Richards said.
Leader of business sales for GoGetta Equipment Funding, Caleb Gunn said the company’s trucking sector is forecast to increase 40 per cent this financial year and that is partly why the company has published the ebook.
“We have noticed a trend that we are actually funding younger people who are new to the transport industry as opposed to the traditionally aging population,” Gunn added.
Mr Gunn recommends anyone considering entering the transport industry considers second hand equipment and familiarising themselves with the six important steps of setting up and running a trucking business, which are outlined in the company’s start ebook.
“It’s important for start-up owner drivers not to tie up cash flow or overspend because they need to be able to competitively tender to ensure the longevity of their business,” Mr Gunn said.