The Rise of Veteran-Owned Trucking Companies

At the start of 2022, roughly half a million veterans completed their duties in the armed services and entered civilian life. Many of those are looking for work, and some are thinking about exploring options as business owners. Fortunately, the federal government is making it easier for veterans to not only get jobs in the trucking industry but also launch their own carrier businesses as well.

Moving America’s Economy

Supply chain issues are causing ripples throughout the country. The challenges to getting products, raw materials, and agricultural goods to businesses and, ultimately, consumers, are now affecting prices at all levels. Physical goods ranging from baby food up to commercial and industrial electronics cost more, not because there is a scarcity, but because supply chains are not moving like they were a few months or even a year ago. Yet if the supply chain issues are not corrected, then prices will continue to rise and the ability to get the materials needed to create new products will be even more precarious.

Veterans Continue to Serve in a New Way

The influx of veterans into the workforce could be the solution our entire economy needs to overcome the obstacles in our supply chains. Since the driver shortage began to really come to the forefront in 2017, the trucking industry has been trying to make it easier for veterans to get the training they need. Initially, a path was cleared for veterans to get their Class-8 training. The logic followed that if veterans had military training to load and drive heavy vehicles, then those skills could easily carry over to the trucking industry. This became the FMCSA’s Military Skills Test Waiver Program, as well as a grant program to make it easier for former service people and their spouses to get into the trucking industry.

Beyond the Steering Wheel

In addition to well-paying jobs as drivers for carriers or careers as owner-operators, some veterans have skills that are more geared towards running operations. Currently, there is a demand for new trucking companies. Larger carriers can haul shipments along the major arteries to big cities, but they cannot reach every town or navigate the smaller streets. Similarly, hiring larger carriers for local shipments may not be feasible. In these cases, working with a smaller trucking company would make more sense.  For these reasons and more, veterans are starting to launch their own trucking companies. Our veterans know how to solve problems logically and effectively.

Launching a Veteran-Owned Trucking Company

Launching a trucking company is no small feat. There are permits, forms, insurance, and other processes that must be in order before any shipments can be hauled. Facilities and equipment must be acquired. Launching a new trucking company can sometimes feel overwhelming even for seasoned entrepreneurs. However, veteran-owned trucking companies are on the rise, and they are poised to help rightsize our supply chains and get America’s company rolling again.

Get Your Trucking Company Launched

Single Point Capital has helped veterans and owner-operators launch their own trucking companies throughout the United States. Our startup program helps clients with the necessary forms and filing fees so they can launch their trucking companies without unnecessary delays. We provide options for equipment and insurance, and we are with you at every step to offer guidance, and advice, and to ensure the clearest and shortest path to your goal. Single Point Capital is committed to being a one-stop shop to help veterans launch their own trucking companies, and then provide the tools and services to ensure long-term success. We offer factoring services to turn invoices into cash so your revenue stream is strong and steady. We offer incredible discounts on fuel to keep your vehicles moving. We also offer logistics and dispatching services to match your trucking business with shipments.

As more veterans come home and or retire from the service, the more opportunities there will be for them to get jobs with carriers, become owner-operators, and launch their own trucking companies. With their help, we can get our economy moving and overcome any supply chain obstacles. To learn more about our startup program or any of our other services, contact the team at Single Point Capital today.