Inflation was in the headlines even before the recent spike in oil prices due to unrest in the Middle East. Oil now (fri morning) stands at $111 dollars a barrel.
The effects on our economy of this rise in prices is complex.
In some ways we benefit in that we produce oil from the North Sea and large British oil companies make bigger profits, and finally the tax on fuel helps the country's coffers.
However, if it rises too much and for too long then the cost to the consumer and businesses starts to impact on discretionary spending, will feed inflation and will damage the recovery. Haulage companies and couriers will start to feel the effects immediately as every job costs more to carry out.
Only larger companies such as airlines can hedge against sudden price rises by buying fuel in advance.If the rise in costs of fuel is the last straw then please get in touch.
There are ways that we can help, especially if you have a debt that you could pay off over a period of 1 to 5 years. A time to pay scheme to pay off your tax over 12-18 months could be put together.
If the debt is larger and needs to be paid off over 3-5 years then perhaps a company voluntary arrangement or CVA could be the answer.
Call us on 0800 9700539 or call Keith direct on 07974 086779We have rescued a number of haulage companies. Some case studies below;