It may interest you to know that the Global Intelligent Transportation System market in roadways is likely to reach up to $72.3 billion of profit by the end of 2022. If talking about the past and recent stats, the transportation industry report says the warehouse and transportation market size expanded at a growth rate of 2.6% in 2019 in the United States only.
These statistics are revolving around the roadways transportation industry only. Whereas, the other types of transportation businesses and markets are making even better profits. And if you are dreaming of joining the league of successful transportation businesses, here is something meaningful waiting for you.
Legal measures to keep a check when starting a new transportation venture –
- Zoning – This means the legal restrictions of the physical area to kick-start your transportation business. For instance – if you have a low budget, thus starting the business from your home, it is important for you to know in which zonal area your home falls. If your residence comes under a zone that does not allow commercial practices, your running the office would be illegal. As per SBA, the Small Business Administration, the home-based business owners must keep a check on a few things including –
- Exterior changes to the home based on the requirements
- Expanding and getting permission for outside storage
- Traffic limitations including – number of resources, visitors, etc.
- Parking permissions
- Federal licensing requirements – The federal government has a set transportation protocol for each state or city. Therefore, any transportation business crossing its state or zonal lines becomes the subject to punishment by the federal authorities. In case you are not aware of the same, associate with DOT (the U.S. Department of Transportation). In this regard, IRS (Internal Revenue Service) says, “two state agencies have regulatory authority over the trucking industry in each state: the Public Utilities Commission and the Department of Motor Vehicles.”
- Safety – No matter what fleet of transportation vehicles you include in the business, keeping a check on the safety of vehicles and employees is a must to avoid any legal hassle. There are times when the vehicle and driver are involved in a road accident causing physical or property damage. To overcome such adversity, consult a trucking accident lawyer immediately to support your case legally. And to avoid any accident or such situations, maintain vehicles adequately, hire experienced drivers, never skip the vehicle’s service appointments, etc.
- Environmental laws – If running or starting up a transportation business in the U.S. abide by the regulations imposed by the EPA (the Environmental Protection Agency of the United States). Such regulations vary depending on the transportation business type and fleet of vehicles used.
Transportation businesses are one of the highly regulated business types in the world. It’s all up to the transportation business owner whether to understand and comply with the regulations or not. Those who join the league of transportation businesses with a long-term plan tend to abide by the rules and regulations. And in this regard, going for the above-mentioned ideas can prove highly beneficial.