New credit act restricts growth for small business

SMALLER BUSINESSES looking to expand to take advantage of the thriving freighting market are struggling to secure loans to take operations forward. “We have looked into getting our own trucks to meet the ample cargo suppliers on hand, but the banks are very sticky about awarding loans, even when I can get a signed 5-year contract,” transport broker Justin Benade of J and F Freight told FTW. Benade feels the National Credit Act is stunting the growth prospects of a number of smaller and emerging freight businesses. “There is a need for fifty tippers on one hand, and that’s one dot. You have on the other hand a transporter who can supply fifty trucks, and that’s another dot. That’s where I come in. I connect the dots,” Benade explained. “It’s a matter of getting the timing right, but at this stage, there is a gross shortage of trucks available to meet the available loads.” The company services the Zambian and Angolan markets as well as those in Botswana and Mozambique. “Our local operations are also taking off, and with the seasonal citrus exports coming up, we are going to be very busy over the next few months.”