The world of business is no child's play. Anyone who has started a business before will testify to this fact. No matter which industry you are involved in, there is one thing for sure; you will face a lot of challenges. Different industries have different levels of risks and challenges and as they say; the higher the risk the higher the rewards. However, challenges are absolutely necessary in any form of business whether small or big. In order to fully take advantage of the opportunities the business presents, you need to defeat those challenges at all cost.

It can be compared to a gift wrapped up in a package. To see the gift and make use of it, you need to remove the wrap. So in essence, challenges in business are not necessarily a bad thing. It is a catalyst to better things to come. One has to see things from an entirely entrepreneurial point of view. In this article, I want to focus my attention on the truck rental industry. The choice has been informed by the fact that the commercial vehicle rentals industry is relatively new compared to some of the traditional industries such as finance and manufacturing. Though young, its impact on the economy is very good.

The truck hire space was born out of a need by the manufacturing and the retail industries to get rid of the cost burden of keeping in-house staff and vehicles. Their services have been very useful for small manufacturing companies especially, which cannot afford to keep a fleet of trucks on their premises. Over the years, the industry has grown as more and more businesses seek efficient means of making their products available to consumers.

The first challenge is finance. That is not so surprising given the fact that every business at some point goes through this circumstance. The truck hire business is inherently capital intensive. Its most valuable commodity is the trucks. These trucks must be available in various forms and sizes in order to meet the needs of different kinds of customers. For example, there are cargo trucks renting, panel vans renting and sometimes even trailer renting. To acquire and maintain them cost a lot of money.
The second challenge is related to administration. The company must be on top of administrative activities. The company needs to know which trucks are in good conditions and how much it costs to manage all the logistical aspects of the business. A well-organized staff will help make this easy.

The last but not the least is the issue of security. As a rental company, your trucks will be on the move all over the country carrying goods and services for customers from many different backgrounds. These trucks are a target for criminals. Handling the administrative aspects helps reduce the burden of security in terms tracking and insurance policy.