Financial Sourcing Specialists
Equipment capital and operating costs for transportation companies can be exorbitant for both start-ups and established enterprises. Predictions for the remainder of this year suggest that transportation will experience a moderate upswing due to positive trends in the industry. But even in the best of times transportation companies must run efficiently to yield gains in a sector governed by paper thin profit margins. Labour, fuel, maintenance and escalating equipment costs are formidable obstacles in the quest for profitability.
It pays to identify savings at every level of operation. One method of doing so is by sourcing government programs, many of which are unfamiliar to line haul and off road companies. AKR Consulting Canada Inc. spoke with Ontario Trucking News at the recent National Heavy Equipment Show in Mississauga. AKR’s business is to help clients in trucking and other industries access government funding in the form of rebates, subsidies, refunds, tax credits and grants. AKR, managed by industry experts in accounting, engineering, science, and plant operations, has been assisting Canadian companies since 2003. AKR was founded by Bonny Koabel who built the company in response to a growing need to help businesses access funding opportunities.By way of example Koabel drew attention to several programs many trucking companies may benefit from. “Funding programs that are currently available are hiring grants up to $6,000 per new hire, unlicensed equipment fuel rebates up to $0.147/litre retroactive for 4 years, and Apprentice Refunds up to $12,000/year. AKR offers a free consultation to analyze funding opportunities for each client,” she said. Additional rebates, retroactive up to 4 years with some programs, are available for refrigerated trucks and dump trucks.
As one of this country’s largest and oldest funding companies, AKR prides itself on covering a wide range of funding programs, particularly for small to medium sized companies. A high funding approval success rate, a hallmark of AKR’s reputation, is due to experienced advisors and the submission of applications they feel will be approved based on their knowledge of government criteria.
AKR Consulting assists with other services too, among them tax credit claims enshrined in such government incentives as the SR&ED Program that awards claimants with cash refunds and tax credits for expenditures on research and development. AKR will submit claims on behalf of clients and help to structure future tasks in order to minimize costs.
Standing alongside tax credit claims are corporate services. AKR will assist with incorporation, statutory requirements, accounting systems and internal controls, including HST, ETD, EHT and WSIB files. In addition, its expertise in Human Resource Management well positions the company to advocate on behalf of clients for cost effective group benefit insurance programs, EI exemptions and wage subsidies.
Bonny Koabel confirms that AKR Consulting “has gained a tremendous amount of knowledge over the years that helps clients identify areas of funding that may be available to them,” a statement reinforced by the claim that financial recoveries have been gained in 80 percent of the businesses AKR has reviewed.
More information on funding opportunities is available on their website, www.akrconsulting.com, or by calling 905.678.6368.☚