Trying to achieve a healthy work-life balance

Work-Life Balance As An Entrepreneur Is Tough. Here’s How We Make It Work

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There’s been a lot of talk about work-life balance lately. Over 70% of children in the U.S. live in a household in which both parents work, which makes parenting so much more challenging than it used to be. It’s tough to know how much work is too much, but overworking is a real problem. It takes a toll on both mental and physical health, but it’s tricky to avoid. This is especially true for business owners. 

As a family-owned business, the BYX team is intimately familiar with the work-life balance struggle. It’s extra tricky today with an ongoing labor shortage. Fortunately, we’ve learned a thing or two in our decades of successful business ownership. These nine tips help us keep our work life and home life in equilibrium. (Well, most of the time!) Read more

Rising insurance costs

Rising Insurance Costs and What It Means for Trucking

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The past few years haven’t been easy for the trucking industry. In addition to the supply chain crisis that was made drastically worse by the economic impact of the COVID-19 pandemic in 2020, we’ve also faced a persistent driver shortage, rising gas prices, an automation evolution and shifting client expectations. While fleet owners have been scrambling to find solutions to all of that, insurance costs have crept up in the background. Rising insurance costs has now become so substantial that ignoring it is no longer an option.

Over the past decade, insurance premiums have risen by 47%

The latest report by ATRI, the American Transportation Research Institute, found that insurance premium costs per mile increased by nearly half over the course of a decade, rising from 5.9 cents to 8.7 cents. Insurance rates also fluctuate substantially. Fleet owners hop on an unpleasant roller coaster ride when it’s time to renew coverage each year.

The last four years have been especially challenging. Between 2018 to 2020, virtually all motor carriers saw substantial rises in insurance costs. Despite efforts to improve safety and lower risk, insurance premiums continue to creep up. Read more