Is the specialized freight (except used goods) trucking, local industry growing or shrinking?

The specialized freight (except used goods) trucking, local industry is stable with a net job creation rate of -0.7% per year. The entry rate is 13.1% and the exit rate is 14.2%.

Specialized Freight (except Used Goods) Trucking, Local — Business Survival Rate

An estimated 46% of specialized freight (except used goods) trucking, local businesses survive their first 5 years, based on U.S. Census Bureau Business Dynamics Statistics. The annual business closure rate is 14.2%.

46%

5-Year Survival Rate

-0.7%

Net Growth Rate

42,221

Total Firms

5,742

Annual Firm Deaths

Is Specialized Freight a Good Business to Start?

With a 46% five-year survival rate, specialized freight (except used goods) trucking, local is near the national average (~50%). This means roughly half of new entrants will still be operating after 5 years — typical business risk that rewards solid planning and execution.

The annual exit rate of 14.2% indicates moderate turnover. Success depends on differentiation, location, and operational efficiency rather than inherent industry advantages.

Entry vs. Exit Rates

Annual rate of new businesses opening versus existing businesses closing.

Entry Rate (new businesses)13.1%

Exit Rate (closures)14.2%

Net negative: more businesses closing than opening (-1.2 pp spread).

Job Creation & Destruction

14.9%

Job Creation Rate

15.6%

Job Destruction Rate

-0.7%

Net Job Growth

The industry is losing jobs faster than creating them — which may indicate automation, consolidation, or declining demand. Total employment: 499,501 workers across 42,221 firms.

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Frequently Asked Questions

What percentage of specialized freight (except used goods) trucking, local businesses fail?: Approximately 54% of specialized freight (except used goods) trucking, local businesses fail within their first 5 years. The annual closure rate is 14.2%, with 5,742 firms closing permanently in 2023.
Is the specialized freight (except used goods) trucking, local industry growing or shrinking?: The specialized freight (except used goods) trucking, local industry is currently stable with a net job creation rate of -0.7% per year. New businesses are entering at 13.1% while 14.2% close annually.

Source: U.S. Census Bureau, Business Dynamics Statistics (2023). Survival rate estimated from annual exit rates.