On The Up

Since the start of this year our figures have improved. Not just slightly but quite considerably. That means we are generating revenue and it means we are revisiting the plans we placed on hold two years ago.

When the financial crises hit the headlines in September 2008 we were aware of the news and exercised caution but there was no visible effect on our turnover. We remained cautious in to 2009 but still there was no effect. We began to think we were immune and perhaps we should carry on regardless?

In April 2009 the impact of the recession struck. Bookings stopped and our drivers had time on their hands. We abruptly encountered a different situation. Our cash flow suffered, our profits disappeared and plans for growth were put on hold.

A veteran of two recessions offered me some advice. He simply said “Don’t spend a penny!” and with hindsight he was right. The danger now is holding that position for too long and I believe at some stage we have to start action for growth. With revenue increasing, the big question is, should we start spending?