When I think back to April 2009 and how the recession
affected us, there were many factors putting us under pressure. First we had gone through a period of rapid growth with increasing
numbers of customers using account facilities; secondly we registered for VAT and it meant a lot of changes in
our accounting systems; third we had tiny overdraft facilities; fourth
our old booking system was on its last legs and lastly; we were launching our
new booking system with the biggest change and investment we had ever
made. It took all of our savings, removed any financial safety net and required a migration which consumed considerable.
Admittedly, the booking system was 50% grant funded but the
level of uncertainty surrounding the financial support was stressful because it
removed control from our company which made it very difficult to plan.
In addition to all of this, our old (home grown) booking system was struggling
to cope with the volumes of work we were putting through it and needed constant
attention from myself to keep it running. What is more, our drivers were
accustomed to a level of income that they expected to continue and questioned
my decisions constantly as they saw their earnings decrease – it was unpleasant
to say the least.
Sometimes when I think back to three years ago I giggle and question
if I was completely mad? Looking at our situation today, we are in a much more
comfortable position. First, we have the experience as a team to take tough
decisions (and react quickly). Second, we have considerable credit facilities
should we need them. Third, our cash flow is significantly better. Fourth, my
time is more flexible and readily available to deal with emergencies. Fifth, our IT
systems are stronger, more modern, incredibly efficient and externally managed.
Sixth, our payments to drivers take less time to manage. Seventh, we have early
warning systems should anything change unexpectedly and finally - above all
else we are settled.