It's been nearly a month since I posted a blog. Truth is I've taken some
time out to reflect on things. After developing our new web site (which is yet
to be published) and other projects coming to completion (such as software
updates) I’ve been considering what is next.
I've really needed to ask myself if DrivenByQ is where I want to be. The
company is in a very comfortable position. Over the last twelve months we have
developed a new business plan; marketing plan and growth calculations but they all
revolve around our accounting system.
Since becoming VAT registered we have used the flat rate scheme. This fundamentally
feeds 10% of turnover in to the business. For a long time we have relied on
that additional 10% as a subsidy – it has permitted lower commission rates for drivers
while funding investment.
As we near the £230,000 VAT inclusive limit, the prospect of losing a ten
percent subsidy throws a spanner in the works. To achieve the same level of profitability
a complete change in the make-up of DrivenByQ is required along with a considerable
investment fund.
In my mind, the company needs to tick-over for the next two years while an
investment pot builds. It was the reason for altering the commission rates
towards the end of last year. So, going back to my reflection – is an ambitious
chap the right person to be a care-taker? Hmm
