grumpy wrote:
cabbyman wrote:
Personal experience:
Our company has 38 shareholders, 32 non-shareholders. We have an AGM every year where questions are asked and answers given. There is an election at that AGM for those who wish to join the 'committee' of 5 directors. There are sometimes defeats or retirements.
We don't issue more shares, instead trading shares when someone wishes to leave. Going rate £1000-£1500.
Radio fees (settle?)- £350pcm share; £98pw non-share. 100% HC - Saloon & WAV.
We are the largest company in the borough; the large majority having an interest in the health of the company.
For my sins, I am company secretary.
I am aware of another member on here who holds the same position as me in a company that runs on similar lines in a nearby borough who are also very successful.
If the drivers have a stake and a voice, everyone pulls together and supports the overall aims.
with very few amendments (mainly numerical), I could have written that.
a few footnotes to my post-
our company has an upper limit of 25 cars (can go to 30 if work available ie contract). all licensed taxis, no ph.
all are owner driver/rented from 3rd party (no system cars) not all are shareholders. we took the decision to allow non plate holders radio renter status approx 3 years ago. at present we have 22 cars (17/5 ratio IIRC).
shares are £100. this is refunded if you leave the company.
there is no remuneration to the directors. ( a truly thankless job)
3 directors take car of the day to day stuff. all major decisions are dealt with at a general meeting of the shareholders. (majority vote of attendees is adopted, renters go with decision or leave).
there is a weekly radio rent of £100 per car (no double shifter cost) this is purely to pay for the upkeep of the office, staff, VAT etc.
this system has been successful for over 26 years. change is inevitable (a merger with another company still a possibility), but will it improve on the above? who knows?
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