25 Jul A drop in UK taxi turnover and how to fight back

It has been announced recently that according to the latest research, the UK’s top 100 taxi firms have suffered a drop in turnover for the first time in 5 years.

Prior to this last year, the taxi industry had been steadily increasing turnover each year by at least £30 million. There has recently been a trend of decreased car ownership, especially in urban areas. This meant that demand for urban mobility had been increasing, leading to this previously increasing turnover.

Things were looking good for the industry, so what went wrong?

The reason for the decline now is, of course, Uber. They have managed to disrupt the industry due to their masses of capital and a disregard for regulations in many places. Customers have become used to the convenience and ease of booking with these apps, so are taking their trips away from local firms.

The solution for the industry’s problems is technology.

By utilising the type of technology that Uber disrupted the industry with, local firms can begin to compete again. As the tide of opinion continues to turn against Uber, now is the perfect time to do this. Customers want firms they can trust, with the ease of smartphone technology.

Zoom offers the opportunity for this, on a unique ‘pay-as-you-earn’ basis.

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