So far it's been a great year for Bliss, we're continuing to grow as a business and we're seeing the number of customers on our network increase at a steady rate. Alongside this we're delighted to announce that we've been short-listed for the most promising new business award by the Barnsley and Rotherham Chamber of Commerce, something we would have never anticipated when we were first setting the network up. From the very start we've built our business around the local community in Treeton, and we'd like to start this message by saying a big thank you to each and every one of you who have helped us get to where we are today.
Back in March we promised to lower our prices once we reached 300 customers as a way of giving back to the community, and this is a target that we would still very much like to keep in place, however with the milestone rapidly approaching it looks like we're going to have to scale back on the promise for now.
Unfortunately continued business growth comes hand in hand with increased costs. We've recently become VAT registered as a business, instead of increasing our plan prices by adding VAT to customer bills, we decided to keep the plans at the same level and absorb a 20% loss in revenue. We've also identified areas of the network that will soon need significant investment in order to keep up with the increased demand from new sign ups. All of this coinciding with the approach of our 300 customer milestone means that a further 10% loss in revenue is something our accountants say is just not possible right now. We would however still like to celebrate the milestone with as much money off as possible, and we will be announcing a price drop of around 5% for all customers old and new when we reach 300 customers in the next few weeks.
We're aware this isn't the best news given our earlier promise, but bear in mind many of the other big internet providers satisfy their accountants by just increasing your bill and sending you a letter in the post to notify you. This is something Bliss would never even consider, and we're going to continue to work as hard as we can to lower the prices as much as is possible for a business of our size.
We hope to announce some big upgrades soon, and once those are complete some further price drops to help us remain competitive and continue supporting the community with a great service.