Elite Dangerous about a Pilot and their ship. Not a Pilot and their company. IF you want to play Air Hauler then go play Air Hauler. We also have to view we deal with Trading, Combat and Pirate.
Player created factions are no like squadrons. Player created factions are exactly the same as any other NPC faction. Basically they are NPC factions with just a player generated name and background.Expanding Squadrons to be more general and have tighter integration into the simulation could achieve this. Some Squadrons are also factions already (player factions). Just allow the Squadron leaders to make decisions that are usually simulated - set missions, set commodity demands, make trade routes/form contracts, make profit, initiate wars, etc.
This could work in the existing mission boards, just add more flavor text to why the mission is being offered (more than we have currently "smuggle 64tons of tea for democracy"). They already have a system for follow on missions which could build more of a personal story between you and the person offering the job.All I wish to bring back more lore and NPC personal interactions to the game. For example, we did a few quests for NPC, and we have more personal relations with him. Now he has a son serving on station attacked by thargoids and asking us to help evacuate people or fighting with invaders. The ideal scenario would be if Frontier Development would bring personal simulation to BSG as we can find in "Crusader Kings" but in the vein of Elite lore, with a hierarchy of NPC fighting for surviving and for power on the fringe and we interact with that hierarchy. BSG conflicts would generate personal drama, and drama would bring more story to the game.