New research reveals that six out of ten female small business owners who established their businesses before 2022 consider the past year to be the most challenging period for their enterprises. The study surveyed 1,000 female small business owners, with one in six reporting experiencing daily stress. This increase in stress levels may be attributed to a rise in women starting businesses out of necessity, as over a quarter of respondents indicated being let go or laid off before embarking on their entrepreneurial journey, compared to 14% in the previous year. The survey, conducted by OnePoll for Office Depot, also…
Author: Sam Allcock
Millions of individuals with innovative ideas believe they have the potential to make a fortune, but half of them lack confidence in their ability to transform their ideas into reality, according to a survey of 2,000 UK adults. The research revealed that more than one in 10 participants had a brilliant idea that they believed could lead to significant financial success. However, 40% of respondents agreed that establishing a “non-traditional” business model could be more challenging. The survey identified several obstacles that deter aspiring innovators, including a lack of financial resources (48%), limited networking opportunities (18%), and a lack of…
A recent study has revealed that working adults in their thirties are on track to become the wealthiest generation. The research found that individuals aged 30 to 39 earn the highest salary, save more, and have the most disposable income compared to other age groups. According to the study commissioned by Equity Release Supermarket and involving 2,000 adults, people in their thirties earn an average annual salary of £32,561. They also save £309 per month and have an average of £10,326 stored away in savings. Moreover, they have the highest disposable income of £382 per month and carry less debt…
According to a recent study commissioned by Santander Universities, it has been found that one in 10 university students in the UK are running their own businesses while pursuing their studies. The research, which surveyed 1,000 undergraduates, discovered that there has been a 50 percent increase in the number of student entrepreneurs, rising from 108,000 in 2018 to 162,000 at present. On average, these student ventures generate a monthly turnover of £411.67, which amounts to approximately £5,000 per year or nearly £15,000 over the course of a three-year degree. Additionally, the study found that 18 percent of students have plans…
A study of 2,000 Brits commissioned by Paragon Bank has found that the average adult spends the equivalent of a whole year worrying about money over their lifetime. The research revealed that adults think about their finances four times a day, for a total of 28 minutes. This amounts to 170 hours per year, equivalent to a full week. The study also highlighted the impact of money worries on mental health, with more than a quarter of adults admitting that financial concerns are bad for their mental well-being. The pressure of money concerns has become so significant that 15 percent…
According to a study conducted by Barclays Money Mentors, flatsharing Brits are not only losing out on friendships but also £552 per year due to unreliable housemates who fail to contribute financially. The research, which surveyed 1,200 individuals currently living in a house-share or who have done so in the past year, revealed that 54 percent of respondents felt worse off due to their unreliable flatmates. This amounts to a staggering £434 million annually across 747,000 households. As a result of these experiences, 66 percent of participants admitted to being hesitant about living with close friends, fearing that it may…
According to a recent study conducted on 2,000 adults, the average ‘comfortable’ adult in their sixties saves £237 per month for nonessential ‘big ticket’ items, such as holidays and new cars. The research also highlighted that individuals in their fifties prioritize saving for retirement while keeping some disposable income for later in life. In contrast, individuals under 40 tend to save for more practical purposes, setting aside just under £300 per month for house deposits, new furnishings, and starting a family. However, the study revealed that nearly one in six adults have faced difficulties in saving due to the impact…
A survey of 500 business leaders conducted by NerdWallet found that many business owners felt online-only banking offered better products and pricing structures. The British high street has seen quite the shake-up in recent years, with many traditional brick-and-mortar industries moving online – including a new generation of ‘faceless’ banks that operate without any physical branches. In a survey of 500 UK business leaders and decision-makers, NerdWallet wanted to know more about small businesses’ responses to this alternative way of banking – particularly during a time wherein secure business finance has never been more important. The survey found that almost half (44%) of business…
Energy experts have revealed that Brits are collectively spending hundreds of millions of pounds by leaving appliances switched on overnight. According to a report by energy supplier Utilita, the average British home has 10 unused items plugged in and switched on at any given time. Surprisingly, three in 10 households have electrical gadgets on standby despite not using them for over a year. Leaving a TV on standby alone can waste up to £16 of electricity over a year. When considering all homes in the UK, those with at least one TV waste a staggering £432 million on unnecessary energy…
In 2017, personal trainer Mark Robinson noticed the loyalty gymgoers had towards small American athleisure brands and drew inspiration from the UK phenomenon Gymshark. With just £250 in cash, he decided to enter the fashion industry himself, launching Just Strong. Assisted by his fiancée Heather, who volunteered as the brand’s first model and aided in day-to-day operations, Mark started the business from his garage in Keighley, West Yorkshire. Printing and packing clothes from their small home, sales began to soar, leading Just Strong to expand. The brand now operates out of a 10,000 square-foot warehouse in Bolton, Greater Manchester. Over…
Foster joins with decades of experience at leading accounting software firm Xero, overseeing the sales cycle and company growth London, May 25th – HedgeFlows, a financial toolkit for SMEs, has appointed former Xero Sales Director Glen Foster to its advisory board ahead of the launch of a new Accountants Dashboard. With his extensive experience in the accounting and financial services sectors, Foster will accelerate HedgeFlows’ expansion by championing its accountancy solutions to partners and prospective clients. During his 12-year tenure at accounting software giant Xero, Foster played a pivotal role in overseeing the sales cycle and driving company growth. Prior to joining…
A recent study has revealed that millions of Brits feel hesitant to hang up on scammers, considering it impolite to do so. Researchers found that UK residents receive over 150 million suspicious calls every week, with 60% reporting an increase in such calls since March 2020. Surprisingly, despite the inconvenience and potential risks, one in five adults believe that hanging up on a caller, even if they are a scammer, is rude. Another 20% feel obligated to remain on the line to listen to the caller’s pitch. The survey, conducted among 2,000 adults and commissioned by Santander, found that almost…
· Amid economic uncertainty, the total number of funding transactions to UK businesses is up by a third (30%) · South East and East Midlands are securing the most finance, but Northern Ireland and West Midlands see highest annual growth London, 24 May 2023: With the cost-of-living crisis and rising inflation rates reducing disposable income for households across the UK, businesses are once again navigating a challenging economic climate. Despite this, new research shows that businesses are prioritising investment to fuel growth – enquiries into funding have increased by a staggering 277% in the first quarter of 2023, compared with the same period last year. This has translated into decisive action from decision makers,…
Loch Associates Group, the leading Multi-Service Law and HR business has witnessed clients in the South East needing support with workplace immigration double this year, as companies are forced to look abroad due to regional recruitment challenges. Loch Associates Group, which helps clients in all sectors successfully apply for sponsorship licences and migrant worker visas, noted a growing number of local business owners are now conscious of the need for overseas recruitment as access to local talent has declined. Joe Milner, Partner and Solicitor Advocate of Loch Associates Group, said: “Whilst tensions rise in the UK Government around migrants and…
A new generation of Brits are trying their hand at investing as over half of (52%) millennials and Gen-Z (18-34-year-olds) take a stab at getting a return on their cash – more than any other age group, according to new research from Forbes Advisor[1]. The study analysed Brits’ investment[2] habits, revealing fewer than four in 10 (38%) of those aged 55-and-over invest despite being the wealthiest age group in the UK, and being nine times better off than the 30-34 age group[3]. The data reveals a shift away from the archetypal investor, suggesting investing isn’t the preserve of older, wealthier individuals with…
Wolverhampton and Mansfield have emerged as Britain’s most entrepreneurial locations, according to a recent survey conducted by SME insurance provider Superscript. The study analyzed data from the Office for National Statistics (ONS) to compare the number of small businesses per unitary authority in 2021 and 2022, taking into account the population of each area. Wolverhampton secured the top spot with a score of 0.48, followed by Worcester (0.20) and Carlisle (0.19) among the cities. In the towns category, Mansfield came out on top with a score of 0.38, closely followed by Blackburn with Darwen (0.30) and Luton (0.22). The growth…
A study of 2,000 Brits has revealed that almost a quarter of them struggled to cover essential expenses during the pandemic, including food, internet, and mobile phone data. Concerns are rising as government funding and support programs, such as furlough, universal credit uplift, and the renter’s eviction ban, are set to end later this year. About a third of respondents believe this will have a negative impact on both the financial state of the nation and society as a whole. The survey, commissioned by Tesco Mobile and Crisis, aims to emphasize the importance of digital connection in supporting those at…
A survey conducted among 500 SMEs has revealed that three-quarters of small business owners have had to transfer the burden of increasing costs onto their customers. As overheads continue to rise, 86 percent of businesses are taking measures to minimize expenses and either keep prices stable or reduce further price hikes. Among the strategies employed, careful monitoring of energy bills (33 percent), seeking out cheaper suppliers (33 percent), and implementing a hiring freeze (28 percent) are common practices. Unfortunately, 26 percent of small business owners are even working unpaid hours to alleviate the financial pressure. The primary contributing factors to…
Big Issue Invest (BII) has announced a £150,000 investment in Meanwhile Space CIC, a social enterprise that transforms vacant and underused spaces into community hubs for micro-enterprises, the money will help them undergo a major restructure. BII, the investment arm of the Big Issue Group, has a long-standing relationship with the social enterprise, and has provided £375,000 in loans to Meanwhile Space over the last five years. Meanwhile Space is a social enterprise that has been operating for 13 years across London and the South East. It creates vibrant communities by bringing temporarily redundant space into productive use. Meanwhile unlocks underused space…
A recent study conducted on the nation’s high-street businesses reveals how they are responding to and overcoming the impact of record energy prices, staff shortages, and reduced customer spending. Researchers discovered that small and medium-sized enterprises (SMEs) are implementing innovative strategies to address rising costs while prioritizing customer satisfaction. Jon Shephard, owner of Matches Sports Bar in Ashford, faced a significant 167 percent increase in utility bills, as well as higher supplier costs for beer and menu ingredients (20 percent and 15 percent respectively). In response, the bar collaborated with a local brewery to create its own house beer, offering…
The top 10 things that Brits look for when considering a new job have been revealed, with a focus on salary, working hours, and good health benefits, according to research. A survey of 2,000 workers found that regular salary increases were the most important factor, followed by a minimum of five weeks’ annual leave and flexible working hours. Other desired benefits include the ability to work from anywhere, opportunities for promotion and career advancement, a health plan or wellbeing benefits, a supportive and friendly team, and good sick pay. Additionally, a four-day working week and an extensive training scheme were…
A survey of 5,000 working adults has revealed that over half of Gen-Z and Millennials are inclined to stay with their current employers for an extended period, despite being at the early stages of their careers. According to the study, 35 percent of individuals between the ages of 18 and 34 expressed a willingness to remain with their current company long-term due to the availability of opportunities for skill development. Additionally, 34 percent believe they have a clear pathway for advancing into new roles within their organization. Strong relationships in the workplace also contribute to the loyalty observed among younger…
A recent survey of 1,600 hiring managers across prominent industries in the UK has revealed that a significant portion of law firms and financial services companies continue to maintain elitist hiring practices. The study found that 41 percent of law firms and 25 percent of accountancy, banking, and insurance companies are unlikely to consider candidates without a degree. What is even more concerning is that 52 percent of legal and 51 percent of financial services companies surveyed stated that they would only consider candidates from a select group of universities. These universities include Oxford, St Andrew’s, Cambridge, LSE, Imperial College…
BT, one of the UK’s leading telecommunications companies, has recently announced a significant workforce reduction plan aimed at streamlining operations and improving efficiency. The company plans to cut up to 55,000 jobs by the year 2030, marking a significant shift in its organizational structure. This article delves into the details of BT’s workforce reduction plan and explores the potential implications for employees and the company as a whole. BT’s ambitious workforce reduction plan, involving the cutting of up to 55,000 jobs by 2030, is a strategic move aimed at driving efficiency, embracing technology, and remaining competitive in the telecommunications industry.…
The global business landscape is home to exceptional individuals who have amassed tremendous wealth through their entrepreneurial ventures. In 2023, several influential businessmen continue to dominate the ranks of the world’s richest individuals. In this article, we will delve into the lives, achievements, and staggering volume of wealth held by the top 5 richest businessmen. The top 5 richest businessmen in 2023 have achieved extraordinary levels of wealth through their entrepreneurial endeavors. From revolutionizing industries to creating technological breakthroughs, these individuals have left an indelible mark on the business world. As their net worths continue to rise, they serve as…
Paying taxes is a civic duty that supports the functioning of governments and public services. While the deadline for tax payment may seem distant, delaying or neglecting your tax obligations can have significant consequences. In this article, we will explore five compelling reasons why paying taxes on time is crucial for individuals and businesses alike. Paying taxes on time is not only a legal obligation but also a responsible and prudent financial decision. By meeting your tax obligations promptly, you avoid penalties and interest charges, maintain a positive relationship with tax authorities, preserve your credit score and financial reputation, avoid…
FTX, a once-prominent cryptocurrency exchange, garnered attention for its innovative features and aggressive marketing strategies. However, despite initial success, FTX faced significant challenges that ultimately led to its failure. In this article, we will explore the key factors that contributed to FTX’s downfall, providing valuable lessons for entrepreneurs and investors in the cryptocurrency industry. FTX’s failure highlights the challenges faced by cryptocurrency exchanges in a rapidly evolving industry. Regulatory compliance, robust security measures, liquidity management, effective marketing, and constant innovation are vital for sustained success. Entrepreneurs and investors in the cryptocurrency space should learn from FTX’s shortcomings and prioritize these…
With the rapid growth and global acceptance of cryptocurrencies, many investors are seeking opportunities to capitalize on this digital revolution. However, with thousands of cryptocurrencies available, selecting the right ones for investment can be challenging. In this article, we will delve into the top five cryptocurrencies that exhibit strong potential for investment in 2023. It is important to note that cryptocurrency investments come with risks, and thorough research and consultation with a financial advisor are recommended before making any investment decisions. Investing in cryptocurrencies requires careful consideration and a deep understanding of the market dynamics. While Bitcoin remains a popular…
Launching a startup requires more than just a groundbreaking idea and a solid business plan. One of the most critical aspects of startup success is securing adequate funding to support growth and development. In 2023, the startup funding landscape continues to evolve, presenting entrepreneurs with both traditional and innovative avenues to raise capital. This article aims to provide insights and strategies to help startups raise funds effectively in the current entrepreneurial ecosystem. Raising funds for a startup in 2023 requires a multifaceted approach, leveraging both traditional and emerging funding avenues. Tailor your funding strategy to align with your startup’s stage,…
Building a healthy bank balance is an essential aspect of achieving financial stability and reaching your long-term financial goals. Whether you’re looking to save for a major purchase, build an emergency fund, or plan for retirement, increasing your bank balance requires a combination of smart financial habits and strategic decision-making. In this article, we will explore practical strategies that can help you boost your bank balance and pave the way towards financial growth. Increasing your bank balance requires discipline, commitment, and strategic financial planning. By creating a budget, reducing debt, automating savings, exploring additional income streams, optimizing expenses, and investing…
In the ever-evolving world of cryptocurrencies, Ethereum has emerged as one of the most prominent players. As investors seek diversification and potential growth opportunities, the question arises: Should you invest in Ethereum? This article aims to provide an overview of Ethereum and key factors to consider when evaluating its investment potential. However, it’s important to remember that investing in cryptocurrencies carries inherent risks, and thorough research and consultation with a financial advisor are recommended before making any investment decisions. Understanding Ethereum: Ethereum is a decentralized blockchain platform that enables the development and execution of smart contracts and decentralized applications (DApps).…
Investing in the stock market can be a lucrative opportunity for long-term wealth creation. As we step into 2023, investors are eager to identify promising stocks with the potential for significant growth. While it’s essential to conduct thorough research and exercise due diligence, this article aims to highlight 10 stocks that show promise for investment in 2023. Please note that investing in stocks carries inherent risks, and it’s crucial to consult with a financial advisor before making any investment decisions. For more comprehensive information on how to manage your finances effectively, check out this https://www.investmentguide.co.uk/
In today’s digital era, marketplaces have become a thriving platform for entrepreneurs, businesses, and consumers alike. The convenience, reach, and potential for growth offered by marketplaces are unparalleled. However, managing payments within a marketplace ecosystem can present unique challenges. To ensure smooth operations, build trust, and maximize profitability, it is crucial to implement effective strategies for managing marketplace payments. In this article, we will explore key tips and best practices to help you navigate the complexities of marketplace payments successfully. Effectively managing marketplace payments is a critical aspect of running a successful and sustainable marketplace. By establishing a secure payment…