In recent years, small businesses have jumped on the TikTok train to get their name out there, with many being lucky enough to reach viral fame.

Naturally, the platform’s vast popularity has attracted competition, including from fellow social media giant Instagram, which introduced its new video editor “Edits” app on Tuesday. Some are already calling it a CapCut clone (CapCut being the name of TikTok’s video editor).

This isn’t the first time Instagram has dipped its toes into TikTok-like features. It also released Reels in 2020 as an answer to short-form video content. However, the launch of Edits marks a bigger push to compete directly with the platform.

Below, we’ll explain what Instagram Edits is, and how small businesses can use it to their marketing advantage.

What is Instagram Edits?

Described as a “video creation app designed for creators”, Instagram Edits was launched on Tuesday. The new app offers tools for users to film and edit video content, as well as access analytics on content performance.

Available on the Apple App Store and Google Play Store, the platform’s features are similar to those offered by TikTok’s CapCut editor, including background removal, auto-captions and artificial intelligence (AI)-powered tools to turn static images into videos. 

Instagram has also teased additional features on the way, such as more options for sound effects and royalty-free music, AI editing tools, and the ability to collaborate with team members by sharing video drafts for feedback.

Edits was first announced when TikTok was briefly unavailable to US users. Instagram teamed up with a group of creators to test and improve the app in preparation for its launch.

At the time, head of Instagram Adam Mosseri commented: “There’s a lot going on in the world right now and no matter what happens, we think it’s our job to create the most compelling creative tools for those of you who make videos for not just Instagram but for other platforms out there.”

Mosseri also acknowledged that while Edits had similarities to CapCut, he stated on Threads that Edits will be “more for creators than casual video makers”. He also claimed the app will offer a “much broader range of creative tools and probably a smaller addressable audience.”

TikTok’s dominance in social commerce

It’s obvious why Instagram might take a page out of TikTok’s playbook. TikTok isn’t only dominating the short-form video scene — it’s also become a major player in social commerce, turning casual scrolling into sales. 

According to TikTok Newsroom, the platform is home to over 1.5 million UK businesses. TikTok’s news team reports that its TikTok Shop is to be the fastest-growing online retailer in 2024, with a 131% annual increase in the number of shoppers.

Moreover, with the launch of TikTok’s new SME Council — which aims to give small businesses a stronger voice and empower them to influence the platform’s policies — Instagram is facing some steep competition when it comes to winning over businesses. 

Will Edits steal the business spotlight?

Instagram Edits’ features will enable businesses on the app to expand on their marketing efforts, engage with new trends, and find collaboration opportunities with other brands.

While TikTok boasts a lot of business users, Instagram also has the larger customer base, with around 33.4 million active users in the UK. Combined with Instagram Edits, this engaged user base gives businesses based on the platform plenty to capitalise on.

Moreover, following the uncertainty around TikTok’s future in the United States, UK brands that sell to US customers may be tempted to move to Instagram to ensure they don’t lose out on this important customer profile.  

As Edits is brand new, its parent company, Meta, said that it will actively listen to customer feedback to further improve the app in the future.

The company stated: “This is just the first step in making an app that helps you create your best videos, and we plan to keep evolving and improving Edits based on your feedback.”

Job hopping has become somewhat of the norm in today’s market. Even now, as job security is uncertain and firms are being forced to consider redundancies this year.

Naturally, young workers with shorter CVs are most likely to hop onto this trend, as research from LiveCareer reveals that Gen Z employees are less tied to the idea of a “job for life”.

However, with rising overhead costs and the UK’s slowing job market, many businesses have put hiring on hold, meaning that younger workers may need to press pause on changing jobs, as new opportunities become harder to find.

The younger generation is quicker to jump ship

More and more people are ditching the idea of sticking with one job for years, and it’s the younger generation that is leading the charge.

The report by LiveCareer, based on an analysis of over 369,000 CVs, has revealed that most UK workers now change jobs every 2.6 years. 

It also found that younger workers aged 16-24 are the most likely group to move between roles. LiveCareer’s analysis suggests that many see it as a strategic way to adapt in the changing workforce. Research by Hays also found that just 15% of employees in this age group expect to remain in one job for more than five years, compared to 43% of over 50s.

Gen Zers may not be hopping directly into a job, however. One reason younger workers are switching careers is the desire for extended breaks, sometimes referred to as a “quarter-life gap year.” In fact, 28% of workers aged 18-24 have already taken time off work. 

Salary dissatisfaction also plays a major role, as 89% of UK employees reported being unhappy with their current pay. Finding a new job can often be a shortcut to a quick pay rise for those in the early stages of their career.

Employers are hesitant to hire job hoppers

Job hopping – which once had a bad rap for lack of commitment – is much more accepted in today’s job market. According to LiveCareer, it’s particularly rife in sectors like tech and marketing, which encourage professionals to gain different experiences to stay competitive.

That being said, employers still show concerns about frequent career changes. 42% of hiring managers are less likely to hire job hoppers, according to the Hays report.

Even if it’s becoming the norm, job hopping leaves employers with increased recruitment costs, as they have to spend more time and resources hiring and training new staff.

Additionally, high turnover can impact productivity, as it takes time for new employees to get up to speed and become fully effective in their roles.

Hiring pauses could force younger workers to stay put

Following the increase in employer National Insurance Contributions (NICs), plus the hiked minimum wage introduced in April, many UK businesses have put hiring on hold. 

This has led to a slowdown in the UK’s job market, with job listings declining by 23% compared to the previous year. 

The tightened job market could put a stop to younger employees’ job hopping ways. Many may now rethink their career changes and consider staying put for longer, as new job opportunities are now harder to come by.

Moreover, with more businesses expecting to carry out workplace redundancies – which has increased from 22% to 27%  – even those who manage to secure a new role risk being laid off not long after starting. 

Decadent client lunches, last-minute meetings, and work trips abroad – it all adds up. Perhaps more than you’d think. 

According to a new study by Airwallex, employees are forking out over £4,000 a year, on average, to cover work-related expenses. 

Coupled with the added frustration of delayed reimbursements, this could lead to financial strain. And during the ongoing cost-of-living crisis and stagnant wage growth, the pressure could be too much for some employees.

Client lunches eat into pay checks

The study by Airwallex surveyed 2,000 UK employees and highlighted the financial strain on employees caused by delayed reimbursements for work expenses.

Data showed that 45% of employees, and 68% in London, are fronting the cost of work expenses with their own cash. 24% of these costs occur at least once a month. 

In total, employees spend an average of £4,255 per year on work-related expenses. This could include client lunches, travel costs, or mobile phone bills. 

According to Airwallex, this figure was found to be particularly tight among staff on less than £30k per year, some of whom are having to borrow money to cover costs.

Among higher earners (those who earn over £100k), work expenses can total up to £20k, or 20% of their salary. Airwallex reports that most of this money is spent on entertaining clients with food, drinks, and events.

Late payments

Not only are employees racking up significant expenses, but they also aren’t being reimbursed on time. 

It’s a problem even for those on larger salaries. Half of those earning over £100k say they feel financial strain while waiting to be paid back. So, even high earners aren’t immune to the pressure that delayed repayments can cause.

Beyond the financial stress, late reimbursements can create tension between staff and management, which may affect morale and make it harder to hold onto top talent.

One real-world example shared on Reddit shows how uncomfortable this can be in practice. An employee was sent on a business trip to Dubai by his new employer. 

Though his flights were covered, he was asked to pay upfront for his travel to the airport and claim it back later. Since he hadn’t yet received his first salary, he couldn’t fund the journey, leaving him feeling embarrassed before the trip had even begun.

It’s an example of how expecting workers to bankroll work expenses can leave people feeling awkward at best, and financially stretched at worst.

Why does it matter for employers?

Employees and employers alike are already grappling with the ongoing cost-of-living crisis. Rising inflation and soaring living costs, paired with stagnant wages, are putting increasing pressure on personal finances.

Against this economic backdrop, asking employees to front up to £4,000 out of pocket is more than just inconvenient, it’s out of touch. Not only does it put staff in difficult financial situations, but delayed reimbursements can also chip away at morale. 

Over time, that strain can lead to reduced productivity, disengagement, and even higher staff turnover, costing businesses far more than a timely repayment would.

In order to minimise the financial burden placed on your employees when claiming back expenses, it may be a wise move to adopt payroll software. 

Adopting payroll software helps ease the financial burden on employees by speeding up expense reimbursements and reducing errors. Payroll software can also provide greater transparency for both employees and employers. Staff can easily track the status of their claims in real time. 

In today’s climate, it’s a smart way to support staff and improve retention. When employees are confident that their out-of-pocket expenses will be reimbursed quickly and accurately, they’re far more likely to stay engaged, motivated, and focused.

For UK startups and small businesses, the pressure is on. In an already-tight economy, an increase in employer National Insurance has now begun adding to existing financial strain, leaving many wondering how to navigate the new tax year without resorting to job cuts.

In answer, Startups is today releasing our free report on the workforce, entitled ‘How to avoid redundancies in FY26’. We surveyed a cross-sector sample of 531 UK SME founders, owners, and C-suite execs — all of whom work in firms founded in the last five years.

The findings reveal three key challenges facing businesses: managing tax burdens, balancing operational expenses, and addressing skills shortages. These pressures are forcing leaders to rethink how they operate, with a focus on preserving their teams, which 39% of respondents consider to be their most valuable asset.

Beyond the spreadsheets and forecasts, this report reveals the human stories behind the numbers. We’ll cover the tough decisions facing business owners this year, and reveal the creative solutions they’re exploring to safeguard their workforce in uncertain times.

Read on for a glimpse of the findings, or click the pop-up to view the full report now.

What’s in our free report?

From pay rises to mental health, ‘How to avoid redundancies in FY26’ uses our survey data to explore the key trends shaping the workforce this year, and discover how SME leaders can strike a happy medium in an extreme business environment.

For practical guidance, we’ve partnered with contributors from the 2025 Startups 100 Index, our list of the UK’s fastest-growing startups. These case studies offer real-world business examples to inspire, validate, and educate you.

Here’s a breakdown of the key findings:

Wage strategies

88% of businesses will raise pay for employees despite hiring freezes.

Startups has found that ‘thriving’ businesses in the UK credit their success to a talented and motivated workforce. Our report looks at why talent retention will be the focus for this year, and shares wage strategies to reward teams without risking cash flow.

Flexible working

86% of firms will switch to a new workplace model this year.

While large corporations push for a return to the traditional office, our survey finds startups are staying flexible. Startups’ report digs into the real remote work statistics, explores the latest alternative working models, and asks the experts about the ‘return-to-office’ trend.

Training and development

64% of bosses will prioritise soft skills over hard skills this year.

Technical skills form the foundation of many startups, but our report finds that growing firms are in desperate need of soft skills. We share our top tips for upskilling, and examine how the shift towards emotional intelligence in the workplace will impact L&D in the era of AI.

Employee wellbeing

More than 9 in 10 SME leaders support the Right to Switch Off.

Our data shows that business leaders care about employee wellbeing, but feel pressure to push for productivity and follow the ‘hustle-culture’ narrative. We explore how to balance growth demands with the desire for positive company culture.

Entrepreneur mental health

First-year founders are least confident about the next 12 months.

Of firms less than a year old, 13% of founders report poor mental health – higher than in any other stage of business growth. We explore entrepreneur wellbeing in-depth, and hear from successful founders on how to build resilience in the workforce and the boardroom.

Why have we released our report?

Job cuts aren’t just bad for morale; they’re also the most obvious sign of ill health in a nascent business. Just as hiring new talent can unlock new growth trajectories for your startup, losing staff can put them in reverse.

Holly Leckenby Rye, Senior People Manager at Online Care Finder Lottie who also contributed to the report, puts it best: “startups like us rely on strong teams to scale”.

Still, there is no denying that the cost of employment is rising. Company strategies are narrowing. Niche digital skills are increasingly in-demand; driving up pay and necessitating generous benefit packages at a time when employer tax bills are also surging.

That’s why our report matters. While it can’t guarantee financial security, it provides critical insights into safeguarding jobs and building a sustainable people strategy in FY26.

For timely insights and analysis of all SME developments, subscribe to our weekly newsletter, and make smarter business decisions this year.

Amid sobering pub sales since the start of this year, hospitality businesses have enough crisis to contend with. Trading standards have recently been cracking down on drinks that don’t quite measure up. 

Last week, Oxfordshire County Council reported it carried out undercover inspections in Oxfordshire to check whether alcoholic drinks were being served in legally required quantities. Over half were found to be under the limit.

As the cost of living crisis rolls on, pubs and bars need to ensure their loyal customers don’t feel short-changed. That’s why it’s essential for staff to ensure they aren’t stinging drinkers with short pours.

Consumers left high and dry

Earlier this year, trading standards officers from Oxfordshire County Council posed as members of the public in pubs across Oxfordshire.

The team ordered wine, beer, and whisky at various establishments to check whether drinks were being served in the legally required measures. 

Of the drinks ordered, wine drinkers had the most to whine about. The officials found 12 out of 16 glasses of wine, or 75% of all drinks, were short pours. As well, one out of two shots of whisky were under the legal measure.

Beer drinkers will be relieved, as all of the pints ordered during the undercover inspection were found to be properly poured.

What are the standard measures for alcoholic drinks?

The Weights and Measures (Intoxicating Liquor) Order 1988 sets out the legal serving sizes for beer, wine, and spirits in the UK. 

According to the law, draught beer and cider must be sold in 1/3, 1/2, or full pints—or multiples of half a pint — and the glass must be filled to the brim.

Spirits such as gin, rum, vodka, and whisky must be sold in 25ml or 35ml measures, or multiples of those. Wine can be served in 125ml or 175ml glasses, or multiples of those sizes. Fortified wines like port and sherry must be served in 50ml or 70ml measures, and multiples.

It’s essential that pubs comply with these exact measurements. If not, they risk breaching consumer protection laws.

To stay in the clear, staff can use measurement tools, commonly known as jiggers, to perfect their pours. While free pouring may look slick behind the bar, it often results in customers receiving less than they’ve paid for.

Why does it matter?

Hospitality businesses have been working hard to stay afloat amid the cost-of-living crisis and the fallout from the pandemic. 

With consumer spending already low, pubs, restaurants, and bars are feeling the knock-on effects. A rise in employer National Insurance Contributions (NICs) and minimum wage has also made it more expensive for hospitality businesses to pay staff.

Loyal, local customers are essential in hospitality. With many businesses already having to raise prices or add extra charges to survive, maintaining patrons’ trust by offering them good value for money is vital for owners.

Jody Kerman, Head of Trading Standards at Oxfordshire County Council, added, “Many people across the county enjoy a pint or a glass of wine in the pub with friends. However, it’s not a cheap commodity, and the inspection showed that customers could be losing out if it’s not served correctly.”

It might not sound like much, but a 2.2% short measure on a £7.05 drink amounts to a 15p loss, which adds up in a few rounds. Beyond stretching wallets, short measures can also lead to customer complaints, negative reviews, or even regulatory penalties.  

Pub owners should carry out regular checks, invest in staff training, and ensure all measuring tools are properly calibrated to stay compliant with the law.

Runna, a London-based training app for runners, has been acquired by the US fitness startup, Strava in a move described as a “dream come true” for its two founders.

Despite only launching four years ago, clever marketing strategies including brand partnerships with reality TV stars, fitness brands, and Olympians had seen the startup shoot ahead in the competitive fitness market. In January, it placed sixth in the Startups 100 Index. 

Co-founder and CEO, Dom Maskell shared the news on LinkedIn this morning. “Strava has always been the natural home for Runna from the first day we started working on it,” he wrote. “This is honestly a dream come true for me and the Runna team.”

Strava has purchased the startup for an undisclosed sum. However, The Times today reported that the deal will secure its founders a multimillion-pound payday.

What is Runna?

Runna is a personal running coach app designed for all fitness levels, offering tailored training plans, injury management advice, and mobility workouts.

Launched in 2021 by Maskell and Ben Parker, it began life as a personalised PDF service for fitness fans. In the four years since, it has grown a dedicated user base in the hundreds of thousands and an online community of enthusiastic “Runnas”.

Its savvy, brand-building efforts have recalled the early days of Uber. Runna partners include Olympic triathlete Alex Yee; the New York Marathon; parkrun UK; and sportswear brand LuluLemon. Its impressive growth seems to have surprised even its founders.

“We didn’t think that in less than 4 years we’d be able to launch the app, raise investment, grow the team to >120 people across London and Boston, get rated a top rated running coaching app in the world and reach millions of Runnas”, added Maskell on LinkedIn. 

In 2023, the app secured £5m in funding in a venture capital round that was led by JamJar Investments. That amount brings the total funds raised since 2021 to over £8m. Dealroom estimates the value of Runna at around $40m.

Game on for fitness apps

In a letter to Runna users, Maskell and Parker confirmed that Runna and Strava will remain separate apps, with the option to sync data between both platforms.

“As keen users of [Strava], we’re excited,” they wrote. “We set out to build Runna to improve people’s lives through running and this deal enables us to do that even more.”

According to Maskell, the team will use the investment from Strava to grow the Runna team more, improve the app, and integrate with Strava “where it makes sense to”.

The acquisition is the latest in a string of strategic moves by Strava, which launched in 2009. In 2023, the company also acquired Fatmap, a London-based 3D outdoor mapping platform.

Today, over 100 apps connect to Strava’s API, and the platform has cemented its position at the heart of the fitness startup ecosystem.

Commenting on the Runna news, Strava CEO, Michael Martin said: “Coming off Strava’s accelerated innovation and unprecedented growth last year, it was the right time to look for complementary businesses that could create even greater value for our users”.

The deal is also a smart step for Runna’s co-founders. In its Startups 100 application, the company said it was chasing a £1bn valuation and an audience in the millions.

Now part of Strava – a platform with more than 150 million users and unicorn status since 2020 – Runna is pacing confidently towards that goal.

Forget client Zoom calls, the next most important meeting that TikTok businesses attend could be on the platform itself. This week, TikTok has introduced its first ever “SME Council” for small brands that sell through the app.

The lip-syncing platform turned social commerce giant has selected 20 businesses to make up the Council, which it says will help to amplify SME voices and empower them to influence the platform’s policies.

The launch comes as new Neilson IQ research found that TikTok Shop was the fastest growing online retailer in 2024, with a 131% annual increase in the number of shoppers using the platform.

Nearly three in ten UK SMEs now on TikTok

Founded in 2018, TikTok has had a meteoric rise over the past five years. After gaining popularity during lockdown, it is now a staple in many Brits’ smartphones. One study recently revealed it to be the most-used platform in the UK, ahead of YouTube and Facebook.

While it started life as a video-sharing platform, TikTok’s large and highly-engaged customer base means it has become a natural hub for small businesses. Popular brands that got big on TikTok include Partner in Wine, Little Moons, and Hair Syrup.

TikTok says it now hosts 1.5 million UK firms who sell through the app. Given there are currently 5.5 million SMEs in the UK, that means roughly 27% are now operating on TikTok.

This growing small business population ranges from dropshipping side-hustles to thriving ventures, all of which use the platform to showcase their products and services and create long-form marketing content.

Commenting on the Council’s formation, Ali Law, Director of Public Policy and Government Affairs at TikTok UK, said: “SMEs across the country come to TikTok every day to share their passions, reach new customers, and grow their businesses. 

“By launching our new Council, we’re taking our support of these businesses beyond the app, giving them a platform to call for policies that will unlock the next phase of their growth.”

Who will be on TikTok’s SME Council?

TikTok appears to have specially selected its 20 Council members from a range of industries that are popular in social commerce such as hair and beauty, clothing, and DIY.

Chosen from across the UK, they include an affordable wig brand located in the heart of Birmingham (@hairanatomyuk), a Manchester-based sleep company (@levitex) that offers practical tips on sleep posture, and an artisan candle seller (@bearburners), in Sunderland.

The Council held its first meeting on 4 April in Stoke-on-Trent, where members discussed the experience of setting up a business in the UK and using TikTok to scale.

Dominique Bogle Khan, founder of Hair Anatomy said: “Being part of the SME Council is such an incredible opportunity. I’m excited to see how the Council evolves and continues to shape the future of small business growth.”

The British Beauty Council has expressed its support for the new committee. This week, it confirmed it will work with TikTok Shop on a programme of content to upskill its partners and patrons on how to get the most out of the platform. 

TikTok prepares for retail revolution

The ecommerce landscape is evolving drastically, driven by the rise in social commerce. Many brands now use livestreams to promote and sell products via digital platforms, like TikTok. TikTok Shop data shows that over 6,000 LIVEs take place in the UK every day.

In a statement announcing the new committee, TikTok described its SMEs as being at the forefront of this new “retail revolution”.

The platform added that the Council’s insights will also be used to create the TikTok SME Manifesto; a set of policy requests to be delivered to the UK Government, which it says will be aimed at encouraging British entrepreneurship.

TikTok is facing a potential ban in the US due to national security concerns. The platform has until 19 June to sell its stateside operations or face a permanent ban, sparking concern among the seven million US entrepreneurs who rely on TikTok to run their businesses.

TikTok’s new SME Council and planned manifesto may also be an effort to prepare for possible regulatory challenges from Whitehall, and avoid disruption for its UK sellers.

Interviews are a crucial part of any recruitment process. They ensure managers can get to know candidates beyond their CVs and decide if they’re the right fit for the team.

However, one thing that often goes under the radar is candidate satisfaction. And in today’s world, where word spreads quickly online, a single bad interview can have a serious impact on a company’s reputation.

Digital PR agency Reboot Online has used candidate reviews to reveal the extent of this issue. Alongside naming and shaming the businesses with the worst ratings, the findings offer SMEs valuable insight into how to conduct a good interview.

15% of all candidates report negative interviews

It’s human nature to share experiences, whether good or bad. And much like when unhappy customers leave feedback about poor service at a restaurant or store, disgruntled job seekers are also compelled to share their interview horror stories online.

Reboot Online analysed data from over 300,000 Glassdoor reviews. It found that on average, 15% of candidates report a negative experience when interviewing with a company. But some well-known firms apparently have an above-average dissatisfaction score.

The study found that Spotify had the highest percentage of negative experiences among the world’s top 100 employers, with 37% of candidates reporting a bad experience. 

Ironically enough, Reboot Online reports that 29% of candidates recall negative interviews at Indeed.com, despite it being the world’s number one job site.

PayPal, Shopify and Netflix follow closely behind with 28% of candidates reporting negative interview experiences. Despite all three being highly desirable places to work, Reboot Online’s analysis finds that one in three interviewees leave unimpressed.

Likely, many of these bad reviews could be from aggrieved candidates who didn’t get the role. But according to Reboot Online, difficult interviews do not correlate with bad experiences. 

Large companies like Salesforce and Rolls-Royce had largely positive feedback from candidates. While both were reported to have high interview difficulty, these companies both received higher satisfaction scores from Glassdoor reviewers.

What makes a bad interview?

A poor interview experience, whether due to a lack of communication, disorganisation or an unpleasant atmosphere, leaves a lasting impression. According to research from StandOut CV, 83% of candidates say a negative interview experience led them to reject a job offer.

So, what are the main offenders of poor interview practices?

Based on Reboot Online’s findings, the most common complaints were around getting ghosted by recruiters, generic rejection emails and interviewers arriving late.

With this, further statistics from StandOut CV revealed that 63% of candidates are unhappy with the lack of communication they receive from employers after applying. Plus, over half of job seekers say recruiters never keep them updated on their application’s progress. 

Meanwhile, a quarter of job seekers have experienced lateness from a hiring manager when attending an interview.

Lengthy interview processes also cause annoyance, with most candidates believing that two stages for an interview are acceptable. 64% agreed that more stages are unnecessary.

Hiring lessons for small teams

With these findings in mind, there are several lessons SMEs can take when it comes to refining their own hiring practices. Here are five ways businesses can ensure a positive candidate experience:

• Keep communication consistent and tailored: keep candidates in the loop at every stage. Even a short, personalised update can set you apart from other companies, where candidates may just feel like another number.
• Prepare beforehand: a business needs to be prepared for interviews too. Make sure that whoever is interviewing the candidate has reviewed their CV fully – especially if you’ve relied on AI screening tools to review the first round of applications.
• Avoid ghosting: even if someone isn’t a good fit, follow up with a clear outcome. This shows professionalism and doesn’t leave the candidate feeling ignored.
• Ask for feedback: after the process, ask a select number of candidates (even those you didn’t hire) for feedback on their experience. It’s a good way to improve your hiring process and shows that you care about getting it right.
• Use scheduling software to stay punctual and professional: tools like Google Meet or Zoom can help you stay organised and avoid being late for interviews. Set automated reminders, buffer times between meetings, and sync across devices to show candidates that you value their time as much as your own.

Any further questions?

You don’t need a huge HR team to make a good impression – just a bit of care and consistency in your hiring practices. 

For small businesses, interviews are a chance to show what your company’s values, organisational culture and day-to-day working style are all about. 

Keep things clear and respectful, and you’ll leave candidates with a positive experience and boost your chances of attracting the best people in the future.

Health in the workplace isn’t just a personal issue – it’s a business one too. While sick leave is a given when managing a workforce, the lack of support for employees can lead to bigger problems down the line.

Long-term sickness absence is becoming a growing concern across industries, and employers that fail to address the issue risk increased staff turnover, burnout, and rising costs from lost productivity.

The issue could also be gendered. Research from UK Med has revealed that more women than men in the workplace feel that their employers do not offer adequate support when it comes to health-related issues.

While progress has been made in promoting general wellbeing, there’s evidently still a long way to go in making women’s health a meaningful part of that conversation.

Women feel unsupported at work over their health

While the need to support employee mental health and wellbeing has become more widely recognised by employers, the UK Med research shows that many female employees still face challenges when it comes to managing their health at work. 

According to UK Med’s Workplace Health and Wellbeing 2025 Survey, women are 63% more likely to feel unsupported at work for health issues than men.

Additionally, women are more hesitant to request sick leave, with 27% saying doing so would make them worried about how their team will perceive them.

There also seems to be gender disparity in workplace benefits, as the study found that men are twice as likely to receive private medical insurance as part of their benefits package. 

Likely, this is due to the type of roles that men dominate. Men are often overrepresented in senior management and executive roles, which typically come with more extensive benefits.

Still, there’s a positive takeaway in that women are 31% more likely to feel comfortable talking about health concerns with their colleagues – suggesting a shift toward more open and supportive workplace conversations.

Femtech startups are tackling the stigma around women’s health

But while colleagues may offer a listening ear, the general taboo around women’s health is still present, making it difficult for many to get the support they need.

Overall, 60% of women in the UK — including those within the workplace — believe that their health issues aren’t taken seriously. 

This ongoing problem has sparked inspiration for femtech startups. Femtech is an industry term for software and services that use technology to tackle women-specific health issues such as menopause, menstruation, and pregnancy.

New femtechs are cropping up with solutions to help women take charge of their health and bridge the gaps in support and care; including our own Startups 100 alumni.

They include Hormona, which helps women manage their hormonal health. Founder Karolina Löfqvist established the business after being repeatedly dismissed by doctors over her own health issues. She now seeks to fix the “broken” system in women’s healthcare.

Meanwhile, Katy Cottam, founder of Luna Daily, is fighting the stigma through its microbiome-friendly skincare products and its mission to normalise conversations on women’s intimate health.

What should businesses do to help?

Government data shows that 7% of working-age people were inactive between December 2023 to February 2024 due to long-term sickness; highlighting the importance of supporting employee health and wellbeing. 

Against this backdrop, the fact that many women feel unsupported in their health concerns presents a significant problem for SMEs, which are often particularly vulnerable when faced with staff absences and difficulties in attracting talent in an already tight labour market.

With an evident need to invest in employee wellbeing, here are five ways that small businesses can ensure they are addressing all health issues in a fair and inclusive way:

• Create an open, supportive culture: foster a company culture that encourages conversations about health and wellbeing, including topics like menstrual health, menopause and mental health.
• Offer flexible working: flexible working arrangements or offering remote work can make a positive difference, particularly for those managing existing health conditions or anyone who has regular medical appointments.
• Review your benefits: even basic benefit packages can be tailored for female employees, such as paid maternity leave, extended sick leave for reproductive health or access to mental health resources.
• Improve education: host workshops or share resources that raise awareness about common women’s health issues, both for affected employees and their colleagues.
• Listen to your employees: regularly ask for feedback through anonymous surveys or check-ins, and make sure that female workers have the chance to be actively involved in discussions around workplace policies that affect them.

Commenting on the UK Med research, General Practitioner Dr Alexis Missick, says that open conversations about health are “essential for creating a supportive and productive environment”, and that businesses should ensure that their employees can prioritise their wellbeing without fear of judgement or penalisation.

“Encouraging honest discussions, normalising sick leave, and ensuring access to proper support can help break down harmful stigmas,” Missick comments. “A healthy workforce isn’t just beneficial for individuals — it also leads to stronger, more resilient organisations.”

Any entrepreneur who uses TikTok for business will tell you that it isn’t just a place for funny videos, trending dances, and viral sounds.

The popular social media platform has become a hotspot for small businesses to show off their products and connect with their customers in a way that feels more personal than your average online ad.

And for some businesses, going viral on TikTok has led to some great successes. One small business, Mysterious Bookcase recently opened its first book shop in Bournemouth after its “Blind Date with a Book” marketing campaign blew up on the platform.

It’s a nice story, but far from the only one. From beauty startups to sweet shops, here are six brands that turned likes and shares into serious growth, and what you can learn from them.

1. Made By Mitchell

Before starting his business, founder Mitchell Halliday gained recognition as an influencer by sharing makeup tutorials and tips on TikTok and Instagram. He later established Made By Mitchell in 2020 – selling a lineup of makeup products including his famous Blursh liquid blushes, cream colour palettes and brushes. From the start, the brand quickly gained attention on TikTok for its bold, vibrant products, and its inclusive approach to makeup artistry.

While the products were constantly popping up on users’ “For You” pages, the brand’s success can also be attributed to Halliday’s marketing strategies – most notably his daily stream on TikTok LIVE, where he packed customer orders, often adding a freebie or two as a surprise.

Just three years after launching, Made By Mitchell hit a major milestone by generating $2 million in sales in just one week. This success was followed by a record-breaking achievement in June 2024, when the brand became the first UK beauty business to earn $1 million in a single day on TikTok Shop during a 12-hour live event.

2. Hair Syrup

Like many entrepreneurs, Hair Syrup founder Lucie Macleod’s business journey started from her student accommodation kitchen. Frustrated with her unhealthy hair, Macleod began developing natural, pre-wash oil treatments to tackle dryness and damage.

What started as a personal solution quickly grew into a business as Macleod began sharing her haircare creations with friends and family. She registered Hair Syrup in 2020, and it wasn’t long before her creations started gaining traction on TikTok. As her videos went viral, more people began trying the products, and the brand quickly grew.

Macleod appeared in Series 22 of the BBC TV show, Dragons’ Den this year but was unable to secure investment. However, the appearance ended up boosting the brand’s visibility further, attracting even more attention from customers eager to buy Macleod’s products. 

Today, Hair Syrup is worth £4.5 million, making it a notable success from Dragons’ Den despite the rejection.

3. Little Moons

The beginning of 2021 saw everyone on TikTok raving about Little Moons — a brand that makes and sells mochi ice cream products. While Little Moons was founded in 2010 by sibling duo Howard and Vivien Wong, it wasn’t until TikTok caught on to its products over ten years later that the brand exploded in popularity.

Thanks to TikTok, Little Moons went from a niche treat to a must-try sensation. Influencers and everyday users started posting videos of themselves tasting the product, encouraging others to join in — adding to the platform’s food craze. 

As more people tried the product and shared their experiences, the product became a staple on TikTok, and soon enough, the demand soared – leading to a surge in sales and filling up supermarket shelves across the UK. While the Little Moons trend has quietened down since, Little Moons is worth over £100 million (as of 2022) and its mochi ice creams are sold across major retailers, including Tesco, Sainsbury’s, Waitrose, and Morrisons.

4. Poppin Candy

Everyone loves a sweet treat, and you don’t always have to wait until Halloween or a cinema trip to indulge in some good ol’-fashioned pick and mix. However, brothers Jake and Brad Wilson spotted a gap in the market when it came to getting candy and snacks from all over the world. With this, they founded Poppin Candy in 2021 and started out by building an online store and social media accounts on TikTok and Instagram.

Its strategic use of these platforms contributed to the brand’s rapid rise in success. One of its early TikTok videos, the “Animal Mania Mix” – in which an assortment of animal-related sweets are dumped into a box – garnered over a million views within five hours. From there, the brand capitalised on content around themed candy mixes and platters and its popular “freeze-dried” sweet products.

Poppin Candy continues to post regular content on TikTok and customers love the fun, nostalgic vibes and the chance to get rare or American-style sweets they can’t usually find in the UK. It’s a great example of how a small business idea — mixed with creativity and a bit of TikTok magic — can really take off.

5. Partner in Wine

The UK’s lockdown during COVID sparked inspiration for many to start side hustles, launch small businesses, or even just start a new hobby that they hadn’t thought about before. Inspiration struck Partner in Wine founder, Lucy Hitchcock when she realised there was no stylish, practical way to keep wine chilled for socially-distanced park meet-ups.

With this, Hitchcock developed insulated, reusable wine bottles and tumblers designed to keep drinks cold for up to 24 hours, or 12 for hot drinks. Hitchcock took her idea to TikTok, which quickly gained traction after showing off the product and how they can be used in everyday scenarios, such as picnics and beach trips. 

Hitchcock’s products were a hit from the start. During its early days in 2021, one of her videos went viral, racking up views and sparking a buying frenzy — leading Hitchcock to sell out her products in just a few days. As for today, Partner in Wine is still going strong, having recently launched a new cool bag product, and also boasts over 62,000 followers.

6. Binley Mega Chippy

If you were on TikTok during early 2022, you couldn’t escape the Binley Mega Chippy song. Whether you loved or hated it, it was all over everyone’s “For You” page at the time. What started as just a regular Coventry fish and chip shop suddenly became an online phenomenon thanks to the jingle and a wave of TikTok memes.

Naturally, the chippy’s internet fame drew more customers to its doors and by May 2022, people from all over the world — including France, Portugal, the United States and Australia — had come to see what the hype was all about. Major news outlets like Sky News and even the BBC also picked up the story, adding even more fuel to the chip fryer.

As trends often go, the hype for Binley Mega Chippy died down. While there are no longer queues out the door, the chippy still holds a special place in internet history. The chip shop is still open today, with favourable customer reviews and a steady stream of customers. Binley Mega Chippy might not be viral anymore, but it’ll always be a local legend.

From viral moments to lasting success

These brands show that TikTok isn’t just about 15 minutes of fame — it’s about turning those real moments into real, lasting success. From makeup brands to quirky snacks, these businesses have leveraged the platform to connect with customers, grow fast and stand out.

Whether it’s through creative content, smart marketing or just getting lucky, they’ve all successfully turned viral moments into long-term growth. It’s proof that with the right approach, TikTok can be a true game changer for small businesses.

These stories prove just how powerful social media can be when it comes to growing a business. If you’re ready to tap into it yourself, check our guides to marketing on TikTok and marketing on Instagram for tips to help you get started.

One year on from the UK’s Carer’s Leave Act coming into effect, new data suggests that unpaid carers continue to face limited workplace support in the UK.

Many working adults who need to look after a child or dependent are being forced to use their annual leave to manage their care duties alongside work. 

The research from Seniorcare by Lottie has revealed that the UK ranks tenth in Europe when it comes to its provision for carers.

UK ranks 10th in Europe for carer leave

The UK’s Carer’s Leave Act came into effect on April 6 2024. The act provides carers with up to one week of unpaid leave every 12 months to give or arrange care for a dependant with a physical or mental illness, injury, disability, or old age. 

If the carer is a parent who needs to take care of their child, the permitted leave is extended to 18 weeks. This is counted as parental leave and is separate from the Carer’s Leave Act.

Recent research from Lottie analysed the equivalent leave policies throughout Europe and found that the UK’s offering is paltry in comparison to that of other countries.

Sweden tops the charts with its generous 100 days of paid leave, paid at 80% of the carer’s regular salary. 

In second place is Italy, which offers carers three days of paid leave per month. This may reflect the fact that it currently has one of the oldest populations in Europe, meaning many employees have to take regular time off to take care of elderly relatives.

Germany, in sixth place, takes a flexible approach. It allows carers to take ten days of paid leave and up to six months of unpaid leave if long-term care is required. 

The UK’s Carer’s Leave allowance currently has no mention of paid leave at all, and even its unpaid allowance is stingy compared with some of its European counterparts. 

On the flipside, we slightly outperform Greece, Poland, Belgium, and Finland, which share the eleventh position with only five days unpaid leave. 

Why does it matter?

The lack of generosity in terms of carer’s leave is troubling because the UK is currently experiencing a significant demographic shift as its population ages. This is primarily due to increased life expectancy and declining fertility rates. 

In 2022, 19% of people in the UK were aged 65 or over. This number is projected to rise to 27% by 2072. 

The ageing population could even lead to more employees in the UK caring for elderly parents or relatives rather than for children. But while there has been a raft of reforms to maternity pay and paternity leave allowances, the Government has been slower to bring in new laws that support those who are caring for elderly relatives. 

For instance, new mothers can take up to 52 weeks of maternity leave, whereas carers for elderly individuals are only entitled to one week of leave.

In light of this, it can be an empathetic move for employers to introduce an enhanced carer’s leave package for employees. 

Rewarding your staff with in-demand employee benefits like this can help boost your staff retention, attract top talent, and improve morale for your existing workforce. 

Tips for supporting adult carers in your workforce

This study was conducted by Lottie, the 2025 winner of our Startups 100 Index. Lottie helps families find high-quality, reliable care through its online marketplace of vetted care homes, retirement communities, and at-home care providers. It also offers helpful tools for comparing costs, bringing more transparency to the care options available.

“While the UK has made progress in supporting informal carers in the workplace, our analysis shows there is still lots to learn from other European countries, particularly in terms of paid leave,” says Elliott Winter, Commercial Lead at Seniorcare by Lottie.

To enhance the support available to informal carers in the workplace, Lottie recommends that employers go beyond the basics. 

This could include offering flexible working arrangements, additional leave, and access to mental health resources. 

Creating an internal carers’ network can also help ease feelings of isolation by facilitating peer-to-peer support. Training managers to understand carers’ needs and signpost them to appropriate resources is another practical step.

Finally, employers might also want to consider sharing information about local care services to help staff manage their caregiving responsibilities outside of work.

“With an ageing population, more employees are now balancing work with caring for elderly dependents rather than children, making it more important than ever before for employers to provide meaningful support for informal carers at work,” Winter adds. 

“Looking to neighbouring EU countries, we can learn valuable lessons in flexibility, longer-term commitment and financial support that can progress the way we approach carers’ leave here in the UK,” he concludes.

Is the handshake deal a thing of the past? Possibly, as new research reveals that UK business travellers are losing their appetite for work trips. 

The findings, from global travel risk management organisation World Travel Protection, suggest that in-person client relationship building could be at risk, as more than four in ten employees are less keen on business travel due to the changing world of work.

Below, we explore in more detail the reasons why UK employees may prefer to stay in familiar territory in favour of taking work trips.

No wanderlust for UK workers

The study from World Travel Protection, which was carried out by Opinium, surveyed 500 UK business travellers and found that the majority are falling out of love with travelling for work. 

The top reason was travel disruption and delays, with 74% of respondents citing this as a concern. Rail strikes and other travel disruptions are already putting many workers off commuting into the office. Now, they’re also affecting longer journeys. 

We’ve already seen a fair amount of travel chaos this year, with London’s Heathrow Airport recently being forced to close following a fire. 

Travel across Europe is set to be marred with more disruption over the Easter bank holiday weekend due to strike action. Understandably, this means that business travellers would rather stay put to avoid the headaches of being stuck at the airport.

Furthermore, global instability caused by ongoing geopolitical conflict and terrorism risks putting UK workers off from taking work trips.

When asked, almost half (47%) of business travellers said they feel less safe than they used to, with 60% believing business travel comes with more risks than in the past.

Is it all because of remote work?

It’s possible that the anti-work travel sentiment is also being cemented by the rise of remote work. In the aftermath of the COVID-19 pandemic, some workers are less happy to travel to work. 

While there have been widespread debates surrounding remote work vs. returning to the office, travel chaos may be contributing to the growing population of homebodies. 

The unpredictability of airport security queues, lost luggage, and flight delays might make traveling seem less appealing, especially when much of today’s business can effectively be conducted over Zoom.

Another concern could be the loss of important digital items which are becoming increasingly key in a remote-working world. 

The study shows that the main safety concern for 72% of business travellers is the loss of important belongings such as a business phone, laptop, or passport. 

What employers can do to support traveller safety

While video conferencing may get the job done, Zoom calls aren’t the most effective mode of communication for relationship building. 

Despite its hassles, business travel remains a core pillar of building strong client relationships, networking, and meeting suppliers. With this in mind, businesses should continue to encourage employees to embark on work trips. 

Bosses hoping to send employees abroad should implement a strong duty of care to ensure their safety and pay attention to modern risks. 

For example, managers should pay attention to cybersecurity risks when their employees are working from abroad. Similarly, companies should be mindful about sending LGBT+ employees to less tolerant regions. By taking pre-trip and back-up planning seriously, work trips don’t have to be a cause for concern. 

An alternative approach may be to explore workation policies, which allow employees to travel on their own terms by combining it with time off.

There may be hope for UK businesses amid President Trump’s trade war, thanks to a government-backed financing scheme worth billions.

On Sunday, a new package was announced that will enable UK Export Finance (UKEF) to provide £20bn in financing support for firms affected by inflated US tariffs. 

As part of the package, the British Business Bank (BBB)’s will allow eligible small businesses to borrow up to £2m through its Growth Guarantee Scheme (GGS).

The extra funding may be especially beneficial for those who supply retailers, healthcare firms, and car manufacturers; three sectors hit hard by Trump’s tariffs.

Below, we’ll provide a detailed explanation of the funding, including eligibility criteria and application instructions.

What is the Growth Guarantee Scheme?

In case you missed it, Trump sent the global stock market into turmoil by imposing a minimum 10% tariff on all US imports on what he called “Liberation Day”, on April 2.

The move was met with widespread outrage. China was hit with one of the highest tariffs but struck back by ordering retaliatory tariffs for the US of 125%. The ongoing chaos resulted in a global market downturn and realistic fears of a recession. 

After days of uncertainty, Trump was the first to break, by announcing a 90-day pause for countries affected by the tariffs on April 10. All countries, including the UK, will now pay a 10% “universal tariff” on all goods exported to the US. In addition, certain tech and electronics products will be exempt from tariffs. This decision has encouraged stock markets to rise, including the UK-based FTSE 100.

That said, UK businesses exporting goods to the US will still feel a pinch. On Sunday, the Government began encouraging affected small businesses to apply for the new funding from the Growth Guarantee Scheme, to help with cash flow issues.

Chancellor Rachel Reeves announced the scheme, saying, “The world is changing, which is why it is more important than ever to back our world-leading businesses and support them to navigate the challenges ahead.”

The new package offers a total of £500m in additional lending capacity, with businesses able to borrow up to £2m per business group. 

The funds can be used to mitigate disruption caused by the tariffs, such as managing cash flow. Terms vary from three months to up to six years.

Are you eligible?

Full eligibility rules have not yet been announced for the new funds, although the BBB has said it will release further information on the initiative soon.

However, here are general requirements that small businesses applying to the Growth Guarantee Scheme must fulfil:

• Your business must have a turnover of no more than £45m, including business groups
• You must be UK-based and generate more than 50% of your income from trading activity unless you are a charity or further education institution
• You should not be in real financial difficulty, such as undergoing insolvency proceedings
• You may need to provide written confirmation that receiving the GGS will not mean that your business exceeds the maximum subsidy you are allowed to receive

It’s also important to consider whether receiving financial help is a sensible decision for your business at this time. The GGS is, after all, a type of debt finance, which is much less affordable during an economic downturn. 

As the UK faces higher interest rates and tighter lending conditions, SMEs are reportedly repaying debt at levels more than 20 times higher than pre-COVID. So, think carefully before taking on extra debt. Even if loans provide breathing room in the short term, they can place undue financial pressure on your business in the long run. 

How to apply

If you’d like to secure financing provided by the Growth Guarantee Scheme, you should approach a GGS-accredited lender to apply. You can go to their website to submit an application, then the lender will independently review your eligibility. To support your application, you’ll need to provide details of:

• Management accounts
• Business plan
• Historic accounts
• Details of assets
• Details of previous subsidy awards

If it transpires that you don’t qualify for the tariff aid, there are other options available to support your profit margins. 

Alternative funding sources for SMEs include small business grants, advisory services, and other forms of government assistance which can help your business thrive despite the adverse economic climate.

The UK job market is facing an uphill battle, as new research suggests that concerns about inflation and interest rates are causing businesses to be cautious when it comes to hiring. 

Research from careers website Reed.co.uk, as reported by LBC, has revealed that job listings have seen a sharp drop over the past year, leaving many jobseekers in a tough spot.

One likely cause is an increase in employer National Insurance Contributions (NICs), which has kept the cost of employment rising, throwing many SME recruitment plans into chaos.

More layoffs, fewer job opportunities

The reign of redundancies from last year has continued into 2025. Major retailers including Aldi, New Look, and Ocado made job cuts earlier this year in efforts to protect profitability. The tech sector has been a continuous source of layoffs as well, with companies like Google, Dyson, and Meta downsizing the workforce considerably in the last 12 months.

The trend looks set to continue, as a Labour Market Outlook report by CIPD reveals that redundancy expectations have increased from 22% to 27% for private-sector businesses.

But while some companies are forced to let staff go in order to lower staffing costs and protect profit margins, the vast majority will opt for hiring freezes. 

In our survey of 531 small business owners, completed at the end of last year, we found that 12% of SMEs report no plans to hire this year.

It’s no surprise, then, that a study by Reed has revealed that new job listings have declined by 23% compared to the previous year. The findings were first reported by LBC. 

What’s behind the hiring freeze?

One of the main causes behind the decline in job adverts is the rise in the employer NIC rate — from 13.8% to 15% — which came into effect last Sunday, on April 6.

The change has placed significant financial pressure on SMEs, with many turning to cost-cutting measures to stay afloat. One report by Personnel Today found that 46% of employers believed that the NIC increase would impact hiring plans. 22% also cited limited budgets due to NICs as the reason for freezing or delaying hiring.

What’s more, the increase in the National Minimum Wage (NMW) has made hiring low-income staff more expensive. Combined with ongoing economic uncertainty and rising prices, it’s no wonder that businesses are hesitant to commit to long-term hiring.

The workplace model could also be a factor. Rent and utility bills are two business overheads that have increased the most in the past half decade. 58% of fully office-based companies told us they had made layoffs to streamline costs in 2024, versus only 45% of remote firms.

How should SMEs respond?

While smaller firms may not be able to afford to hire new staff right now, talent remains crucial to business growth and keeping up in a competitive market. After all, in our survey of SME leaders, 52% of businesses reported that a talented and motivated workforce was a key contributor to their success last year.

And let’s not forget to factor in the skills shortage either. While it’s a decrease compared to last year, 76% of employers reported difficulty in filling roles due to a lack of talent. 

With hiring off the cards, now is a good time for businesses to evaluate their employee benefit packages and seek out clever, cost-efficient ways to retain, not recruit, staff. 

These don’t have to break the bank either. Perks like flexible working, in-house training opportunities, or the option to work from anywhere can go a long way to keep skilled workers around. Plus, it won’t hurt to attract the right candidates when hiring picks back up.

The road ahead

The UK jobs market is going through a rough patch. With overwhelming economic and financial pressures, it’s a good time for businesses to take a step back and think about what they really need to grow, and how to hang on to the people who can make that happen.

As things settle, the businesses that focus on looking after their teams and offering real value for employees will be the ones that come out on top.

The UK’s struggling travel industry is to be given a shot in the arm, as part of new measures to cut red tape for local hotels, restaurants, and pubs.

On Monday, the Government unveiled its Plan for Change. It aims to cut “outdated regulations”, allowing local firms in tourism, hospitality, and leisure to collaborate directly with each other to offer cheaper breaks, a win-win for holiday goers and small businesses. 

Minister for Employment Rights, Competition and Markets, Justin Madders, said: “These common-sense changes will help small firms, boost British tourism, and give families more choice when booking a staycation. More options, better value, and a stronger UK economy.”

The news comes as the holidays sector is on its last legs. Over the weekend, a campaign group began calling for urgent intervention to protect SMEs, warning that domestic holiday trips could this year drop by almost a third this year due to the cost of living crisis.

What’s in the Government’s new holiday package?

Since July 1st 2018, the Package Travel and Linked Travel Arrangements Regulations has set strict stipulations for organisers of package holidays. These aim to provide sufficient security for repatriations and refunds in the rare event of their own insolvency.

However, the Government has decided that the complex legislation is creating barriers for holiday providers to offer competitive deals to customers.

So far, details are thin on exactly what actions will be taken. But according to a government press release, the new plans will help businesses by making it quicker to fix problems with suppliers and easier to protect customer payments if a third-party provider goes bust.

Combined, this should allow small businesses to work together on experiences, giving consumers better value and supporting growth across the tourism sector.

For example, a B&B will be able to offer its customers a discount at a local restaurant. Or a Welsh campsite may be able to bundle in surfing lessons. 

Under current regulations, setting these partner deals up would require reams of paperwork for small firms, creating admin costs that may often be passed down to the customer. It’s hoped that the new changes will encourage Brits to stay local for their summer holidays.

Too little, too late?

The Government’s latest announcement may come too late for affected small businesses. Like fish and chips at the seaside, the UK holiday industry has taken a battering. 

During COVID, the sector enjoyed a surge in demand as lockdown stopped Brits from going abroad. But five years on, the trend has now reversed, as rising prices send many consumers hunting for cheaper package deals from providers based abroad.

A report by industry group, Out & About Live estimates that domestic trips in the UK have fallen by 32% in the past three years, from 42.3 million in 2022 to just 28.8 million by 2025. The body has launched a national campaign, Back British Holidays, to address the problem. 

Spokesperson Daniel Attwood told the Express that campsites are being particularly hard hit, adding “The decline has been much, much more significant than anybody expected. We’re at a point where if action is not taken, we’re going to start to see businesses going under.”

With many companies having paused hiring due to the increasing cost of employment,  closures could have a big impact on the unemployment rate. Currently, the sector reportedly employs 300,000 direct jobs, along with three million workers indirectly employed.

Banking giant NatWest Group has this week announced a minority investment in Yonder, the fast-growing credit card that offers rewards tailored to customer lifestyles and preferences. 

Yonder has thrice appeared in the Startups 100 Index, our list of the fastest-growing new companies in the UK. The platform placed third this January, fresh off the back of achieving a nine-figure valuation at the end of last year.

With NatWest’s support under its belt, the fintech is set to grow further by scaling its operations and continuing to disrupt the credit card market.

Who is Yonder?

Yonder is a London-based fintech that was founded in 2020 by banking experts Tim Chong, Theso Jivajirajah, and Harry Jell. It offers an experience-based credit card for its audience of young professionals (or “yuppies”), who can earn points to use on dining out, entertainment, and even flights.

Yonder’s features have chimed with its Millennial and Gen Z target audience. As of 2024, it boasts over 20k users across UK cities including London, Manchester, Bristol, and Bath. 

As a challenger credit card, Yonder rivals other major players like Monzo, and has become a rising star in the fintech world.

Alongside its mission to put the customer first, Yonder’s simplified sign-up aims to help those who may not have a credit score. This focus on financial inclusion was inspired by its own founders’ struggles to access credit when they first emigrated to the UK from Australia.

What does this investment mean for Yonder?

NatWest is one of the UK’s largest banks with over 19 million customers. The investment will help Yonder to scale at speed, enabling it to draw on NatWest’s banking expertise to disrupt the credit card market.

Details of the minority investment have not been disclosed. However, the new cash comes after Yonder secured £23.4m in September 2024 via venture capital (VC) funding, taking its overall valuation to £100m.

Commenting on the new investment, Tim Chong, co-founder and CEO of Yonder, says: “We’re thrilled to welcome NatWest as an investor in Yonder. Their expertise and insights will be invaluable as we continue to grow and scale our platform.

“Together, we can redefine the future of consumer credit and deliver tailored financial services that meet the unique needs of our users.”

Through the partnership, NatWest will also gain access to Yonder’s customer insights, which it says it will use to ramp up its efforts on personalised rewards, while staying on top of emerging trends with some of its most important customer groups.

“Today’s consumer wants financial experiences that are personal, easy, and that seamlessly integrate into their daily lives,” Ladi Greenstreet, Head of Strategic Investments at NatWest Group comments. 

“Our investment in Yonder reflects our belief in delivering better lifestyle experiences with financial tools that resonate with customers’ personal goals and aspirations. We’re looking forward to exploring new ways to deliver rewarding and responsible financial interactions that align with our customers’ evolving needs.”

NatWest bets big on fintech

Led by NatWest’s Innovation and Partnerships team, the bank’s minority stake in Yonder marks a key milestone in its ongoing efforts to partner with pre-seed companies or those looking for series funding.

The banking giant also recently introduced five pre-Series A startups to its Fintech Growth Programme, giving them access to resources, expertise and networks to help them grow and scale sustainably. 

This includes Tunic Pay – another Startups 100 alumni – which provides a trust infrastructure to banks and fintechs to prevent scams and protect real-time transactions.

Sandi Royden, Head of Retail Banking Customer Propositions at NatWest said: “Our customers’ expectations are rightly changing all the time and it’s important we continue to understand their needs, personalise and deepen our positive customer experiences – which is the core way we think about innovation, engagement and proposition design as a bank.”