Google has announced a new feature to its Google Maps platform, allowing users to use its search functionality to look for products and find nearby stores that sell them. 

This new feature isn’t only useful for users to find what they need quickly, but it also introduces a new way for retail businesses to attract customers.

Here’s how businesses can make use of Google’s latest feature to boost visibility, attract local shoppers and drive more traffic to their products.

How does it work?

Google Maps’ new product search integrates ecommerce with location-based services, making it easier for customers to discover where specific products are in their local area. Here’s how it works:

• Product search: Users simply type the name of a product (eg “wireless earbuds”, “Doc Marten boots” or “charcoal toothpaste”) into the usual search bar on Google Maps. Google will then show results from various local retailers and businesses that sell the specific item.
• Integration with local inventory: Google’s partnerships with retailers and inventory management systems give it the ability to show real-time product availability. Businesses upload their inventory data to the Google Merchant Center, allowing Google to display accurate information on whether a product is in stock, its price and its location.
• Filtering and sorting: Results can be filtered by distance, price or availability to show options that fit specific customer needs.
• Business listings: If a business has product listings, these items will show up on Google Maps as part of its Google Business Profile. When a user clicks on a store or product, it will give them additional information, such as the store’s address, phone number, opening hours and customer reviews.

How to list products on Google Maps

To list your products on Google Maps, you’ll need to have an active Google Business Profile. Make sure your business is verified, and that it appears on Google Maps with accurate details, such as your business name, address, opening hours, website and phone number.

First, you’ll need to upload your product inventory to Google Merchant Center. You’ll need to upload a file with the relevant product information (e.g. names, descriptions, prices and availability), as this will allow Google to gather the correct data. You should also ensure your product feed follows Google’s requirements to make sure it gets approved.

Once your product feed is set up, enable Google’s local inventory ads. This will display product availability in nearby stores when users search for related items. Make sure to link your Google Business Profile to the Merchant Center, too. This will ensure your products appear on Google Maps with your business location.

Looking for other ways to attract customers? Check out our guides to selling on TikTok, Instagram, and Amazon.

Ecommerce giant Amazon has recently launched Amazon Haul – a new shopping section specifically for low-priced items.

Currently available in the US, Amazon has set out to rival the likes of Shein and Temu, both of which are popular among consumers for their affordable prices and wide variety of items.

It’s no secret that these platforms are winning the fast fashion race, with Shein reporting $32.3 billion in worldwide sales in 2023, while Temu’s annual sales reached $15.33 billion. 

But does this new revelation contradict Amazon’s Climate Pledge and consumer preference for sustainability, or does it feed into the growing demand for fast and manufactured goods?

How is Amazon Haul different from its regular store?

Unlike the original Amazon website, Amazon Haul is designed for shoppers looking for affordable items – offering its own search, cart and checkout functionality.

Amazon Haul offers a store where every product costs $20 (£15.80) or less. The only catch is that orders will take a week or two to arrive, similar to Shein and Temu’s typical shipping times. Customers can also get 5% discounts on orders over $50 (£39.51) or 10% off orders over $75 (£59.27).

Dharmesh Mehta, vice president of Amazon’s worldwide selling partner services, said in Amazon’s announcement: “Finding great products at very low prices is important to customers, and we continue to explore ways that we can work with our selling partners so they can offer products at ultra-low prices.”

Will Amazon Haul come to the UK?

Currently, Amazon Haul is only available in the US and there haven’t yet been any announcements on whether it will launch in the UK or other countries.

The only problem is, the EU’s strict regulations could slow things down. Right now, Shein and Temu are subject to several of these rules, including the Digital Services Act (DSA) and rules on intellectual property rights.

For example, Shein is now classified as a “very large online platform” (VLOP) by the European Commission and is required to implement robust measures to prevent the distribution of illegal content and protect customers from harmful products. As a result, Shein must proactively identify and mitigate systemic risks, such as regularly reviewing its product listings to eliminate illegal offerings and establishing age verification systems to protect minors from unsuitable products.

On the other hand, Temu has previously been accused of several infringements against the EU’s consumer laws. An investigation by the Consumer Protection Cooperation (CPC) of national authorities and the European Commission revealed a number of misleading and “unduly influences” on customer purchasing decisions, including fake discounts, pressure selling, forced gamification, misleading information and fake reviews.

Does Amazon Haul contradict its principles?

While sustainability isn’t listed as one of Amazon’s core values, the company has its own “Climate Pledge”, which aims to reach net-zero carbon emissions by 2040. Amazon’s principles around sustainability have been questioned before, particularly after research discovered a 40% increase in emissions between 2019 and 2023.

However, the general notoriety around fast fashion’s environmental impact could also put Amazon Haul and the company’s Climate Pledge under questioning. According to research reported by Earth.org, the fast fashion industry is responsible for 10% of global carbon emissions, which is more than international flights and maritime shipping put together.

For example, popular items on Shein were reported to be mass-produced, and the manufacturers’ excessive use of virgin polyester and large consumption of oil had been producing the same amount of CO2 as around 180 coal-fired power plants – resulting in 6.3 million tons of carbon dioxide being released every year.

Meanwhile, Temu allegedly ships over 1.6 million packages every day and is predicted to generate 1 billion tons of packaging waste globally by 2050.

UK customer spending habits – expectations vs reality

UK consumers are allegedly becoming more conscious when it comes to their shopping choices. A report by PwC revealed that 9.7% of shoppers are willing to spend more for sustainable products or sourced goods, despite rising inflation and the cost-of-living crisis. 85% also reported experiencing first-hand effects of climate change in their everyday lives.

Additionally, 55% of consumers claim that they research a purchase before making it. Survey results reported by Heuritech also found that 67% of consumers consider the use of sustainable materials to be an important factor before purchasing.

But while statistics suggest UK shoppers are becoming more conscious in their purchasing, sales for Shein and Temu remain sky-high. Shein’s sales jumped by 40% to £1.5 billion in 2023, while Temu’s sales figures in the first six months of 2024 were estimated to be $20 billion. As of May 2024, Shein has 10.5 million monthly active users in the UK, while Temu was reported to have 15.6 million monthly users as of January 2024.

To top it all off, the fast fashion industry in the UK is expected to reach a revenue of £10.9 billion in the next five years. This suggests that while many UK consumers claim to become more conscious of their shopping habits, there’s still a significant demand for cheap and manufactured clothing and other goods.

Despite the inflation shock and cost of living crisis that has impacted the economy, the UK unemployment rate has been around 4% since mid-2021, the lowest rate since the mid-1970’s. Even so, parts of the economy’s performance has led to jobs cuts in sectors like technology and retail.

Losing a full-time job is stressful and makes people worry about their future prospects, ability to pay bills and look after their family. Fortunately UK redundancy rules protect workers more than in many countries.

In this article we will outline the rules in five countries where job security is a myth and employers can fire workers easily, and compare them to UK redundancy laws.

Not every country can be like Sweden where, according to the OECD, around 90% of laid-off workers return to work within a year.. But the laws in these five countries might make you glad you work in the UK!

1. United States

The US has an ‘at will’ employment law which makes it relatively easy for companies to fire workers. It means both employers and employees can end employment at any time, for any legal reason. The only conditions under which one party cannot fire or leave is retaliation, discrimination or other illegal activities.

This long-standing law gives employers flexibility but creates an insecure environment for US workers who must consider healthcare insurance. If they lose a job that includes healthcare benefits, this adds an extra layer of anxiety and cost. Affected employees may have to pay for additional healthcare insurance.

If a US worker loses a job through no fault of their own, they may qualify for unemployment benefit, but this is dependent on which state they live in.

2. Netherlands

The Netherlands has relatively robust employee protections for full-time workers, but it has high levels of temporary employment which have fewer employment protections.

According to data from Eurostat, the Netherlands had the highest share of people aged 15 – 64 working under temporary contracts in the EU in 2022, at 23.2%. Probation or trial periods are also very common.

It is easier to fire employees working under temporary contracts or on a trial period. In the Netherlands you can be fired if the employer feels it is not in their interests to continue employing you. This could be due to poor performance or for financial reasons.

Although the frequency of temporary employment and trial periods makes it easier to fire employees, Dutch employers have to take several steps to fire staff. If you don’t agree with the employer’s decision, the employer must apply for permission to fire an employee at the Employee Insurance Agency (UWV).

3. India

India is one of the fastest growing economies in the world, illustrated by the country almost halving its unemployment rate from 7.9% in 2020 to 4.2% in 2023, according to Statista.

There is no standard process to fire employees in India, because of its size and because Federal laws are filtered through the different states, which can amend them and/or introduce their own employment legislation.

Rules often depend on the terms of the individual contract signed between the employee and the employer.

Firing staff became easier for small and medium-sized businesses in India after the Industrial Relation Code Bill was introduced in 2020. This allowed employers with 300 or fewer staff to fire staff without the permission of the government. Previously this rule only applied for companies with 100 or fewer employees.

In general, India does not recognise the ‘at will’ law that makes it relatively easy for American employers to fire staff.

However, trade unions are restricted to certain sectors such as manufacturing and Indian employment laws vary depending on the nature of the job. Social security benefits depend on various factors.

4. Turkey

Turkey is probably the easiest country in Europe to fire staff and is the only European country to feature in the 10 worst countries for working people.

In Turkey, there are two different ways an employer can sack an employee, via ordinary termination or extraordinary termination.

With ordinary termination, an employer does not have to give a reason if they employ less than 30 staff and the staff member has been with them for less than six months.

Employees benefit from “employment security provisions” if they work for an employer with 30 or more employees and have worked for them for at least six months. In these cases, the employer must supply a valid reason for firing the employee.

Extraordinary terminations give even more power to employers. They can fire an employee immediately without having to comply with notice periods and in some cases, without having to pay severance pay.

5. Saudi Arabia

Saudi Arabia is an extreme example of where employers’ rights dominate and many employees don’t even have basic workers rights. However, there are some rules to protect employees if they have a permanent contract.

Article 80 of Saudi Labor Law is the primary piece of legislation. It contains the rules under which an employee’s contract can be terminated, often without receiving any accrued benefits. These include failing to perform your duties, misconduct, persistent absenteeism and forging documents.

The firing process does depend on the way the employer is set up and the type of employment contract. Workers on probation can be fired without notice and with no rights to unemployment benefits. Employees on fixed term contracts can be sacked when the term ends. Workers on a permanent contract must be given 30 days’ notice by employers and are entitled to end of service benefits based on length of service.

Can staff be fired without warning in the UK?

Although a UK employee can be fired without notice for gross misconduct or illegality, normally employers give out at least one written warning. The other valid reasons are redundancy, capability, and the vague ‘some other substantial reason’ (SOSR).

Even if an employee is fired without cause, the organisational culture that governs the UK means they are still entitled to rights and notice.

Some of the examples of rules around hiring and firing we’ve seen from around the world seem harsh. They illustrate how the same scenarios can be treated differently in certain cultures. For instance, the US has a history of minimal government intervention, hence the ‘at will’ law.

In the UK, employees are usually given notice, a redundancy package and help looking for new employment. This is normally the procedure SME owners should follow.

Startup owners should also be aware of new laws on employment rights unveiled by the government in October 2024, including the banning of some zero-hours contracts.

Find out about UK employment rights in our in-depth guides to employee law, including firing someone on their probation period.

2024 has been nothing short of chaotic for Boohoo.

From increasing losses, plans to spin off its brands and struggling to keep up with competitors, Boohoo has been grappling with challenges left and right.

But over the past month, Boohoo’s name has repeatedly hit the headlines for another issue – its ongoing dispute with Frasers Group.

Frasers is Boohoo’s largest shareholder, with a 27% stake in the company. But the relationship between the two has been seriously rocky lately, with tensions brewing over strategic decisions, management direction and Boohoo’s recent struggles in the market.

Here’s the lowdown on the conflict, and what small businesses can learn about navigating solid partnerships, even when the going gets tough.

John Lyttle exits Boohoo, Mike Ashley is pitched as new CEO

In October, former CEO of Boohoo John Lyttle announced that he would be stepping down from his role at the company, following a £222 million debt refinancing agreement with its banking partners.

Shortly after Lyttle’s departure, Frasers proposed that Mike Ashley be appointed as director and CEO of the company.

In an open letter, Frasers wrote that Lyttle’s resignation “creates a leadership void and is an impediment on Boohoo’s return to growth.”

“There is no stronger candidate for CEO who has the experience and abilities of Mr Ashley and who is in a position to replace Mr Lyttle as soon as possible,” 

The letter also added that Boohoo had a “total lack of willingness to consider alternatives” and that the company had failed to “meaningfully engage” with its largest stakeholder.

Boohoo rejects Mike Ashley, appoints ex-Debenhams boss as CEO

However, Frasers’ proposal for appointing Ashley as CEO didn’t get the response that was hoped for. 

Instead, Boohoo shared governance concerns over Ashley’s possible involvement with the board.

Boohoo stated: “Whilst the board remains willing to discuss board representation with Frasers in a constructive manner, it has been clear with Frasers that before any appointment can be made, appropriate governance will be required to protect the company’s commercial position and the interests of other shareholders.”

At the beginning of November, Boohoo announced it had appointed Dan Finley as the company’s CEO, who previously worked as the Debenhams CEO and as Group Multichannel Director at JD Sports.

Frasers demand approval on brand break-up

Following this latest development, Ashley slammed Boohoo for its “utter disregard” of shareholder views and demanded that shareholders get approval before the group sells any of its assets – including the speculated break up of Boohoo’s brands, such as Debenhams, Karen Millen and Pretty Little Thing.

An open letter read: “The directors have pushed Boohoo into terrible refinancing while refusing to engage properly with Frasers on it. They have then rushed out a CEO appointment to try and block the say of shareholders. This has to stop. What will they try next? Desperate people do desperate things.”

Frasers also set up the Boohoo Deserves Better website, which was created for Boohoo’s shareholders to provide information about “Frasers’ solution to Boohoo’s leadership crisis”.

Boohoo hit back at these demands, accusing Frasers of using its stake in the company to promote its own “commercial self-interest”. It also argued that its holdings in competitors like ASOS and House of Fraser make it impossible for the business to act as an “independent shareholder”.

Boohoo excludes Frasers from board meetings, pleads with investors to reject Mike Ashley

According to The Times, Boohoo’s new CEO was reported to be planning a meeting with the company’s largest shareholders in the next week but had excluded Frasers from the meeting.

Shortly after this revelation, Boohoo reportedly urged its investors to vote against Ashley’s demands to join the retailer’s board, claiming he was conflicted and “not suitable” for the role. 

Around this time, its half-year results for the six months ending in August 2024 revealed a decline in revenue by 15%, while pre-tax losses increased significantly from £36.6 million to £147.3 million.

The importance of forging the right partnerships for small businesses

The ongoing drama between Boohoo and Frasers Group proves just how critical getting partnerships right is in business – and how quickly things can go wrong without trust, teamwork and clear communication. Shared organisational culture and core values can also be crucial.

When partners have different ways of working, it’s almost guaranteed to cause problems. For example, if one company culture type is open and collaborative which means decision-making may take longer but the other partner favours a hierarchical approach for rapid action, conflicts are bound to happen. For startups and SMEs, the stakes may be smaller in scale, but the lessons are just as relevant.

1. Transparency is key: Issues arise when one party feels left in the dark or excluded from key decisions. That’s why it’s important to keep communication open and honest for everyone involved. For example, through regular updates and team meetings, sharing important data and performance metrics openly, communicating decision-making processes and timely responses to concerns.

2. Shared goals matter: Aligning on a shared vision from the start helps prevent disagreements down the line. Businesses should establish their mission clearly, including what they hope to achieve and how they plan to get there. They should also establish specific, measurable goals via OKRs and KPIs and regularly review them to ensure everyone is aligned and make changes if needed.

3. Address issues early: Small businesses can’t afford prolonged disputes, so they should address concerns directly and quickly to avoid any misunderstandings escalating into major problems. For example, if a supplier’s delivery is delayed, businesses should immediately communicate with them to understand the cause and discuss how to resolve the issue, rather than waiting until it affects customers.

Major banking firm NatWest Group has recently banned its staff from using WhatsApp, Facebook Messenger and Skype on company devices.

This comes amid growing concerns around the use of certain communication channels that make it more difficult to retrieve messages.

Energy regulator Ofgem fined Morgan Stanley £5.41 million in 2023 due to traders using WhatsApp on private devices to discuss market transactions, breaching the rules on record-keeping. The Financial Conduct Authority (FCA) also said it was considering further investigations into how bank staff use messaging services.

WhatsApp’s limitations in storing and archiving messages have raised concerns over compliance with industry regulations, particularly in sectors where record-keeping is mandated. 

Still, as it remains a popular communication platform for small and medium-sized businesses (SMEs), could a complete ban be impractical?

Is WhatsApp Business safe?

WhatsApp is the most popular messaging app in the UK, with 41.4 million people using the platform every month. In the third quarter of 2023, WhatsApp Business was downloaded approximately 1.86 million times.

WhatsApp Business is popular among SMEs for good reason. It can be a useful tool for customer service, as it allows for real-time, two-way communication, making it easier for businesses to respond to customer queries quickly. 

Businesses can also set up automated messages for greetings, FAQs and responses when they’re unavailable. Meanwhile, its end-to-end encryption ensures that conversations are private, which can make customers feel more secure when sharing sensitive information.

But despite its obvious benefits, WhatsApp Business has come under serious criticism for its security practices, particularly after over 100 security flaws were reported in the last two years. 

As the platform allows third-party plugins and integrations, it raises concerns about the risk of unauthorised data access or potential breaches. This means that businesses relying on WhatsApp for customer communications risk exposing sensitive information to security threats, which could damage trust and potentially lead to compliance issues in data protection regulations.

How can I make my WhatsApp Business account safer?

If you use WhatsApp Business for your organisation, there are several ways you can protect your account. This includes:

• Enabling two-step verification: This requires you to set a six-digit PIN that must be entered whenever you register your phone number with WhatsApp again, making it harder for unauthorised users to access your account.
• Limit access to trusted personnel: If you have team members handling customer inquiries, make sure to limit account access to trusted individuals only. Avoid sharing credentials and log out of WhatsApp Web after each session on shared or public computers.
• Regularly monitor linked devices: WhatsApp Web sessions remain open on any device you’ve linked your account to, so you should regularly check for any unknown devices that are connected to your account. Immediately log out of any unfamiliar or suspicious devices.
• Avoid suspicious third-party integrations: While some third-party tools can be useful, they can also risk security vulnerabilities. Only use verified and reputable integrations, preferably those that comply with WhatsApp’s own API and data protection standards.
• Keep the app updated: New security patches are often released with app updates, so make sure to keep your WhatsApp Business app up to date, as regular updates will help protect you against any newly discovered security vulnerabilities.
• Look out for phishing attempts: Scammers may impersonate WhatsApp support or send links that appear legitimate. Avoid clicking on unfamiliar links, sharing personal information or providing your verification code, as this could result in your account becoming hijacked. You can also contact Whatsapp support to check if a message is legitimate or not.
• Encrypt backup: WhatsApp messages may be encrypted end-to-end, but backups aren’t by default. That’s why you should make sure to enable encrypted backups if you store your WhatsApp Business data on cloud services, as this will ensure your messages stay protected, even after a backup.
• Limit sensitive data sharing: Avoid sharing highly sensitive information over WhatsApp, such as financial data or personal identification. Instead, encourage customers to use safer channels such as SMS, chatbots or secure payment gateways for sharing these details, as this will reduce the risk of data exposure.

Data threat risks for SMEs

Data breaches are a significant concern for small businesses and SMEs because they can cause serious damage financially, reputationally and in everyday operations. Over 560,000 new cyber threats are discovered every day, with 81% of all businesses in the UK being classed as small businesses or SMEs. What’s more, only 17% of businesses have carried out cyber security training for staff in the last year.

Small businesses often don’t have the resources to recover quickly from a breach, so if sensitive information, financial records or employee data gets exposed, it can lead to hefty fines, legal costs and the need to fix security systems that were compromised.

Small businesses are often targeted because they might not have the same level of security as big organisations, so hackers can take advantage of weak passwords, outdated software or unprotected devices.

Even seemingly small actions like strong passwords or encrypting data can go a long way in securing sensitive information and maintaining customer trust.

Despite progress in recent years, the number of female CEOs in the UK remains much lower than their male counterparts.

Yet, new research reveals that women-run SMEs are significantly less likely to face insolvency than those led by men, suggesting that female founders might be better at keeping their businesses steady.

Insolvency is higher in male-led companies

According to research by Company Rescue, there’s a significant difference in insolvency rates between women-led and male-led businesses. Women-run businesses had an insolvency rate of 0.41%, whereas male-led companies came in at 0.7% – making them 71% more likely to become insolvent.

The study echoes similar results from Company Rescue’s 2018 survey, in which women-led businesses also showed lower insolvency rates. The only notable difference was the type of businesses that became insolvent at the time.

Which industries are the most insolvent?

The study revealed that nine times as many companies are run by men than women. Construction businesses are more likely to be run by men, while education businesses are predominantly female-dominated.

Kevin Steven, Managing Director at Company Rescue, said that the higher insolvency rate in male-led businesses could be due to various factors, rather than just gender alone.

“It may well be that businesses tend to be more likely to become insolvent due to the nature of the industry or recent economic events that are coincidentally run by men,” he commented. 

“In 2018 property businesses made up a higher proportion of women-run businesses that went into insolvency whereas in 2024 it was retail and education. This might suggest that the business sector is not that relevant and so pointing to a higher financial competency, or less risk-taking, by women directors.”

Further research revealed that between July 2023 and 2024, male-led businesses in the construction sector saw the highest rates of insolvency, while wholesale retail companies saw the highest insolvency rates for women-run businesses.

Most insolvent male-led businesses

Sector	Insolvency Rate
Construction	17.87%
Wholesale Retail	12.21%
Manufacturing	12.21%
Food and Hospitality	10.68%
Admin Support	9.69%
Sci Tech	8.29%
IT and Telecoms	8.21%
Real Estate	5.11%
Finance	5.07%
Other	2.67%
Transport	2.54%
Health and Social	1.6%
Sport and Rec	1%
Arts	1%
Education	0.87%
Agriculture	0.44%

Most insolvent female-led businesses

Sector	Insolvency Rate
Wholesale Retail	16.99%
Food and Hospitality	13.4%
Admin Support	12.75%
Other	10.78%
Sci Tech	9.84%
Manufacturing	7.84%
Health and Social	6.54%
Education	6.53%
Real Estate	4.58%
IT and Telecoms	4.58%
Arts	2.61%
Construction	2.39%
Sport and Rec	1.3%
Finance	0.33%

Are female business owners more likely to succeed?

The results from Company Rescue’s research strongly suggest that women-led businesses are more resilient to insolvency — so does this mean female founders are more likely to succeed?

Since 2021, the share of women-led businesses in the UK has grown significantly, rising from 18.3% of all high-growth companies in 2021 to 29.7% in 2024. 

Moreover, despite the financial obstacles female founders face when starting a business, many remain optimistic about the growth of their business, as nearly two thirds of women (65%) expect their businesses to grow in the next year, while 40% expect a 20% increase in income.

In March 2024, research revealed that companies with more than 30% female executives were more likely to outperform those with less. Organisations with a good level of gender diversity were also 25% more likely to achieve above-average profitability than companies with less diverse teams.

Statistics for employee engagement and satisfaction have also suggested greater success in female-led businesses. According to data reported by IFA Magazine, employees are 13% happier in companies with female founders, particularly those that build a strong organisational culture, faster career progression, and a better work-life balance. It was also revealed that female-founded businesses offered 14% greater compensation and company benefits, and diversity and inclusion were 15% stronger.

The gender funding gap

While the above figures paint a positive picture for women-led businesses, it’s impossible to ignore the problem of the UK’s current gender pay gap, and the lack of investment funding for female-led businesses compared to their male counterparts.

Women-led businesses in the UK are receiving significantly less funding than male-run companies. In 2023, the average female-founded business received £763,000 in funding compared to £4.7 million for male-led businesses, meaning they received 6.2 times more funding than female organisations.

Closing the gender funding gap isn’t just important for equality —  it can also help to boost the UK’s economy. A report by the Alison Rose Review of Female Entrepreneurship revealed that up to £250 billion of new value could be contributed to the economy if women-led businesses are started and scaled at the same rate as male-run companies.

Entrepreneur Debbie Wosskow and Barclays Bank executive Hannah Bernard also launched the Invest in Women Taskforce initiative in March 2024, aiming to help female founders gain more investment for their businesses.

According to Wosskow, the percentage of equity capital going to women-founded businesses has declined from 2% to 1.8% within the last year. Meanwhile, the percentage of capital going to all-male founding teams increased from 80% in the first half of 2023 to 86%.

“We need to rally the retail banks and the pension funds to commit capital to female entrepreneurs as LPs,” Wosskow said. “If there is a significant pot of money we will get great talent. We can ensure we’ll get the highest quality entrepreneurs and investors coming to the UK.”

Alongside the gender funding gap, there’s also the gender pay gap. According to research by Korn Ferry, women CEOs in the UK’s FTSE 100 index get paid 23.5% less than male business owners. The average pay for male FTSE 100 CEOs was £4.3 million in 2022, while women CEOs were paid £3.4 million.

Should investors back female founders?

According to the data we’ve cited, female-led businesses are not only proving to be more resilient but are also more likely to thrive in the long term.

With lower insolvency rates and a growing share of high-growth companies, women founders are showing they have the skills and vision to run successful businesses. Research also shows that companies with diverse leadership teams tend to perform better, which is beneficial for both the organisation and investors.

That being said, female founders still face significant challenges when it comes to securing funding, as they receive much less investment than businesses run by men — ultimately holding back their growth.

With more investors backing female founders, they’re not just helping to create a more equal playing field — they’re also investing in companies that are proving to be financially sound, resilient and ready for long-term success. Closing the funding gap isn’t just about fairness; it’s also an important move that can help drive the economy forward and unlock a lot of new potential.

Each year, thousands of business students from across the UK spend months poring over textbooks to learn the ins and outs of running a company, in hopes that they can pass their exams and start their own business one day.

Some of the questions they face, however, could stump even an experienced CEO. In 2024, just 4.1% of students achieved an A* in their A Level Business course. Think you’d be one of them? It’s time to go back to school.

We’ve pulled together seven questions from this year’s A Level and Scottish Higher exams. Do you know your equity from your exit strategy? Open your question papers, and let’s begin.

Question 1 – name two pricing strategies that can be used when launching a product.

Knowing how to calculate your prices is one of the most important steps for businesses in today’s economic climate. Have you heard of these pricing strategies? Select an answer from one of the below four options.

Question 2 – describe a strategy an organisation could use to extend the life cycle of a product.

Longer-lasting products can help businesses to maintain their market position and customer base. But how do you extend the life cycle of a product? Select an answer from one of the below four options.

Question 3 – choose the way an organisation would NOT promote positive employee relations.

Improving relations between employees can have positive impact on productivity and morale. Select an answer from one of the below four options.

Question 4 – complete the following: “cash budgets are useful to…”

Cash forecasting is one of the most important skills you’ll need to design a comprehensive business plan. Select an answer from one of the below four options.

Question 5 – describe what is NOT a method of appraisal.

Employee appraisals are a key part of performance management strategies. Select an answer from one of the below four options.

Question 6 – describe the factors a business would consider when choosing a method of production.

The choice of a production method is a critical decision for any business that must take into account multiple factors. Select an answer from one of the below four options.

Question 7 – which of the below is NOT a method that can be used to ensure product quality?

Quality checks are key to ensure your goods and services meet the expectations and needs of customers. Select an answer from one of the below four options.

Time to mark your test!

Pencils down – it’s time to find out how you’d score if you were studying an A Level business course today. Read on for the full list of answers to the above seven questions..

Results day: how did you score?

• 1-2: stay behind and see us after class.
• 3-4: it might be time for some remedial lessons..
• 5-6: a solid effort. For that reason, we’re in.
• 7: Alan Sugar? We had no idea you read Startups!

Want to improve your test score? Check out more of our small business guides to get revising and ace your resit.

Ever woken up after a night out, looked at your bank account, and thought – ‘how much’? Sometimes it can seem like your usual round of drinks cost a lot more than normal. And it might be because of dynamic pricing strategies.

Dynamic pricing is where businesses set flexible prices based on customer demand. One common form is surge pricing (where prices automatically rise when demand is high).

Brits may assume that dynamic pricing is reserved for the aviation or real estate sectors. Once you look out for it, though, it’s everywhere. I recently bought a ‘Pre-2pm Entry’ ticket to London nightclub, Drumsheds. I wasn’t psyched to do the two-step in a warehouse, sober, at midday — but the early bird wristband cost £30 less than a standard ticket.

As more sectors struggle with tight profit margins, restaurants, clubs, and bars are all getting creative with the final bill. Below, we list the new fees you could soon encounter on the UK high street, and explain why businesses will lean further into dynamic pricing in 2025.

1. Watershed charges

In June, experts reported that the average cost of a pint in the UK had tipped over £5 for the first time. It was already well above this in London, but dynamic pricing there means it could soon cost drinkers a tenner.

According to The Independent, O’Neill’s on Wardour Street will apply a £2 surcharge to any drink served after 10pm to pay for late-night door staff. That means even those who have switched to soft drinks won’t be rewarded for struggling through a glass of soda water.

Only the eagle-eyed (unlikely to be anyone in an O’Neill’s pub after dark) would have seen the A4 sign outlining the fee. But after it was shared online, the news caused outrage. “No proper pub would ever adopt surge pricing — shame on O’Neill’s”, wrote one X user.

2. Dinner rush

Running a restaurant or gastropub costs much the same amount of money, whether you have bums on seats or an empty dining room. Owners will often be savvy by offering incentives such as a pub quiz or happy hours, to entice customers in during quieter times.

Now, however, all discretion has gone out the window. Many businesses are flat out charging more at peak dinner times, in order to capitalise on Saturday date-nights and to make an impromptu night out on a Tuesday seem more economical than waiting until the weekend.

Stonegate Group, which owns Slug & Lettuce and Yates bars, has said it will charge about 20p more per pint during busy evenings and weekends. US fast food chain Wendy’s, which has outlets in the UK, has debated raising prices at busy moments for customers.

Third-party providers are also helping to plug gaps in booking sheets. For example, reservation app Ambl allows restaurants to contact users with promotions if a table opens.

Ten days on from the Autumn Budget, the UK government is facing a barrage of pushback from shop, bar, and restaurant owners that have banded together to decry the impact on businesses.

Over the weekend, supermarket bosses lambasted the rise in employer National Insurance contributions (NICs). Meanwhile, more than 200 hospitality leaders wrote a letter to the Chancellor warning the changes are “unsustainable” and could force many firms to close.

Ahead of the Budget, the government went to great pains to tell businesses to expect little, warning that a spending “black hole” would require substantial tax rises.

Still, the package has clearly caught many off-guard. And while Whitehall vowed to not increase taxes for “working people”, what’s bad for business can be very bad for workers.

Budget weighs heavy on high street

Funny how a small number can tip the balance sheet. Employer NICs will rise by 1.2 percentage points next April, but the true cost for businesses will be a much higher number.

In an open letter to Chancellor Rachel Reeves, UKHospitality board members — who include the boss of Stonegate Group, owner of 4,800 pubs — laid bare the damage to profit margins. Ultimately, customers will have to pay more in order to keep pubs and restaurants from going under, and would need to raise prices by 6% to 8% to absorb the NICs burden.

“The changes to the NICs threshold are not just unsustainable for our businesses, they are regressive in their impact on lower earners,” the letter reads, adding that the changes will “unquestionably lead to business closures and job losses within a year.”

Hospitality is already struggling to hire employees thanks to labour shortages. At the end of October, a survey by Startups of 531 SMEs found that the industry has the most businesses that are less than one year old (22% compared to 12% in the next-highest, construction).

This is likely a consequence of the many older pubs and bars that have been forced to close already due to rising staffing costs in the past half decade.

Retail woes

The whole high street is feeling the pinch. Asda has described the Budget as a “big burden” that will cost around £100m, and would likely lead to price rises for customers.

Separately analysis by US consultancy Morgan Stanley has found that Tesco, which employs around 300,000 workers in the UK and is one of the country’s largest employers, will need to spend £1bn more in National Insurance payments.

Add to that the new minimum wage, which will also come into effect next Spring, and hiring plans will likely have to go out the window for many struggling employers.

Pay rises run dry

Putting the onus of tax rises on businesses, rather than workers, was the obvious goal of the Autumn Budget. Yet if payroll costs become too high, or customers decide to shun their £8 pint, it’s not just organisations who will suffer, but staff and job seekers as well.

Also in our survey, three in ten SMEs told us they expected to hire between one and five new staff members for 2025. Yet, if recruitment becomes unaffordable, such hopes of scale-up may be dashed. Pay rises for existing employees may also become out of reach.

“[As a result of the budget], many businesses will have to reconsider investment and drastically cut jobs and reduce the hours of team members”, predicts the UKHospitality letter.

Support for SMEs?

Official statistics indicate that 99% of all hospitality and retail businesses are SMEs. Before it came to power, Labour had pledged to support these firms by reforming business rates. However, in the Autumn Budget, its promises went the other way.

Reeves served up a small plate for companies in the form of 40% relief on business rates. However, this is a significant drop since last year. Known as Retail, Hospitality, and Leisure (RHL) Relief, the discount had been set at 75%.

UKHospitality is now proposing that the government bring forward its plans for business rates reform to April 2025, in order to mitigate the impact of the incoming tax changes.

“We understand that these proposals come at an immediate financial cost,” concludes CEO Kate Nicholls, “but we are absolutely firm in our belief that the lost growth potential which would result from inaction would be substantially more expensive”.

Have your spending plans been scuppered by the budget? Learn how to create a cashflow forecast to predict your business’ financial future.

From web designers to Deliveroo riders, the gig economy is one of the fastest-growing sectors in the UK. It brings plenty of benefits for businesses, giving them access to a flexible, low-cost workforce. Yet the shine may be wearing off for workers.

Last Friday, 15,000 drivers for the ride-sharing app, Bolt won a legal claim to be classed as workers in the UK. The ruling means they will qualify for basic employment protections such as being paid the minimum wage and accruing holiday pay.

That sounds like a reasonable adjustment to most of us. But, the win was hard-fought for by the law firm, Leigh Day. It follows a similar judgement in 2021, when the UK supreme court held that Uber drivers were entitled to certain employment rights.

Gig economy controversies have become rife in recent years, as shady employers take advantage of leaner laws for part-time staff. We explore the rise of the gig economy, and ask how — and if — lawmakers can control a sector that seems to have outpaced regulation.

The future of work

The foil to traditional 9-5 employment, gig economy jobs surged in popularity post-COVID, as more Brits sought out flexible, short-term contracts.

The trend has since come to define the new ‘future of work’ post-pandemic. Research by StandOut CV estimates that one in six UK adults now work a gig job at least once a week. Combined, this group contributes around £20bn to the UK economy.

In September, the Recruitment and Employment Confederation (REC) surveyed 520 temp workers in Britain. 79% said their work provides added flexibility, while 68% said it improves work-life balance (the ability to juggle personal and professional commitments).

“Workers shared a wide variety of reasons for why temporary work is the best option,” said Rufus Hood, Country Manager UK at Coople. “Fitting in work alongside studies; balancing work and childcare; and picking their own hours in semi-retirement were just a few.”

According to the official public record, there are four types of self-employed workers. These include those who freelance full-time, as well as employees who work in the gig economy to supplement their main source of income (also known as a side hustle).

However, there are also many among the self-employed who “reluctantly earn money within the gig economy”, as well as those who feel they have no alternative but to take on freelance work.

For the latter two groups, the benefits of a gig role are cancelled out by the absence of protections afforded to those who can qualify for sought-after ‘employee’ status.

Self-employed or soul-destroyed?

Platforms such as Bolt, Uber, and Deliveroo employ tens of thousands of independent contractors. While managing a workforce this size would cost millions, hiring self-employed workers lets the apps operate on a leaner business model, minimising costs and liabilities.

Recruitment for gig work is not just for big companies, though. A recent study by 1st Formations found that 53% of small businesses are looking to hire on a contractor or freelancer basis, compared to 21% that plan to hire permanent roles.

Unfortunately, the popularity of the gig economy model has become its own worst enemy. As consumers demand faster service delivery across sectors, global competition has driven down wages, resulting in lower income and job instability for workers, who miss out the benefits of paid leave and protected working hours.

Because platform-based gig work has expanded rapidly, governments have been slow to implement regulatory measures, inviting bad actors across all sectors.

Last week, the Guardian reported that a shift-work platform, Temper Works, had advised hospitality firms to circumvent new tipping laws by employing its freelance workforce.

The company apparently claimed that these workers were exempt from the legislation, allowing businesses to avoid the added costs and complexities of tip allocation — and confirming concerns from experts that some customer tips still wouldn’t go to service staff.

Has the horse bolted on regulation?

Critics had hoped that the gig economy gaps would be addressed in the Employment Rights Bill. Alongside a raft of worker reforms, the Bill promised to introduce a ‘single worker status’ for self-employed staff, as well as ban “exploitative” zero-hours contracts.

However, these measures went missing from the published Bill (although the latter is expected to be implemented using secondary legislation).

Whitehall may have been spooked by the cost impact that the change could have on employers. Lawyers for the Bolt claimants believe the compensation owed to their clients could be worth more than £200m.

Still, despite a slow response from the government so far, the Bolt ruling signals a changing of the tide for the UK gig economy. It’s one that could spur MPs to act sooner and pave the way to thousands of people gaining employment benefits and rights.

Or so James Farrar, head of pressure group Worker Info Exchange, hopes. Over the weekend, Farrar said the government should move to address the issue of worker status.

“[Bolt’s case] confirms that many workers are “trapped in an employment relationship where they are systematically denied basic rights”, he said. “Absence of regulatory oversight has not only caused serious problems for workers but is leading to serious market dysfunction.

“It is a shame that the government baulked on addressing worker status in the current employment bill and should now do so in light of this ruling.”

Job interviews are nerve-wracking which is why preparing some key questions for the end of the interview can be a good way to keep your nerves down.

From asking about salary expectations to finding out more about organisational culture, there’s a lot you might want to know and only a short amount of time to ask.

The questions a candidate asks tells an interviewer a lot about them, their fit for the role, as well as their motivations and personality fit for the team. 

We’ve put together this list of questions to help both interviewers and interviewees prepare, ensuring you both get the most out of the interview experience.

Best questions to ask at the end of an interview 

Let’s take a look at some of the best interview questions a candidate can ask during the hiring process. 

“What are the daily responsibilities of this role?”

Asking about the daily responsibilities of the role not only shows an interviewer that you’re organised and want to be prepared, it also gives you the chance to work out if the role will suit you. 

This question will give you an insight into what skills and experience are required, and an understanding of what the employers’ expectations are – all useful information to have before the job is offered and work begins.

“What are the first projects I will work on?”

Discussing the initial projects that the successful candidate will be working on is a good way of ensuring everyone has the same expectations.

The last thing anyone wants is to arrive on their first day and discover they’re in charge of a multi-million pound project ,or that they’re picking up a project that’s been left in disarray. 

For an interviewer, this question shows that a candidate is engaged, organised and keen to get started.

“Is this a new role or will I be taking over from someone else?”

Asking this interview question shows an interviewer that a candidate is thinking about how they will fit into the team. 

If the role previously belonged to someone else then there may be incomplete projects to be picked up, or existing systems to understand. A brand new role, however, offers more initial scope to make your mark quickly. 

“What are the company training and progression opportunities?”

This is a great  question to ask at the end of the interview as it shows the interviewer that the candidate is serious about their career and their future within the organisation.

As an interviewee, it allows you to find out if the role aligns with your own future goals. It’s a great chance to bring up any specific requirements you may have in terms of progression and training too.

“Could you tell me more about the team I would be working with?”

This will allow everyone to figure out exactly where you will fit in within the existing company structure, who you will be reporting to, and who may be reporting to you.

Asking this question also gives the opportunity to talk about any previous teams you’ve worked in and how they relate to this one.

“What is the performance review process? Andow often will I be formally reviewed?”

Asking about performance reviews shows an interviewer that a candidate is serious about the role and doing it to the best of their ability.

Not only does it showcase professionalism, but it also offers insight into how employees are supported and the overall organisation culture.

“What’s your favourite thing about working here?”

Asking the interviewer a personal question like this, while still related to the role, can mean you can build up a camaraderie with them from Day One.

People love to talk about themselves and personal questions offer a unique insight into the company values and working environment that can’t be found anywhere else.

Why do interviewers ask “do you have any questions”?

Interviewers ask “do you have any questions” for a variety of reasons, mainly to find out more about the candidate and their fit for the role.

Some of the insights an interviewer may be hoping to get from asking this question are:

1. Is the candidate prepared? If you have prepared questions to ask, it already shows that you’re taking the interview seriously.
2. Are they a good fit? The questions you ask, and how you respond to the answers, will show if you would fit in well at the organisation.
3. How engaged are they with the role? Having questions to ask shows that you’re actively engaging with the interview, suggesting that you care whether or not you get the job. Something every interviewer wants to see.

Final thoughts

Interviews are daunting and if you’re unprepared then being asked “do you have any questions?” could make or break your chances of success. 

Preparing a few interview questions ahead of time will help to keep your nerves down and showcase you in the best light. Don’t overdo it, a couple of questions is plenty, and make sure you don’t ask about something that’s already been covered.

For interviewers, opening up the interview to questions allows you to see if a candidate is prepared and engaged or if they are simply going through the motions.

And for more hiring advice, take a look at our expert guide to the recruitment process. 

Check out our other guides for preparation and answering interview questions:

• How to introduce yourself in a job interview
• How to answer ‘tell me about yourself’
• How to answer ‘why do you want to work for us?’
• How to answer ‘what are your weaknesses?’
• Illegal questions you shouldn’t be asked in an interview
• How to prepare for a job interview

In order to attract the best talent, most companies know that they will need to offer an attractive employee benefit package. From holiday allowance to savings schemes, there are plenty of options to consider.

But what about sabbatical leave?

Sabbatical leave is where an employee takes a period of time away from work, either paid or unpaid, to undertake personal or professional development or projects.

It’s better-known across the pond. But plenty of “big name” companies in the UK now offer sabbaticals as standard parts of their policies. Let’s take a look at some of them.

Final thoughts

Sabbatical leave can be beneficial for employees and employers alike. It offers employees a greater work-life balance, and the chance to undertake personal projects that enhance their wellbeing. 

When they return to the workplace they are likely to feel rejuvenated, engaged and productive, all things that will boost your business. Many workers choose to undertake upskilling and professional development during sabbaticals too, meaning they return with new skills and experience to apply to their roles – a major asset.

It’s not just sabbaticals that you should consider either, there are tons of employee perks you can introduce to boost staff engagement and morale and better retain your talent, and these are unpacked in the links enclosed. 

So, now you know…we can see those job applications going off already!

Discussions surrounding the elusive work-life balance have been ramping up in recent months, with many companies introducing greater flexibility to working hours, including implementing a four-day week.

But now there’s a new kid on the block – the nine-day fortnight. This flexible working arrangement could be the perfect solution for those who want to move away from the five-day week, but who aren’t ready just yet to lose an entire day four times a month.

At the start of November, 17 organisations began trialling the nine-day fortnight as part of the UK’s second four-day week trial. Let’s take a look at how it works, and how you can implement it in your organisation.

What is a nine-day fortnight? 

Simply speaking, a nine-day fortnight is the concept of condensing 10 days’ work into nine, giving you one day off every two weeks.

Staff would work the same hours they are contracted to over a two-week period, but would work extra hours for the first nine days of the two weeks, allowing them to take Day 10 off.

How do you calculate a nine-day fortnight? 

To calculate a nine-day fortnight, you’ll need to first work out a worker’s contracted hours for a two-week period.

For example, if a worker is contracted to work eight hours per day, their contracted hours for two weeks would be 80 hours (on the assumption that they work five days per week).

In order to work a nine-day fortnight instead of 10, the worker simply needs to make up the eight hours they will take off. 

For example, they could work for an extra hour Monday – Friday in Week One and then Monday – Wednesday in Week Two in order to take the Friday off that week.

Most businesses will introduce a cycle structure so that you can be clear on what is Day One, and what is Day ten, aka the day off.

How do I work a nine-day fortnight? 

If you’re an employee and you think a nine-day fortnight could be the ideal working setup for you, then you’ll need to sit down with your managers and HR department.

While ultimately the decision will lie with your organisation, thanks to the Flexible Working Bill that came into effect in April 2024, employees no longer need to have worked at a business for 26 weeks or more to request flexible working arrangements and can instead ask from day one.

If you want to pitch a nine-day fortnight to your manager, do your research and clearly explain the concept, reiterating that you’ll be working all of your contracted hours over the two-week period.

Is it the new four-day week?

Another common flexible hours option is the four-day week, but a nine-day fortnight isn’t the same thing.

A four-day working week tends to remove a working day altogether.  Whilst employees will often work longer hours for the four days, they’re unlikely to make up the full day that’s lost.

In a nine-day fortnight model, however, employees will work the exact same hours over a two-week period, with the hours condensed down to nine days.

A nine-day fortnight therefore can often have less impact on the day-to-day running of a business and on staff productivity. 

At the start of November, the UK began a new four-day week trial. Many participants will work a nine-day fortnight, suggesting it could be a good compromise for firms that aren’t comfortable with a four-day week, but want to explore alternative flexible work options.

Final thoughts

Introducing a nine-day fortnight model could come with a host of benefits, including better staff morale and wellbeing, increased productivity and longer staff retention. 

Changing the working model of an organisation can be daunting, but a nine-day fortnight shouldn’t introduce too much disruption, and could actually result in major mutual benefits for employers and employees.

If you’re thinking about introducing a more flexible model, take a look at our guide to every flexible working approach to help you figure out which one is right for you.

Kazakhstan has become the latest country to embrace digital nomad visas with the launch of its first ever “Neo Nomad Visa”. The scheme, which is aimed at remote workers and freelancers, will enable Brits to live and work in the country for up to one year.

The move means Kazakhstan will be the first Central Asian country to open its doors to digital nomads and ensure that the country is “part of the travel map for modern nomads”, according to Minister of Tourism and Sports, Yerbol Myrzabossynov.

Announced by the Kazakhstan government five days ago, the visa programme is still in its early days. Below, we’ll explain what we know so far, including the rules on eligibility.

What do we know about the Kazakhstan Neo Nomad Visa?

Over 50 countries now offer official digital nomad visas including Italy, Japan, and Thailand. Eligibility is similar across countries, although income requirements will typically differ depending on the country’s GDP. For Kazakhstan, applicants must:

• Earn a stable income of at least $3,000 (around £2,300) per month
• Have health insurance
• Not have a criminal record
• Work remotely for a foreign employer that is not based in Kazakhstan

In a post shared from the Instagram account of the Ministry of Tourism and Sports of the Republic of Kazakhstan, the department lists a wide range of industries that applicants can work in including programming, marketing, finance, consulting, design and ecommerce.

How can you apply?

Brits can apply for a visa from the Kazakhstan government’s visa website. There is the option to submit an e-visa via the portal, which means you won’t need to fill out paper forms or visit the Kazakh embassy in central London.

It is unclear how much the service will cost. However, the country charges $60 for tourist visa applicants and $80 for businesses, so expect the application fee to be in that ballpark.

Kazakhstan is estimating that around 500 people will apply to receive a visa per year, for an economic impact of around 3.6 billion Kazakhstani tenge, or £5.6 million.

Why would you want to work remotely in Kazakhstan?

Currently, the most popular digital nomad destination for wanderlusting Brits is Spain. But for those who want to see a world beyond European beach resorts, Kazakhstan provides a very different culture and landscape for remote workers to explore.

The world’s largest landlocked country, it is one of the oldest nomad cultures with Turkic nomads having entered the region from as early as the sixth century. It was also one of the key destinations on the Steppe route, a precursor to the Silk Road.

From the peaks of the Tian Shan mountain range, to the miraculous Lake Balkhash that’s one half salt water, one half freshwater (also a hotspot for beach tourism), Kazakhstan is a vast country with grassland and sandy regions abound.

For those who don’t want to work in a Kazakh yurt, there’s also the cities of Almaty and Astan which both offer a maze of eccentric architecture and coffee shops with power outlets.

It’s not a path to citizenship

It is currently unclear whether Kazakhstan will allow families to apply for the digital nomad visa. LGBTQ+ applicants who are considering bringing their spouses should be aware that Kazakhstan does not recognise same-sex marriage or civil unions.

That said, remote workers shouldn’t view the country as a potential forever home. Unlike countries like Portugal, which allows nomads to apply for permanent residence and Portuguese citizenship after five years, Kazakhstan is stricter on citizenship.

Almost uniquely, Kazakhstan does not allow residents to apply for dual nationality. If any Kazakh is found to have multiple passports they are fined and stripped of their citizenship.

Applicants therefore should view the visa as just a chance to work and live in one of the most fascinating and underexplored countries in the world. No biggie.

“[The digital nomad population] is over 35 million in the world,” added Myrzabossynov. “We intend to do everything possible to attract them back to our country.”

Want the digital nomad lifestyle, but not sure where to start? Read our full guide on how to become a digital nomad.

Ever dreamed of personal recognition from your favourite singer, actor or internet personality?

Well, that’s exactly what Cameo was made for. Customers can use its online platform to purchase personalised video messages from a wide range of celebrities – requesting personal shoutouts for different occasions, such as birthdays, anniversaries, graduations or just for fun.

But things behind the scenes have been anything but fun for Cameo. While the company was thriving during the COVID-19 pandemic – reaching a valuation of over $1 billion in 2021 – it wasn’t long before the novelty began to wear off and demand for personalised videos started to dwindle.

As a result, the company laid off around 167 employees in 2022, before downsizing again the following year. Its workforce shrunk from nearly 400 to fewer than 50 and its valuation suffered, dropping by a staggering 90% after a $24 million (£19.44 million) funding round.

The state of Cameo’s business is a far cry from its glory days during the pandemic, but is declining demand really to blame for its downfall?

Market saturation

Market saturation happens when a product or service has reached its maximum potential in the market, resulting in diminished growth opportunities.

For Cameo, while it popularised the concept of personalised video messages, it wasn’t long before competitors joined the scene. Platforms like Fanmio and Memmo began attracting celebrities and users, which quickly ruptured the market and Cameo’s unique appeal started to wear off. 

Competitors also started to expand their offerings. For example, Fanmio began hosting special events and promotions across the US, including various boxing events and the Arnold Sports Festival in 2023. This created a lot of buzz around the brand, leaving Cameo losing its foothold.

Lack of celebrity engagement

Celebrities are busy (and expensive) people, and some became less available to fulfil requests due to their schedules quickly filling up, leading to delays in delivering the videos. The quality and effort put into these videos also depended on the individual celebrity’s enthusiasm and willingness to engage. This caused a lot of frustration for Cameo’s customers, some of which have reported no-shows from celebrities and poor customer service on the company’s Trustpilot reviews.

Moreover, as the entertainment industry adapted post-pandemic, many celebrities shifted their focus back to traditional work, and so just didn’t have the time for Cameo anymore. It was reported that over 10,000 celebrities joined Cameo in 2020, producing over 30,000 hours of content altogether. 

As of April 2024, this number has increased to 50,000, though given the negative Trustpilot reviews and the company’s mass layoffs, this hasn’t helped to improve user trust or customer experience.

Legal troubles

Cameo expanded its business model in 2020, including the launch of Cameo for Business, which would allow companies and brands to purchase personalised videos from celebrities for marketing purposes. It was designed to attract businesses looking to incorporate celebrity endorsements into their marketing strategies, and brands could request them to promote their services, advertise special events or use the videos for customer engagement and social media campaigns.

However, this expansion would only land the company in legal trouble. In July 2024, the company was found to have breached Federal Trade Commission (FTC) rules surrounding celebrity endorsements, which require influencers and celebrities to disclose any connections they have with brands when promoting products or services. 

Cameo was fined $600,000 (£486,000) by the FTC for failing to comply with these rules. According to a settlement agreement reported by New York Attorney General Letitia James, it was unable to pay the original fine and agreed to settle for $100,000 (£77,066). The settlement also included a provision that allowed the state of New York, plus 29 others involved, to pursue the original amount if Cameo fails to pay the $100,000 within the next three years.

New compliance measures were also imposed, including a watermark system to identify videos booked, mandatory acknowledgements from brands and celebrities regarding endorsement rules and a system to monitor compliance effectively.

Pricing issues

Celebrities could set their own fees for personalised video messages. This meant video messages could cost as little as £5 to several thousand pounds. This led to inconsistent pricing, where some users felt overcharged for videos that didn’t meet their expectations, while others questioned why certain celebrities charged so much.

For example, a user on Reddit claimed that it had cost them £90 to get a Cameo video from pop-rock band Bastille. After their request was cancelled, prices for a personalised video from the band started to rack up to nearly £300. Meanwhile, another user reported that a Cameo from American media personality Caitlyn Jenner cost $2,500 (£1,926).

Additionally, as the economy changed, particularly with inflation and the cost-of-living crisis, spending on services like Cameo became harder to justify. What was once considered a fun splurge during the pandemic began to feel less important. This, along with the perception of overpriced videos, led to a decline in repeat purchases and user engagement.

Changing consumer preferences

Customer needs and preferences are always changing and for Cameo, the novelty of personalised celebrity video messages simply wore off. In 2020, the company’s customer base grew by 250% year-on-year (YoY), while also hitting a milestone of over 2 million app downloads.

Cameo’s business model worked during the pandemic as people were looking for creative ways to celebrate and connect with others. However, as restrictions eased and traditional forms of entertainment and social interaction returned, the demand for these types of services declined. 

Moreover, customers started gravitating towards more interactive and real-time experiences on platforms like TikTok, Instagram and Twitch, where they could engage with celebrities and influencers directly – making Cameo’s pre-recorded messages feel sub-par in comparison.

The failing NFT market

Cameo made moves into the non-fungible token market (NFT) in 2021. At the time, NFTs were booming – hitting $25 billion in sales. The company ventured into this space to try and diversify its revenue streams and capitalise on the growing interest in digital collectables.

Cameo Pass was introduced as a collection of NFTs that provided fans with exclusive access to certain perks, such as celebrity meet-and-greets, private virtual events and unique content. The NFTs were marketed as membership tokens, giving holders special privileges within the Cameo ecosystem. 

The problem was that the NFT market was soon flooded with new projects in 2021 and 2022, leading to oversaturation. This meant that Cameo’s entry into the space didn’t stand out among more established NFT platforms like OpenSea or Binance. That, and the original hype surrounding NFTs began to die down. Many projects have seen a steep decline in demand and value, with 96% of NFTs now considered to be “dead” in the crypto and Web3 space.

Cameo’s story from a pandemic-era sensation to a struggling platform is a sad one but is a stark reminder of how difficult it can be to maintain momentum in changing markets. As interest in personalised video messages fizzled out and competition intensified, Cameo’s business model struggled to adapt. While it’s still operating now, its stark decline in its workforce and valuation certainly raises questions about its long term viability.