UK businesses set for four-day week revolution in 2024 2024 could be the year of the four-day week, as research finds a huge number of businesses plan to trial or implement the policy this year. Written by Helena Young Updated on 10 January 2024 The traditional five-day workweek could soon be a relic of the past for a significant chunk of the UK workforce. Research shows 12% of UK businesses plan to adopt a four-day working week in 2024, marking a seismic shift in company attitudes towards flexible working.Startups surveyed a representative sample of 546 small businesses at the end of 2023. The results indicate that, despite prior concerns over productivity and impact on pay, the four-day week has won over both employees and employers.The trend underscores a broader effort to improve work-life balance amongst UK workers. The same study also found that 66% of companies will embrace a flexible work model, such as a hybrid or remote policy, in 2024.What’s behind the four-day week boom?That 12% of UK small businesses are considering embracing a four-day week in 2024 is significant. Proportional to the current SME population, this would represent a total figure of 660,000 firms and thousands of jobs.Four-day work weeks have rapidly entered into the mainstream following a successful global trial last year. This interest has particularly accelerated in the UK, due to poor levels of employee engagement.Record numbers of employees are leaving the workforce due to an increase in levels of burnout and stress. Likely, the crisis will only be exacerbated this January. The beginning of the year is one of the toughest months for career blues.UK companies with a four-day week cite a multitude of reasons for embracing the shorter workweek, including improved employee wellbeing.In fact, Startups’ four-day week survey found that the majority of four-day week advocates believe it will help to reduce stress and boost morale.Interested in working a four-day week this year? Read our guide on how to request a four-day week from your employer.Stress less, earn more?The potential impact of the four-day week trend is significant. It could reshape the UK workforce, leading to improved employee morale and a more balanced work-life culture.Studies also suggest that shorter workweeks can actually lead to productivity gains. With fewer hours to spread themselves thin, employees are forced to prioritise tasks, focus more intently, and ultimately achieve more in less time.The result may help UK companies square the circle by enhancing employee satisfaction without breaking the bank with increasingly unaffordable salaries.Challenges of a shrunken workweekOf course, implementing a four-day week isn’t without its challenges. Businesses need to carefully consider how to distribute tasks, schedule meetings, and maintain operational continuity with fewer working hours.Additionally, questions around employee pay and benefits during the transition need to be addressed transparently and collaboratively.Likely, some of the 12% of firms planning to adopt a four-day week this year will opt for pilot programs, testing the four-day week in specific departments before a wider rollout.Others might choose to explore alternative forms of the shorter week. For example, allowing employees to spread their 40 hours across fewer days or condense them into longer, focused stretches.You can learn more about a shortened work week and how it might benefit your business in our complete guide to the four-day working week. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
28 CRM statistics you need to know We uncover compelling CRM statistics to help you understand how to make a transformative impact on your marketing, sales, and business comms. Written by Helena Young Updated on 10 January 2024 For startups and small business owners, navigating customer relationship management (CRM) systems can often feel like a cascade of jargon and sales pitches. The overwhelming feature lists that all claim to be “exactly what you need” can also leave you confused about what actually works for your business.Fortunately, if you’re just after the facts, we’ve sourced the top statistics from across the CRM industry to help you out.We’ll be sharing 28 critical CRM statistics to help you make informed and strategic decisions about which CRM system to choose for your business. These figures are backed by evidence and industry insights to better understand how CRM tools can boost growth, keep customers happy and improve your sales process. In this article, we will cover: The CRM statistics you need to know CRM market overview Key benefits of CRM for SMEs CRM implementation best practices The CRM statistics you need to knowThese statistics provide a clear picture of how CRM systems can help businesses, from boosting customer retention to influencing marketing strategies.CRM stats for customer retentionCRM adoption and customer retention: 47% of businesses reported higher customer retention after adopting a CRM system (DemandSage). Meanwhile, others claimed to have a 17% increase in lead conversions and a 21% rise in productivity.Improving customer experience: providing better customer service is the primary motivation for using CRM tools for 35% of businesses. 86% of SMEs using CRM software rated their customer services as “exceptional” or “very good”, compared to 73% without it (Freshworks).Integrating AI with CRM systems: more businesses are also integrating artificial intelligence (AI) into their CRM systems, leading to a 15% increase in repeat sales and customer retention (Wezom). 80% of salespeople said they’ll use AI to maximise the value of their CRM platform over the next five years, while global AI in the CRM market is predicted to be worth $48.4 billion by 2033 (DigitalSilk).Takeaway: These statistics show how much value CRM systems can bring to your business, helping you to retain customers, boost sales and make your team more efficient. Moreover, focusing on customer experience and adding AI to the mix can help improve service ratings and drive repeat business, making it easier to maintain long-term customer relationships.CRM stats for marketing and salesImpact on conversions: the implementation of CRM systems can increase conversion rates by 300% (Finances Online).Impact on revenue: Revenue can increase by as much as 245% when businesses use a CRM platform (LLCBuddy). Statistics reported by Spotio also found that 94% of businesses saw improved sales productivity after implementing a CRM system.Marketing practices: 69% of marketers consider CRM to be somewhat or very important to the success of their overall marketing strategies (HubSpot).Takeaway: A good CRM system is essential for boosting conversions and increasing revenue, while also helping you better understand and target their customer base. It can make your marketing and sales efforts smoother, leading to more growth and success.CRM stats for data securityData breaches have become an unfortunate reality for small businesses and SMEs, with 50% of businesses and 32% of charities reporting some sort of cybersecurity breach in the last 12 months. Therefore, businesses must be aware of the potential risks associated with managing sensitive customer information, so the importance of choosing a secure CRM solution cannot be overstated.Data accuracy and organisation: while facing over 300 million fraudulent sign-in attempts daily, CRM systems are integrating add-ons and solutions to bolster security measures. 94% of businesses also reported a significant improvement in online security after switching to a cloud-based solution (Salesmate).Takeaway: With data breaches becoming more common, it’s crucial for businesses to prioritise security when choosing a CRM system. Many platforms are now enhancing their security features to protect sensitive data and switching to cloud-based solutions has been shown to improve online security. By investing in a secure CRM, you can better protect customer data and keep your operations safe from cyber threats. Secure CRM systems: our recommendations When choosing your CRM system, make sure to opt for one that prioritises data security and offers comprehensive encryption protocols and regular security updates.For this, we’d recommend Salesforce, Hubspot or Zendesk as they can help protect the confidentiality and integrity of your customer’s information. Trends and innovation in CRMAdoption trends: adoption trends for today’s SMEs include an increase of AI-driven and customer-centric marketing, personalisation, customer service chatbots and social CRM solutions to help monitor social media and offer timely support to customers (SyncMatters).Business adoption: adoption of CRM software has increased significantly, seeing a 12.6% year-on-year (YoY) growth (AsterSense). A report by Ascendix also revealed that 91% of businesses with 10 employees or more use CRM tools.Industry-specific CRM market share: according to HG Insights, the industries that spend the most on CRM software are finance & insurance ($13.5 billion), public administration ($6.3 billion) and professional, scientific and technical services ($5.6 billion).Popular sales tools: the sales tools businesses should use include CRM software, AI-powered tools and sales analytics tools (Salesforce).Takeaway: Businesses are increasingly turning to solutions like AI-powered tools, chatbots and social CRM to stay ahead. Adopting these tools and integrating new technologies can significantly improve customer engagement, streamline operations and boost sales. As more businesses adopt CRM systems, especially in key industries, staying competitive means leveraging these tools to enhance customer experience, improve decision-making and drive growth.Challenges of CRM systemsPoor quality data: Nearly one-third (approximately 33%) of sales leaders say that their customer data is incomplete, out of date or inaccurate. 85% of salespeople also admitted to making a mistake due to incorrect CRM data (Salesmate).Technical expertise: 32% of CRM users believe that a lack of technical expertise is a significant roadblock in adopting CRM software (Fit Small Business).Poor quality data: Invalid or incorrect data was reported to be the biggest challenge for nearly one-third of sales representatives, with 85% admitting to making a mistake due to incorrect CRM data (Salesmate).Manual data entry: 17% of businesses report manual data entry as their biggest CRM-related challenge (DemandSage), while 32% of sales representatives say they spend over an hour on manual data entry.Other challenges: additional challenges small businesses face in adopting CRM software include the cost of CRM (31%), data migration issues (30%), user adoption (27%) and the lack of app integrations (23%) (Fit Small Business).Takeaway: While CRM systems offer significant benefits, businesses still face common challenges. Poor data, time-consuming manual entry and not having enough tech knowledge can slow things down. On top of that, costs, data migration headaches, and onboarding employees can make things all the more difficult. However, these issues can be tackled by investing in training, prioritising data management strategies and choosing a CRM solution that’s easy to use, integrates well with other tools and helps automate repetitive tasks. CRM market overviewThe demand for CRM software in the UK has been on the rise in recent years. Moreover, the revenue in the CRM segment of the software market in the UK has been predicted to increase to £1.9 billion by 2028. Due to projections indicating a remarkable annual growth rate of 11.64%, the market is set to peak in the region of £57 billion globally.Analyst insights from Statista also reveal that a new surge of UK customers are actively seeking software that delivers a holistic view of customer interactions. They also want to be able to analyse data to improve customer experience and increase sales.Cloud-based CRM softwareAdditionally, there is a growing preference for cloud-based CRM software, which dominated the CRM industry in 2024 with a revenue share of 58.2% and is used by 87% of companies that utilise CRM solutions. This could be largely attributed to its flexibility, cost-effectiveness and ease of access. It also allows businesses to access customer data from anywhere with an internet connection, making it ideal for remote teams and businesses with multiple locations.AI and machine learningThe UK’s CRM software landscape is taking significant technological strides in the realms of AI and machine learning, with AI predicted to have integrated into over 70% of CRM systems in 2025. Through iterative learning from data inputs and user interactions, these technologies continuously refine their algorithms, ensuring that the CRM platform evolves in tandem with changing customer needs and market dynamics.Mobile CRM solutionsAt the same time, mobile CRM solutions are gaining ground, empowering sales teams with full access on the go. Statistics reported by DemandSage reveal that 81% of users access CRM software from multiple devices – 48% via mobile and 45% via tablets.Not only is this useful for quick and easy access, but 50% of teams reported improved productivity from using a mobile CRM, while 65% of businesses that use it are achieving their sales targets. Evidently, the CRM industry is set to experience a period of tremendous growth. That means now is the perfect time to integrate CRM into your small business. Compared to manual processes, you’ll be able to enjoy far more sustainable growth and return on investment (ROI), enhanced customer relationships and a competitive edge in your market. Key benefits of CRM for SMEsCRM is widely considered to be the fastest-growing software in the digital marketing world, according to Martech, and implementing these tools can offer a plethora of benefits for small and medium-sized enterprises (SMEs). These include:Enhanced operations: CRM systems streamline and centralise important business processes, as well as consolidate customer data, communications and sales pipelines in one accessible platform. Teams can use them to collaborate seamlessly, leading to smoother and faster workflows.Targeted marketing and sales: with CRM integrations that can provide detailed customer insights at their fingertips, SMEs can leverage CRM functionalities to tailor marketing campaigns and sales strategies. Targeted and personalised approaches based on customer preferences can result in higher conversion rates and increased sales, while also offering more time to optimise resource allocation for maximum impact.Improved customer service: CRM tools can help businesses deliver good customer service experiences. Access to comprehensive customer history enables swift issue resolution and proactive engagement. Prompt responses and personalised interactions also help build stronger customer relationships, in turn enhancing loyalty and retention rates.Cost-effectiveness: contrary to concerns about initial investments, CRM implementation often yields substantial cost savings. Automated workflows and data-driven decisions also mitigate operational inefficiencies while also reducing overhead costs.Better data-driven decisions: CRM tools equip SMEs with valuable data analytics and reporting capabilities. From inventory management to sales forecasting, insights provided by customer data will help to make informed decisions across projects and departments. CRM implementation best practicesBusinesses should consider CRM implementation as a strategic investment that, despite initial complexities, can deliver significant benefits over time. The most effective practices businesses should use include:Conducting thorough training programmes and providing ongoing support to enhance end-user adoption rates.Leveraging automation features within CRM systems to reduce the burden of manual data input will free up valuable time to focus on impactful, strategic activities.Implementing data quality management practices, ensuring regular data cleansing and updates.Integrating CRM with other business tools and data sources to enhance the completeness and accuracy of the information within the system.Embracing user-friendly CRM interfaces and platforms to mitigate complexity concerns, making it easier for teams to navigate and utilise the system effectively.ConclusionThese statistics illustrate the multifaceted impact of CRM systems on various aspects of business operations. With a modern CRM platform, you can transform your customer retention, enhance your marketing, navigate the challenges of customer data security, and build business resilience for future challenges. To find out more about CRM software, or understand the best options for a small business to choose from, we recommend taking a look at our pick of the best CRM systems for small businesses. Share this post facebook twitter linkedin Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
Refreshing alcohol alternatives to beat the dry January blues Waving bye to the booze this January? We list the top health-conscious brewer brands to know in 2024. Written by Helena Young Updated on 10 January 2024 Alcohol is out, sober living is in. That’s according to a new YouGov survey, which shows that 39% of 18-to-24 year olds now self-describe as fully alcohol-free.According to the survey, 44% of Gen Z now regularly or occasionally reach for the soft stuff over beers and wines; a 13% increase on last year, signalling a splash of change in the UK’s current and future drinking habits.For this group, abstaining from alcohol isn’t just a month-long challenge; it’s a growing lifestyle trend. The shift is fueling a boom in the alt-alc drinks market – and innovative startups are leading the charge.Let’s leave the hangover in 2023. Featuring brands from the Startups 100 Index – our annual ranking of the top new businesses in the UK – we’ll raise a glass (of water) to some rising stars in the alternative drinks space.1. The Health Option: Jubel Beer JUBEL founder, Jesse WilsonForget watered-down versions of the best-known beer labels. JUBEL has entered the alt-alc markter with a whole new drinks category. Combining fruity flavours like peach, elderflower, and grapefruit with the crisp finish of lager, JUBEL’s lighter, 4% ABV recipe is low-cal and keeps drinkers hydrated to beat the hangover.Inspired by après-ski, JUBEL has climbed high since launching in 2018. Having become the best-selling craft beer on tap in over 400 pubs, as well as the best-selling craft beer in Sainsbury’s within three years, it’s perfect for those wanting a lighter option on a heavy one.2. Beerless Buzz – IMPOSSIBREWIMPOSSIBREW founder, Mark WongPlenty of us could happily wave goodbye to the taste of alcohol. But giving up the social buzz and increased confidence is harder to imagine. So what if you could replicate those effects without the ethanol? That’s the promise behind IMPOSSIBREW, a non-alcoholic drink designed to offer a buzz-like experience minus the hangovers and health risks.Cleverly designed using blended natural plant ingredients like lavender and hops, the brand’s trademarked ‘Social Blend’ mimics the relaxing effects of alcohol. It’s also delicious, having won numerous taste awards and become the most followed beer brand on TikTok.3. The Ethical Choice – Drop Bear Beer Co.Drop Bear Beer co-founders, Joelle Drummond and Sara McNenaFeatured in the Startups 100 Index back in 2023, Drop Bear Beer Co is the world’s first all-female and LGBTQ+ founded alcohol-free brewery. From caramel-kissed lagers to citrusy Yuzu Pale Ales, their uniquely crafted range caters to every taste bud.2024 is already shaping up to be a stein-sized year for the brand. Having recently brewed its very first batch of beer in the Drop Bear Brewery in Swansea, Drummond and McNena also partnered with Planet Organic in January to bring their delicious brews to a wider audience.Dry January or forever dry?Older generations might view pressing pause on the prosecco as a seasonal trend. During ‘Dry January’, the campaign delivered by Alcohol Change UK, thousands of people sign up to abstain from alcohol for the first month of the year.But for Gen Z, this isn’t just a fad. The YouGov research suggests younger generations are increasingly adopting mindful alcohol consumption all-year round.As the health risks of alcohol – like addiction, liver damage, and worsened mental health – become common knowledge, younger people are more cautious about indulging.Alcohol alternatives allow consumers to enjoy social settings and familiar flavours without the downsides. Thanks to the increase in Alcohol Beer Duty, introduced last year, they are also often cheaper to make. Brewers can then pass these savings onto consumers.23% of young people surveyed by YouGov said that choosing low or no alcohol drinks lowered their overall intake of alcohol. As long as the market remains competitive, the popularity of alco-substitutes looks set to continue. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
Retail pop-up Sook calls time amid tough trading The Startups 100-listed flexible retail space provider had been riding high following initial investment, but Sook's founder has announced closure after failure to scale funding Written by Helena Young Updated on 10 January 2024 In a sign of just how tough the UK funding environment is becoming, the modular retail space innovator Sook has gone from one of the UK’s startups to watch, to shuttering its business, nearly overnight.Posting on LinkedIn last week, Sook founder John Hoyle announced with regret that the business would no longer be trading.“In spite of the extraordinary efforts of our team, growing sales and achieving international scale we were unable to raise sufficient investment to continue in the current environment,” Hoyle stated.We’d picked Sook out as a brand to watch for 2024, following its successful application to the Startups 100, and its inclusion in our previous Startups 100 list for 2023. Yet the sudden collapse of Sook’s business shows just how much the high street is in dire trouble. The vicious combo of an economic downturn, rising rent, painful business energy costs, and challenging business rates have meant many new businesses don’t dare dream of a bricks and mortar outlet.Meanwhile, an unfathomable number of big UK brands have gone into administration amid the crises, leaving high streets hollowed out across the land. While Sook’s business model looked like a welcome tonic for this tough environment, sadly the business has come to join the very trend it was looking to turn around.Sook’s modular approach not built to last?The Sook model sought to quietly redefine retail space in a post-pandemic world.The business provided modular fit-outs for popup store spaces and events. Commercial landlords with an unoccupied space could turn to Sook, which, in turn, helped businesses launch pop-up events and in-store experiences with a seamless setup and flexible lease length.“The relationship between commercial landlords and occupiers is a broken one due to the misalignment of expectations,” Hoyle told us last year. “Landlords are struggling with high vacancies, but offering traditional terms, while occupiers demand flexibility.”Among Sook’s pop-up space alumni are Depop’s number one global seller, Danielle Mass, founder of Remass. Danielle used a Sook store fit-out to connect in person with over 3,000 consumers.By the end of last year, Sook was offering retail units in London, Birmingham, Liverpool, and other UK destinations. In October 2023, the business launched a space in the Mall of Africa, South Africa, with a franchise agreement set up for further expansion potential.Sadly, all these expansion plans now look set to finish. At the time of writing, the Sook website was still live and with the appearance of being open to new business, but Hoyle’s LinkedIn message suggests this won’t be the case for long.Hitting the rocks of fundingSook’s early funding journey took the business from initial seed investment, to crowdfunding, to angel investment, including from Tobin Capital.However, to achieve its growth ambitions, the company had earmarked further investment requirements, which failed to materialise as 2024 began.Access to sufficient capital continues to be one of the greatest challenges for the UK startups scene, and it’s a critical issue for businesses seeking to scale up and realise their growth ambitions.Hoyle remains proud of the Sook journey to date, and in his LinkedIn post, emphasises the strengths and capabilities of the Sook team.“I’m so proud of all that we achieved and incredibly sad that we cannot continue. Please support our team members as they search for new roles.“They have first hand experience of disrupting the retail and real estate sectors during incredibly challenging times. Thank you to everyone who supported us over the last five years.” Share this post facebook twitter linkedin Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
AI startup crowned UK’s best new business in Startups 100 The 2024 ranking of the UK's most disruptive new businesses names its first ever AI winner with Unitary, a tech firm that detects harmful content online at massive scale. Written by Helena Young Updated on 10 January 2024 Startups.co.uk has kicked off the New Year with the reveal of its 2024 Startups 100 Index. This year Unitary, an artificial intelligence (AI) business that conducts content moderation at extraordinary scale, takes the coveted top spot.The win is a historic moment for the index, now in its 16th year, which celebrates the UK’s most disruptive businesses founded in the past five years. Unitary’s triumph marks AI’s arrival at the forefront of impactful innovation, underscoring its ability to confront modern challenges like online misinformation, hate speech, and abuse.But, Unitary is just the first glimpse of the groundbreaking ideas bubbling within the Startups 100. The full list exhibits bold inventions aimed at tackling today’s pressing global issues, from workplace change to climate action.Richard Parris, Editor of Startups.co.uk, comments: “The ingenuity and innovation of the brands featuring in our annual Startups 100 index never ceases to amaze, and this year is no exception. Our highest ranking business, Unitary, is truly a brand of the future, and we’re excited to crown it as our top UK startup for 2024.”Top five UK startups for 2024Startups.co.uk has compiled its annual list of the 100 fastest-growth UK startups for 2024, based on factors such as market potential and secured funding. Here is a glimpse of the top five:Unitary – AI safeguarding tool filtering out harmful content that’s unfit for human eyesLottie – Care home marketplace making it easy to find specialist care for loved onesMaeving – Britain’s first EV motorcycle that can recharge as easily as a smartphoneKatKin – Premium cat food company making the world’s first diagnostic kitty litterPeppy – Digital platform supporting staff with under-resourced health challengesFor more, see the full 2024 Startups 100 Startups also awards seven special categories each year to recognise startups demonstrating exceptional innovation alongside social responsibility.The judging panel for 2024 included distinguished figures in the entrepreneurial landscape: Finn Lagun, Karen Lynch, Danielle Bowman, Eloise Skinner, Ian Wallis, and Chris Forbes.Click to read more about the nominees and winners:Startups 100 Sustainability Award 2024Startups 100 Exceptional Founder Award 2024Startups 100 Just Started Award 2024Startups 100 DEI Award 2024Startups 100 Social Impact Award 2024Startups 100 Young Entrepreneur Award 2024Startups 100 Marketing Award 2024“Shared mood of opportunity”Buoyed by a lower inflation rate and technological advancements like AI, this year’s Startups 100 are preparing for a prosperous 2024.To complement the release of this year’s index, Startups.co.uk also carried out a survey of 546 UK small businesses. We found that 92% of respondents feel optimistic about their growth prospects for 2024, with 59% reporting high levels of optimism.Testifying to the resilience and ingenuity of UK startups, newer businesses feel the most positive about the future. 74% of those founded in the past year are optimistic about 2024, versus just 47% of companies that launched in 2019.Parris concludes: “Despite the crises of the past couple of years, we’ve seen some incredible businesses from every corner of the UK in our rankings. There’s a shared mood of opportunity and an optimism for the year ahead that’s invigorating to see as we begin 2024.”[/vc_column_text] Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Social Impact shortlist and award winner Meet the five leading startups that are putting their money where their heart is to make a positive social change in 2024. Written by Helena Young Updated on 10 January 2024 The tides of business are changing. More than ever before, we’re seeing businesses being driven by mission statements and corporate beliefs than by profit goals.Not that pursuing social impact is all about philanthropy. Becoming a purpose-led company also opens up avenues for brand growth and development, as more people seek out companies to buy from or work for that align with their values.That’s where our Social Impact award comes in. The trophy celebrates the top businesses in this year’s Startups 100 using innovative ideas to tackle the pressing challenges of modern society – doing good by their communities, and their stakeholders.Alongside expert guest judge, Karen Lynch, we’ve shortlisted five startups showcasing a clear commitment to positivity through their business model. Read on to find out more about these do-gooders, as well as who took the Social Impact crown for 2024.[/vc_column_text] Introducing Startups 100 guest judge, Karen Lynch MBE Karen’s personal mission is to inspire others that there is ‘a better and kinder way to do business’. Under her leadership as CEO of Belu Water, she helped transform the lives of over 334,000 people through the company’s partnership with WaterAid. She is currently the founder of Expert Impact Speakers, CEO of Expert Impact Mentoring, and Vice Chair of Social Enterprise UK. WINNER – Serious Tissues 2024 Startups 100 | Winner of the Social Impact award In recognition of the startup which is putting purpose ahead of profit, with evidence of a commitment to making the world a better place with its business model. Learn more about Serious Tissues Tired of toilet roll’s boring reputation? Serious Tissues is shaking things up with paper that’s not just eco-friendly but also socially conscious. Alongside selling 100% recycled, UK-made, plastic-free, and carbon neutral, the brand’s impressive social impact credentials stem from its tree planting policy, where a tree is planted for every roll sold.So far, Serious Tissues has planted over 1.7 million trees, helping to regenerate forests and combat climate change. And that’s not all – their tree-planting program has also created over 180,000 days of employment in some of the world’s poorest communities across Europe, Asia, Africa, Central and South America.But Serious Tissues isn’t just making a difference for the planet and the communities it works with; it’s also making a splash in the business world. Having already earned a spot on Ocado’s coveted shelves, the brand recently partnered with Bunzi for nationwide distribution and a guaranteed annual revenue, signalling that (unlike its plastic-free product) it will be around for a long time.What did Karen Lynch have to say?“This is a heart-warming story of some smart thinking and fast moving in COVID times,” Lynch praises. “Serious Tissues is a business model that has not messed around with diving in to disrupt an already competitive market with the best credentials on all fronts – price, quality, and impact.”SHORTLISTED – HACEHACE offers a child labour index powered by AI, empowering investors to dilligently monitor supply chains for meaningful change. Founder Eleanor Harry started the company after working for a decade across supply chains including cotton, fishing and ready-made garments. She quickly realised that companies have little visibility into their global supply chains, creating blind spots for risk of child labour.In answer, Harry came up with HACE. The specialised ESG rating scores companies and portfolios across three performance indicators, giving organisations and investors a way to monitor their supply chains for child labour in real-time.Harry estimates that to achieve the UN’s SDG 8.7 (ending all child labour by 2025), three children in child labour must be remediated per second. To reach that goal, HACE wants to become the global leader in child labour data and information by 2025 and, with it, early proof that AI could help solve some of the world’s most challenging problems.What did Karen Lynch have to say?“HACE is a brilliant example of putting our most current technology at the front and centre of solving deeply embedded and hard to see and solve social issues,” congratulates Lynch. “This is a business that our big retailers and brand manufactures absolutely should be investing in to unravel efficiently the complex issue of child labour.”SHORTLISTED – Fair ShotFair Shot, led by the inspiring Bianca Tavella, is brewing a revolution in the hospitality industry. Via its flagship coffee shop in Mayfair (and with plans to open three more) Fair Shot has helped over 36 individuals with learning disabilities and autism spectrum disorder (ASD) develop the skills to land their first full-time jobs. These graduates now shine bright in the kitchens and service areas of brands like Apple, Goldman Sachs, and Soho House.Fair Shot’s commitment to sustainable employment doesn’t stop there. It works closely with its employment partners, ensuring that both are fully supported throughout the onboarding process. This empathetic approach has resulted in a staggering 80% of Fair Shot’s partners actively seeking to hire neurodivergent individuals.Having officially become a social enterprise in December 2023, Fair Shot is determined to spread its message of inclusion far and wide, to create a world where everyone gets the fair shot they deserve.What did Karen Lynch have to say?“Fair Shot has dived straight into the challenging hospitality sector with purpose right at its heart, and early statistics show it’s working for both customers and their neurodiverse them,” highlights Lynch.“I love the site in Covent Garden and truly hope we see a network of hundreds of Fair Shot outlets across the country soon.”SHORTLISTED – Fink Street FoodFink Street Food is on a mission to smash mental health stigma and improve young people’s mental health – one bite at a time. Inspired by their own experiences with friends and family members battling depression, co-founders James Reid and Lewis Greenwood set out to make mental health support more accessible to young people.Using revenue from ‘The Fink Tank’, the startup’s pioneering social enterprise food truck, Reid and Greenwood have come up with a clever business model that takes the profits generated by corporate and social catering events to fund mental health counselling sessions for those in need.As a member of Social Enterprise UK, Fink Street commits over 50% of profits to this goal. The firm has also established a pivotal partnership with No 5 Young People, a Reading-based children’s mental health charity which provides free counselling, support, and therapy services to young people in need.What did Karen Lynch have to say?“Fink Street must be applauded for the sheer amount of hard work that goes into trading and impacting simultaneously in the sector,” praises Lynch.SHORTLISTED – LeihoLeiho’s mission is simple: to spread warmth and positivity, not just on your feet but in the world around you. Co-founders Joey Li and Thuta Khin met while studying for masters degrees at City, University of London, where they learned that clean socks were the most requested items for clothing at homeless shelters.Founded from a belief that everyone should have access to basic needs of comfort, safety, hygiene and health, they launched Leiho, a social enterprise which sells smiley bamboo socks to support 40 homeless organisations. Every month, the brand partners with a charity that’s making a difference in underserved communities, and uses 5% of its monthly revenue to support the chosen cause.So far, the company has donated 12,873 essential items, funded community programs, and hosted six cooking classes with SPEAR to help upskill people living in sheltered accommodation.What did Karen Lynch have to say?“Congratulations to these young founders for putting their best foot forward and making change through socks,” applauds Lynch. “Clearly they are focused on having a positive impact in every aspect of their business model.”How important is it for new businesses to have a positive social impact?Gone are the days when business success meant bottomless pots of funding. As our shortlist showcases, the new leaders are those with a conscience; entrepreneurs who are actively pursuing growth opportunities that have a positive social impact.“I firmly believe that business has a responsibility to do far more than find an idea or a need and make money,” stresses Lynch. “Business needs to embrace, own and solve the problems of the world too.”As Lynch highlights, in this newer, kinder market, it is the businesses that are not considering social impact that are at a disadvantage. If you’re not moving forward, you’re standing still, and ripe to be overtaken – which is why legacy brands face the biggest threat.“For those already established? Watch out for these startups as they are coming to get you,” Lynch warns. “The world needs and wants more responsible, more impactful business models as their future.” Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Exceptional founder shortlist and award winner These entrepreneurs have used their personal struggle as fuel to drive positive change. Meet our Exceptional Founder shortlist for 2024. Written by Helena Young Updated on 10 January 2024 From drawing up your idea on the back of a napkin, to celebrating the 1,000th sale, it’s important to recognise the human effort that goes into every startup success story. After all, behind every business making headlines is the person who first dreamt it into fruition.We’ve chosen to spotlight the extraordinary entrepreneur talents from this year’s Startups 100 Index with our Exceptional Founder award, in celebration of those go-getters who have turned their own personal triumphs into a win for the wider business world.Our returning guest judge, Ian Wallis, Head of Startups at FieldHouse Associates, helped us to decide on the overall winner. Read on to find out more about the incredible journeys of our five nominees, and who Wallis crowned as his exceptional founder for 2024.[/vc_column_text] Introducing Startups 100 guest judge, Ian Wallis! Currently Head of Startups at FieldHouse Associates, Wallis is a former business journalist and co-founder of Ventures Club, an entrepreneurs’ network. He has spent more than 20 years writing about business owners for various outlets including Startups.co.uk, where he helped launch the original Startups 100 in 2008! WINNER – Chris Donnelly and Will Donnelly (Lottie) 2024 Startups 100 | Winner of the Exceptional Founder award In recognition of the entrepreneur who has turned their own personal struggles or challenges into a force-for-good, leading the way for industry change and innovation. Learn more about Lottie Sometimes referred to as the RightMove for care homes, Lottie is the UK’s first directory to showcase a vetted supply of care homes. It aims to make it easier for families to place their loved ones in a trusted home, for the fairest price.Sparked by the struggles to find suitable care for their own family members, founders Chris and Will wanted to challenge the industry’s stubborn status quo. Heavily impacted by the pandemic, they saw firsthand the impact that a solution like Lottie could have on care seekers, and so set about combining Chris’ expertise in technology and Will’s experience in the social care sector, to transform elderly care.Having previously ranked 8th in last year’s Startups 100, Lottie’s remarkable growth in the past year – including raising an additional £25m in investment – demonstrates how its disruptive model is serving to address the UK’s social care crisis.What did Ian Wallis have to say?Wallis expresses his excitement at how Chris and Will are bringing greater transparency to UK care seekers. “I’m not surprised people are eager to use Lottie”, he exclaims. “Finding a care home is often fraught with worry and financially challenging beforehand and concerning later around levels of care provided. It’s been a known problem long before COVID, but Lottie appears to be solving it.”SHORTLISTED – Mark Wong (IMPOSSIBREW)IMPOSSIBREW is a challenger no-low drinks brand that offers drinkers the boozy experience sans the hangover. When founder Mark Wong was a student, he was told that because of health complications he had to quit drinking. Rather than resort to a sad Sprite during nights out or skipping them altogether, he got to work shaking up the alcohol-free beer market with a product he’d be happy to drink alongside any friend with a pint in hand. Launching the brand from Wong’s Durham University bedroom, IMPOSSIBREW was born.Made with a proprietary blend of plant ingredients, it’s cleverly designed to mimic the relaxing effects of alcohol without any of the negative health consequences – including hangovers. Despite not securing any funding on his appearance in Dragons’ Den, IMPOSSIBREW is the most followed beer brand on TikTok. It has also collected a number of impressive accolades, including the GB Food and Drink Startup of the Year 2023.What did Ian Wallis have to say?“With younger generations drinking less and greater health awareness, it sounds like IMPOSSIBREW will be helping to solve some anti-social and long-term health issues. Its popularity on TikTok means it might have a greater impact than most,” Wallis says.SHORTLISTED – Vicky Wilson (Settld)Settld helps bereaved families to deal with the bureaucracy of death, cutting days or hours of process into minutes. Co-founder Vicky Wilson was inspired to launch the startup after her grandmother passed away in 2019. She found herself spending hours contacting the banks, pension providers, insurers, and utilities to close and transfer her grandmother’s accounts.In less than two months, over 93,000 people signed her petition asking service providers to make it easier to close the accounts of a loved one who dies. Striving to help others avoid the same traumatic experience she’d been through, Wilson quit her job at Amazon to launch Settld. Since then, she has grown the platform to integrate 950 providers including social media accounts, email providers, and broadband.What did Ian Wallis have to say?“At perhaps the most emotional time for many, dealing with a loved one’s accounts only adds to the pain, so Settld appears an elegant solution and Vicky had a compelling reason to start,” Wallis appraises. “The fact that it is free for bereaved people puts the user first. I hope the model is able to scale through additional services that reflect the same levels of compassion.”SHORTLISTED – Ariana Alexander-Sefre (SPOKE World)Image credit: www.benpetercatchpole.comFocusing on a demographic that might feel left behind by the mindfulness trend, SPOKE makes looking after your mind as easy as listening to your favourite music. Co-founder Alexander-Sefre started the company after her younger brother’s best friend took his life in 2017. She saw early-stage preventative mental wellness tools that didn’t feel culturally relevant or accessible to her brother and his friends – young men who needed mental health support but lacked a relatable platform for finding it.Through its listening app, SPOKE is targeting young people – especially Gen Z men and those from more diverse backgrounds – who need a place of respite and relaxation. Her entrepreneurial journey has earned her the East London Innovator award in 2020. With over 500 five-star reviews on its app store listings, it’s clear that Alexander-Sefre’s idea is striking a chord with a demographic who might dangerously feel left out of the wider movements towards wellness and mindfulness.What did Ian Wallis have to say?“Ariana is deeply inspiring and SPOKE is undoubtedly targeting something that has needed to be addressed,” Wallis commends. “SPOKE is one of the smaller finalists here but with a powerful intention of saving lives – which none of the others can claim.”SHORTLISTED – Tim Chong, Theso Jivajirajah, and Harry Jell (Yonder)Yonder is a credit card with a difference – it’s specifically designed for young professionals who may not have a UK credit score, but are tech-savvy, love to explore, and expect the highest level of service. Yonder was inspired by Chong, Jivajirajahand Jell’s own struggles accessing credit when they first emigrated to the UK. But they turned that challenge into opportunity.Chong and Jivajirajah had worked in the credit sector in Australia and other countries, as well as at Clearscore with co-founder Jell. After embarking on a mission to build a credit card for a demographic underserved by other providers, the founders have established extensive relationships with its Experience partners, including Le Bab, Lina Stores and BAO.What did Ian Wallis have to say?“Financial inclusion – or in Yonder’s case exclusion – takes many forms. Despite hearing anecdotally of credit score issues for people moving to the UK, the scale of the problem surprised me. As a force for good in terms of credit scores – and enjoyment – Yonder is unique,” outlines Wallis.What can startup founders learn from this year’s shortlist?We’ve highlighted founders that are making waves in the startups industry, by transforming their own personal struggle into a business that multiplies growth and positive social impact. So what learnings can aspiring entrepreneurs derive from this year’s shortlist?According to Wallis, budding business owners should feel optimism, not intimidation, at the sight of our nominees. “The Exceptional Founder finalists demonstrate that the well of ingenuity is not in danger of running dry any time soon,” he notes.“I may once have believed that a point would arrive where it would be pointless for others attempting to improve on what exists – and while it may be more challenging, there are clearly always untapped niches and opportunities.”However, Wallis does caution that an exceptional founder cannot pull all the weight alone and relies on having an exceptional team around them. The challenge? Spotting the right people.“We’ve seen companies initially feted for their team growth and meteoric valuations, only to see allegations of toxic workplace cultures,” notes Wallis. “I think the fundamentals of treating people well, matching their purpose, and creating positive experiences alongside them, will carry long-term value.”Despite the challenges startups faced this year, it’s encouraging to see that the lightning strike of entrepreneurial genius can hit more than once – five times, in fact. Congratulations to our Chris, Will, and all of our Exceptional Founder nominees! Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Diversity, Equity, and Inclusion (DEI) shortlist and award winner Being a DEI role model is all about putting people ahead of profit. Meet the winner of the 2024 Startups 100 DEI award - and learn more about our shortlist. Written by Helena Young Updated on 10 January 2024 Defining Diversity, Equity, and Inclusion (DEI) within an organisation is a bit like trying to make sense of an optical illusion. What it looks like differs depending on the unique make-up of your workforce, and the perspective you bring as leader.While we might talk about the UK ‘workforce’ as a collective, we cannot forget that this 30-million-strong group presents a kaleidoscope of backgrounds and experiences, requiring constant adaptation and flexibility. That’s why agile and enterprising startups are leading the charge to embrace emerging DEI frontiers like neurodiversity.We’re highlighting those who are doing it best with our specialist DEI award, granted as part of this year’s Startups 100 index. In collaboration with our expert guest judge Danielle Bowman, the team carefully evaluated the DEI policies of each featured business.Our top five shortlisted companies are setting the standard for DEI excellence, ensuring every individual they employ and encounter feels valued, respected, and empowered. Find out more about these pioneering startups, and what they mean for the future of people management.[/vc_column_text] Introducing Startups 100 guest judge, Danielle Bowman! Danielle is cofounder at Found By Few, a specialist recruitment agency founded on the belief that recruiters should promote diverse hiring strategies and inclusive company cultures. She also runs a careers podcast called ‘How To Get My Job’, where leaders are quizzed on how their careers started, evolved, and what advice they have for those coming after them. WINNER – WeWALK 2024 Startups 100 | Winner of the DEI award For the business that demonstrates a committed diversity, equity, and inclusion initiative and how it has been embedded in the company. Learn more about WeWALK Juggling a cane, smartphone, and suitcase at the airport, WeWALK co-founder Kursat Ceylan – who was born blind – tripped and fell over a pole. He realised that technology had advanced so much, yet the traditional white cane for the visually impaired was unchanged.That epiphany sparked the birth of WEWALK. Its product, launched in 2019, is a tech-enabled cane that pairs with a smartphone app to make navigation easier, safer, and more accessible for the visually impaired.WEWALK’s smart cane goes beyond the limitations of a traditional white cane, detecting above-ground obstacles that a typical cane misses. It provides voice navigation prompts, keeps users updated on bus and train timings, and even has an exploration mode that announces nearby points of interest like restaurants.Named Amazon’s Startup of the Year and a TIME Best Invention, WeWALK exemplifies the Tech for Good ethos. Putting the ‘E’ in DEI, it has also launched a fundraising campaign to provide canes to those who cannot afford advanced hardware.What did Danielle Bowman have to say? “WeWALK’s mission to develop technologies for the full and equal participation of more than 250 million visually impaired people worldwide in social life is incredible,” Bowman enthuses.“It has not only shown a commitment to DEI in its product but also in building a team and company that is inclusive of both sighted and blind members, and impressive testimonials showing a clear impact on people’s quality of life. An admirable mission.”SHORTLISTED – FrobellesFrobelles all began with a simple question from a six-year-old Alyssa, who couldn’t find a single game character with Afro hair like hers. Sparked by this realisation, she and her Mum set out to create a gaming experience that celebrated the beauty and diversity of Afro hair.Frobelles is a celebration of Afro hair and a platform for kids to express their unique identities. Coco, Kelli, and Krista, the game’s virtual fashionistas, sport stunning Afro hairstyles that can be styled in a variety of ways, from puffy twists to intricate braids.But at 100,000 downloads, Frobelles isn’t just a game; it’s a thriving community where empowerment and sisterhood reign. Now 11 years old, Alyssa (who we also nominated for our Young Entrepreneur award) and her Mum are inspiring kids worldwide.Bowman picks out Alyssa’s involvement as key to the brand’s DEI aspirations. “Frobelle’s is a great mission in trying to tackle the lack of inclusion in the gaming industry when it comes to Black female representation. In having Alyssa involved, they can create authentic content that is valuable to their target audience,” she assesses.SHORTLISTED – Postpartum Plan Ltd.Balancing both parenthood and a demanding career can feel like a high-wire act without a net. In fact, 75% of parents report feeling overwhelmed and stressed when returning to work after childbirth. That’s where Postpartum Plan comes in.Offering a virtual village of support for new parents, Postpartum Plan is the first of its kind to extend its services and resources to all, regardless of birthing status. Whether you’re a birthing parent, non-birthing parent, or embarking on the journey of adoption or surrogacy, the startup ensures that everyone’s needs are met.Unlike other employee benefits that often focus on equality, Postpartum Plan prioritises equity. It provides five pillars of postpartum support, tailoring the experience to each parent’s unique needs, not the dictates of society.Bowman evaluates Postpartum Plan as a “really great mission with clear objectives to tackle a problem that many do not talk about or that often gets forgotten.” She applauds the brand for its measures to remain inclusive for all parents.SHORTLISTED – PropelleIn the UK, women retire with 40% less than their male counterparts. That’s not just a statistic; it’s a reality that’s holding women back from financial independence. Enter Propelle, a mission-driven fintech startup determined to close the gender wealth gap.Founder Ayesha Ofori, a former Goldman Sachs banker, left the corporate world behind, feeling unfulfilled by the pursuit of wealth for the already wealthy. She knew there was a better way to use her expertise, one that could make a real difference in the lives of women.Born out of this conviction, Propelle is revolutionising the investment landscape, breaking down barriers that have traditionally kept women from gaining full financial control. In one year, it has developed a thriving beta platform with 6,000+ sign ups, helping women employees take charge of their finances at major organisations like Google and GiffGaff.Bowman commends Propelle’s “admirable mission in helping to close the gender pay and wealth gap.” She especially praises the firm’s supporting DEI materials, such as its company principles, for demonstrating “that the product is effective and aligns with their DEI values.”SHORTLISTED – UNDO CarbonGreen giant UNDO Carbon uses revolutionary enhanced rock weathering technology to dramatically accelerate the process of carbon capture. But UNDO is not just about saving the planet. It is also about empowering people.Recruitment is a key area of focus for UNDO’s DEI efforts. It employs an internal tool to track hiring and train managers on unconscious biases, and also works with recruiters who specialise in finding diverse candidates – one reason it now has 40% women in leadership positions against a tech average of 28%.Working in communities across the mining and farming industries, UNDO puts relationships first. Local farmers often operate on thin margins, so UNDO provides them with free, nutrient-rich silicate rock to spread on the land. It also hires locally, and is committed to giving rural farming communities a say in how its projects are designed and implemented.“The mission is great in trying to reduce CO2 and make our planet habitable,” Bowman praises. “Commitment to helping the local communities they work with suggests UNDO is trying to create a more equitable future for workers. Its gender diversity is also impressive.”SHORTLISTED – Zero GravityGrowing up in West Yorkshire in a single-parent family, Joe Seddon experienced firsthand the challenges faced by individuals from low-opportunity backgrounds. Inspired, he set out to start Zero Gravity, a tech startup that’s rewriting the rules of social mobility.Zero Gravity is a launchpad for top-performing students in disadvantaged areas, providing mentoring, masterclasses, and scholarships to propel them into top universities and careers. Via strategic partnerships with corporations like HSBC, it has harnessed technology to pair students with graduate mentors, skyrocketing their chances of securing work placements.Having already partnered with over 500 state schools, Zero Gravity captures a significant 20% market share. In just three years, it is already leading the movement to prove that with the right support, anyone can achieve greatness.“Zero Gravity is tackling a systemic problem that needs addressing,” Bowman assesses. “It’s a brilliant mission that affects a wide group of people from all walks of life.” Her conclusion? “Zero Gravity is a business with a far-reaching impact and data to back it up.”What does the future of DEI look like in 2024?2023 has been a difficult year for businesses. Crisis has piled onto crisis, as energy challenges triggered inflation which pushed up the cost of living to untenable rates for consumers and business owners alike.This situation is forcing businesses to make tough decisions, and some are deprioritising DEI initiatives as a result – threatening to undo years of progress. According to Monster’s January 2023 future of work report, 11% of employers surveyed said that DEI programs “are among the first to go when they are forced to cut costs.”This shortsighted approach is akin to shooting oneself in the foot. As businesses gear up for growth and recovery in 2024, backing out of DEI commitments is a surefire way to hinder success and hamper a company’s ability to attract top talent, an essential ingredient for scaling up.When companies make a genuine effort to create a diverse and inclusive recruitment process, they send a powerful message that they are open to talent from all backgrounds. Doing it right also doesn’t require a big cheque. As Bowman explains, all businesses need is a smart approach from HR managers.“Make sure your commitment to DEI and corporate values are clear and visible across all touchpoints of the business,” Bowman advises. “Whether it’s the product, social media, website, job adverts.”DEI also has a profound impact on existing employees. When individuals feel valued and respected for their unique perspectives and contributions, they are more engaged, productive, and less likely to leave the company. This translates into lower turnover rates and higher retention of skilled labour.As we enter 2024, it is imperative for businesses to find ways to embed DEI into their core strategies. This will not only help them weather the storm but also emerge stronger and more resilient.“Diversity, Equity, and Inclusion are more important than ever,” Bowman stresses. “Not just for customer buy-in but for hiring and retaining staff. You can’t grow without either.” Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Young Entrepreneur shortlist and award winner Youth is wasted on the young - but not on our Young Entrepreneur nominees. Meet the next generation of business leaders for 2024. Written by Helena Young Updated on 10 January 2024 Few groups came under more criticism last year than Gen Z. Stereotyped as hard to work with and unambitious, young people have become the victims of a similar smear campaign to Millennials before them – minus the avocado toast.The statistics tell another story, however. Gen Z is more likely to be self-employed than previous generations. Meanwhile, a surge in the number of student-led startups is creating hundreds of jobs.Against this backdrop, Gen Zers are dispellling the myth that Mother knows best. Smartphone in hand, they are entering the workforce with a bang, ready to challenge what it means to work in and run a business.Our Young Entrepreneur award is your front-row seat to the UK’s most inspiring young business minds. Each year, we recognise the top founders under 25 who made our Startups 100 Index, and celebrate their unwavering determination to make a difference.With Eloise Skinner, Startups 100 guest judge and a successful young entrepreneur in her own right, we’ve picked out the top baby-faced founders who are poised for greatness in the years to come. Get ready to feel amazed, empowered, and – perhaps – a little bit jealous.[/vc_column_text] Introducing Startups 100 guest judge, Eloise Skinner! As a young entrepreneur success story herself, Skinner is already a published author, teacher, and therapist. Plus, she’s founded two successful businesses: consultancy firm, The Purpose Workshop, and education resource platform, One Typical Day. WINNER – Brent Oldfield (Voltric Mobility Technologies) 2024 Startups 100 | Winner of the Young Entrepreneur award In recognition of the brilliant young innovator aged 25 and under who are here to solve the next generation’s challenges with their inspiring business idea. Learn more about Voltric Brent Oldfield has been hustling since his university days. Growing up in Guernsey, he was unable to access student loans, and so took matters into his own hands, setting up his first business upcycling lamps to fund his studies. His choice of degree, Team Entrepreneurship (TE), proved to be a strategic move, providing him with the tools to navigate the world of business while juggling his academic pursuits.In 2019, Oldfield’s entrepreneurial prowess reached new heights when he co-founded Voltric while still at university. Voltric’s all-inclusive monthly or yearly subscriptions take the hassle out of EV ownership, making the switch to electric as smooth as a ride in a Tesla.Despite the demands of full-time study, Oldfield’s achievements have not gone unnoticed. He was named a finalist for the UWE Entrepreneur of the Year Award in 2020 and recognised as one of the top 11 UK student founders in 2020 by Beauhurst.Oldfield is still involved as a mentor for current TE students and Voltric has successfully raised nearly £500,000. He sees Voltric as a catalyst for change, shaping the future of mobility and transport to make the UK a greener place for generations to come.What did Eloise Skinner have to say? “Along with the impressive amount of funding and investor interest, I loved hearing about the founder’s passion for giving back to the student entrepreneurial community,” says Skinner. “Brent is clearly passionate about supporting others.”SHORTLISTED – Alyssa Ottley-Awuah (Frobelles)When most kids were busy with cartoons and colouring books, Alyssa Ottley-Awuah was already flexing her entrepreneurial muscles. At the age of six, she noticed a glaring gap in the world of dolls and dress-up – a lack of characters that reflected the beauty of afro hair.Unwilling to settle for subpar representation, Alyssa teamed up with her cofounder and Mum, Yvonne, to create Frobelles, the UK’s first Afro hair dress-up game. This wasn’t just a casual after-school project; Alyssa poured her heart and soul into the game, spending hours designing characters, hairstyles, textures, and clothes. She even lent her voice to every character, instruction, and expression, and had the brilliant idea to add an educational section to the game, providing valuable information on Afro hair care and maintenance.With Yvonne’s guidance and their shared vision, Alyssa (now aged 11) is leaving an indelible mark on the gaming world, proving age is just a number when it comes to making a difference. Skinner expresses admiration for Alyssa’s motivation to break down barriers. “Frobelles is such an important and meaningful business,” she commends.SHORTLISTED – Abisola Bright (PolishPad)While studying at Essex University, Abisola Bright decided to nail nail artistry. But instead of doing manis and pedis, she found herself drowning in a sea of messages trying to manage her busy schedule. This experience laid the base coat idea for PolishPad, an all-in-one management tool for nail technicians.In 2019, Bright pitched her venture at the Essex Startups Summer Bootcamp, where her infectious passion and well-crafted pitch earned her a £200 investment (funded by Santander Universities) – the first step on her entrepreneurial journey.Since then, Bright has secured investments from corporations like SKY & BEO, joined the prestigious Microsoft for Startups program, and even graced the stage as a panellist at Enterprise Nation’s Next Gen Fest to share her wisdom with aspiring young entrepreneurs.Skinner praises PolishPad for its goal of polishing up the nail sector by addressing a challenge faced by underserved nail technicians and sole traders. “I love the community aspect – PolishPad has a really clear and effective product market fit,” she enthuses.Is 2024 the year of the young entrepreneur?Move over Warren Buffett. In today’s technology-led world, it’s obvious that age is no longer a barrier to success. From Alexandr Wang, who founded Scale AI aged 25, to Frobelle’s 11-year-old tech-whizz, Alyssa Ottley-Awuah, the startup landscape is teeming with young and student entrepreneurs who are rewriting the business rulebook.Just in time, too. In 2024, we face a unique confluence of challenges that demand fresh perspectives and bold solutions.AI is taking us into uncharted territories, creating new markets and transforming industries. Societal shifts, like the evolving nature of work, are introducing opportunities for young people to disrupt traditional models. Meanwhile, the fight against climate change must rapidly accelerate in order to safeguard our planet for future generations.Together, our shortlisted founders demonstrate the boundless potential of youth to shape the world we live in. Each motivated by a social mission – whether sustainability, diversity, or community – their stories serve as a call to arms for other aspiring entrepreneurs.“The diversity of ages and backgrounds in this year’s shortlist shows that entrepreneurship is thriving amongst young people – and the future is certainly bright for those who want to build businesses,” Skinner tells Startups.“Ultimately, these finalists show that there’s no ‘right’ or ‘wrong’ age to dive into entrepreneurship. If you have an idea, a passion, and a strong sense of determination, these finalists show that you can bring your vision into reality.”This year’s Young Entrepreneur nominees signal that the entrepreneurial landscape is poised for change. For the UK’s bright young things, it’s time to seize the reins. Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Marketing shortlist and award winner Check out the top UK startups that are using clever ways to catch the gaze of customers and supercharge brand exposure. Written by Helena Young Updated on 10 January 2024 Whether it’s on our social media feeds, or on the high street, the huge number of marketing campaigns that consumers are constantly being exposed to can be overwhelming. It can be even more anxiety-inducing for new businesses trying to find creative ways to stand out from the crowd and reach their target audience. Those that manage to do it well establish strong customer relationships that are conducive to growth. Others risk falling behind.This year, we’re launching the very first Startups 100 Marketing award, to celebrate the startups that demonstrate the most creative and effective method for building early-stage brand awareness. Intelligent marketing can be the key to growth hacking and establishing a business as a reputable challenger brand. All the big enterprises once had successful marketing campaigns that gave them a fast pass to the major league – and our shortlist of businesses demonstrate similar potential. Our guest judge knows outstanding marketing when he sees it. Finn Lagun is co-founder and CMO of the artisanal pasta brand Pasta Evangelists, a seasoned regular in the Startups-100. Through compelling storytelling that transports its customers to Italy, the brand has grown to become a household name amongst UK consumers in just eight years.Read on to find out who he picked as his winner, and what he had to say about the clever marketing approaches of our five nominees. [/vc_column_text] Introducing Startups 100 guest judge, Finn Lagun! As co-founder of the artisanal pasta brand, Finn is passionate about crafting compelling storytelling through marketing and transporting customers to Italy one bite at a time. Pasta Evangelists has made the Startups 100 Index three times, making Finn the ideal entrepreneur to judge our new Marketing Award. WINNER – Fussy 2024 Startups 100 | Winner of the Marketing award To recognise the startup that demonstrates the most creative and effective method for building early-stage brand awareness. Learn more about Fussy Fussy is a sustainable deodorant that is on a mission to ban single-use plastic from the bathroom so that both the planet and armpits don’t stink. It has claimed the marketing crown thanks to its purpose-driven marketing, as well as out-of-the-box campaigns. After a successful appearance on Dragons’ Den, Fussy collaborated with Deborah Meaden to compose a Christmas song, using armpit fart noises as instruments (we did say it was out-of-the box). Fussy claimed the top spot because of its daring approach. Following loud criticism of the carbon impact of its main rival, Unilever, the brand made headlines after it left an olive tree outside the Unilever HQ as an apology. The bold move established it as a challenger brand and has landed the great-smelling products in the aisles of Tesco, Wholefoods, and Ocado.What did Finn Lagun have to say?“The sheer daring to take on an organisation as big and powerful as Unilever – this could’ve gotten Fussy into deep waters, and that’s what growth hacking is all about. It has not only appeared on Dragon’s Den, but has also leveraged this thereafter in its marketing to great effect. I like to call this ‘brand piggybacking’ – when a smaller challenger brand aligns itself with a bigger partner to benefit from its wider halo effect.”SHORTLISTED – Bold Bean CoBold Bean Co, an F&B brand that makes tasty premium-tasting bean jars, made the shortlist because of the effectiveness of its organic content and brand credentials. In an effort to change the way we view a staid category like beans, Bold Bean Co has focused on sharing what it coined ‘beanspo’, recipe video content that shares tasty ways to cook the product rather than investing in paid advertising. With over 70k followers across TikTok and Instagram, Bold Bean Co collaborates with chefs and content creators to share recipes with its budding bean community. This helps to build its brand awareness, while also giving customers added value. Winner winner, bean dinner.What did Finn Lagun have to say?“Bold Bean Co is an extremely fresh, vibrant and fun take on a previously downtrodden and underloved ingredient. It is Gen Z friendly and has strong social engagement – my compliments to Amelia and Ed for managing to make beans aspirational enough to register this way.” SHORTLISTED – JUBELJubel is a challenger brand disrupting the drinks industry with its refreshing beer product that uniquely combines fruit cider with the seasonality of a crisp lager. Earlier this year, JUBEL launched its Where’s Wally campaign to celebrate being sold in over 500 Tescos – customers had to try and find the character Wally in stores to be in with a chance to win £5,000. The brand also made headlines after pulling an anti-Brew Dog stunt, wherein it encouraged rugby fans to chuck cans of BrewDog into a toilet.Impressively, versus a beer industry average of 83% male consumers, 50% of JUBEL’s consumers are female; a testament to its efforts to position itself as a more diverse and inclusive beer product in a male-centric market.What did Finn Lagun have to say?“In a crowded market, it was thoughtful of the JUBEL team to take a step back to identify an untapped market within beer – female consumers. Identifying this gap in the market was an important step in creating space for early-stage awareness generation and cut through. It’s also great and daring to give BrewDog a taste of its own medicine: this could have backfired, given BrewDog’s propensity for confrontation!’SHORTLISTED – PerfectTedAt first glance, PerfectTed is just another energy drink. But during competitor analysis, founder Marisa says she felt there were few options that appealed to her as a woman. Red Bull, Monster, and Rockstar, all appeared pretty hyper-masculine in their approach. Sensing that creating something that would resonate with more people and be more accessible, PerfectTed’s clever narrative hinges on creating an inclusive caffeinated drink for those with anxiety and ADHD – without the crashes and the jitters. Notable campaigns include the Hardest Geezer Meal Deal Challenge, in partnership with Russ Cook. Wanting to support his mission to be the first man to run the full length of Africa, the PerfectTed founders flew to Angola to meet Cook and give him the ‘ideal’ energetic meal deal complete with a PerfectTed can. What did Finn Lagun have to say?Lagun praised how deploying creativity to create interesting, stand out branding can help generate intrigue around the brand, albeit with limited resources at the early stage. “It’s great to apply to Dragons’ Den and raise awareness in this way,” he adds. “We did the same at Pasta Evangelists!”SHORTLISTED – THIS™Establishing itself as a leader in the plant-based meat market, THIS™ has made our shortlist because of its guerilla marketing efforts that have seen it become the best known meat substitute on the market. Rather than focusing on sustainability and ethical messaging, the company places humour at the forefront, ensuring it is appealing to meat-eaters, not just preaching to nicher vegan audiences. To achieve this, THIS has performed a series of stunts, tricking over 7,000 people into thinking they are eating meat – from high-profile influencers to an entire Italian food show. It also ‘sponsored’ the town of Quorn in Leicestershire as a dig against their meat free rival Quorn, and released a bacon-scented perfume to horrify and intrigue consumers in equal amounts. What did Finn Lagun have to say?“THIS has done a great job of its overall marketing,” Lagun notes. He commends the brand for adopting a disruptive brand tone in its messaging.What does our shortlist say about the future for startup marketing?We’ve highlighted five businesses that are rejuvenating the marketing space by thinking creatively and doing something different to competitors. So what learnings can fellow startup owners take away from this year’s shortlist?“An online presence remains extremely important, and perhaps increasingly important,” Lagun notes. “In terms of community and social media marketing – as Gen Z’s purchasing power grows, it’s important brands are able to communicate directly with their audiences.”Still, Lagun cautions that marketing teams must move away from the assumption that they can simply conquer ecommerce to succeed. In his view, digital acquisition has peaked. Amid evolving consumer habits and high CPAs, strategic thinking is now required to grab consumer attention.“More than ever, brands are having to leverage creativity and, in some cases, sheer chutzpah to grow their business,” he highlights. In some ways, marketing is going back to its origins. Big budgets and audiences are no longer enough – it’s all about the ingenuity and psychology of what makes customers do a double take.“Brands that listen to customers will get the best responses from them,” Lagun concludes. Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Just Started shortlist and award winner They’ve barely celebrated their first birthday, but these budding startups are already busy and blooming. Find out which one took home the Just Started crown for 2024. Written by Helena Young Updated on 10 January 2024 Introducing Startups 100 guest judge, Liz Barclay! Liz Barclay is the Small Business Commissioner for the UK. She has a background in broadcasting and journalism specialising in small business, personal finance and consumer affairs and is author of several business books. She is also Chair of the Fair by Design Campaign (to tackle the poverty premium); and a non-executive Director of the Lending Standards Board and member of the Equity Release Council Standards Board. WINNER – Mr Bug 2024 Startups 100 | Winner of the Just Started award For the company which, despite being in business for only one year, has already demonstrated impressive growth, success, or disruption in its field. Learn more about Mr Bug 80% of the planet embraces insect protein, consuming over 2,000 species in total, but Westerners still grimace at the idea of eating a crunchy critter for breakfast. Mr. Bug is changing that, by bringing the UK’s first mealworm farm to market. Wisely judging that people might not be ready to eat Jiminy Cricket yet, co-founders Conal Cunningham and Paul Walton have focused their initial product development on dog treats. Just one year in, Mr Bug has already secured a significant £270k Innovate UK grant and won an array of prestigious awards including the Global Good Product of the Year. Mr Bug has bolder ambitions, however. Confirming the South West’s status as a hotbed for sustainable talent, its ultimate goal is reducing the UK’s dependence on meat. As Cunningham explains, “mealworms are jam-packed with protein, calcium, B12, iron, and all nine essential amino acids!” Now that’s a tasty statistic to swallow.What did Liz Barclay have to say? “Mr Bug is tapping into what will be a growing need, taking the risk as an early adopter and innovating, while demonstrating one practical solution and shifting public opinion and human behaviour,” Barclay appraises.“Innovative, growing impressively and demonstrating the potential to play an important part in resolving impending food supply insecurity exacerbated by climate change. What is starting fairly small here could have huge potential around the globe.”SHORTLISTED – Athena AIWhile managing his previous venture, the grocery app Grocemania, Askar Bulegenov, kept experiencing a repeat pain point: customers using multiple sales channels to enquire about the same order. Frustrated with the communication issues this created, he and cofounder Artem Shitov designed Athena, a platform that consolidates inbound communications into a single business interface. Even ChatGPT couldn’t have written a better growth story for Athena. After generating over £1,400 in sales, Bulegenov and Shitov became convinced of the platform’s potential, and it launched officially in May 2023. In just over six months, the platform has expanded to a team of 12, secured trials with 200 customers, and been accepted onto the Google AI Accelerator.What did Liz Barclay have to say? “Customer care has been dire in many sectors since the pandemic,” Barclay states. “The market is ripe for innovative solutions that help firms rebuild their reputation for great customer experience in the face of skills shortages. Athena feels as if it could be innovative and disruptive.”SHORTLISTED – Story LockerFrom the name alone, you won’t be surprised to learn that Story Locker boasts an inspiring and emotional origin story. Founder Dhilon Solanki’s Mum passed away at the age of just 50. His son, who had never met his Grandma, started to ask lots of questions about who she was. Wanting to give him more than just VHS tapes and photos, Solanki asked his Dad to record a podcast about her life. That’s when he decided to start Story Locker – the world’s first Paa (Podcast-as-a-Service) business model.All while balancing a full-time job, Solanki has managed to create a customer proposition and market viable products using his life savings. He launched the ‘record from home’ personal podcast platform earlier this year, and has already locked in a number of partnerships with premium services for life’s biggest events including W Uden & Sons funeral services, RNIB, Hitched, and Guides for Brides.What did Liz Barclay have to say? Taking to the podium, Barclay praises Story Locker for “tapping into an existing trend and adding a layer of purpose in a very crowded podcast market. Human stories play an important role in the gathering of social as well as family history. Story Locker’s potential for growth is huge, probably without the need for huge amounts of funding.” SHORTLISTED – Magic AIWe all know that smashing a mirror brings seven years of bad luck. But what about using a mirror to become a smashing success? That has brought only good luck to Magic AI, the AI-powered smart mirror that acts as a personal trainer without the public gym congestion and high prices. Magic’s vision has already earned the brand immense accolades since its launch last year. Key milestones include raising £2m, and collaborating with some of Britain’s leading athletes including football legend Jesse Lingard. Cofounder Varun Bhanot is also making his mark in its push to diversify AI. He was invited to 10 Downing Street to advise the PM on encouraging more ethnic minority youths to build AI. What did Liz Barclay have to say? “Innovative and impressive in terms of funding, Magic feels like the next step up from Peloton,” Barclay summises. “It takes the intimidation out of the workout, disrupts the gym market further and brings the possibility of better health and fitness at home. Investors seem to be impressed and the use of celebrity sport gurus is inspired.”SHORTLISTED – Ujamaa SpiceImage credit: MAVERICK PHOTO AGENCYUjamaa Spice is a mission-driven company that is addressing one of the biggest gaps in UK fair trade supply chains: spices. Founded by Jawahir Al-Mauly in 2022, Ujamaa aims to address the rise in spice exploitation by crime gangs by supporting women farmers in Zanzibar (known as the ‘Spice Islands’).The company sources its produce from turmeric farms run by its own women’s cooperative. Farmers get training, resources, and a fair market price for crops, while buyers get flavourful and ethically-sourced spices for their kitchen cupboards. Ujamaa has already cooked up a storm in the F&B industry. It won the Impact award in Edinburgh’s 2023 Inspire Launch Grow awards and became a Great Taste Award winner. It has also started how it means to go on, and is targeting becoming B Corp next year. What did Liz Barclay have to say? Barclay expresses admiration for Ujamaa’s straightforward mission-backed focus and progress towards promoting industry change. “Ujamaa demonstrates clear emphasis on purpose and ethical business practices,” she says. “Helping to uplift women farmers will make a big difference to families, education and poverty. Purposeful and empowering and with the potential to grow.”Can you start a business in 2024?As Barclay observes, these five inspiring startups collectively embody the boundless passion and diversity that fuel the UK’s thriving small business ecosystem. “UK startups are driven by people with brilliant ideas for providing new solutions to existing issues, how to apply new technology, and everything in between”, she tells Startups.That each of our startups has triumphed despite the challenges of 2023 is testament to the huge potential and resilience that lies within the UK’s entrepreneurial ecosystem. Of course, there are still barriers to face. Lowered investor appetite, combined with a widening skills gap, has slowed growth for newly-established businesses. Still, a Startups survey conducted in late 2023 shows that businesses founded in the past 12 months displayed the highest levels of optimism. And, while funding is often considered the lifeblood of a startup, Barclay rightly emphasises the importance of other assets in supporting scale up.“Often for startups, funding isn’t the answer,” she notes. “The right people for mentoring, supporting, and advising can add much more chance of success. A good mentor who has been there and got the t-shirt is worth their weight in gold.”So what should aspiring entrepreneurs take from this year’s list? Barclay highlights a thread that runs throughout the entire shortlist; an essential element that transcends financial gain and technical prowess: purpose.“Having real purpose behind the idea – whether helping empower women farmers, contributing to solving the increasing food insecurities or improving health and fitness – is often the most important ingredient for prosperity,” she counsels. Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
2024 Startups 100 | Sustainability shortlist and award winner These trailblazers are fighting the good fight against climate change. Meet the five startups shortlisted for this year’s Sustainability award. Written by Helena Young Updated on 10 January 2024 Eco-conscious brands have made huge ground over the past ten years – and nowhere is that more obvious than in the 2024 Startups 100 Index.This year, green overtook Startups’ red as 30% of our top 100 had sustainability as a core tenet of their business strategy. This eco-conscious revolution has even reached our top ten, with half of the leading startups championing planet-friendly practices.Their success proves the impact that eco-friendly companies have had on the business world since Linda McCartney first shocked us with her (whisper it) vegetarian sausages. But gone are the days where recycling a cardboard box was peak tree-hugger.Following a year defined by environmental disasters and greenwashing scandals, those claiming to be eco-warriors in 2024 can’t get away with just a leafy-looking logo. They must now prove their commitment with hard data and transparent reporting.Alongside Chris Forbes, co-founder of bamboo behemoth, Cheeky Panda, we’ve picked out five eco-conscious startups that are world-leading and world-saving. Together, they prove that sustainability is not a buzzword, but a driving force in today’s business landscape.[/vc_column_text] Introducing Startups 100 guest judge, Chris Forbes! Cofounder of The Cheeky Panda, a Fast Track 100 company, Chris is passionate about delivering change for good and has been a public speaker, helping share the journey and inspire others to become environmental entrepreneurs. Alongside his wife and business partner, Julia Chen, Forbes has led the Cheeky Panda to be named a Startups 100 company no fewer than four times. WINNER – Seep 2024 Startups 100 | Winner of the Sustainability award In recognition of a sustainability leader that prioritises the health of the planet as part of its company mission. Learn more about Seep Laura, an eco-conscious shopper, was horrified to discover that while her local supermarket was brimming with eco-friendly options, the cleaning aisle was stuck in a plastic time warp. Determined to clean up this mess, Laura founded Seep, the UK’s first-ever plastic-free cleaning accessory company selling biodegradable sponges, cloths, and brushes.Forbes requested impressive stats from every Startups 100 entrant, and Seep didn’t disappoint. Their 2022 impact report revealed that their compostable products have diverted over 19,000 tonnes of waste from landfills, keeping the planet cleaner and greener.Seep’s commitment to sustainability goes beyond just their products. They’ve partnered with ON A MISSION, a non-profit organisation dedicated to reforestation, to help fund the planting of 626,700 trees, creating a cleaner, greener future.At the same time, after 12 months of rigorous preparation and assessment, Seep became the first B Corp-certified cleaning accessories business. Not only that, it ranked in the top 5% of all B Corp members, giving it Best for the World (BFTW) status for environmental impact. Now, it’s cleaned up at the Startups 100, and can add a Sustainability trophy to its case!What did Chris Forbes have to say? “Despite a small team the numbers are phenomenal,” Forbes assesses. “Seep also has a very high B Corp score which underlines it’s not just a tall tale, but truly impactful.“Seep has also demonstrated a huge amount of measurable impact on limited capital injection, delivering significant revenues,” Forbes enthuses. “This is a perfect example of a great sustainable story, and a great business.”SHORTLISTED – CanopeyInspired by Amazon – and yet very, very different – Canopey is the sustainable marketplace that puts all the world’s verified, sustainable products (including our winner, Seep) in one, easy-to-find place.Canopey’s USP is its carbon calculator, where shoppers can see their sustainable impact instantly. By the time of its launch in September 2023, Canopey’s community of 8,500 had saved over 520kg of plastic waste and 160,000 litres of water – and planted more than 12,500 trees, covering the equivalent of nearly four and a half football pitches.Part of Techstars’ Sustainability Paris accelerator, and having recently received an Innovate UK grant, Canopey next plans to build out its educational platform features, and zero in on planned campaigns with major environmental charities.As a self-professed “big fan of people reporting big numbers of carbon and waste savings,” Forbes expresses a liking for “the ambition on Canopey’s marketplace project”.SHORTLISTED – JudeFeminine hygiene products are some of the worst contributors to the global plastic pollution crisis. In an industry that’s built on disposability, Jude is a disruptive force.Alongside its main bladder supplement product line, the company also sells liners and pads – every layer of which is made using the sustainable plant-based material, bamboo. Its wrappers are made from corn starch and are 100% degradable within 100 days, while its recyclable boxes are made from wood pulp and use 50% less glue than rival products.Jude’s commitment to sustainability extends to their manufacturing process as well. Its supply chain is powered by 80% solar energy, while production uses 20% less water. And despite these eco-conscious practices, Jude remains affordable, with a box of 120 liners costing just £13.75 per month.Forbes particularly singles Jude out for the firm’s superfast growth. “I was impressed with Jude’s strong traction in the market”, he notes, “combined with impressive fundraising and building a team quickly. Great products too.”SHORTLISTED – Renais SpiritsIn the world of premium spirits, innovation can be rare. But Alex Watson (a drinks industry veteran) and his sister Emma Watson (an actress and environmental activist) decided the sector was ripe for change. Together, they founded Renais Spirits, the gin brand that’s not just delicious, but also deeply committed to sustainability.The heart of Renais Gin lies in its unique ingredient of upcycled French pressed wine grape skins. These skins, once destined for the discard pile or animal feed, are now transformed into the gin’s base spirit, giving it a distinctive flavour profile.Renais has also partnered with Mushroom® Packaging for its plastic-alternative packaging that breaks down naturally at home in under 50 days. And if that wasn’t enough, Renais is proudly carbon neutral, having offset a whopping 176,620 KG of carbon through the accredited ClimatePartner program.Forbes gives points to Renais Spirits for its “impressive raising of capital and clear ambitions. The use of mushroom packaging is a clever idea.”SHORTLISTED – UNDO CarbonThe Intergovernmental Panel on Climate Change (IPCC) says we need to remove 10 billion tonnes of CO₂ from the atmosphere every year by 2050 to keep our planet habitable. That’s a daunting task, but one that Jim Mann, founder of UNDO Carbon, is determined to tackle head-on.UNDO’s weapon of choice? Rocks. Enhanced rock weathering technology, to be precise. This nature-based carbon removal solution harnesses the power of minerals to permanently lock away CO₂ from the atmosphere.In 2021, UNDO partnered with Stripe Climate to pilot its groundbreaking technology. Since then, UNDO has made significant progress. Having so far spread over 140,000 tonnes of silicate rock on more than 200 farms, capturing over 35,000 metric tons of carbon dioxide in the process, it is laying the foundation for a more sustainable future; one rock at a time.Forbes was intrigued by UNDO’s application of rock weathering as an emergent sustainable technology. “This is a very interesting business that has scaled very quickly,” he praises.What does Chris Forbes think about the future of sustainability in business?Eco-conscious SMEs faced a disheartening reality last year. The UK hit a major bump in the road towards achieving Net Zero by 2050, when the government scrapped green measures like taxing airlines, or sharing carbon footprint information on goods.Globally, it was a similar story. During the COP28 conference in November, the sultan of Dubai, Al Jaber and president of the summit was criticised for claiming there is ‘no science’ behind demands for phase-out of fossil fuels.As political progress stalls, it would be easy for business leaders to feel despondent. But ‘all talk and no action’ has been the narrative around sustainable transformation for some time, and it should not cannot deter entrepreneurial spirits. In fact, it cannot.As Forbes stresses, demand is still there for better environmental options – even if external support is not. In the face of climate change, rising pollution, and resource depletion, consumers are urgently seeking out companies that embrace sustainability.2023 was marred by high-profile greenwashing scandals as big-names were criticised for misleading the public as to their environmental credentials. HSBC was found to have funded fossil fuels despite its net-zero pledge.Meanwhile, a Guardian investigation found that more than 90% of rainforest carbon offsets by Verra, the world’s leading carbon standard, were “worthless”.Agile startups can answer the outrage by building a strong reputation for authenticity and transparency, showcasing that what’s good for the Earth can still be good for business.“It’s all about the data of the impact you make, not just the story,” says Forbes. “Lot of consumers mistrust big brands that get fined for greenwashing. There is an emergent opportunity for startups to take large chunks of market share because the incumbents are not owning the issues of sustainability and impact.” Share this post facebook twitter linkedin Tags Startups 100 Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
These are the best and worst jobs for a pay rise in 2024 Some sectors are planning for pay rises in 2024, while others count the pennies. Could a career change benefit your bank account this year? Written by Helena Young Updated on 10 January 2024 Today’s job market is a tale of two worlds. While some sectors enjoy bountiful wage raises, others are taking a cautious approach to payroll planning. Now, new research finds that the divide will become even more pronounced this year.Based on a survey of UK businesses, Startups has analysed the sectors poised for significant pay increases in 2024. Leading the pack is the technology sector, where 80% of firms feel confident they can match employee pay expectations.At the other end of the spectrum is hospitality, where thin margins mean that one fifth of restaurants and cafes will struggle to increase wages in the next 12 months.Should you expect a pay rise this year?Towards the end of 2023, Startups asked a representative sample of 546 UK businesses how confident they were feeling about their ability to raise employee salaries in the year ahead.Based on the results, workers should prepare for a payday jackpot in 2024. More than half of all businesses in every sector said they would be likely or very likely to raise pay.In two industries, finance and leisure, no organisation responded negatively to the question, suggesting a very high level of confidence.IndustryNot likelyLikelyTechnology and Software7%80%Finance and Fintech0%75%Leisure0%72%Healthcare and Life Sciences7%70%Manufacturing and Engineering13%70%E-commerce and Retail9%70%Professional Services4%67%Construction6%66%Creative Arts and Media4%65%Education7%65%Agriculture and Food Production16%63%Hospitality and Tourism19%59%Startups’ findings are good news for technology workers, who can expect a big windfall this year. Last year, many tech firms were forced to inflate salaries to access in-demand talent like software engineers.With companies scrambling to keep pace with the ever-evolving tech landscape this year, generous raises are expected to attract and retain top minds. Finance is another industry that has seen rapid digitalisation over the past few years. As banking services increasingly move online companies have been pushed towards topics such as embedded finance.Luckily, the sector seems confident it can keep pace with salary demands, as 75% of companies say they are likely to meet employee pay expectations this year. Tech-phobic firms struggle to keep upLess positively, employees in the education and agriculture sectors are only 65% and 63% likely to meet pay demands, respectively. This shortfall could be due to both sectors lagging behind when it comes to embracing cost-saving technological solutions. Startups’ survey also uncovered that firms adopting new and developing software such as AI are more likely to feel optimistic about their business performance overall in 2024.Online learning platforms and educational technology (EdTech) are disrupting traditional education models, but smaller firms operating on tight margins may struggle to find funding for these advancements.It’s a similar story in agriculture. Cutting-edge tools like drones and AI-powered sensors hold immense potential, but their hefty price tags act as a barrier for many farmers. The contrast between tech-embracing startups and struggling sectors like education and agriculture highlights the critical correlation between tech adoption and financial confidence.Hospitality pay frustrations boil overAt the bottom of the wage forecast lies hospitality, battered by a relentless trifecta of inflation, staffing shortages, and subdued consumer spending in 2023. The storm shows no signs of abating, leaving pubs, cafes, and restaurants facing a precarious tightrope walk over the next 12 months.While wage hikes will not be completely absent, these are likely to be paltry in comparison to the tech boom’s gold rush. 19% of hospitality businesses admit they won’t be able to meet pay demands in 2024.The results raise questions about whether pubs, cafes, and restaurants, already struggling to attract and retain top talent, will be able to compete with more generous sector pay packets. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
AI adoption fuels optimism for UK businesses Not so scary after all? Businesses anticipating AI disruption feel better prepared for 2024. Written by Helena Young Updated on 10 January 2024 Business debates around the rapid adoption of artificial intelligence (AI) have been thrown a curveball, as a new survey shows that firms who are readying themselves for AI disruption feel better positioned for the year ahead.Among 546 UK companies surveyed by Startups.co.uk, a mere 2% of those expecting a high level of AI disruption feel pessimistic about their growth prospects.Meanwhile, 32% of those who anticipate no disruption display negative sentiment towards the future, suggesting that engaging with AI could be the key to business success this year.The survey also shows that 14% of respondents think investing in AI should be their number one priority in 2024, in recognition of the growing potential of AI to unlock a competitive edge and navigate the volatile economic landscape.Tech leads AI charge, while education lags behindAI anxiety has prevented many firms from fully embedding artificial intelligence tools, such as Google Duet and Microsoft CoPilot, into their business.Largely, the mistrust of AI tools appears to stem from unfamiliarity with the software, which has slowed rollout in some sectors.Indeed, industries that are further behind when it comes to digitalisation such as hospitality and food production were less likely to view investment in artificial intelligence as a priority.In sectors where digital innovation is more common, however, the robots have taken over. Startups’ survey finds that tech, as well as finance and fintech, are the two industry groups most likely to say AI investment and adoption is a top priority in 2024.Over one fifth of organisations in both of these sectors label artificial intelligence as their main focus in the next 12 months. Investing in AI leaps above other critical needs, including gaining financial backing and workforce expansion.Industry% of respondents investing in AI in 2024Healthcare and Life Sciences15%Creative Arts and Media12%Manufacturing and Engineering15%Finance and Fintech20%Leisure0%Hospitality and Tourism9%E-commerce and Retail15%Education0%Agriculture and Food Production5%Technology and Software23%Construction0%Energy and Sustainability13%Professional Services15%AI investment sits at the bottom of to-do lists for leisure and educational organisations. In both of these sectors, 57% of firms believe AI will have no disruption on current operations this year – amongst the highest of all 13 industries analysed.Instead, the primary concern listed by leisure and education companies was diversifying income streams. It appears that struggles with overall financial stability have eclipsed the need to embrace digitalisation.AI arms race set to pick up speed in 2024Healthy levels of scepticism can be useful for keeping businesses on the right track when it comes to investment decisions. But in the face of permacrisis, artificial intelligence could be key to confronting many of the biggest challenges impacting today’s companies.Startups’ research indicates that ‘traditional’ industries remain hesitant, potentially stunting their own growth in an AI-driven future.That includes hospitality, where only 9% of firms think investment in artificial intelligence is a top priority. Yet automation has been heralded as a way to fix service errors caused by labour shortages in cafes and pubs, improving speed of delivery as well as order accuracy.Meanwhile, educational startup YouMakr.ai was recently named a top startup for 2024, suggesting that generative AI tools will soon be commonly used to personalise learning.One year on from the launch of ChatGPT, it seems the business world is learning to live alongside AI software. Now, by embracing the technology head-on, UK companies can navigate the coming year with optimism and seize on opportunities for growth. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
OpenAI GPT Store: what is it and can you make money from it? OpenAI is launching the GPT Store next week, allowing businesses to purchase chatbots tailored to their needs, and helping developers to monetise their AI creations. Written by Helena Young Updated on 10 January 2024 OpenAI’s GPT Store will launch next week, opening doors to AI-focused businesses who want to purchase chatbots tailor-built for their operational needs, or for entrepreneurs and engineers creating their own GPTs.The store was first announced during OpenAI’s first annual development conference, but was delayed following the company’s internal crisis featuring CEO Sam Altman’s firing and eventual rehiring.In an email sent to GPT Builders, – developers who use ChatGPT’s large language model to develop AI products – OpenAI stated that GPTs could be monetised through the store, which could turn ChatGPT into a viable side hustle platform.Developing a GPT marketplaceNo coding experience is required to develop GPTs, which can be as simple or as complex as users need them to be. They can range from explaining Gen Z memes to corporate negotiation guides.Developers can simply type in what they want their GPT to do through the GPT Builder, which will then attempt to build an AI-powered chatbot based on the prompt provided.GPTs, or AI agents, are built using ChatGPT-4 and will be available on the ‘Explore’ tab on ChatGPT Plus. In effect, this creates a marketplace for developers to showcase their products and potentially monetise their own AI offerings.How to use the ChatGPT StoreThe launch of the GPT Store marks Open AI’s evolution from an AI provider into a platform. This transformation marks a watershed for tech junkies who want to pursue passive side hustles in the AI arena.Side hustlers will need to have a ChatGPT Plus subscription – which costs around £15 ($20) per month – to build their own GPTs on the Store. Users can also opt for the Enterprise subscription, but will need to reach out to sales for a quote.From the home page, builders can head to the ‘Create a GPT’ page, where with the help of Chart GPT’s LLM and the configurations menu, they can create their own AI-powered chatbot.In order to sell, builders will need to test their model and ensure that it meets ChatGPT’s brand guidelines and that the product is set to ‘public’.Although the relevance of the GPT Store will be heavily influenced by its monetisation model, the move showcases OpenAI’s continuing push to remain at the centre of AI innovation. Can you make money from the ChatGPT Store?Although the monetisation model of GPTs on the GPT Store has not yet been disclosed by OpenAI, the new venture could shake up the accessibility of generative AI app creation.According to experts, GPTs effectively democratise AI. The approach negates the need to pay for expensive consultancies whose business models revolve around building AI tools for their customers.Figures obtained from a recent survey conducted for Startups.co.uk revealed that 15% of startups will be prioritising investment AI in the coming year. Such a trend could make platforms like the GPT Store a potential main source of technological investment for businesses.AI will continue to trend in 2024, and as businesses look for ways to implement the technology, purchasing GPTs could prove an affordable way to meet this goal. Share this post facebook twitter linkedin Tags AI News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
CEOs wage war against Diversity, Equity, and Inclusion Major names including Elon Musk are rejecting business diversity initiatives - and UK SMEs are following suit. Written by Helena Young Updated on 10 January 2024 Elon Musk has conjured up yet another storm on X (formerly known as Twitter). This time, the world’s richest man has taken aim at the implementation of diversity, equity and inclusion (DEI) recruitment strategies within companies.On Wednesday, Musk, who employs thousands of people at Tesla, SpaceX, and X, derided DEI as “just another word for racism” in a post to his social network. Other business leaders, such as Lululemon founder Chip Wilson, have also spoken out against the concept, while experts have leapt to the defence of diversity.Exclusive Startups research has shown that UK company leaders are less likely to prioritise DEI investment in 2024. Startups recently surveyed 546 small business leaders about their top priorities for the year ahead.The results found just 6% of respondents said that DEI would be their main business priority in 2024, instead putting efforts into strengthening revenue or investment.The DEI debateDEI is a people management framework. While it aims to create organisational cultures and environments where everyone feels welcome and valued, some critics argue that it can prioritise identity over individual skills or achievements.Musk’s comments first came after the resignation of Harvard University’s first Black president, Claudine Gay earlier this week. Having previously challenged her focus on diversity, Musk then argued that DEI is unfair to white males like himself in business.The X CEO’s posts have refreshed an ongoing debate in the culture wars about the term DEI – which has its roots in the 1960s civil rights movement – and its application in corporate settings.Arguing for the initiative, Mark Cuban, owner of the Dallas Mavericks, took to X on Wednesday. He highlighted DEI’s role in uncovering talent that can be obscured by traditional, often exclusionary, hiring practices.“I take it as a given that there are people of various races, ethnicities, orientation, etc that are regularly excluded from hiring consideration”, he wrote.DEI sidelined in troublesome economic climateWhichever side entrepreneurs are on, the DEI debate has certainly heightened in today’s poor economic climate. Amid cash flow challenges, UK firms are increasingly scrutinising their spending and DEI has emerged as one of the first victims.Often viewed as “non-essential” expenses by company accountants and finance directors, initiatives like DEI and sustainability can be tempting targets for cuts due to their less-tangible return on investment (ROI).Our own survey results suggest that many UK business leaders are making the difficult decision to deprioritise DEI. Instead, diversifying revenue streams (24%) and acquiring funding (20%) given as the top two responses.Expanding workforces came joint second in the list of priorities – which may sound a note of caution for best hiring practices if DEI is seeing little focus.Primary business priority for 2024% respondentsDiversifying revenue streams24%Expanding workforce20%Acquiring funding20%Investing in AI14%Focusing on Environmental, Social, and Governance (ESG) initiatives6%Enhancing Diversity, Equity, and Inclusion (DEI)6%Advancing Corporate Social Responsibility (CSR)5%Strengthening cybersecurity5%DEI derision spells danger for talent warsWith one-fifth of our survey respondents reporting they plan to expand their workforce in 2024, companies must be wary of the potential pitfalls of short-sighted cuts.Research suggests that DEI and sustainability efforts can be key to hiring right, by reducing employee turnover and opening doors to new markets and talent pools.This is particularly relevant given today’s notable labour shortages. Without DEI investments, companies might find their recruitment process is hampered by a smaller, less diverse pool.Reinforcing this perspective is Danielle Bowman, founder of Found by Few (a specialist diverse hiring firm) and guest judge for Startups 100’s DEI shortlist.Bowman emphasises that even in this economic climate, investing in DEI is “more important than ever” for businesses. “It’s not just about customer buy-in,” she asserts, “but about hiring and retaining the best talent. You can’t grow without either.”Lululemon’s culture logjamAnother vocal detractor of DEI has been Chip Wilson, the founder of the popular gym wear firm Lululemon. In an interview with Forbes earlier this week, Wilson derided the idea of encouraging brand inclusivity.“I think the definition of a brand is that you’re not everything to everybody,” he said. “You’ve got to be clear that you don’t want certain customers coming in.”Wilson’s decision to shun DEI is strangely timed. As the business world becomes globalised, companies operate in an increasingly diverse landscape. Catering to new audiences has become crucial for improving market reach and preserving brand reputation.While he might turn his nose up against the value of DEI for business performance, Wilson’s own views have done much to devalue Lululemon in the eyes of investors and customers.In 2013, after he said the company’s leggings don’t work for some women’s bodies, thousands of Lululemon customers reacted in anger. The firm was forced to post an apology on X, saying that Mr Wilson’s remarks were not reflective of the company’s stance.Public figures associated with a brand can significantly impact its image and organisational culture. When such figures express views deemed offensive or discriminatory, it can alienate customers and damage brand trust. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
You want a pay rise? Here’s how to get one in 2024 More than four out of five businesses are planning to raise employee wages this year as the cost of living continues to rise. Here’s how to lead negotiations. Written by Helena Young Updated on 10 January 2024 With inflation still eating into hard-earned pay cheques, a pay rise might feel as likely as a New Year’s wish for UK employees. But as it turns out, bosses are still open to raising salaries in the current economic climate.In a survey of 546 UK businesses, conducted at the end of last year, Startups uncovered that 82% of companies plan to raise employee wages in the next 12 months.Companies are waking up to the financial pressures on workers and the fierce competition in today’s tight labour market. 71% of firms feel confident they can meet employee pay expectations, signalling a commitment to attracting and retaining talent this year.Below, we offer a practical guide to tabling the motion for a wage rise in 2024. Armed with hard facts and clear data, we’ll explain how to land the raise you deserve and how much to ask for.How to ask for a pay rise in 2024We are famously bad at talking about money in the UK, particularly when it comes to our earnings. Salary is a subject that is thornier than most. Certainly, it feels nerve-wracking to breach it with a manager.Still, requesting a raise is a professional conversation, not a confrontation. You are far more likely to arrive at a solution you and your employer are happy with if you approach it like any other work request: with plenty of planning.Here are five ways to approach to improve your chances of receiving a raise this year:1. Know your worthWhen calculating your dream wage, it’s important to dive deeper than an off-the-cuff survey of your colleagues. The most accurate results are obtained by industry benchmarking. Examine data that impacts salary weightings like industry, location, experience level, and company size. Use multiple sources for greater precision, such as professional networks, industry reports, and even anonymous employee platforms like Glassdoor.2. Go face-to-faceSkip the Slack ping. Demonstrate you are serious about the subject by scheduling a formal meeting with your manager, or raising it during a relevant occasion such as a performance review.Remember to choose your timing wisely. Avoid busy trading periods or times when the company might be facing financial difficulties, as this is more likely to result in a negative response from management.3. Quantify your achievementsMake it easier for managers to review your case by turning your good deeds into quantifiable data. Gather metrics like sales figures, KPIs met, or positive client feedback. Be specific about what you have achieved since your last pay reviewHaving this evidence to hand will add punch to your case, demonstrating your value beyond subjective claims, and also make it harder for the employer to pose any potential arguments against a raise.4. Transparency mattersIf you are a freelancer or sole trader, it’s a good idea to consistently examine your pricing strategy to evaluate whether your costs might need to increase. This is a perfectly valid measure to take, particularly as demand grows for your services.Still, it’s crucial that clients don’t feel blindsided. Give plenty of warning, and emphasise the added value you bring them. Consider offering a temporary discount to ease them into the new charges as a goodwill gesture.5. Find win-win solutionsCompanies have budgets and constraints. If you become attached to a specific figure and do not allow for wriggle room, you might find yourself stuck in a deadlock.Prepare several remuneration options you would accept that align with the company’s budget and priorities. These might look like alternative employee benefits, a phased salary increase, or defined additional responsibilities you might take on as a result of the increase.How much of a raise should I ask for?Last year, a shortage of skilled labour across all sectors saw many organisations inflate salaries as a way to entice job hunters. Following months of record increases, this pace has since slowed as wage growth becomes impossible for cash-strapped firms to maintain.The Startups survey also asked respondents how much they plan to increase employee salaries by in order to match pay demands. Based on the results, while demands for higher wages might persist, extreme spikes in salaries are unlikely to become widespread.The majority of bosses anticipate increases between 4-6% in the year ahead. This figure aligns with the current economic climate, where companies seek to balance employee needs with budgetary constraints.Notably, the range slightly surpasses the latest inflation rate of 3.9%. This suggests that the need to remain competitive in the war for talent, and motivate existing staff, surpasses financial concerns for some firms.Salary risePercentage of respondentsIncrease by 1-3%25%Increase by 4-6%29%Increase by 7-9%14%Increase by 10%12%Increase by 11%+2%I do not plan to raise employee wages18%Hidden factors affecting your salary raiseStartups’ survey also highlights pockets of significant salary growth. For a fortunate 14% of employees, a raise of 10% or more is on the cards this year.Multiple factors contribute to whether a business can afford to swell its labour costs. It is important to be aware of external or cultural factors that might affect the outcome of your request for a bigger bite of the wage cake.Financial performance is an obvious influencer. During a period of downturns or low profitability, such as in today’s economy, raises might be less likely due to stricter budgets.Location and sector is another. Salaries within your industry and for similar roles in your geographic area can also sway what the company considers a fair compensation, which is why industry benchmarking is so important when submitting a request.Some companies might also have established pay review schedules or specific criteria for awarding raises, while others might be more flexible in their approach.Getting a raise is a two-way conversation. By understanding the factors involved and approaching the negotiation strategically, employees can significantly increase your chances of securing the compensation they deserve – while keeping managers and bosses happy. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
Side hustle tax: Amazon is paying less tax than Vinted sellers Starbucks, Amazon, Meta and other big sellers have spent decades paying a lower tax rate than your average Joe business owner – but is their time up? Written by Helena Young Updated on 10 January 2024 If you didn’t already know this, prepare to be irritated. Bigger companies and their CEOs tend to be eligible for, and are often partial to, a tax loophole. In fact, at least 18 billionaires received benefits checks in 2020 because their tax returns placed them below the income cutoff, according to research from ProPublica.In a landmark reform, a global minimum tax is expected to be implemented for the first time in history for companies who are active in EU Member States – meaning fewer ways for these companies to avoid their taxes altogether. This is expected to bring back $220 billion in annual tax revenue worldwide.The 15% minimum rate requirement is a step in the right direction but it’s still not as much as the little person is required to pay. The HMRC reform that came into force on 1 January means side hustles are eligible for tax and the average Vinted or Etsy seller will probably still be paying more at 20%. In this article, we’ll look at the ways in which the big fish have played the system and what the small fry need to do to keep their heads above water. In this article, we will cover: The new side-hustle tax How the super rich get lower taxes Three major firms paying less tax than Vinted sellers Conclusion The new side hustle tax As part of a national initiative to curb tax evasion that came into place 1 January 2024, digital selling platforms such as Ebay, Vinted, Etsy and Amazon are now mandated to share user information with HMRC.The threshold for action is set at earning more than £1,000 from your side hustle. Once this milestone is reached, registering as self-employed becomes mandatory. This is primarily what HMRC will be verifying – you may receive a nudge from them at this stage if you haven’t already registered. Fear not – the taxman won’t come knocking until your earnings surpass £12,570. At this point, your profits will be taxed at 20% annually. How the super rich get lower taxesWhy do the affluent generally pay a lower percentage of their income and wealth in taxes than the average person? It seems unfair, but one explanation for why affluent individuals and companies pay lower taxes is their multiple income streams. For the wealthy this could come from stocks and shares, extensive joint ventures and partnerships and inheritances.While the average person needs to use extra income they earn on everyday expenses such as energy bills and travel costs, especially as the cost of living crisis continues to bite, wealthier people have the luxury of using extraneous income to grow their businesses. Investment based on their perceived net worth rather than liquid assets is more likely. Equally, many big name companies get by on the power of their reputation and or their leader’s personal brand, and use that for leverage for further success, in a way the average small business owner or side hustler may not be able to. Three major firms paying less tax than Vinted sellersWe’re using Vinted as an example here, but really this applies to any small business or side hustle owner from Ebay sellers to Squarespace website owners. Amazon: deductions via UK tax creditsAmazon’s main UK division paid no corporation tax in 2023 for the second year in a row. The ecommerce giant benefited from the government’s “super-deduction” scheme for businesses that invest in infrastructure, which was introduced by Rishi Sunak when he was chancellor. This tax credit was put in place to help businesses during the pandemic, but it was just for a limited time and ended on 31 March 2023.Amazon declared that £1.6 billion of its takings were investment in infrastructure for its warehouses in the UK. It is understood by the Fair Tax Foundation that as a result, Amazon’s main UK division paid no corporation tax (or came to some arrangement behind the scenes for an undisclosed amount).Amazon also received a discount of £75 million in 2021. Starbucks: royalties and shadow companiesDespite 14 years in business and a Starbucks on every corner (with 735 outlets worldwide), it was reported that the conglomerate also paid no UK corporation tax in the 2011/12 tax year despite making £380m.The subject of intense EU scrutiny, it seems the multinational java giant was able to write off most of its profit as ‘losses’. So how did Starbucks do it? Starbucks owned other companies that were relatively unknown to the public. These shadow or shell companies were legally separate entities. Starbucks’ incorporated their shell company in a country that had lower taxes than the UK and claimed the shell owned Starbucks’ intellectual rights, such as their trademarks and copyrights. The coffee giant then went on to claim that despite profits, it was actually ‘in debt’ and ‘paying interest’ on its intellectual property that it was “renting” from the shell company. Interestingly, the debt amount was the same as the amount owed in tax.And thus, Starbucks tax expectations for the year ended at zero.Meta: the CEO’s $1 salaryMeta (or more specifically its founder Mark Zuckerberg) is currently using a perfectly legal but dubious method of keeping his cash flow low on paper: he has assigned himself a yearly salary of literally only one dollar.One-dollar salaries are “used in situations where an executive wishes to work without direct compensation, but for legal reasons must receive a payment above zero, so as to distinguish them from a volunteer.” The practice started in the 1940’s as an honourable gesture from billionaires who wanted to aid in war efforts, but weren’t allowed to do so without payment. Accepting a modest sum allowed continued support. However, this generosity has morphed over the years into a tax avoidance method. What actually makes Zuckerburg (and other CEOs like him) rich is that he takes stocks instead of a significant salary – and that seems to be working out in his favour, as it was last recorded that Zuckerburg’s net worth stands at £96.7 billion. ConclusionWith a global minimum tax in the offing, the hope is to block some of the tax avoidance practices of the multinationals and level the tax rate playing field for all businesses. But this doesn’t mean the SME owner or side hustler can plead ignorance of recent UK tax reform. Sellers beware the Side Hustle tax! Stay educated on all the tax deadlines and rules you have to follow. To keep yourself safe, it’s best practice to seek advice from a financial advisor or accountant (or invest in some quality accounting software) and to keep records of all financial matters. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
Flexible working is set to explode in 2024 After years of back-and-forth with workers, UK employers have definitively embraced remote and hybrid policies as their preferred way of working. Written by Helena Young Updated on 10 January 2024 Forget rigid routines and commutes that eat into your mornings, a new wave of flexibility is set to wash over UK offices in 2024, as more employers embrace flexible working arrangements. Startups surveyed 546 business owners towards the end of 2023 about their current workplace model. Based on the results, 66% of respondents currently offer flexible working in some form, versus just 28% of firms that are based in the office full-time.That figure is set to grow this year. Startups also asked businesses whether they would introduce alternative workplace models to the future workforce. The results show that the same percentage (66%) will embrace a flexible work model in 2024.Remote work biggest winner amongst employers14% of UK businesses surveyed are planning to increase the number of days that their staff can work remotely next year, making it the clear favourite over other flexible schedules.In comparison, just 6% of companies surveyed said they planned to require staff to come into the office more days per week. This suggests that employers are waking up to the positive benefits that flexibility can bring to workplaces over rigid work schedules.Workplace model being introduced in 2024% of respondentsIncreasing number of days staff can work remotely14%Introducing a four-day work week12%Introducing flexi-time11%Allowing staff to work from anywhere11%Hiring for more part-time roles3%Increasing staff number of days in the office6%No changes planned44%Other niche arrangements favoured by employers in 2024 include implementing a four-day week, flexi-time (where the employee can adjust their own start and finish times), and hiring for more part-time roles.New to the flexible working scene is the employee benefit of ‘work from anywhere’. The perk means that staff are permitted to work in a different city, region, or even country, to where their employer is based.That 11% of companies are planning to introduce this benefit next year is a signal that workplace borders are being considerably eased. UK employees can currently base themselves in over 40 countries to work remotely with a Digital Nomad visa.Employees empowered to request flexible working this yearAfter years of campaigning post-COVID for employees to sit back at their desks, Startups’ findings provide a long-awaited verdict in the return to the office debate.Businesses have finally accepted that workers will not easily relinquish work from home benefits. Once hesitant to embrace change, they are now actively planning for a 2024 reshaped around employee flexibility.Many UK workers have thrown their support behind the fight for home working. A recent survey of 1,000 employees found that 94% of respondents agree it leads to improved staff morale and better work-life balance.It can also save employees money – a crucial perk in light of the ongoing cost of living crisis. Ditching the daily commute translates to reduced transportation costs. Additionally, remote workers can avoid expenses like professional attire and lunches bought out.These individual savings can contribute to a happier, more financially secure workforce, potentially boosting morale and productivity. How going remote can help recruitmentSwitching to flexible working could also give companies an advantage in the recruitment process, as data shows job hunters are increasingly favouring work from home over the office environment.Analysis by Instant Offices finds the most in-demand jobs are overwhelmingly remote roles. 65% of the UK’s most sought-after jobs don’t require office attendance. Professions such as gamekeeper and PE teacher have seen the biggest rise in popularity in the last year.Of course, not all jobs are suitable for remote work. Some roles require physical presence or collaboration that’s difficult to replicate virtually.Still, Startups’ survey illustrates the range of options available for introducing flexible working beyond the best-known policies like hybrid or remote work. Firms that take these steps will be more attractive to top talent, giving them an edge in the recruitment game.Job seekers will be handed another big win this year when the government’s Flexible Working Bill, also known as the Employee Relations Bill, will come into effect.As a result of the law change, UK workers will be empowered to request a flexible work schedule from day one of employment. Employees will also be able to make two requests for flexible working hours, times, or location in a 12-month period.Office downsizing in 20242% of the businesses that Startups surveyed reported that they were currently based in coworking spaces, while 18% are in fully remote work.That one in five companies has officially moved out of the full-time office testifies to a growing trend amongst business owners. In the UK, many employers are either downsizing to a smaller workplace, or else turning the lights off permanently.In a recent survey by real estate consultancy Lambert Smith Hampton, approximately 27% of small businesses said they were planning to downsize their office space this year.This shift isn’t just about employee perks; it’s about cold, hard cash. Most of the respondents to the Lambert Smith Hampton survey said they were motivated by cost. In total, 78% expected to save money by relocating.Average office rental costs in the UK are nearing £3,000 per month. With business rates set to increase in April 2024, and the rate of inflation showing no sign of ebbing, the decision to scale down is a savvy way to avoid paying extortionate monthly bills.Beyond rent, offices come with a hefty list of utilities: electricity, water, heating, air conditioning, internet, and maintenance services. Reducing your physical footprint, or finding a serviced office provider, naturally translates to lowering these operational costs.In fact, switching to a hybrid payment plan at a coworking space has been estimated to save SMEs around £20,000 per year in reduced overheads.Already working flexibly? Read about 50+ employee benefits and perks you can introduce to improve staff morale and productivity in 2024. Share this post facebook twitter linkedin Tags News and Features Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
Knowledge bases: how to build your own for customer service success Discover how a powerful knowledge base can be your secret weapon for bettering customer service, agent satisfaction, and your business’ bottom line. Written by Helena Young Updated on 10 January 2024 Knowledge is power, especially in customer service. When your clients can find answers to questions and troubleshoot steps quickly and easily, they can resolve issues on their own time – improving their experience as well as the efficiency of your support team.This is why knowledge bases are crucial for companies. Acting as a single repository for information, they have replaced online forums, emails, and social media comments to provide a self-service checkout for customers seeking to understand your products or services.In this article, we’ll explain what a knowledge base is and what benefits they offer a small business. We’ll also offer a step-by-step guide to creating an effective knowledge base, so you can master the ropes yourself. This article will cover: What is a knowledge base? Why your business needs a knowledge base Creating your knowledge base: 5-step guide Best practice tips for making a knowledge base (with examples) Conclusion What is a knowledge base?A knowledge base is a hub that gives people access to information about your business. Published online, it provides educational documents or instructive content for customers to easily access or download.The type of data stored in a knowledge base depends on several factors including USP, industry, and product offering. For example, a tech startup might explain how to download a new software update, whereas a sustainable clothes shop might include details about how its stock has been ethically sourced.Whatever shape your content takes, it shares the same purpose: to reduce the pressure on customer service agents. A knowledge base allows customers to find an immediate solution to their query.8 types of knowledge bases to educate customers1. Essential categoriesWhat is it? General information such as contact details for different support channels, your company mission statement, or valuesBest for: anyone! Every firm needs to offer these key materials to customers2. Frequently Asked Questions (FAQs)What is it? List of questions commonly asked by the Voice of Customers (VoC) or users, along with answersBest for: those with high volumes of related queries like contact centres or ecommerce firms3. Introductory guidesWhat is it? An overview of a product, service, or concept, written for beginnersBest for: explaining complex offerings or technologies, such as software onboarding guides4. Step-by-step instructionsWhat is it? Detailed instructions on how to complete specific tasks or use a productBest for: businesses with technical processes like signing up to an online account5. Video demonstrationsWhat is it? Visual walkthroughs of processes using screen recordings or animated tutorialsBest for: firms with visually-driven products or processes, such as fitness routines6. GlossariesWhat is it? List of specialist terms and definitions, relating to a particular field or industryBest for: firms with highly technical jargon or niche terminology, like law firms7. Blog postsWhat is it? News, insights, and opinions that engage the audience with broader topics related to the brand or industryBest for: firms offering complex services that want to demonstrate their technical expertise, such as healthcare providers8. Explainer diagramsWhat is it? Visual representations of how a product works or is assembledBest for: technical products requiring assembly instructions, such as a furniture store Why your business needs a knowledge baseHaving a well-organised knowledge base brings the following benefits to your customers, service agents, and overall business performance:Improved self-service: knowledge bases remove the strain on customer service channels, reducing wait times and increasing customer satisfaction Consistent information: every customer receives the same accurate and up-to-date information, eliminating confusion and inconsistencies24/7 access: customers are able to visit the knowledge base anytime and anywhere, regardless of your business hours or locationReduced workload: setting a knowledge base as your first point of contact means support teams will get fewer repetitive questions and can focus on complex issuesCost savings: lowered support costs, faster onboarding, and improved agent productivity all lead to significant cost savingsCompetitive advantage: a well-maintained knowledge base differentiates your business by providing exceptional customer serviceBoosted brand reputation:you’ll garner enhanced loyalty and reputation by providing easy access to accurate information, helpings you to build and manage your customer relationships Creating your knowledge base: 5-step guideKnowledge bases are not meant to rival the British Library. The most important feature of a knowledge base is to offer essential information only.Sticking to the need-to-know information will keep your knowledge base focused and ensure your customers can quickly find the answers they need without wading through unnecessary fluff.We’ve created a guide on how to design a knowledge base in five simple steps:Step 1. Conduct customer researchBefore you start producing content, think about who will be reading your knowledge base. Who is your target audience? What are their pain points? Research their customer needs. Why are they coming to you for guidance?Conduct an online survey, 1:1 interviews, or invite a focus group to share feedback. Once you have gained clear insights into your customers’ needs, you can tailor your content accordingly.Step 2. Choose your knowledge base typeAs we’ve highlighted above, there are eight main types of knowledge base. Depending on your business aims, some will be more relevant than others. For example, a hair salon is less likely to share an on-site glossary when compared to a mortgage broker.Step 3. Structure your contentOrganise your content plan in a way that makes sense to users. Consider using categories, subcategories, tags, and keywords to make content easy to find. Use the data collected in step one to decide how the knowledge base type is best organised.As an example, a personal trainer is publishing a range of instructional videos for their customers. They might choose to structure their content by difficulty, such as beginner and expert. Or they might organise it by activity, such as the areas of the body being worked on.Step 4. Create and upload your resourcesNow it’s time to make the content you will be hosting. Appoint a specialist project manager for this task to oversee creation, determine the primary messaging for each article, and review the finished products.Take the time to research the best platform to host your knowledge base. Your website builder is an obvious choice, but there is also the option to go with a specialist knowledge base software provider, such as Zendesk.Step 5. Promote your knowledge baseOnce your knowledge base is up and running, promote it to your employees, customers, and partners. You can do this via email, social media, your website, and even in-person training. Best practice tips for making a knowledge base (with examples)We’ve explained how – and why – a knowledge base is vital for businesses to stand out from the competition. Here are some best practice tips to ensure your information is available and clearly visible to your audience:1. Keep content freshEnsure that you regularly update your content and promote any new guides or resources. As your business develops, so will the number of questions your growing audience wants answered.Case study: Microsoft Support has dedicated pages for sought-after updates like product releases and fixes. It even boasts an area of the website called ‘Trending Topics’, displaying its most viewed articles to send customers directly to their point of interest.Source: Microsoft2. Communicate with usersCustomer feedback is an organic method to continuously improve your knowledge base. Ask service agents to regularly compile common questions and solutions from support channels.Case study: HubSpot is a great example of a brand that actively engages with customers on its knowledge base. The CRM and marketing platform allows users to rate articles and provide feedback by asking ‘was this article helpful?’, which directly informs updates and content improvement.Source: HubSpot3. Produce a style guideAny content published by your business should be consistent with your brand’s tone of voice, similar to marketing materials. Focus on clarity and conciseness, and avoid jargon and complex sentences.Case study: Slack is the messaging platform that has turned business communication informal. Its knowledge base is similarly themed. Emoji-led bullet point sentences, combined with a playful tone, make learning about Slack’s features engaging and memorable.Source: Slack4. Prioritise intuitive navigation and searchKnowledge bases should feature clear menus, engaging visuals, and a search bar to let users quickly find what they need. Having a logical content structure will also improve usability.Case study: as you’d expect from the world’s number one search engine, Google’s knowledge base leverages its renowned technology to help users find relevant information. As users type their query, Google’s search bar suggests relevant articles and topics for context-driven results.Source: Google Workspace5. Cross-reference with other channelsFor customers to use your knowledge base, they first need to know about it. Ensure any content is linked to and referred by other customer support channels like FAQs, chatbots, and employee training materials.Case study: Amazon has one of the best joined-up knowledge bases in the world. Users can access the knowledge base directly from customer support pages, product listings, and the Amazon app. Virtual assistant Alexa can even answer basic questions verbally using information from specific articles.Customers can ask the Alexa Echo Dot a question ConclusionWhile consumer expectations are increasing and support channels diversify, the need to deliver fast, accurate, and consistent customer service is a crucial differentiator in today’s market.This guide provides a practical roadmap for constructing a robust knowledge base. Through it, organisations can develop a valuable resource for their CRM database by dispensing answers to common queries before customers can even raise their hands. Share this post facebook twitter linkedin Written by: Helena Young Deputy Editor Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.