Month: June 2023

A new online marketplace, dedicated to buying and selling pre-loved clothing for children, has received an investment of £150,000 to unlock its plans for growth.

Just three months since launch, Cress is expanding to create more opportunities for customers to buy and sell pre-loved, with new categories being launched for accessories and premium brand clothing.

The investment will also enable Cress to partner with sustainable clothing brands and introduce ‘Sustainable New’ options to purchase. By the end of the year, the business is predicting a growth trajectory of 4x its current value to bring its total to around £2.5m.

With the UK marketplace thriving, Cress is also turning its attention to international territories and is set to launch Cress Australia and New Zealand in Autumn 2023.

This will include the platform’s unique ‘Golden Service’ subscription, which removes the hassle of selling by providing a postal bag for parents to fill and return. The service has proven popular, with 17 bag requests being made within just one day.

To continue its growth, Cress is now looking to enhance its position as a  community-created platform with a crowdfunding campaign and a Facebook group. The group will focus on connecting parents with each other and free educational events happening across the UK.

Carl Morris, Co-founder of Cress, commented: “As a start-up, securing investors who believe in the vision you have for your company is vital in order to make it a reality. At Cress we aim to create a community for like-minded parents to think and shop more sustainably and create a better future for our children. The investment we’ve received has already increased the company’s value by 57% and has played a key role in completing our expansion into Australia and New Zealand.

“Being able to build upon our strong community and customer base is a core objective for Cress and it’s amazing that less than a year after our UK platform went live, we will bring our sustainable and community values to a global market. We hope it will enable more people to think more sustainably when buying clothes. With numerous plans in place to grow our offering in our first year, we’re looking forward to the months ahead.”
 
Read more:
Pre-loved children’s clothing marketplace, Cress, receives six-figure cash injection to grow and expand down under

Google has announced that it is launching new Cybersecurity training to equip people with the skills needed to kickstart a career in the sector and to help businesses mitigate cybersecurity risks.
Google’s new Cybersecurity Career Certificate addresses the UK’s growing cybersecurity skills gap by providing a low-cost and accessible way for people to gain the entry-level skills required to help fill critical cybersecurity roles. The courses can be completed online in under six months of part-time study — with no prior experience required. The course teaches people to identify common cyber risks, threats and vulnerabilities, and the techniques to mitigate them.
Both the lack of digital skills and cybersecurity concerns are listed among the top digitalisation barriers for SMEs. Research from Kantar shows that 43% of small and medium-sized enterprises (SMEs) surveyed have been unable to hire cybersecurity support due to the shortage of specialists or the difficulty attracting, retaining or contracting cybersecurity experts. An analysis of job posts in Britain  between January 2022 to January 2023 shows a 59% increase in the number of advertised cybersecurity related roles, with almost 70,000 unique job postings advertised during that time.
Training and upskilling is key to mitigating the risk of a cybersecurity attack. Modelling from Public First shows that the UK could mitigate £3 billion worth of cybersecurity risks by deploying AI and upskilling people and businesses. DSIT’S Cyber Security Breaches Survey found that almost a third (32%) of UK businesses reported a cyber attack in 2022.
Course completers will get hands-on experience using Python, Linux, and an array of security programmes including Security Information and Event Management (SIEM) tools and will gain the qualifications needed to begin a career in cybersecurity.
Google.org, Google’s philanthropic arm, is also launching a Cybersecurity Fund to help build a diverse talent pipeline for the cybersecurity sector in Europe and the UK. Google.org is giving $1 million worth of funding to INCO and Women For Cyber to provide scholarships to women in the UK and Europe from lower socio-economic backgrounds to access the Cybersecurity Career Certificate and tailored wraparound support including mentorship, peer-to-peer groups and job interview preparation.
VP & Managing Director for Google UK and Ireland, Debbie Weinstein, said: “The UK’s digital skills gap, and the lack of cybersecurity experts specifically, threatens to hinder future progress. Both the lack of digital skills and cybersecurity concerns are listed as SME’s top digitalisation barriers. This is why we’re launching our new Google Cybersecurity Career Certificate to provide Brits with the job-ready skills needed to fill the roles in this high-growth sector, and to provide more businesses with the expertise needed to safeguard future economic growth.”
Minister for Science, Innovation, and Technology, Viscount Camrose, said:
“Staying on the cutting-edge of cyber security is critical to unleashing the benefits technology has to offer. The UK has already demonstrated leadership by implementing our world-first Product Security Regime, and to match this ambition it is vital that British businesses have access to the talent they need to keep their systems safe.
“It’s a huge vote of confidence to see global technology companies like Google continue their commitment to the UK, particularly as we work together to build cyber security skills. Opening new career opportunities for British workers is an important step in building a highly-skilled, diverse workforce to safeguard our economy”.
Specifically for small organisations, Google is also partnering with the NCSC to offer SMEs free online business security training to introduce small business owners to the basics of cybersecurity. The new training programme – “Improve your online business security”–  takes one hour to complete and is available either online or in-person at Google’s nationwide Digital Garage events.
Sarah Lyons, NCSC Deputy Director for Economy and Society, said: “Cyber criminals represent a challenge for all organisations, but we know that they are increasingly viewing small businesses as attractive targets.Successful attacks can be devastating for a business, causing huge levels of disruption to operations and in the worst case scenarios shutting them down completely.
“I strongly encourage small business owners to explore this new training programme – and the NCSC’s other resources – to boost their defences and keep cyber criminals locked out of their business.”
Both the Cybersecurity Career Certificate and the SME cybersecurity training programme have been created in partnership with Google’s own in-house ‘white hat’ hackers featured in the cybersecurity series, Hacking Google. The series discusses the skills the team uses to protect the technology company from cyber attacks.
Read more:
Google launches new cybersecurity training to help UK businesses growing demand for cyber support

The government has unveiled a £7 million fund to support the most remote areas in the UK and provide them with better access to wireless networks which will support the government’s wider mission of growing the rural economy.
The new fund will involve testing new ways of bringing together satellite, wireless and fixed line internet connectivity with the aim of providing fast and reliable connectivity to remote areas for the first time, helping to support the likes of farmers and tourism businesses.
The investment follows the government’s £8 million grant scheme that they announced earlier this year which committed to delivering improved, high-speed broadband via satellite connectivity to up to 35,000 homes in the most rural areas of the UK, speeding up broadband by 10 times.
Rural areas currently contribute 15 per cent to the UK’s economy and the government hopes to support these communities in all areas, including housing, transport, digital connectivity and jobs, with the goal of providing improved opportunities.
Elizabeth Anderson, Interim Chief Executive Officer at the Digital Poverty Alliance, commented: “It is fantastic to see the government taking further steps to support the drive of providing connectivity and digital access for everyone. For some, access to wireless networks is an everyday norm, however, for millions, this is currently out of reach, leading to exclusion and acting as a key barrier when looking for jobs, or attempting to use services which are now commonly online as well as many other tasks that require digital access.
“The release of this new fund coincides with the DPA’s launch of the National Delivery Plan, which sets out 6 core missions to end digital poverty. Digital technology plays a huge role in individuals’ lives, affecting our ability to learn, participate and interact, highlighting the vital importance of proving everybody with digital access. While it is great to see the government making steps in the right direction, we must all do more to support those who lack access with the hope of a fully connected UK in years to come. We must also remember that digital inclusion is about more than just connectivity, with devices, skills and trust in online services all vital.”
Prime Minister Rishi Sunak said: “I have pledged to build a better future for people in this country, and our rural communities are right at the heart of that promise.
“That’s why I’m determined to make sure that their interests are front and centre of all our work to grow the economy and strengthen our communities – so that every part of our country gets the support it needs to thrive.”
Read more:
Government launches £7m fund to bring digital access to rural communities

BrewDog co-founder and CEO James Watt has announced that all five finalists of his Next Unicorn competition will each be taking home a share of his £1million investment – backing an extra two firms who expected to miss out at the contest’s Las Vegas final.
Watt had initially planned to back three brands in his search for the next billion-dollar business but, having been so impressed by the quality of the final five, the BrewDog boss will now be injecting a minimum of £150,000 into help propel each finalist on their way to their intended unicorn status.
Announcing the news to the winners at BrewDog’s stunning Las Vegas rooftop bar, Watt committed to investing an initial £1million of his own cash, with a further £4million up for grabs, should the winning businesses reach particular milestones.
The Next Unicorn winners:

Company
Business description
Investment

Basket
An app allowing shoppers to bookmark potential purchases from any site
£250,000

Mous
Extra-protective cases and accessories for phone cases, headphones, and other consumer tech
£150,000

Tallow & Ash
A range of planet-friendly laundry shampoos and conditioners, aiming to revolutionise the way clothes are washed
£250,000

Uncouth
Personalised and prescribed skincare treatments
£150,000

Yum Bug
Edible bug-based recipe boxes and snacks
£200,000

Speaking about each finalist:
James Watt on Basket: “It’s difficult to find real innovation in tech and e-commerce, but Basket is something I would 100% use myself. It genuinely helps the consumer and I think it’s got application in the UK and globally.”
James Watt on Mous: “An upstart UK company trying to have an impact on a global scale to take on absolute giants. They’ve done fantastically well so far and have got a great team focused on R&D and innovation.”
James Watt on Tallow & Ash: “Their mission is to shake up a stuffy sector, where all the incumbents have been doing the same thing for decades. It reminds me so much of our mission to shake-up beer, when we set out in 2007.”
James Watt on Uncouth: “Skin issues affect so many people’s mental health on a daily basis. I suffered from severe acne when I was a teenager, so I feel the pain point here. Their brand is fantastic, their mission is great, and this is a business that is going to help a lot of people.”
James Watt on Yum Bug: “The food scene is going to change dramatically, and I think Yum Bug can shake it up and produce more sustainable ways to get the protein that we all need. Once you get over the fact that you’re eating bugs, it’s surprisingly delicious.”
The competition also allows members of the public to invest in the five chosen businesses via Crowdcube on exactly the same terms as Watt.
Summarising the Next Unicorn, the BrewDog chief added: “I have been so incredibly impressed by the quality of the entrants to the competition, and getting down to just five from the 750 that applied has been really tough. I want to thank Dom Joly, Codie Sanchez, Matt Cooper and Evelyn McDonald for their help selecting the eventual winners.
“What’s really exciting is members of the public can now invest in these businesses too. Each of the winning companies are available on Crowdcube, where people can invest pound-for-pound on the same terms as me. This isn’t a competition where you just sit back and watch other people make money, the public can get involved too.”
To find out more and invest in the finalists, visit: https://www.crowdcube.com/explore/the-next-unicorn-finalists
Read more:
BrewDog boss invests £1M of his own money between all finalists in next unicorn competition

A startling statistic recently surfaced from the Office for National Statistics – despite 77% of unemployed autistic people being eager to work, only 29% are currently employed.
Hopefully, this figure will improve following the Government’s recently launched Buckland review, an initiative to improve employment prospects for autistic individuals.
You might wonder, ‘Why should this matter to me as a business owner?’. It matters because you could be missing out on a wealth of untapped talent.
Top-tier employers like EY, JP Morgan Chase, SAP, and Autotrader have long recognised and reaped the benefits that neurodiverse employees bring to their teams. For instance, an internal analysis by JP Morgan Chase highlighted their autistic employees’ output was equal in quality but 48% more productive than their neurotypical counterparts.
Understanding the Buckland Review
Sir Robert Buckland is leading the review with support from the Department for Work and Pensions and Autistica, a renowned charity. His recommendations are expected in September 2023, and the review will examine the following:

Ways to identify and support current autistic employees;
Techniques to prepare autistic individuals to join or return to work;
How to adapt work practices and initiatives to reduce stigma and boost the productivity of autistic employees.

What does this mean for you, the employer?
You are not just an observer in this process. The review encourages employers to re-evaluate their workplaces, identify potential barriers, and innovate their ways of working. The potential benefits are enormous:

Autistic individuals get a supportive platform to flourish and reach their potential;
Employers gain a competitive edge by benefitting from autistic individuals’ strengths and perspectives;
Collectively, we boost the economy.

Navigating Autism and the Law
Autism is a spectrum condition affecting each individual differently. The condition is lifelong, and if it “has a substantial and long-term adverse effect” on an individual’s “ability to carry out normal day-to-day activities”, it will amount to a disability under the Equality Act 2010. Accordingly, employers must make reasonable adjustments where they know (or could reasonably be expected to know) that the individual has a disability and is likely to be placed at a substantial disadvantage compared to others who do not have a disability.
Empowering Autistic Employees: A Practical Approach
The path to inclusivity begins at the recruitment stage. Here are some simple steps you could take:

Write clear, simple job descriptions with the necessary skills specified and consider using images;
Engage with candidates pre-interview, offering necessary adjustments;
Consider alternative interview formats like practical tasks or work trials;
Be flexible with interview environments – offer online interviews, and provide quiet spaces;
Ask questions sequentially during interviews to prevent information overload.

Support doesn’t stop at recruitment. During employment, engaging in regular dialogue with autistic employees and providing necessary training to neurotypical colleagues can foster a healthy and inclusive work environment.
For example, while hot-desking is a modern trend, it might unsettle an autistic individual. So be prepared to offer alternatives like allocated desks and consider developing a neurodiversity policy.
We eagerly await the results of the Buckland review, but in the meantime, these are tangible steps you can implement to support neurodiverse employees and boost your business.
Seek Support: We’re in This Together
To ease your journey, numerous support networks are available to help employers, such as the National Autistic Society and Autistica. They offer invaluable guidance on best working practices and can advise on becoming a more inclusive employer.
Remember, by embracing neurodiversity, you’re not just creating employment opportunities but opening your business to untapped potential and creativity.
Read more:
Unleashing Potential: Improving the employment prospects of autistic people

The UK’s dominant services sector continued its growth streak last month as consumers kept spending on leisure and technology.
Survey data from services companies, known as the purchasing managers’ index (PMI), hit 55.2 in May, down a little from April’s 12-month peak of 55.9 but up slightly from an initial estimate of 55.1 and well above the 50 mark that indicates growth in the sector.
Britain’s services industry, which accounts for almost three quarters of the economy, has motored along despite fears of a broad economic slowdown caused by high inflation and rising borrowing costs. The UK economy is not expected to fall into recession this year but will post only modest rates of growth until 2024.
Business surveys have shown an increasing divergence between different parts of the economy this year, with manufacturing suffering from a prolonged downturn while the service-based industries have benefited from consumers spending more on leisure, travel and tourism after the pandemic.
The survey of purchasing managers found that inflation in the sector rose to the highest since February as companies were facing higher operating costs as a result of rising wages for employees. This in turn led to businesses increasing the cost of their services, a phenomenon which threatens to keep inflation persistently high.
Inflation has already failed to come down in line with expectations this year, partly as a result of companies’ pricing power and still strong wage growth for workers, who want compensation for high inflation. The survey also found that some consumers were pushing back against rising prices by taking their business elsewhere.
Tim Moore, economics director at S&P Global Market Intelligence, which helps to compile the PMI survey, said: “Higher salary payments more than offset lower fuel costs, which meant that overall input price inflation edged up to its strongest for three months in May.”
In signs that the strong labour market may be slowing down, the rate of new jobs in the services industry slowed again last month, despite some businesses still complaining of labour shortages.
The sector was also boosted by strong inbound tourism in the UK at the start of summer and exports strengthened on the back of better economic prospects in the US and Europe. About half of businesses said they expected their activity to grow over the coming year.
John Glen, chief economist at the Chartered Institute of Procurement and Supply, said that rising consumer spending “seemed to be at odds with the continuing cost of living crisis”.
“The service sector was running in the opposite direction to the declining manufacturing sector in the UK, powering ahead with another strong rise in new orders including work from overseas and rising tourist numbers. Optimism was high, with half of all respondents predicting a strong year ahead, keeping positivity close to April’s recent peak,” Glen said.
Equivalent PMI data from the eurozone fell to a three-month low in May, as the continent’s manufacturers dragged down growth with the worst performance since the end of last year. The services sector closely matched the UK, with output at 55.1 in the single currency area, down from 56.2 in April.
In China, the world’s second largest economy, the service sector had its best performance since November 2020 as the country benefits from the end of stringent lockdown measures.
Mirroring the pattern seen in other countries, Chinese consumers are switching their spending from goods to services, helping to boost services even as other industries continue to falter. China’s Caixin measure of PMI in services was up to 57.1 last month, from 56.4 in April.
Read more:
Services sector basks in the warmth of leisure spending

British Airways (BA) has revealed all its staff who are paid in the UK have been caught up in a cyber incident that has exposed personal data including bank and contact details to hackers.
It emerged last week that a so-called zero-day vulnerability – a flaw – in the file transfer system MOVEit, produced by Progress Software, had been exploited by cyber criminals.
It had allowed the hackers to access information on a range of global companies using MOVEit Transfer.
Thousands of firms are understood to be affected.
UK-based payroll provider Zellis confirmed on Monday that eight of its clients were among them.
It did not name the organisations.
BA, however, confirmed it had been caught up in the affair.
The airline employs 34,000 people in the UK.
Boots said it had been affected too.
The compromised information includes contact details, national insurance numbers and bank details.
A BA Spokesman said: “We have been informed that we are one of the companies impacted by Zellis’ cybersecurity incident which occurred via one of their third-party suppliers called MOVEit.
“Zellis provides payroll support services to hundreds of companies in the UK, of which we are one.
“This incident happened because of a new and previously unknown vulnerability in a widely used MOVEit file transfer tool. We have notified those colleagues whose personal information has been compromised to provide support and advice.”
A Boots spokesperson said: “A global data vulnerability, which affected a third-party software used by one of our payroll providers, included some of our team members’ personal details.
“Our provider assured us that immediate steps were taken to disable the server, and as a priority we have made our team members aware.”
Zellis said in its own statement: “A large number of companies around the world have been affected by a zero-day vulnerability in Progress Software’s MOVEit Transfer product.
“We can confirm that a small number of our customers have been impacted by this global issue and we are actively working to support them.
“All Zellis-owned software is unaffected and there are no associated incidents or compromises to any other part of our IT estate.
“Once we became aware of this incident we took immediate action, disconnecting the server that utilises MOVEit software and engaging an expert external security incident response team to assist with forensic analysis and ongoing monitoring.”
Comments by Emma Whitmore, Group Vice President, EMEA at Edgio: “Cyberattacks can happen at any time, often without warning. British Airways and Boots’ breach demonstrates that no organisation is safe from the threat cybercriminals pose and adequate security solutions are an absolute necessity in today’s climate.
“Organisations need full 360-degree visibility into all traffic across their network to detect security exploits – and they need the right solutions in place to help them respond quickly. They must be aware of their current security posture – identifying attack vectors and employing security solutions to resolve any vulnerabilities or other risks to the business. This will include understanding security best practices and the latest standards and regulations related to their online business.
“With the increase in exploits, organisations must also ensure their security solution provides the ability to make critical decisions fast to prevent any downtime. With the correct approach to cybersecurity, brands can ensure their services run smoothly.”
Read more:
BA’s UK staff and Boots hit by cyber security breach with bank details exposed

Twitter’s head of trust and safety, Ella Irwin, has resigned from her position at the social media company.
Her departure comes amid ongoing criticism regarding the platform’s approach to content moderation and struggles with advertiser retention following Elon Musk’s acquisition in October.
Irwin, who joined Twitter in June 2022 from Amazon, confirmed her resignation to various news outlets but declined to provide a reason for her decision.
She served for approximately seven months and was responsible for overseeing content moderation and combating disinformation on the platform. Irwin’s internal Slack account appeared to have been deactivated, according to sources and screenshots viewed by Fortune.
Previous Leadership Changes in Trust and Safety
Irwin’s departure marks the second resignation of a head of trust and safety since Elon Musk’s takeover. She replaced the previous head, Yoel Roth, who resigned in November after Musk acquired the company. Roth later wrote in a New York Times op-ed that he chose to leave because it was clear Musk would be unilaterally calling the shots on Twitter’s policies.
Criticism and Challenges Under Musk’s Ownership
Since Elon Musk’s acquisition, Twitter has faced criticism for its lax protections against harmful content. The platform has also struggled with technical challenges, mass layoffs, and an exodus of advertisers wary of appearing next to unsuitable content. An investor in the company recently revealed that its value had dropped by two-thirds since Musk’s takeover.
Content Moderation Controversies
Under Musk’s leadership, Twitter’s approach to content moderation has become looser and more controversial. The platform has experienced significant challenges in stemming offensive and abusive content during Irwin’s tenure. For example, despite Musk stating that fighting child sex abuse material (CSAM) was “Priority #1” for the platform, reporting from NBC News and CNBC found that illegal content was still freely circulating on the platform.
Advertiser Retention Struggles
In addition to content moderation controversies, Twitter has faced challenges in retaining advertisers. Brands have been wary of appearing next to unsuitable content, leading to a decrease in advertising revenue. In response, Musk hired Linda Yaccarino, the former NBCUniversal advertising chief, as Twitter’s new CEO to help address this issue.
Changes at Twitter Since Musk’s Acquisition
Following Elon Musk’s acquisition of Twitter, the company has undergone significant changes, including cost-cutting measures and layoffs. Many employees who worked on efforts to prevent harmful and illegal content, protect election integrity, and surface accurate information on the site were let go.
Community Notes Feature
Musk has promoted a feature called Community Notes, which allows users to add context to tweets as a way to combat misleading information on Twitter. However, the effectiveness of this feature in addressing the platform’s content moderation issues remains to be seen.
Regulatory Scrutiny
Twitter is also facing increasing scrutiny from regulators over its moderation efforts. The company withdrew from a voluntary agreement with the European Union to tackle disinformation, while stating it was committed to complying with upcoming internet rules in the EU. The EU industry chief Thierry Breton warned Twitter that it would not be able to avoid legal obligations in the EU after quitting the voluntary agreement.
Impact on Twitter’s Reputation and Market Value
Ella Irwin’s resignation, coupled with ongoing criticism and challenges, has negatively impacted Twitter’s reputation and market value. Since Musk’s takeover, the company’s value has dropped by two-thirds, according to an investor. The platform’s struggles with content moderation and advertiser retention have further exacerbated this decline.
Looking Forward: Addressing Twitter’s Challenges
With Ella Irwin’s departure and ongoing criticism of Twitter’s policies, the company faces the challenge of addressing these issues while maintaining its commitment to free speech. The hiring of Linda Yaccarino as CEO is a step towards addressing advertiser concerns, but further action will likely be necessary to regain user and advertiser trust.
Potential Changes in Content Moderation
As Twitter faces increasing scrutiny from regulators and the public, the company may need to reevaluate its approach to content moderation. This could involve implementing stricter guidelines, investing in additional personnel, or utilizing new technologies to better detect and remove harmful content.
Rebuilding Trust with Advertisers and Users
In addition to addressing content moderation concerns, Twitter must work to rebuild trust with advertisers and users. This may involve greater transparency regarding policies and decisions, as well as proactive efforts to engage with stakeholders and demonstrate a commitment to addressing their concerns.
Read more:
Twitter’s Head of Trust and Safety, Ella Irwin, Resigns Amid Controversy and Turmoil

For the second year running, the top business opportunity for SMEs is the return of clients as the economy stabilises, according to a new report.
One in five SME owners see this as a key opportunity for growth in 2023 – while 20% are looking to introduce new products or services, and 19% expect to acquire new domestic clients.
Increasing revenues through new sales channels, and sticking to new working patterns such as remote or hybrid working, complete the top five business opportunities for 2023, according to the poll of 500 SME owners.
And while a fifth of small business owners in 2022 saw the closure of competitors as something to capitalise on, this has now slid down the list, with just 12% saying the same this year.
Other priorities from 2022 that are less important now include implementing new technology to improve business efficiency.
Responding to the findings, Steven Mooney, Founder and CEO of FundMyPitch said: “Confidence is king when it comes to allowing entrepreneurs reach their full potential, so it’s good to see an uptick in optimism during uncertain times. However, far too many business founders with bright ideas and impressive products lack the financial support they need to scale-up quickly. All too often, getting a credible valuation or even being taken seriously by potential funders remains an elusive prospective, even for those entrepreneurs who have already demonstrated they are building a profitable business.”
“The time has come to get behind Britain’s SME community, unlocking investment opportunities and driving growth with the same enthusiasm we often see in many other countries around the globe,” added Mooney.
Tech expert James Campanini, CEO of VeUP said: “SMEs are the beating heart of the UK economy and it’s encouraging to see market confidence returning despite stubborn inflation and the prospect of further interest rate hikes. However, as ambitious companies continue to roll out new products and services, it’s essential that owners get a grip and improve their IT infrastructure, so they are fully fit for remote working.  Despite many companies prioritising cloud as their top investment this year, far too many SMEs are failing to manage cost optimisation, leading to inefficiencies that could hold back growth.”
Fintech entrepreneur Khalid Talukder, co-founder, DKK Partners said “Britain’s businesses play a crucial role in job creation, productivity and are a major driver of economic growth. It’s encouraging to see optimism for 2023 on the rise as businesses look to invest in new products, services as well as acquiring and expanding overseas. Key to driving SME growth is giving entrepreneurs access to international markets and the latest services to make international payments. This will unlock exponential growth and allow the next generation of companies to reach their full potential as a truly global business.”
The research comes as AXA UK launched its Start Up Angel competition, which is offering two prizes of £25,000 in funding, four £10,000 prizes for digital marketing campaigns, and mentorship with some of Britain’s best entrepreneurs.
Deepak Soni, director of SME business insurance at AXA UK, said: “Challenges provide opportunities, but it’s not always easy to capitalise on them.
“The last few years have been amongst the toughest for small businesses due to the Covid pandemic, so we’re doing our best to support and encourage those who have just set out on their journey.
“The AXA Startup Angel competition, which closes on Sunday, will provide an invaluable boost to a selection of small British startups.”
Read more:
The Road to Recovery: New Poll Shows One in Five SMEs Welcoming Back Clients and Contributing to Economic Stability