Month: November 2024

Luxury fashion brand Mulberry has announced a significant restructuring plan after reporting a 19% drop in group revenues to £56.1 million for the six months ending 28 September.
Newly appointed CEO Andrea Baldo revealed that 85 roles—approximately a quarter of the company’s 350-strong workforce—have been cut as part of efforts to “rebuild the business” amid challenging market conditions.
The job cuts predominantly affect staff at Mulberry’s London design headquarters and some office workers in Somerset. The company cited a “difficult trading environment and uncertain macroeconomic trends” impacting sales, with revenues from its wholesale and franchise business plummeting by 46% to £5.4 million due to reduced orders from partners in Italy and Denmark.
UK revenues also declined by 14% to £31.3 million, attributed to “low consumer confidence“. Pre-tax losses widened to £15.7 million for the period, compared with a £12.8 million loss a year earlier.
Mulberry is among several luxury retailers hit hard by a global decrease in luxury spending. The company’s restructuring comes a month after Mike Ashley’s Frasers Group—holding a 37% stake in Mulberry—abandoned plans for a £111 million takeover bid.
In a statement to shareholders, Baldo acknowledged the significant challenges facing the industry: “There is no question that our industry is facing a period of significant uncertainty, driven by a challenging and volatile macroeconomic environment that is impacting consumer confidence in several markets, particularly in our home country.”
Despite the setbacks, Baldo expressed confidence in the company’s future: “With the teams’ efforts on cost-cutting, a strengthened balance sheet, a renewed brand-first approach and a refreshed business strategy—details of which I’ll share in due course—I am confident we are making the right moves to bring Mulberry back to profitability.”
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Mulberry cuts 85 jobs as sales fall 19% amid global luxury downturn

The Governor of the Bank of England, Andrew Bailey, has cautioned that the recent increase in employers’ National Insurance contributions could create uncertainty over future interest rate cuts.
Addressing MPs on the Treasury Select Committee, Bailey noted that while inflation has been falling faster than anticipated—prompting the Monetary Policy Committee (MPC) to reduce interest rates to 4.75% earlier this month—the hike in employer taxes announced in last month’s Budget represents “one of the biggest uncertainties ahead”.
Bailey explained that if higher employment costs lead to job cuts, it could soften the labour market, necessitating a more gradual approach to lowering interest rates. “There are different ways in which the increase in employers’ National Insurance contributions announced in the Autumn Budget could play out in the economy,” he said. “A gradual approach to removing monetary policy restraint will help us to observe how this plays out, along with other risks to the inflation outlook.”
His comments come amid mounting concern from the business community. Over 70 major retailers—including Tesco, Marks & Spencer, Sainsbury’s, Asda, and Next—have written to Chancellor Rachel Reeves, warning that the “sheer scale” of new costs will make job losses “inevitable”. Economists predict that up to 100,000 jobs could be lost over the next five years due to the increased financial burden on businesses.
Bailey also highlighted that inflation within the UK’s services sector remains excessively high and is “incompatible” with the Bank’s target of bringing overall inflation back to 2%. Official figures due to be released tomorrow are expected to show a rise in the Consumer Price Index (CPI) to 2.1% in October, driven by increasing household energy bills.
Market traders are now adjusting their expectations, with many not anticipating another reduction in interest rates until early next year.
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Bailey warns employer tax hikes may delay interest rate cuts

Trust is an invaluable asset in business. It is the foundation upon which relationships are built, and it significantly influences customers’ decisions about whether or not to engage with your company.
In an era where businesses face ever-increasing competition, trust is not just a nice-to-have; it is essential for growth and visibility. Google’s evolving algorithms now factor trustworthiness as a core element in its ranking criteria, making it crucial for businesses to understand how to foster meaningful connections with customers and prospects alike. Building trust involves strategically positioning your company to showcase its credibility. This is where trust signals come into play.
How to build trust signals
A trust signal is any piece of evidence that reassures prospective customers of your reliability. These signals act as indicators that reassure your audience that your business is reliable and professional. These signals could be a variety of things, a positive review, an industry award, or a high-quality backlink from a respected website, trust signals serve as proof points that build confidence and help customers feel more comfortable about choosing your business over competitors.

Trust signals can be particularly effective when displayed on your website or included in your communications efforts. A genuine positive review from a client on your social media can be a fantastic trust signal. Trust signals can inform different sections of a business growth strategy, including inbound marketing, outbound marketing and your website.
Become trusted by Google
The rise of E-E-A-T (Experience, Expertise, Authoritativeness, and Trustworthiness) has meant that businesses must go beyond basic SEO practices. Google’s search algorithm now rewards content that offers an authentic, helpful experience, positioning those who follow these principles higher in search rankings. Websites that fill their pages with low-value content, stuffed with keywords and designed merely to rank, will find themselves penalised. On the other hand, if your business consistently provides high-quality, useful content tailored to your audience’s needs, it will be recognised by search engines, enhancing your rankings and, importantly, your credibility.
The role of the media in gaining third-party trust signals
Public relations (PR) is another crucial aspect of building trust signals. Through strategic PR efforts, businesses can secure positive media coverage that enhances their credibility. Mentions in respected publications or websites add legitimacy to your business and serve as a strong signal to both customers and search engines. Being associated with reputable outlets or receiving awards from established industry bodies can drastically improve how your company is perceived.
Be a Thoughtful Leader
Transparency plays a pivotal role in building trust and customers are increasingly scrutinising businesses not only based on their offerings but also on their ethical standards and business practices. Becoming a Thoughtful Leader is about taking an outward-in approach by focusing on what is needed in the world and looking at how your business can be a force for positive change. Whether it’s your approach to sustainability, your treatment of employees, or the transparency of your supply chain, being open about your operations fosters trust. PR agencies can help you communicate these aspects clearly, ensuring that your audience understands your values and is more likely to trust you with their business.
Embrace customer and influencer feedback
The power of positive word-of-mouth and third-party endorsements cannot be overstated. While paid advertisements can promote your offerings, they don’t carry the same weight as independent validation. A glowing review from a customer or a favourable mention from an industry influencer is far more effective at establishing trust. Customers are more likely to trust what others say about your business than they are to trust what you say about yourself.

When it comes to customer reviews, their role as a trust signal is invaluable. Reviews serve as powerful social proof, demonstrating that your products or services have satisfied others. Case studies, too, can act as trust signals, showcasing the real-world impact your business has had on its customers. Potential clients can see the tangible benefits of working with you, making it easier for them to make the leap from consideration to conversion.
Manage your online reputation
But while reviews are crucial, businesses must also recognise the potential downside. Negative feedback, particularly on social media, can rapidly escalate if not managed carefully. Social platforms are places where customers can share their opinions publicly, for better or worse. Monitoring these channels and responding promptly to both positive and negative comments is essential for maintaining a strong, trustworthy reputation. By addressing complaints or concerns transparently and professionally, you can demonstrate your commitment to customer satisfaction and reinforce trust in your brand.

As people make their decisions with online research, the importance of online trust signals will only increase. Businesses that focus on providing valuable content, securing credible endorsements, and maintaining transparency will find themselves better positioned in the long term. Trust is not a one-time achievement; it is an ongoing effort that requires constant nurturing.
AI increases the value of human trust signals
In the future, the integration of AI and automation into customer service may challenge trust in new ways. With the rise of AI-generated content and automated systems, consumers may become more wary of what they see online. To combat this, businesses will need to emphasise the human aspect of their operations, ensuring that their brand remains genuine, relatable, and accountable. As AI continues to change the landscape of customer interactions, businesses that prioritise human connections and transparent communication will have the upper hand in building trust with their audiences.
Use trust signals to set your brand apart
Trust signals shape how your brand is perceived, both by customers and search engines, and they play a crucial role in fostering long-term relationships. By strategically incorporating trust signals into your content, PR efforts, and customer interactions, you can build a reputation for reliability and credibility that will set you apart in a competitive market. The businesses that truly understand the importance of trust and invest in it will reap the rewards of stronger customer loyalty, better rankings, and sustained growth.
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Build trust signals for your brand to unlock next-level trust and loyalty 

Killing Kittens, the UK-based sex party organiser partly backed by the government, is raising funds to fuel its global expansion and develop new ventures, including a permanent venue, cruise ship events, and a gay male-focused enterprise.
KK Group, operating under the Killing Kittens brand, is aiming to meet the growing demand for “meaningful in-person connections” as society shifts back towards social gatherings. The company plans to “scale globally and unify a premium adult market that currently lacks a true leader”.
Having previously hosted events in New York, Killing Kittens will relaunch its services in the city next year, with additional plans to introduce events in Los Angeles, Lisbon, Venice, and Paris.
Co-founder Emma Sayle is seeking to raise new capital from retail investors through a crowdfunding campaign on Seedrs, targeting a valuation of £10.5 million. The funds will support the next phase of the company’s growth strategy.
The presentation also revealed that KK Group, the Business Champion Awards growth business of the year, is in discussions for additional debt financing and has explored strategic expansion opportunities with mergers and acquisitions financiers.
The company identifies the “sex-positive space” as highly fragmented, with numerous smaller platforms like Feeld, Pure, and HUD competing for market share. Sayle confirmed the fundraising plans, expressing a desire to create “a big, open-minded ecosystem for your whole adult life”.
Killing Kittens has already launched a dating app called Wax, reportedly used by “hundreds of thousands” of people as a social media platform. KK Group estimates the niche “sexscape” segment of the dating market to be worth around $345 million.
With over 250,000 members and more than 12,000 annual event attendees, the company currently generates almost 90% of its revenue from the UK. This domestic focus has spurred new ambitions for global expansion.
Founded in 2005, Killing Kittens is venturing into cruise ship events, with its inaugural voyage planned for 2026. The cruise has already generated £350,000 in room revenues within the first eight weeks of sales.
The group is also seeking its first dedicated venue in London to host events, aiming to reduce costs and create new revenue streams. Additionally, it has recently launched KK Homme, a venture catering to gay and bisexual men.
The investor presentation highlighted that KK Group is “a prime acquisition target for larger companies looking to diversify their portfolios”. The company is also considering a public listing on a smaller exchange like AIM to provide future exit opportunities for investors.
In 2022, it was revealed that Killing Kittens became part-owned by the UK government through the Future Fund—a scheme designed to support fast-growing, tech-focused British start-ups during the pandemic. The Future Fund still holds approximately a 1.5% stake in the company.
The Future Fund has had mixed outcomes, with 286 of the 1,192 backed businesses declared insolvent as of 30 September 2024, resulting in a £241 million loss for the government. However, it has also generated £76 million from 74 corporate exits.
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Killing Kittens seeks £10.5m valuation for global expansion of sex party events

Employers are preparing to relocate tens of thousands of British jobs overseas in response to Chancellor Rachel Reeves’s recent Budget, leading recruitment experts have warned.
James Reed, chief executive of recruitment giant Reed, revealed that companies are exploring shifting roles to lower-cost countries like India to offset the increased expenses resulting from the “triple whammy” of higher employer National Insurance contributions, a rise in the National Living Wage, and the introduction of stronger union and workers’ rights. Government analysis suggests these new workers’ rights could cost businesses nearly £5 billion annually.
Neil Carberry, chief executive of the Recruitment and Employment Confederation, echoed these concerns, stating that he has been in discussions with business leaders contemplating offshoring jobs following the Budget announcements. “I have talked to many larger firms where the question has been about offshoring,” he said.
These developments have intensified worries about the Budget’s potential impact on the UK economy. Despite the Chancellor’s emphasis on growth, business leaders and economists caution that the measures could hinder investment, job creation, and wage growth while exacerbating inflation.
Deutsche Bank issued a note to City clients warning that the Budget could result in the loss of 100,000 jobs, both through redundancies and uncreated positions that might have otherwise materialised.
Mr Reed noted that offshoring is becoming a more attractive option for companies facing rising costs. “It’s something that people have on their list of possible things to do, and that has just moved up the agenda because the cost of hiring has gone up,” he explained. He added that while companies may not publicly announce such moves, they “will just quietly happen by stealth.”
He cited an example of a white-collar recruiter planning to move 27 UK jobs to India due to the increased National Insurance burden. “It will certainly be thousands [of jobs]. I think it could be tens of thousands because there are a lot of business services that have that as an option,” Mr Reed estimated.
Sectors most likely to be affected include professional services such as accounting, finance, recruitment, and human resources. “With everything connected digitally now, for services businesses, you can move jobs almost as fast as you can move money,” he said.
The National Insurance increase, set to take effect from April, will raise the rate from 13.8% to 15% and lower the salary threshold at which employers start paying the tax. This change coincides with a higher-than-expected 6.7% rise in the National Living Wage and additional costs from Labour’s Employment Rights Bill.
Industries such as logistics, hospitality, retail, and small manufacturing are expected to be hardest hit by these tax changes. Mr Carberry commented: “In these sectors, automation, offshoring where possible, lower pay rises for those not on the national minimum wage, and higher prices will be used [to offset the impact].”
The offshoring trend raises concerns about rising youth unemployment, which has increased from 12.1% last year to 14.8% among 16 to 24-year-olds. Mr Reed expressed worry about diminishing opportunities for young people entering the workforce.
Despite facing increased costs estimated at millions of pounds for his own company, Mr Reed stated his commitment to keeping jobs in the UK. “We’re very committed to the UK; we’re a UK family business. I don’t want to offshore jobs; I want the jobs to be here,” he affirmed.
A government spokesperson defended the Budget measures, stating: “With our public services crumbling and an inherited £22 billion fiscal black hole from the previous government, we had to make difficult choices to fix the foundations of the country and restore desperately needed economic stability to allow businesses to thrive. By doing this, more than half of employers will either see a cut or no change in their National Insurance bills. There will be £22.6 billion more for the NHS, and workers’ payslips will be protected from higher tax. This government is committed to delivering economic growth by boosting investment and rebuilding Britain.”
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Reeves’s National Insurance hike prompts firms to consider moving jobs abroad

Donald Trump’s proposals to impose hefty tariffs on goods entering the United States could deliver a £20 billion blow to the British economy, analysts have warned.
The President-elect’s plan to levy a 60% tariff on Chinese products sold to American businesses, alongside a 20% tariff on all other imports, “poses challenges” for the UK government, according to the Centre for Economics and Business Research (CEBR).
The CEBR estimates that such measures, if implemented without retaliation, could reduce the UK’s gross domestic product (GDP) by 0.9% by the end of a potential Trump administration. Based on 2023 figures, this equates to a £20 billion hit to the British economy.
Meanwhile, forecasts from the National Institute of Economic and Social Research (NIESR) suggest that even a 10% tariff could cut UK economic growth by 0.7 percentage points.
The CEBR noted that the clearest way to mitigate the impact would be to secure a free-trade agreement with the US, but acknowledged that issues over food standards make this unlikely. Instead, it urged ministers to bolster the UK’s position as a leader in green technology, particularly in light of Trump’s expected rollback of Joe Biden’s flagship Inflation Reduction Act (IRA).
Economist Sara Pineros said: “The Chancellor faces a pivotal period to act on her pro-growth agenda and position the UK as a competitive destination for investment.
“Ultimately, while US tariffs and rising protectionism pose challenges, other proposals under a new Trump administration also present opportunities for the UK to adapt and thrive.
“Without strengthening its approach, the UK risks taking all the pain associated with a Trump presidency without realising the potential gain.”
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Trump’s tariff plans could cost UK economy £20bn, analysts warn

On Tuesday, I’ll be joining a Westminster protest for the first time in my life. Yes, me—a man more comfortable behind a laptop than in front of a megaphone, who once thought the height of rural activism was separating the recycling correctly. But something has stirred me into action: the plight of British farmers under proposed changes to inheritance tax.
Now, I’m not a farmer. But for five years, I lived in Little Brington, a beautiful farming village in rural Northamptonshire. It was there that I truly grasped the essence of multi-generational farming. Families whose names have been etched on the same fields for centuries, their livelihoods tied to the land like ancient roots. These families don’t just work the land—they are the land.
When I heard Rachel Reeves announce the proposed changes to inheritance tax, my first reaction was disbelief. These policies feel like they’ve been dreamt up in some Whitehall echo chamber by people who think milk comes from Tesco and wheat arrives pre-sliced. The new rules, which could force families to sell parts of their land to pay inheritance tax, don’t just threaten their livelihoods—they threaten their legacies, their histories, and, frankly, our food security.
If you’ve ever watched Clarkson’s Farm, you’ll know what I’m talking about. Jeremy Clarkson, that unlikely champion of agriculture, peeled back the pastoral curtain to reveal the grim economics of British farming. A farmer might own 400 or 500 acres of land worth £10,000 per acre, plus a farmhouse and some battered machinery totalling another couple of million. On paper, they’re millionaires. But in reality? The average British farmer scrapes by on a profit of around £75,000 in a good year. Factor in bad weather, fluctuating market prices, and skyrocketing costs, and it’s easy to see how the balance sheet ends up looking like a punchline to a bad joke.
Yet under these proposed inheritance tax changes, farmers are being treated like cash-rich oligarchs. Imagine a family that’s spent generations stewarding 500 acres of farmland, only to find that the tax bill when the patriarch or matriarch dies forces them to sell off large chunks of their estate. It’s not just a financial blow—it’s an emotional and cultural gut-punch. And it’s happening at a time when we should be doing everything in our power to protect British farming.
Because let’s be clear: farming is not just about fields and tractors. It’s about feeding a nation. British farmers already face relentless competition from cheap imports and the looming uncertainty of trade agreements. Add punitive inheritance taxes to the mix, and you’re essentially dismantling an industry that’s already hanging by a thread.
Living in Little Brington gave me a front-row seat to the quiet heroism of farming life. I remember waking up to the hum of tractors before sunrise, seeing sheep huddled against winter winds, and chatting with neighbours, who could tell you the exact day their grandfather bought the land we were standing on. Farming isn’t just a job—it’s an identity, a legacy, a calling.
But it’s also relentless, underpaid, and often thankless. Watching Clarkson’s Farm drove home the point that farming isn’t for the faint-hearted. It’s a high-risk, high-stress business where one bad season can spell disaster. And yet, these are the people who ensure that milk, meat, and veg end up on our plates. It’s a responsibility they carry with dignity, even as policymakers pile more weight onto their already bowed shoulders.
This is why I’m standing with British farmers next Tuesday. I’ll be there in my decidedly non-rural coat, probably clutching a thermos of coffee and wondering how exactly to chant without feeling like an idiot. But I’ll also be there because this isn’t just a fight for farmers—it’s a fight for all of us. A fight for the landscapes we love, the food we rely on, and the communities that make Britain what it is.
The proposed inheritance tax changes are not just bad policy—they’re a betrayal of the people who keep this country fed. We’re talking about families who work seven days a week, 365 days a year, in conditions most of us wouldn’t last a day in. And yet they’re expected to swallow the idea that the government can swoop in and take a massive chunk of their estate simply because they’ve had the audacity to die.
This isn’t about special treatment for farmers—it’s about fairness. It’s about recognising that farming is not like other businesses. You can’t liquidate a few hundred acres without fundamentally destroying the operation. You can’t put a price tag on centuries of heritage. And you certainly can’t replace British farmers with faceless conglomerates and expect the same care and commitment to the land.
Ex-Labour adviser John McTernan has suggested that what Starmer is doing to farms is ‘what Thatcher did to coal mines’.
So, yes, I’ll be at Westminster. And I won’t just be protesting the tax changes—I’ll be standing up for the farmers of Little Brington and everywhere else. For the people who rise before dawn to tend to their herds, who battle through rain and snow to harvest their crops, who live and breathe the land in a way most of us will never understand.
This isn’t just their fight—it’s ours too. Because when the farms are gone, we’ll realise too late what we’ve lost. And I, for one, refuse to let that happen without a fight.
If you’d like to join the protest on Tuesday 19th November the organisers are asking people who plan to attend to register online first so they can work with the Metropolitan Police on managing numbers and also communicate maps and itineraries.
Read more:
Why I’m Supporting British Farmers Against Ill-Thought-Out Inheritance Tax Changes

The UK housing market showed unexpected resilience in October, with estate agents reporting increased sales, rising buyer inquiries, and a brighter outlook following the Autumn Budget.
Despite pre-budget apprehension, the housing market outperformed expectations, according to the latest survey by the Royal Institution of Chartered Surveyors (Rics). Of the 269 estate agents polled, a majority reported more sales in October compared to September, driven in part by buyers seeking to complete transactions ahead of potential budget-related tax changes.
While some agents observed a slowdown in the weeks leading up to the October 30 budget, the overall sentiment was optimistic. “We have had a wave of exchanges and completions, probably prompted by a desire to exchange before the budget,” said Simon Milledge of Jackson-Stops in Blandford Forum, Dorset.
Similarly, John King from Andrew Scott Robertson in Merton, southwest London, attributed October’s surge in activity to a combination of media coverage on potential tax rises and easing mortgage rates.
Ian Perry of Perry Bishop in Cheltenham, Gloucestershire, noted: “[There was] a slight hiatus ahead of the budget but the market [is] now perking up again.”
Looking ahead, 34 per cent of estate agents anticipated selling more homes within three months, with even greater confidence about activity levels this time next year.
The survey also found a continued rise in buyer inquiries for the fourth consecutive month, alongside an increase in new listings, creating what the Rics described as a “relatively solid” near-term pipeline. Reflecting this recovery, 16 per cent of respondents believed house prices were rising, a significant shift from two months ago when prices were seen as static.
Tarrant Parsons, head of market analysis at the Rics, highlighted the momentum: “The recent improvement in buyer demand is translating into growth in the number of sales being agreed. Forward-looking sentiment points to this brighter trend continuing in the months ahead.”
However, he warned that a post-budget rise in bond yields, which influence mortgage rates, could pose challenges in the short term.
In the lettings market, tenant demand remained robust over the summer, but supply constraints intensified. A net 29 per cent of letting agents reported a decline in landlord instructions, marking the most negative reading since late 2021.
With rental homes in short supply, most agents expected rents—already at record highs—to continue climbing, further squeezing tenants in a highly competitive market.
Read more:
Housing market rebounds after budget as buyer demand surges

Today, around 99% of all businesses in the UK are classed as small and medium-sized enterprises (SMEs), employing around 61% of the private sector workforce.Yet, despite their critical role in the UK economy, many SMEs are struggling.
A recent study found the number of small businesses in the UK has dropped from 5.9 million in 2020 to 5.5 million today. Many businesses are feeling the squeeze from increased operating costs, slow revenue recovery and, crucially, the ongoing struggle to secure funding.
Addressing these funding challenges is essential to help SMEs to survive and grow, and fintech solutions are making a real impact in this space. PayPal, for example, has stepped in to address a £2.5 billion funding gap facing UK small businesses in the last 10 years through its PayPal Working Capital solution. With its agile approach, PayPal Working Capital offers SMEs a fast and flexible way to access the capital they need, based on their sales history.
 Traditional funding avenues can present roadblocks for small businesses
The UK’s traditional lending system can present challenges to smaller and newer businesses, with extensive documentation, lengthy approval times, and strict lending criteria creating barriers for SMEs. In April 2024, for example, the Treasury Committee reported that small businesses face ‘needlessly tougher’ conditions due to restrictive measures from banks and regulators, which can hold them back from securing essential funds.
The Federation of Small Businesses (FSB) has also voiced concerns over declining funding success rates. Prior to the pandemic, 65% of SMEs were able to secure funding, a figure that fell to 61% in 2023. As a result, businesses seeking reliable financing are increasingly turning to fintech options as a more accessible and adaptable alternative. In fact, according to research done by Sonovate in 2023, four in ten SMEs prefer fintech lenders over mainstream banks when seeking business finance.
 Fintech solutions provide SMEs with alternative funding options
From managing cash flow to purchasing inventory, investing in technology or upskilling staff, SMEs depend on financing to support their growth. Fortunately, fintech solutions, like PayPal Working Capital, present SMEs with alternative financing options that are easy to apply and manage.
SMEs need modern funding solutions suited to the realities of running a small business, and options such as PayPal Working Capital present an appealing alternative. Unlike traditional business loans from banks, PayPal Working Capital provides funding based on an SME’s PayPal sales history. This helps to enable businesses to borrow up to 35% of their annual PayPal sales without the need to demonstrate extensive financial forecasts. The application process is quick and straightforward, with funds available fast.
Moreover, with PayPal Working Capital small businesses choose the percentage of their PayPal sales that will go toward repaying the cash advance so it can be tailored to suit the business’ cash flow needs. Repayments are tied to daily sales, which means businesses pay more when they have high sales and less during slower periods. With a single fixed fee, business owners are freed from ongoing interest charges and have a clear view of total repayment costs, meaning no unwelcome surprises.
How can fintech solutions help your business to grow?
Since its inception in 2014, PayPal Working Capital has distributed £2.5 billion to 58,000 UK businesses across a variety of sectors. From fashion to auto-parts, these cash advances have allowed small businesses to flourish in today’s challenging economic landscape3. Nine out of 10 (91%) of these businesses have said their revenue either increased or remained steady thanks to the funding they received.
The London Candle Company is one of the businesses that has benefitted from PayPal Working Capital. A small business focused on selling high-quality, competitively priced candles in bulk to businesses in the catering and hospitality industry, The London Candle Company took advantage of PayPal Working Capital’s innovative approach to repayments.
“PayPal Working Capital has been so helpful when I’ve needed to stock up on bulk candles ahead of the busy winter months, especially because I need to pay my suppliers right away,” Founder and Managing Director, Jonathan Welland explains, “I’ve found it simple and easy to use too, as you choose the percentage of your sales that you pay towards the advance – you’ve still got cash flow coming in but you’re only losing a portion of it. And before I know it, it’s been paid.”
Small business owners across the UK, like Jonathan, are already making the most of fintech models, which are rapidly transforming the traditional lending industry. Could your business be next? Discover more information about PayPal Working Capital and empower the expansion of your business.
Any information provided is general only and does not take into account your objectives, financial situation or needs.
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How fintech financing is plugging the £2.5 billion funding gap for small businesses in the UK