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Visa, in collaboration with the British Retail Consortium (BRC), has honoured Altrincham, Armagh, Boscombe, Northwich, Sherborne, Shrewsbury, Waltham Cross, and Weston super-Mare at the ‘Let’s Celebrate Towns’ awards.
This nationwide showcase was designed to spotlight the remarkable efforts of towns across the UK in fostering thriving local businesses and communities.
The initiative builds on the success of 2023, during which winning towns invested in diverse community projects, ranging from historical tourism in Annan to cultural events in Pontypridd. By recognising these towns, the initiative aims to highlight the unique qualities that make each town special while promoting the adoption of best practices for business-led growth nationwide.
Following a rigorous selection process from a shortlist of 32 towns, these eight winners were judged across four key categories identified by Visa’s ‘Towns Vitality Roadmap’: Business Environment, People & Skills, Infrastructure, and Sustainability. Each town will receive £15,000 in direct investment towards a local community project or initiative, along with a tailored support programme for local businesses.
Mandy Lamb, Managing Director UK & Ireland at Visa, expressed enthusiasm about the initiative’s impact, stating, “At Visa, we’re committed to uplifting economies so that everyone in the local communities they serve can benefit. This initiative places towns at the forefront of our efforts and supports Visa’s aim of nurturing growth and prosperity at a local level.”
Helen Dickinson, CEO of the British Retail Consortium, echoed Lamb’s sentiments, highlighting the significance of celebrating the diversity and contributions of UK towns. She remarked, “Following its success in 2023, it is exciting to hear more examples of how areas are helping to support high streets and communities, so that best practice can be spread more widely across the country.”
Visa’s Let’s Celebrate Towns initiative marks its second year of celebrating and recognising the invaluable contributions of local communities and economies across Britain. This initiative aligns with Visa’s broader commitment to digitally empower eight million small businesses across Europe, reinforcing its dedication to fostering economic development and prosperity at the grassroots level.
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“Let’s Celebrate Towns”: Visa Honours Eight UK Towns for their Contribution to Business and Community Prosperity

In an era where sustainability has become paramount, businesses that champion eco-friendly practices are rising to the forefront. Shamanth Pereira, the founder of Something Co, is on a mission to facilitate a zero-waste lifestyle without burden or guilt.
With a unique approach encapsulated in their 4S Method—Source Sustainably, Transport Sustainably, Dispose Sustainably, and Offset remaining Sustainably—Something Co is reshaping consumer habits towards a more conscientious future.
Pereira recognises the pervasive desire among consumers for guilt-free consumption, particularly when it comes to disposing of products. Through Something Co, he aims to alleviate this concern by providing accessible, sustainable alternatives without the accompanying overwhelm. “People want to make a difference,” Pereira notes, “but often lack the guidance on where to start.”
For Pereira, the impetus to start Something Co stemmed from a dual passion: intellectual curiosity and a deep-rooted commitment to sustainability. As a mother of three, Pereira grappled with the challenge of reconciling everyday essentials with environmental consciousness. Thus, Something Co emerged as a solution—a platform where transparency meets practicality, offering thoroughly vetted sustainable products.
Central to Something Co’s ethos are their brand values, which embody a blend of encouragement, energy, and a commitment to impact without self-aggrandizement. Pereira emphasizes the importance of these values in guiding decision-making processes, ensuring alignment with the company’s overarching mission.
Regarding team culture, Pereira underscores its significance, particularly in the startup landscape. Recognizing the dedication of his team, he ensures they feel valued through various initiatives, including product benefits and upskilling opportunities.
In navigating the complexities of messaging, Pereira acknowledges the evolving nature of communication strategies, especially as Something Co expands its product lines. The goal remains clear: to engage consumers directly and transparently.
Addressing economic challenges such as inflation and interest rates, Pereira remains committed to rewarding customer loyalty, prioritizing competitive pricing over passing costs onto consumers. He elucidates the various factors contributing to inflation, highlighting the interconnectedness of global events and their impact on business operations.
Data-driven decision-making is fundamental to Something Co’s strategy, with regular assessments guiding their approach. Technology plays an indispensable role in the company’s day-to-day operations, enhancing efficiency across various functions.
In a competitive landscape, Pereira adopts a collaborative stance towards competitors, viewing the market as expansive enough to accommodate multiple players. His advice to aspiring entrepreneurs echoes this optimism: “Just do it,” he asserts, emphasizing the importance of research, problem-solving, and action.
Amidst the demands of entrepreneurship, Pereira prioritizes self-care, incorporating meditation, exercise, and intermittent fasting into his routine. He subscribes to shorter-term goal setting, finding it conducive to productivity and progress.
Looking ahead, Something Co aims to secure investment for further expansion, leverage social channels for broader outreach, and enhance their eco-friendly product offerings. With a steadfast commitment to sustainability, Pereira envisions a future where positive change is achieved, one person at a time.
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Secrets of Success: Shamanth Pereira, Founder of Something Co 

In light of ongoing job instability, recent UK data indicates a significant inclination among 16-26 year olds towards freelance, self-employed, or side hustle careers over traditional full-time employment.
A study conducted in late January 2024 surveyed 3,016 individuals within this age group, revealing that nearly seven in ten are contemplating or have already embarked on such career paths. Of those considering freelancing or self-employment, a majority plan to transition within the next year, with a notable proportion intending to do so within the next two months. With a significant portion of respondents already engaged in full or part-time employment, a notable shift away from traditional employment models is apparent. Moreover, a quarter are currently students, indicating a propensity to enter the workforce as self-employed or freelancers, diverging from conventional career trajectories.
The research, conducted by Fiverr, sheds light on Generation Z’s motivations for pursuing self-made careers, ranging from skill development to autonomy in decision-making. However, underlying these motivations is a desire to regain control in an unpredictable and rapidly evolving job landscape. Key reasons cited for veering away from full-time employment include a perceived lower risk of layoffs or replacement by AI, stability associated with self-employed and freelance careers, and a perception of diminished loyalty from UK companies towards employees.
The study underscores Generation Z’s concerted efforts to reclaim agency over their careers, particularly in response to layoffs, flexibility demands, and the integration of AI in the corporate sphere. Significantly, a majority of those considering freelance or self-employed careers report increased contemplation compared to the previous year. While familiar factors such as flexible working hours and autonomy remain crucial, concerns about the cost of living and fears of job loss have emerged as prominent drivers in 2024.
Gali Arnon, Chief Business Officer at Fiverr, reflects on the motivations driving Generation Z’s career choices amidst current challenges, stating, “Facing unprecedented hurdles, including a global pandemic and rapid technological advancements, Gen Z workers are gravitating towards freelancing and self-employment for the stability needed to pursue their career aspirations. These paths not only offer autonomy but also empower Gen Z to navigate their professional journeys on their own terms.”
Additional insights from the data reveal a nuanced perspective on remote work among Generation Z, with considerations about the importance of flexible working hours outweighing the influence of remote working policies. Moreover, there is a division regarding the necessity of a university degree, with a significant portion viewing alternative paths, such as apprenticeships, as equally viable.
Ultimately, comfort and financial security emerge as paramount aspirations for Generation Z, with a considerable proportion prioritizing financial stability and aspiring to early retirement. A significant portion harbors ambitions of entrepreneurship, while a substantial portion desires work flexibility and the ability to travel for work.
The findings underscore a dynamic shift in career preferences among Generation Z, reflective of their adaptability and response to evolving job market dynamics.
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New Data Reveals Generation Z’s Shifting Career Landscape Towards Freelancing and Self-Employment

The UK economy demonstrated signs of improvement in January, raising optimism for a potential exit from recession.
Official figures reveal a 0.2% growth, buoyed by increased consumer spending both in retail outlets and online, alongside heightened construction activity. The Office for National Statistics (ONS) highlighted the services sector as the primary driver of this uptick.
Although this data provides an early estimate, it offers insight into the UK’s economic trajectory following its entry into recession at the close of 2023.
The January figures align with economists’ expectations and suggest a possible turning point for the economy after its recent downturn.
Within the services sector, encompassing activities like hospitality and retail, a 0.2% growth was observed. Notably, robust performance in retail, including department stores and household goods, contributed significantly to this expansion. The surge in retail activity was attributed to January sales promotions, which enticed consumers to increase spending.
Despite these positive indicators, some sectors continue to face challenges. For instance, the production sector, which encompasses manufacturing, experienced a 0.2% decline over the three months leading up to January. Additionally, falls in TV and film production, legal services, and pharmaceuticals tempered overall growth.
Furthermore, external factors such as ongoing industrial action in the NHS and the rail industry, coupled with residual effects of the Screen Actors Guild strikes in the US, dampened economic momentum.
While these complexities pose challenges, the latest data suggests a nuanced economic landscape. Liz McKeown from the ONS noted a mixed outlook among businesses, with some reporting optimism for future turnover.
Looking ahead, economists remain cautious, citing potential impacts of adverse weather conditions and persistent labour shortages. Additionally, the lingering effects of higher interest rates and supply chain disruptions pose ongoing risks to economic recovery.
Despite these challenges, there are indications of resilience within the economy, with a notable portion of surveyed firms expressing optimism for future growth.
As policymakers navigate this complex economic landscape, continued monitoring and adaptive strategies will be essential to sustain momentum and facilitate a robust recovery.
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UK economy shows signs of recovery in January

Metro Bank has announced plans to slash 1,000 jobs and discontinue its iconic seven-day branch model, as part of an extensive cost-saving initiative, following a significant expansion of its cost-cutting strategy post-autumn rescue deal.
The bank revealed on Wednesday that it has enlarged its original £30 million cost-saving plan, initially announced in October, to £50 million. This increase comes after surpassing its target of axing around 200 more staff and now aims to achieve an additional £30 million in cost reductions by year-end, bringing the total savings to £80 million.
Daniel Frumkin, the CEO of Metro Bank, indicated that the bank is contemplating further job cuts, having already streamlined costs by £44 million through a workforce reduction of 22%. Additionally, Metro Bank will be scaling back its seven-day branch opening model across its 76 branches starting April. This includes the cessation of Sunday operations, reduction of daily hours in some branches, and transitioning some to five-day-a-week opening.
Frumkin stated, “Based on our analysis, we will still maintain longer opening hours than our competitors on the high street, aligning them with actual customer activity.”
These extensive changes come on the heels of Metro Bank securing a £925 million rescue package in October, which involved substantial investment from Colombian billionaire Jaime Gilinski Bacal. This rescue package helped Metro Bank avert potential breakup or takeover amid regulatory challenges.
Benjamin Toms, an analyst at RBC Capital Markets, emphasised the significance of execution in Metro Bank’s restructuring efforts, noting that the refinancing package has provided management with valuable time to reshape the bank.
Metro Bank reported a pre-tax profit of £30.5 million for 2023, marking its first statutory pre-tax profit since 2018, a notable turnaround from the £70.7 million loss reported a year earlier.
While Metro Bank refrained from disclosing specific figures regarding customer withdrawals during the autumn crisis, the bank embarked on a campaign to attract fresh deposits, offering competitive savings rates. However, the success of this campaign resulted in unexpected costs, prompting Metro Bank to aim for a reduction in its deposit base in 2024.
Despite the positive financial results, Metro Bank executives acknowledged the challenges ahead, anticipating economic headwinds and increased competition among lenders, which could impact revenue and profitability.
Nevertheless, Metro Bank remains committed to its strategy of focusing on lending to businesses, particularly SMEs, which it views as a growth opportunity. Frumkin highlighted the bank’s agility in adapting to changing priorities, exemplified by a significant increase in business loans approved in the early part of the year.
Metro Bank intends to continue expanding its branch network, particularly in SME-centric locations, underscoring its commitment to being a leading community bank.
Following the announcement, Metro Bank shares experienced slight fluctuations, initially rising before trading lower by mid-morning.
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Metro Bank to Cut 1,000 Jobs and cancels seven day branch openings

The US House of Representatives overwhelmingly approved a bill on Wednesday that compels ByteDance, the owner of TikTok, to sell the popular social media platform or face a complete ban in the United States.
In a decisive vote, 352 members of Congress voted in favor of the bill, with only 65 opposing it. The legislation, which was swiftly moved to a vote after unanimous approval by a committee last week, grants China-based ByteDance a 165-day window to divest from TikTok. Failure to comply would result in app stores such as the Apple App Store and Google Play legally prohibited from hosting TikTok or providing web hosting services to ByteDance-controlled applications.
The House vote represents a significant threat to TikTok amid ongoing concerns over potential data collection and political censorship by the China-based company. Despite TikTok’s assurances that it does not share US user data with the Chinese government, previous attempts by the Trump administration to ban the app in 2020 and a state-level ban passed in Montana in 2023 have underscored these concerns. However, courts overturned these bans on grounds of first amendment violations, and Trump has since reversed his stance on the matter.
In March 2023, the Committee on Foreign Investment in the United States (CFIUS) urged ByteDance to sell its TikTok shares or face a potential ban, though no action has been taken thus far.
The bill’s fate in the Senate is less certain, with some Senate Democrats expressing reservations about potential freedom of speech implications and suggesting alternative measures to address concerns of foreign influence in social media. However, the White House has expressed support for the legislation, emphasizing the administration’s desire to see the bill enacted.
While proponents of the bill argue that it does not constitute a ban as it provides ByteDance with an opportunity to sell TikTok and avoid being blocked in the US, TikTok has vehemently opposed the legislation, stating that a sale is not guaranteed within the six-month timeframe stipulated by the bill.
Following the committee’s approval of the bill, TikTok supporters flooded Congress with phone calls, prompting complaints from staffers. TikTok defended its users’ engagement in the democratic process, asserting that it is their right to express their opinions to elected representatives.
While the bill primarily targets TikTok, its potential implications extend to other China-owned platforms, such as the US operations of Tencent’s WeChat. Representative Mike Gallagher emphasized that the bill’s scope could be subject to further debate regarding its applicability to other companies.
In the midst of heightened scrutiny over foreign-owned social media platforms, the bill signals a significant development in US efforts to address national security concerns and regulate the digital landscape.
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US House Passes Bill Targeting TikTok Ownership

Chancellor Jeremy Hunt’s proposed reforms, outlined in the Spring Budget, signal a potential surge in pension fund investment, particularly in UK-listed equities.
The focus on compelling pension funds to disclose the geographical breakdown of their assets aims to address the industry’s reluctance to support domestic companies. With the Treasury’s plan to require defined-contribution pension funds to disclose this information publicly, there is anticipation that this mandate could significantly increase investment in London-listed equities.
Broker Panmure Gordon suggests that this measure could have a greater impact than the proposed British ISA, which allows tax-free investment in UK assets. While the British ISA is expected to bring in £1-2 billion of inflows, the market has seen £13.5 billion of net outflows in the past year. Rudy Khaitan, Managing Partner of Senior Capital, emphasizes the importance of diversifying pension funds’ investments and reducing risks through alternative schemes such as fixed income allocations.
The proposed reforms also aim to reinstate previous income thresholds for high net-worth individuals to boost entrepreneurship and primarily target defined contribution schemes for greater disclosure of British investments by 2027. Khaitan suggests pooling different schemes together, with private equity funds helping to mitigate risks through alternative asset allocations, such as residential mortgage-backed securities (RMBS).
The UK equity release market has seen significant growth in recent years, with record activity driven by consumers feeling the financial impacts of inflationary pressures and rising interest rates. Equity release products are emerging as a vital lifeline for cash-strapped individuals, particularly in later life, offering financial stability amidst the cost-of-living crisis.
Khaitan emphasizes the potential benefits of equity release products for pension funds, highlighting their ability to cover liabilities and provide attractive risk-adjusted yields. With the average UK pension pot standing at £107,300, according to the Office of National Statistics (ONS), there has been a significant increase in people turning to equity release, indicating its importance in bolstering retirement incomes.
In summary, the proposed reforms present opportunities for pension funds to enhance returns and support economic growth. By diversifying investments and exploring alternative asset allocations such as equity release products, pension funds can align with their long-term objectives and navigate the evolving financial landscape more effectively.
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Chancellor’s Spring Budget Sparks Potential Surge in Pension Fund Investment

The surge in entrepreneurship among individuals aged 50 and above post-pandemic has led to a significant milestone for Start Up Loans, a part of the British Business Bank.
Since its inception in 2012, Start Up Loans has provided over £140 million in loans to entrepreneurs aged 50 and above, supporting a total of 13,422 loans, with an average value of £10,427.
During the Covid-19 pandemic, almost half of this funding (£64 million) was delivered, with 4,664 loans issued since April 2020, amounting to £63,928,454 in value. Interestingly, the average loan value per business during this period increased by over £2,600 compared to the four-year period before the pandemic, now standing at £13,707.
In the fiscal year running from April 2023 to March 2024, Start Up Loans provided over £13 million in loans to individuals aged 50 and above, contributing significantly to national efforts aimed at stimulating economic growth and encouraging this demographic back into the workforce.
The financing provided by Start Up Loans has largely benefited businesses outside of London, with 85% of the loan value deployed outside the capital. Particularly, the North West region received the most financing outside of London and the South East, amounting to £16 million.
Eduardo Barreto, founder of Boy Next Door Productions, is one of the entrepreneurs aged 50 and above who benefited from Start Up Loans. His production company received a £10,000 loan, enabling him to produce successful shows at The Arcola Theatre. Barreto emphasized the importance of both the loan and the mentorship provided by Start Up Loans in helping him achieve his business goals.
Richard Bearman, Managing Director of Small Business Lending at Start Up Loans, highlighted the program’s commitment to supporting entrepreneurs of all ages, emphasizing that individuals can pursue their business ambitions at any stage of life. Start Up Loans offers loans of up to £25,000 at a fixed interest rate of 6% per annum, along with 12 months of free business mentoring.
Overall, Start Up Loans’ milestone underscores the growing trend of entrepreneurship among older individuals and the program’s role in facilitating their business ventures, contributing to economic growth and innovation.
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Huge boom in over 50 year old entrepreneurs with Start Up Loans providing over £140m of finance to fulfil start up dream

The Environment Audit Committee has raised concerns about the UK government’s progress in tackling electronic waste (e-waste), highlighting that little headway has been made since its report in November 2020.
The committee’s chairman, Philip Dunne, expressed disappointment over the government’s response to their recommendations, stating that while some measures were accepted, they have not been fully implemented.
According to the committee’s report, each UK household holds an average of 20 unused electronic items, indicating the magnitude of the e-waste issue. Incorrect disposal of e-waste can lead to environmental contamination due to the leakage of toxic chemicals. Additionally, the recycling of electronic devices is crucial for recovering precious metals necessary for renewable energy infrastructure, aligning with the goal of achieving a net-zero economy.
Despite the government’s claims of taking action to address e-waste, the committee noted that many of their recommendations have not been incorporated into policy or reflected in ongoing consultations. The scope of the government’s consultation on e-waste was deemed too narrow by the committee, as it did not encompass several key recommendations, such as holding online marketplaces accountable for ensuring compliance with UK laws on electronic products.
The committee urged the government to expand the scope of its consultation to include a broader range of proposals aimed at transitioning the UK towards a zero-waste economy. Some of these proposals include holding producers accountable for the collection and treatment of end-of-life electronics, mandating free collection services for bulky electronics, and requiring electronic goods to provide information on their expected lifetime and software update support.
In summary, while the UK government has taken some steps to address e-waste, the Environment Audit Committee stresses the need for more comprehensive measures and greater implementation of their recommendations to effectively tackle the growing e-waste crisis.
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The government has made little progress on tackling UK’s e-waste nightmare