Breaking News
The Great British Bounceback: research from Enterprise Nation and Starling Bank
Two-thirds of SME’s are confident of increased turnover in 2022, Enterprise Nation and Starling Bank report in new research.
Read also: Revolut announced the acquisition of the ePOS Nobly POS system
This research from Enterprise Nation and Starling Bank has brought up that while 40% of businesses are yet to bounce back, more (43%) say they are recovering and just 5% are concerned they won’t reach pre-pandemic performance.
About 810,000 new enterprises were founded in the UK between March 2020 and March 2021.
This makes it the biggest year for creation on record, according to data from Companies House.
However, the rate of business failure was high during the period, with 437,790 businesses having to shut their doors. Still, in Q1 2021 alone, 211,368 new businesses were registered with Companies House.
Majority (65%) of those surveyed predict that 2022 will be a year of strong performance.
Even with continuing labour shortages, supply chain issues and rising material costs creating a challenging business environment, only 3% of small businesses report that they aren’t resilient.
In fact, two thirds (65%) are optimistic for 2022, with the same amount confident they’ll increase their turnover.
[mc4wp_form id=”2736″]
Starling shows confidence in its own field as well. Just recently, Starling Bank has reportedly decided to buy another mortgage book for an estimated price of £1 billion.
Anne Boden, Starling CEO, has written in a foreword in Banking On It, Starling that she no longer sees fellow startups like Monzo as her chief rivals, but the UK’s largest incumbent banks.
“The extraordinary experiences of the year 2020 made it clearer than ever that our competitors are now Lloyds, Barclays et al,” she wrote.
Barclays, which she said has around a 15% share of the market, is “now firmly in our sights”.
- Cheaper, Faster… Riskier: Over Half Of Brits Plan To Use ChatGPT For Completing Their Tax Returns Read more
- WorkFusion Raises $45 Million in Funding to Fuel Growth for Agentic AI for Financial Crime Compliance Read more
- AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico Read more
- Second Day of Money20/20 Middle East Unveils Next-Gen Solutions at the Region’s Largest Ever Fintech Gathering Read more
- United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize Read more
NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
2024’s Financial Innovators: A New Era of Banking Startups
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
The Evolution of Digital Wallets: A Shift from Physical Cards by 2030
By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.
Payment Technology Trends Shaping 2024 and Beyond
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
The Future of Digital Payments: Exploring PayPal Alternatives
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Nubank: Supercharged Banking and Predicted to Soar Beyond $100 Billion
In this blog, we will explore two exciting developments that have everyone talking about Nubank: its potential for exponential growth in share value and its remarkable expansion to serve more than 90 million customers across Latin America.
Cheaper, Faster… Riskier: Over Half Of Brits Plan To Use ChatGPT For Completing Their Tax Returns
More than half (59%) of Brits admit that they’ll use AI to help with their tax return
WorkFusion Raises $45 Million in Funding to Fuel Growth for Agentic AI for Financial Crime Compliance
WorkFusion, a pioneer in AI agents for financial crime compliance (FCC), today announced it raised $45 million in funding.
AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico
How could AI agents search, compare and pay for things? What makes stablecoins a game-changer for cross-border digital commerce? Why are local Alternative Payment Methods (APMs) crucial for any business wanting to enter and scale in emerging markets?
Second Day of Money20/20 Middle East Unveils Next-Gen Solutions at the Region’s Largest Ever Fintech Gathering
Day two of Money20/20 Middle East in Riyadh brought together global leaders in fintech, banking, and financial services to discuss the future of money and finance in the region.
United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize
United Gulf Financial Services (UGFS North Africa), a leading venture capital firm offering innovative companies and startups with financial support and mentoring services, has announced a partnership with The Hashgraph Association, a Swiss non-profit organization driving global adoption of Hedera-powered solutions by funding innovation, training, certification, and venture building programs, and Exponential Science Foundation, a not-for-profit foundation accelerating responsible tech adoption, via research, education, and innovation activities, for Hedera Africa Hackathon 2025, the biggest hackathon in Africa aimed at enabling the next generation of Web developers and empower economic inclusion in Africa with a digital future for all.
Payhawk Transforms Spending Experience for Businesses With Four Enterprise-Ready AI Agents
Payhawk announced set of AI agents that complete everyday finance work as part of its product launch
Alipay+ to Launch in Saudi Arabia, Facilitating Cross-Border Mobile Payments for Local Merchants
Ant International will launch cross-border QR code payments between the Saudi Arabia’s (KSA) national payment scheme, mada, Alipay+, during 2026 to drive digitisation and inclusive growth for local merchants.