Tag Archives: Start-ups

News

Startup Nation: Entrepreneurship in the UK

A new study from BusinessComparison has investigated the current state of startups in the UK, identifying the regions and industries with the newest businesses. The study also investigated businesses that dissolved in 2023, focusing on younger companies.

Philip Brennan, Founder and MD at BusinessComparison, comments:

“It was really interesting putting this research together. We weren’t surprised to see that London is the region with the youngest businesses on average – but in Barking and Dagenham, Newham and Hackney, the average age of businesses is actually under five years.

“Some aspects of the research might seem worrying to entrepreneurs and people hoping to start their own business soon. The average age of a business when it dissolves has now dropped below five years, to only four years and four months. However, there is plenty of support available to new businesses, including government grants, and Local Enterprise Partnership (LEP) Growth Hubs around the country where you can access up-to-date advice.”

Industries with the Youngest Active Businesses

  • Postal and courier activities: 5 years 8 months

  • Public administration and defence; compulsory social security: 5 years 10 months

  • Employment activities: 5 years 11 months

  • Food and beverage service activities: 6 years 1 month

  • Repair of computers and personal and household goods: 6 years 4 months

The industries with the youngest active businesses could cater to either a consumer or business client base. Food and beverage service activities is perhaps the industry people may be least surprised to see in this list – it’s a perennially popular type of business to start.

The Youngest Active Businesses in the Country

  • London: 7 years 2 months

  • North East: 8 years 0 months

  • North West: 8 years 0 months

  • Wales: 8 years 3 months

  • West Midlands: 8 years 4 months

London’s businesses are, on average, 10 months younger than those in the North East. The others are all very close together, with the North East and the North West’s businesses both averaging 8 years old.

  • Newham: 4 years 4 months

  • Barking and Dagenham: 4 years 5 months

  • Hackney: 4 years 7 months

  • Camden: 5 years 4 months

  • Islington: 5 years 5 months

The local authorities where you can find the youngest businesses are all in London. Companies in these local authorities are younger by at least 2 years than those in the region of London overall.

Startup Dissolutions

Are a higher proportion of businesses dissolving before they reach 5 years in business than ever before?

The average age of businesses that were dissolved went down in 2023, dropping to 4 years and 4 months. In 2022, the average age of dissolved businesses was 5 years and 2 months. It’s true that businesses are dissolving in the shortest time period, but the average age of companies that close has dropped below 5 years before – in 2017, 2018 and 2021.

The average age of dissolved businesses varied by region. The regions where companies dissolved the earliest on average were as follows:

  • London: 3 years 6 months

  • Wales: 3 years 7 months

  • East of England: 4 years 10 months

  • Scotland: 4 years 11 months

  • West Midlands: 4 years 3 months

BusinessComparison also identified the industries in which businesses dissolved the youngest.

  • Services to buildings and landscape activities: 2 years 8 months

  • Public administration and defence; compulsory social security: 2 years 8 months

  • Residential care activities: 2 years 9 months

  • Manufacture of tobacco products: 2 years 11 months

  • Repair of computers and personal and household goods: 2 years 11 months

The only industry that appears on both the list of the youngest dissolved businesses and the youngest businesses overall is computer repair.

It is not surprising to see tobacco manufacturing companies closing down earlier than peers in other industries, as the UK government is cracking down on smoking and vaping.

It’s undoubtedly true that the average age of dissolved businesses has lowered, suggesting a difficult economic environment for startups. But between 2022 and 2023, 563,847 new businesses were registered.

This research shows that there are a huge number of new startups in the UK, across a wide range of industries. Entrepreneurs and new businesses are thriving across the country.

The full report can be found here: https://www.businesscomparison.com/blog/articles-features/startup-nation

—

Sources and Methodology:

Company data was obtained from the Companies House advanced company search feature and the API.

The number of dissolved companies corresponds to the number of companies officially listed as dissolved in a given year, UK region, local authority, or industry (as per the current Standard Industrial Classification). Company age was computed as the amount of time from the date the company was incorporated to the date of its dissolution, as noted in the Companies House records, rounded to years and months. Mean and median average age estimates were taken for dissolved companies across years, industries, and locations. The percent of active companies dissolved was calculated as the number of companies dissolved in a given year, region, local authority or industry, divided by the number of companies listed as “Active” on the 1st of January of a given year. only companies based in the United Kingdom were included in the analysis.

Finance and Banking, News

WeDo Business Services launches new finance division to help fuel growth for SMEs

WeDo Business Services group has unveiled the latest stage of its expansion strategy with a new venture providing established SMEs and start-ups with asset-based finance to fuel their growth plans.

The new division, WeDo Asset Finance, is based out of the group’s headquarters in Oldham and is operating nationwide, with a goal of lending to more than 200 clients over the next 12 months.

WeDo Asset Finance is led by a trio with more than 85 years’ sector experience between them.

Rebekah Middleton has joined as managing director. She was previously head of corporate at Bibby Leasing, where she focused on structured lending and larger asset refinance facilities.

She has worked in finance for nearly 30 years, including roles at Davenham Asset Finance, Time Finance, Close Brothers and GE Capital.

Stuart Berry, who worked in the asset finance industry for more than 25 years, has joined as operations director. Emma Smith, who has 30 years’ experience in asset and trade finance, has joined as head of sales support.

WeDo Asset Finance is specialising in hire purchase funding and finance leasing for companies looking to buy assets such as vehicles, machinery and other equipment.

Among the sectors in which it is operating are manufacturing, food processing, engineering, forestry and agriculture, transport, haulage and construction.

Rebekah said many small businesses and start-ups have been struggling to obtain asset finance amid market uncertainty and global economic challenges.

She added: “We have identified a gap in the market for creative funding solutions provided by a knowledgeable, approachable and accessible team.

“We have the flexibility to provide tailored packages to suit the peaks and troughs of the business cycle, for example with higher repayments during peak sales periods and lower ones when things are predictably quieter.

“With an industry-recognised software platform and an experienced team, we are delivering from the get-go, with our first deals completed and a number of others in the pipeline.

“We are implementing a carefully-managed growth strategy to be achieved by accessing increased funding, maintaining a good quality book and developing strong and meaningful introducer partner relationships, while at the same time being able to offer access to the wider WeDo group’s services.”

The WeDo business was founded by Mark Lindsay and Chris Robinson in 2019 with just four staff and has grown rapidly through organic expansion and acquisition.

It has over 75 staff across offices in Oldham, MediaCityUK in Salford, Sheffield, Bromsgrove, Swindon and Feering in Essex.

Last year, the group launched WeDo Accountancy Services offering a range of services to SMEs and their directors, including annual and management accounts, bookkeeping, VAT and payroll services, self-assessment tax returns and advisory services.

The group also provides invoice and trade finance, start-up funding, HR, back-office and IT services to its client base.

Mark, the group’s chief executive, said: “The launch of WeDo Asset Finance is a further demonstration of our commitment to service all of our clients’ business needs to help them grow and thrive.

“Rebekah and the team have decades of experience, and they are dedicated to helping established companies, as well as new ventures, acquire essential pieces of kit or take advantage of new opportunities while freeing up their cashflow by spreading lending across regular affordable repayments at fixed rates and fixed terms.

“It’s an exciting addition to our portfolio and we are confident that the team will enjoy great success at a time when other funding routes are proving difficult for SMEs and start-ups to access.”

News

Field of Dreams for Purcell as Wolves deal marks successful launch

A Black Country print and graphics specialist has launched his own business and has already hit the net with a string of new contracts.

Dave Purcell, who has worked in the industry for more than 27 years, has enjoyed a whirlwind start to Purcell Branding, consulting Telford United on maximising its commercial advertising revenues and scoring a major early goal by being named the official print partner of Wolverhampton Wanderers.

This means the former Director of DIS is responsible for working with the Premier League team on anything from changing room makeovers and training ground signage to delivering the latest commercial solutions that maximise advertising and print space.

The entrepreneur is actively targeting the sporting world due to his understanding of the unique environment it operates in and is currently in discussions with Harlequins and several other top flight football clubs.

“I think we have an unrivalled knowledge of sport and what it takes to get things done,” admitted David, who has also worked on major boxing events for Anthony Joshua, Floyd Mayweather, and Tyson Fury.

“It’s not like the rest of the commercial world. You must react at a minute’s notice as a new deal can be struck, and the new sponsor wants their branding in place for the next match and TV audience. You can’t say ‘that’s not possible’, you must make it happen.

“That single-mindedness and experience is reinforced by a strategic network of our European specialists in print, graphics and installation, meaning we have some of the fastest response times in the industry.”

Purcell Branding gets involved in the early-stage design work, bringing the latest print and lighting suggestions to the table and, with clients keen to be more eco-friendly, sustainable materials and processes.

David believes there’s a gap in the sector for a new level of personal service, backed up by the best print, the best graphics, the best designs, the best project managers and the best installation teams.

“This is what I want Purcell Branding to become known for and we’ve had a great start with the Wolverhampton Wanderers contract that came about after I helped my former company DIS to create a memorable players tunnel that embodied what the club stood for.”

He concluded: ““It’s still my favourite project for many, many reasons. The vision, driven by then club captain Conor Coady, was to make it feel like a den, where you come to meet the pack, with the distinctive gold and black of Wolves dominating the tunnel and creating a menacing tone.

“We did this through the installation of twelve state-of-the-art lightboxes, strong vibrant colours and replacing the ceiling tiles. Importantly, the lighting solution is versatile, which meant we could transform the tunnel into a ‘Three Lions’ one for the recent England v Hungary game.”

Whilst it’s early days, Purcell Branding has ambitious expansion plans in place to hit £1m turnover in the next twelve months, which will mean recruiting a dedicated installation team.

 

News

What enterprise brands can learn from start-ups about agility and personalisation

From clothing and accessories to tech and homeware, you’ve probably purchased an item from a start-up over the past few years – whether it be a digitally native brand, or an individual selling to a global audience from their living room. Thanks to a variety of SaaS solutions and market platforms taking the stress and price away from building a bespoke digital sales platform, start-ups and their success have taken a huge leap forward. In fact, 770,000 new businesses were established in 2020 around the UK, a 30% jump compared to 2019.

The success of start-ups have come from their ability to offer flexible, personalised, and seamless experiences for customers – something that enterprise brands strive for but can fall short on due to their larger, more complex operations. With disposable incomes stretched and consumers being more conscious of their spending than ever before, larger brands need to learn from the agility and mindset of these smaller players to keep customers coming back even with an increasingly competitive retail landscape.

Here are three learnings enterprise brands can take from start-ups to bring back the ‘human touch’ within their own organisations, whilst remaining flexible against future demands.

‘Instagrammable’ packaging

With global eCommerce sales forecast to grow by 50% over the next four years, the pressure is on for big brands to recreate the rush of excitement you get when buying products in-store. This is something start-ups are already 10 steps ahead on.

Unboxing videos, for example, have grown from an internet fad to a powerful eCommerce marketing tool. As a staple of YouTube and TikTok, this unboxing phenomenon makes it plain that people’s first moments with a new online purchase are a heightened experience. A positive customer unboxing experience can help your brand tell its story – the inclusion of inserts, proper product presentation and free samples are just a few ways brands can accomplish this. This is something that start-ups know well and are investing effort into nailing. A plain box with bubble wrap will no longer cut it for customers seeking a personalised experience.

One idea that enterprise brands can adopt is a QR (quick response) code included with an online order delivery – the first hands-on experience with the item and brand the customer will experience. With the recent reliance on QR codes during the pandemic as a “touchless” way to exchange information, anyone with a smartphone knows how to engage with the code when they see it. Balancing boxes that include enough incentivisation without giving the whole story away and encouraging customers to want to discover more is the ideal ratio, with driving customers back to your main website being the primary goal.

First-class customer service

When dealing with a start-up you are often communicating with someone who has ‘skin in the game’ and is invested in the success of the business. They are motivated to give you great customer service and because of the size of their operation, they will likely have all the answers and information at their fingertips to deal with any queries you might have.

Unfortunately, customers have received a more personalised approach through start-ups, and their standards are ever-increasing. Customer care should therefore be at the forefront of building any successful brand. A top priority for larger retailers and brands should be responding to customer feedback, queries and needs. Enterprise brands can ensure they are doing this effectively by making sure they put in place an effective customer service team, look to adopt the latest time-saving technologies including chatbots and SMS services, and make use of automated processes to provide more efficient and personalised care.

Social media management should also be considered, especially in the case of celebrity-owned and celebrity-endorsed brands. Unhappy customers will often go directly to a celebrity’s social media page to make a complaint. To ensure that issues are promptly resolved, brands must effectively track mentions across all platforms, be responsive to complaints and provide the appropriate aftercare to customers. These techniques should act as a seamless extension of the brand and will ensure that a company is catering to an individual’s needs.

The finer details

The third and final area of learning for enterprise brands should be around customisation and personalisation. The agility shown by start-ups means they are well equipped to personalise your product and brand experience to you and your needs. From engraving, embroidery, and monogramming to labelling, embossing and gift bundling, consumers are increasingly looking for these value-added services from brands of all sizes.

Another layer of this is ownership of the packaging process for the consumer. As trends around sustainability continue to grow, given the option, most consumers would rather have simpler, recycled packaging in an effort to be more environmentally conscious, and reduce waste.

In an era where authenticity is of the highest value, placing ‘the human touch’ as the key component of the eCommerce experience, enables brands to adjust to the constant changes in demands from consumers. With a variety of different outsourcing solutions available to retailers, it needn’t be prohibitive, costly or time-consuming to implement. Larger brands have the opportunity to keep up with growing customer expectations that start-ups are meeting and exceeding, whilst taking strides ahead and setting their own.

News, South West

Best of the South West: Bridge Health & Wellbeing shortlisted in StartUp Awards

Dorset-based Bridge Health & Wellbeing has been named one of the most exciting new businesses in the South West after being shortlisted in the StartUp Awards 2022. It is the only Dorset business to make the shortlist in the Business-to-Consumer Services category.

The StartUp Awards National Series has been launched to recognise the booming startup scene across the UK, which has accelerated since the pandemic began. Supported nationally by BT, EY, Dell & Intel, the programme will celebrate the achievements of the amazing individuals across the UK who have turned an idea into an opportunity and taken the risk to launch a new product or service.

Over 2,500 applications were received in response to the Startup Awards National Series’ first-ever call for entries.

Paul O’Connell, Founder and lead physiotherapist of Bridge Health & Wellbeing said: “When we opened our doors in July 2019, my wife and I were so excited to realise our dream of bringing our physiotherapy and Pilates skills together to create a welcoming wellbeing community in Christchurch, Dorset with state-of-the-art facilities. It’s certainly been a rollercoaster ride since then, dealing with the impact of COVID. But our clients have been amazing and made it all worthwhile. Being recognised for all our hard work in national awards like these is very humbling.”

Professor Dylan Jones-Evans OBE, the creator of the StartUp Awards National Series, commented: “New firms are important for generating economic prosperity, employment opportunities and innovation. We’ve been blown away by the standard of entries in this first year and truly look forward to crowning the winners in June.”

The South West final will take place at Propyard in Bristol on 28th June 2022.

Louise O’Connell, co-founder and Pilates teacher, added, “We can’t quite believe that from all the amazing new B2C service companies across the entire South West we made the shortlist of just 4! We will proudly represent Dorset as the only Dorset-based finalists in our category.”

Bridge Health & Wellbeing is a friendly, family-run clinic in the heart of Christchurch in Dorset, with high quality physiotherapy, chiropractic, sports massage, rehabilitation services, expert Pilates and Yoga classes and all under one roof.

News

Five UK start-ups shortlisted for inaugural TTI Global Impact Awards

Awards ceremony featuring top DJs takes place 17 August 2021

Five innovative UK start-ups have been shortlisted for the Top Tier Impact (TTI) Group’s inaugural Global Impact Awards, celebrating entrepreneurs around the world at the cutting edge of sustainability and positive impact.

The UK Shortlisted companies are:

  • Wefarm – a small scale farmer-to-farmer community
  • Library of Things – the items and tools renting platform
  • Recycleye – AI and automation to close the loop on waste
  • BFB Labs – digital therapeutics to improve children’s mental health
  • Beam – empowerment, retraining and career matching for homeless people

The first awards of their kind globally, the TTI Global Impact Awards recognise the most innovative companies delivering sustainability for net-zero emissions and equality across eight categories: agriculture and food, consumer and retail, financial services, education and media, energy and environment, healthcare and wellbeing, sustainable cities and real estate, diversity and inclusion.

The awards are now open for public voting until 4 August 2021. The award ceremony will take place in an immersive virtual environment featuring rooftops and personal avatars on 17 August 2021. It will include special guest speakers, curated networking and performances by Burning Man DJ Goldcap and electro house DJ Sander Kleinenberg. Tickets are available on a first-come-first-serve basis.

The public’s favourite three sustainability trendsetters in each category will go forward to the expert panel of judges, which includes Billy Zane, impact investor and Hollywood actor, Melchior de Muralt, microfinance pioneer and founder of the multibillion dollar asset manager BlueOrchard, Katharine Hayhoe, climate scientist named one of Time’s 100 most influential people, and Arizona Muse, model and sustainability consultant.

Alessa Berg, TTI Founder and CEO, said: “From producing energy from thin air, empowering labour, turning waste into resources, detecting wildfires and improving youth mental health, it’s been incredible to see the talented entrepreneurs working tirelessly to reset the path of our planet.

“We received hundreds of entries from 45 countries, all dedicated to building a sustainable and fair paradigm across economic sectors. Our ceremony will bring together world-leading impact investors and famous personalities with global impact start-ups for an evening of celebration. These are the companies that are going to address the most important and pressing environmental and social issues of our time.”

The awards are supported by family offices such as Swedish Formica Capital, along with companies such as sustainable data centre developer TerraScale and Singapore property pioneer CDL.

With partners including the World Economic Forum and United Nations, Top Tier Impact is a global ecosystem of investors, entrepreneurs and professionals focused on solving the most critical issues of our time. With over 500 members across 40 countries, its mission is to accelerate the adoption of best practices in impact and sustainability in the running of companies.

Business, Business Advice, News

Starting from scratch? An expert guide to starting a business with no savings 

There has been a significant upturn in the number of start-up business ventures since pandemic restrictions set in across the UK last year.  

A recent study from The University of Law Business School 1 found that 854,948 independent businesses have been set up since 23rd March 2020, a significant 43% increase compared to the same period a year before (594,957).  

Although some budding entrepreneurs are fortunate enough to be able to fund their projects with their own savings, some have no option but to start completely from scratch. With this in mind, experts at ULaw Business School have put together a guide to starting a business with no savings whatsoever.  

  1. Start small and simple

There are a number of potential upfront costs when starting a business which can put you in the red before you even get going. Paying for things such as designs, premises and services are nice to have but not always necessary at the start, so simplifying your operation from the get-go is important.  

By conducting your business predominantly online, using services such as the Cloud to store your information, free tools such as Canva to build your brand identity, and free conferencing tools such as Skype or Zoom for any meetings and networking, you’ll be able to build a support base for your company at virtually no cost. This will allow you to scale up and put more complex structures in place moving forward. 

  1. Build around what you already have

If you have a set of skills or can provide a service people want, you can start to monetise with little to no financial investment. If you’re willing to put in your own time and effort, you can adapt an idea to work around the resources you already have.  

There are many services you can provide as a business that might align with your current hobbies, such as photography or writing and editing. There is always demand and you can use the equipment you already have to expand these into paid services. Promoting your service or products on social media is a useful and free way to get your name out there, build a reputation and start building a loyal customer base. 

  1. Calculate your costs and stick to a budget

If you’re starting a new business project with no savings to fall back on, it’s important to properly plan and outline your expected costs before you do anything else.  

Having a breakdown of your potential outgoings from day one will help you set a clear budget to ensure you don’t spend beyond initially modest means. Forecasting any potential spend each month will allow you to set a target of sales you’ll need as a minimum. Doing this weekly will ensure you can keep track of your progress, which you can start to build on, and increase your spend as your product or service starts to gain traction.    

  1. Run it as a side project (initially)

There is an element of risk when starting a new business, particularly if your base level of finance is zero. One way to easily minimise this risk is to keep hold of any full or part time job you have as a means of slowly funding the project. This will likely mean more working hours to balance both projects but could pay off in the long run. 

If you can keep any non-essential costs to a minimum to begin with, any money you do put into any project will help you expand and grow once that becomes necessary. Finally, be sure to seek advice or speak to an accountant to manage any tax implications that come with self-employment alongside full-time work. 

  1. Explore government support

You don’t always have to take a leap of faith financially when starting a business. If you have no notable funds to launch your venture, there’s an array of government support schemes to help you get things off the ground.  

The government’s Business Finance Support Finder can offer entrepreneurs different methods of financial aid, whether that’s a business grant or a flexible loan you can pay back in your own time. The options can be tailored to your own circumstances to ensure you get the right amount of support to help you. Make sure you have a solid business plan in place if this is something you choose to apply for, as it will most likely be an integral part of the application. 

Marco Mongiello, Pro Vice-Chancellor, The University of Law Business School, commented: “There is no doubt that more and more people are gaining the confidence to start out on their own, with the additional time at home due to pandemic restrictions inspiring Brits to get creative and try to monetise their skills. 

“However, whilst there are plenty of success stories of businesses born in lockdown, the challenges facing new start-ups are significant, particularly for those starting out on a modest or non-existent financial foundation. 

“In an increasingly digitised world, running a business remotely at very low cost is now more common than ever and we are confident these tips will help inspire entrepreneurs that may have been apprehensive about starting a business venture with no savings to fund it.”  

To find out more about The University of Law Business School, please visit: https://www.law.ac.uk/study/undergraduate/business/   

News

The UK is the Best European Country to Start a Business In, According to New Index

The UK is the best European country to start a business in, new research has revealed.

Aiming to discover which European countries are the best to start a business in, Tide collated data on 10 criteria points, including: GDP; tax revenue; unemployment rate; market cap of listed companies; number of start-up procedures; cost of start-up procedures; time required to start a business; new business density; ease of doing business score; and gender pay gap.

Each of the countries analysed (the 27 EU countries, plus the UK) were ranked for each of the above criteria points, before an average rank across all aspects gave the final position.

Top 10 European countries to start a business:

  1. UK
  2. Ireland
  3. Netherlands
  4. Denmark
  5. Estonia
  6. Sweden
  7. France
  8. Slovenia
  9. Lithuania
  10. Romania

Performing well across several categories, the UK was found to be the best country to start a business in overall. Ordered from best to worst performance, the UK ranked in the following positions for each criteria point:

CRITERIA POINT RANK (OUT OF 28)
Cost of start-up procedures 1 (joint)
GDP 2
Ease of doing business score 2
Market cap of listed companies 3
New business density 5
Number of start-up procedures 6 (joint)
Time required to start a business 6 (joint)
Unemployment rate 7
Gender pay gap 21
Tax revenue 23

The UK was followed by Ireland, the Netherlands, Denmark, and Estonia, which made up the remainder of the top 5.

The winner(s) per category were as follows:

CRITERIA POINT LEADER(S) STAT NOTES
GDP Germany $3,845,630,030,824 2019 data
Tax revenue Germany 11.5% % of GDP
Unemployment rate Czech Republic 1.93% % of total labour force, modelled ILO estimate
Market capitalisation France $2,365,950,236,659 Current US$
Number of start-up procedures Finland, Ireland, Greece, Slovenia, Estonia 3 procedures Start-up procedures are those required to start a business, including interactions to obtain necessary permits and licenses and to complete all inscriptions, verifications, and notifications to start operations
Cost of starting a business Slovenia, UK 0% Percentage of GNI per capita
Time to start a business Denmark, France, Estonia, Greece, Netherlands 4 days Days
New business density Estonia 23.6 New registrations per 1,000 people ages 15-64, based on latest figures for each country – 2018
Ease of doing business Denmark 85 0 = lowest performance to 100 = best performance
Gender pay gap Luxembourg 1.3% Unadjusted gender pay gap, as a percentage of male gross earnings – 2019

Liza Haskell, Chief Administrative Officer at Tide, added:

“According to Companies House, more than 750,000 (768,777) new companies were incorporated in 2020, compared to 678,419 in 2019 and 657,868 in 2018. There were 211,368 new company incorporations in Q1 (January to March) of 2021, highlighting a steady upward trend in new business creations over the last few years, which demonstrates that many more people are taking the opportunity to start a business in the UK. This, along with our research, shows that the UK is a great place to do business. As well as topping the cost of starting a business criteria (tied with Slovenia), the UK also performed well in a range of other categories to earn the top spot overall.

“While it is certainly possible to start a business in most countries, some countries are more inviting than others. The commercial hurdles manifest in different ways, including things like high tax rates, expensive start-up fees, and slow-moving business creation processes. Other factors to consider are unemployment rates, the saturation of new businesses, the ease of doing business, and the level of gender pay equality. These are all values that can indicate the health of an economy, the prospects for your company, and the cultural values and norms that you will operate within”.

For more information on the research, visit: https://www.tide.co/blog/business-tips/best-european-country-to-start-a-business/

Cybersecurity, News

Pentest People expands and opens Cheltenham office following record year of growth

Leeds cyber security consultancy, Pentest People, has announced that it has opened a new office in the Hub8 innovation space in Cheltenham’s Brewery Quarter. The company expansion follows a record year of growth that generated a 60% revenue increase for the start-up.

Organisations commission Pentest People’s cyber security experts to test their websites, applications and IT systems for any weaknesses that could allow cyber criminals to steal information, damage IT systems, or hold data to ransom. The company has a growing number of CHECK team leaders, who possess qualifications and penetration testing experience approved by the National Cyber Security Centre (NCSC), which has attracted additional clients from the public sector.

Led by sales director, Anthony Harvey and technical director, Gavin Watson, Pentest People has grown to over seventy employees within three years, with ten new members of staff added this year alone. The company has also taken on a number of apprentices to provide them with the professional experience and qualifications to start successful careers in cyber security.

A senior CHECK team leader will work in the new Cheltenham office alongside computer science graduates and apprentices hired from the local area, overseen by Gavin Watson, and company co-founder, Andrew Mason, who also runs another start-up that was accepted onto the NCSC Cyber Incubator in Cheltenham.

Andrew Mason attributes the company’s rapid growth to the innovative solutions offered, including SecureGateway, which was developed by Pentest People at the start of lockdown and enables clients to maintain rigorous testing regimes even when consultants are unable to visit their premises in person.

The development of SecureGateway earned Pentest People inclusion in Leeds’ Digital Enterprise Top 100 list and also won the company two Digital City Awards 2021 for best innovation and best cyber security project of the year.

Commenting on the company’s growth strategy, co-founder, Andrew Mason said, “In March we took a larger office in Leeds to accommodate our growing team in the North. We now want to expand our operations and develop our people in a dedicated cyber security co-working space at the heart of the UK’s national centre for cyber security expertise, where knowledge can be shared and ideas can be cross-pollinated. This will benefit our clients and growing team in Leeds, as well as allowing us to recruit graduates and talented apprentices in the Cheltenham area who have a strong aptitude for cyber security.”

Bruce Gregory, Managing Director of Hub8 commented, “We are delighted to welcome Pentest People to Hub8. Its proximity to GCHQ and links to leading academic centres, Cheltenham, and the wider region continue to attract the most ambitious and innovative companies in the cyber security space. It’s no coincidence that Cheltenham boasts eleven times the national average of cyber security companies. As a new local employer, we look forward to seeing Pentest People continuing to grow and thrive.”

For more information, please visit https://www.pentestpeople.com

Education, News

Durham University announces new £500,000 Hazan Venture Lab for entrepreneurs

Durham University has today announced the opening of a brand-new state-of-the-art facility, designed to nurture the talents and capabilities of aspiring student entrepreneurs.

Opening this autumn, the Hazan Venture Lab is the University’s first purpose-built space for entrepreneurship. Created through a collaboration between the University’s Careers & Enterprise Team and its entrepreneurial alumni, the Lab will become a specialised home from which students can embark on innovative enterprise projects to tackle the most significant problems faced by society and industry.

Students will be able to access specialist advice and mentoring sessions, much of which will be supplied by the University’s global alumni network. Students will also have the opportunity to develop their skills through workshops, networking opportunities, and participate in start-up pitching events.

The new space has been made possible through a £500,000 donation made by Durham University alumnus Jonathan Hazan.

After graduating in 1991 with a degree in Computing, Jonathan joined healthcare start-up Datix, growing the venture into an internationally successful company which today is used widely by the NHS. As Chief Executive, Jonathan led Datix through two highly successful management buyouts before stepping down to pursue his wider interests in patient safety and entrepreneurship.

Speaking about the development of the Lab, Jonathan Hazan said;
“My years at Durham gave me a solid foundation on which to build my career, and I’m delighted that I’m now able to give something back to the university. I’m hoping my donation will help to equip students with the skills they need to start and grow their own businesses.”

Housed within a brand-new Mathematical Sciences and Computer Science Building, the Hazan Venture Lab will provide students with flexible access to custom-built start-up facilities including individual and group working areas, meeting rooms, and a mini-library to give students the space and resources they need to collaborate and grow their start-ups.

Speaking on the Lab’s launch, Marek Tokarski, Senior Enterprise Manager at Durham University said;
“The Hazan Venture Lab underlines the University’s commitment to providing the best possible support for our aspiring entrepreneurs. It will enable a community of innovative minds working together on campus to create exciting new projects and ventures. Thanks to Jonathan’s generosity, we can build on the success of recent years to support even more students and graduates to fulfil their entrepreneurial ambitions.”

The Lab will also be a vital resource in the delivery of new start-up creation programmes. From September 2021, the Hazan Venture Lab will be the home of Durham Venture School, a new talent-led pre-accelerator programme through which graduates will work directly with exceptional alumni mentors to explore the key challenges facing industry and society and, together, create high-potential start-ups to tackle them.

Open to recent Durham University graduates, the programme will be the first of its kind in the Higher Education sector. Over the course of 24 weeks, participants will work together in teams to develop new business concepts, build prototypes and business models, and have the opportunity to secure substantial pre-seed investment. Participants will also be provided with support from business coaches and given access to a network of investors and like-minded entrepreneurs from Durham’s impressive start-up community.

Luke Young, Durham University graduate and co-founder of Agrisea, an ocean agriculture company focused on ending world hunger through sustainable food development, believes that the University provides the perfect open-minded environment to empower early innovators to build sector-defining companies.

Luke said;
“I’ve had first-hand experience of the dedication of the Venture Lab team to support students towards solving the world’s greatest problems. The Venture Lab supported Agrisea in our earliest days as we set out to solve world hunger, now we are a multi-million-dollar company at the frontier of science with a network that spans the globe.”