Phil Greenway, Author at UK Money

UK Debt Statistics

UK Debt Statistics Report:

Outstanding mortgage lending stood at £1,584.8 billion at the end of April 2022, an increase of £62.3 billion from a year earlier.
The average UK house price in May 2022 was £289,099, rising by 3.2% in the three months to May 2022 and by 10.5% in the year to May 2022.
The average house price for first-time buyers in Great Britain was £234,468 in April 2022, an annual increase of 11.8% and a monthly change of 1.1%.
Private rental prices in the UK rose by 2.8% in the 12 months to May 2022, with the median rent in England being £795 and £1,450 in London.
In 2020-2021, 34.7% of households owned their home outright, 30.1% had a mortgage, 18.5% rented privately, and 16.6% paid a social rent.
At the end of Q1 2022, there were 152,929 mortgage loan accounts with arrears of more than 1.5% of the current loan balance, a 10.4% decrease from Q1 2021.
UK Finance estimated that 580 homeowner properties were taken into possession in the UK in Q1 2022, up from 200 in Q1 2021, approaching pre-pandemic levels.

Daily Debt Statistics

The UK population increased by approximately 777 individuals daily from 2019 to 2020.
Average daily household expenditure on utilities (water, electricity, and gas) in the UK amounts to £4.15.
From March to May 2022, 342 people were declared insolvent or bankrupt daily in England and Wales, equating to one person every 4 minutes and 13 seconds.
In April 2022, Northern Ireland experienced 4.6 insolvencies daily, while Scotland saw 21.0 insolvencies daily in the three months leading up to March 2022.
England and Wales’ Citizens Advice Bureaux handled 2,030 debt-related issues daily in the year ending May 2022.
Between January and March 2022, 6.4 UK properties were repossessed daily, or one every 3 hours and 43 minutes.
Daily decrease of UK mortgages with over 2.5% arrears in the remaining balance was 22.8 in the year ending March 2022.
The number of unemployed individuals in the UK decreased by 973 daily in the twelve months leading up to April 2022.
629 people reported redundancy daily from February to April 2022.
Net lending to UK individuals and housing associations increased by £190.3 million daily in April 2022.
UK government debt rose by £554 million daily in the three months up to May 2022.
Borrowers paid £126 million in interest daily in April 2022.
The average daily cost of raising a child for a couple in the UK is £24.44, from birth until 18 years of age.
Lone parents in the UK spend an average of £29.50 per day on raising a child.
Daily mortgage possession claims and orders in England and Wales from January to March 2022 were 32.1 and 25.5, respectively.
During the same period, 211 landlord possession claims and 144.2 landlord possession orders were made daily.

Current Cost of Living Crisis in the UK

8 out of 10 workers who worked from home during the pandemic plan to continue hybrid working after restrictions lifted, with the proportion of hybrid workers increasing from 13% in February 2022 to 24% in May 2022, while exclusive remote workers decreased from 22% to 14% (ONS).
Families with two children face an estimated 13% annual increase in costs, outpacing the official inflation rate of 9.1%, leading to approximately £400 more in monthly expenses for essentials like food, rent, and heating (Joseph Rowntree Foundation, Loughborough University).
63% of ethnic minority individuals experienced a negative impact on their cost of living due to the pandemic, compared to 59% of all UK adults (LifeSearch Health, Wealth and Happiness Index).
46% of people receiving assistance from Citizen’s Advice have a negative budget, meaning their essential spending surpasses their income (Citizen’s Advice).
74% of adults reported their mental health being negatively affected in the past two years, with 28% attributing it to the rising cost of living, followed by 27% citing Covid restrictions (LifeSearch Health, Wealth and Happiness Index).

Personal Debt in the UK

As of April 2022, total personal debt in the UK reached £1,786.6 billion, with £1,584.8 billion in secured mortgage debt and £201.9 billion in unsecured consumer debt, including £60.9 billion in credit card debt.
UK personal debt increased by £67.1 billion from April 2021 to April 2022, resulting in an additional £1,269.14 per adult.
Average total debt per household (including mortgages) stood at £64,286, and per adult at £33,780, or 105.3% of average earnings, as of April 2022.
Over a 12-month period, the UK’s total interest payments on personal debt amounted to £46,133 million, averaging £126 million per day.
Office for Budget Responsibility’s March 2022 forecast predicts household debt to rise from £2,019 billion in 2020 to £2,447 billion in 2025, making the average total household debt £85,906.
Consumer credit debt reached £201.9 billion by April 2022, with outstanding credit card debt at £60.9 billion.
Total net lending to individuals and housing associations increased by £5.7 billion in April 2022, with net mortgage lending rising by £4.6 billion and net consumer credit lending increasing by £593 million.
In Q1 2022, lenders wrote off £773 million, including £270 million in credit card debt.
Citizens Advice Bureaux in England and Wales dealt with 2,030 debt issues daily in the year to May 2022.
In Scotland, Citizens Advice Scotland gave 79,122 pieces of advice in April 2022, with debt advice comprising 10% of the total.
In Northern Ireland, Advice NI’s Debt Action service handled 357 cases involving debt issues in May 2022, covering £1.6 million of debt.
StepChange Debt Charity assisted 12,500 new clients in April 2022, with 64% having credit card debt, 46% with personal loan debt, 33% with overdrafts, and 35% with catalogue debt.
31,435 individual insolvencies occurred in England and Wales from March to May 2022, equivalent to 342 people per day or one person every 4 minutes and 13 seconds.
In Northern Ireland, there were 144 individual insolvencies in May 2022, or 4.6 per day.
In Scotland, there were 1,894 personal insolvencies from January to March 2022, or 21.0 per day.
2,494 Consumer County Court Judgements (CCJs) were issued daily in England and Wales from January to March 2022, while in Northern Ireland, there were 10 consumer debt judgements per day, and in Scotland, 43 consumer debt decrees were registered daily.

Mortgages, Rent, and Housing

Mortgage debt in the UK increased to £1,584.8 billion at the end of April 2022, up £62.3 billion from a year earlier.
The average outstanding mortgage for households with mortgage debt was £144,332 in April 2022.
Average mortgage interest rates were 2.05% at the end of April 2022, with new loans having an average interest rate of 1.83%.
Gross mortgage lending in Q1 2022 was £76.9 billion, 7.5% lower than the same quarter in the previous year.
House prices in the UK increased by 11.2% in May 2022, with the average price reaching £289,099.
First-time buyer average house price was £234,468 in April 2022, with a typical deposit of 23% of the purchase cost or £53,928.
Private rental prices in the UK increased by 2.8% in the 12 months to May 2022, with the median rent in England at £795.
The percentage of outright homeowners was 34.7%, while 30.1% were mortgagors, 18.5% rented privately, and 16.6% paid social rent.
Mortgage loan accounts with arrears of more than 1.5% of the current loan balance were 152,929 at the end of Q1 2022, down 10.4% from Q1 2021.
There were 580 homeowner property possessions in Q1 2022, up from 200 in Q1 2021, approaching pre-pandemic levels.

Arrears and Repossessions in the UK

At the end of Q1 2022, there were 152,929 mortgage loan accounts with arrears of more than 1.5% of the current loan balance, representing a 1.1% decrease from the previous quarter and a 10.4% decrease from Q1 2021.
In Q1 2022, 49.3% of payments due for loans in arrears were received.
UK Finance reported that 75,670 (0.85%) of homeowner mortgages had arrears equivalent to at least 2.5% of the outstanding mortgage balance in Q1 2022, marking a 5.0% decrease from the previous quarter.
Over the last year, mortgages in arrears have decreased by an average of 22.8 per day.
UK Finance estimated that 580 homeowner properties were taken into possession in Q1 2022, up from 200 in Q1 2021, which equates to 6.4 properties per day or one property every three hours and forty-three minutes.
In England and Wales, between January and March 2022, an average of 32.1 mortgage possession claims were issued, and 25.5 mortgage possession orders were made daily.
During the same period, 211 landlord possession claims were issued, and 144.2 landlord possession orders were made daily.
Compared to Q4 2019, mortgage possession claims fell by 54%, orders by 48%, landlord possession claims by 25%, and landlord possession orders by 37%. This decrease was due to the forbearance action by the Government and the FCA in response to the Covid-19 pandemic.
Possession claims and orders increased in Q2 and Q3 2021 from the low levels observed in mid-2020.

Sources:

Jobs in Demand in the UK

Jobs that are in demand are constantly shifting and evolving in the UK — it’s crucial to stay ahead of the curve (and keep your career game strong).

uk jobs

According to the Office for National Statistics 14.2% of jobs were low paid.

Let’s delve into the world of jobs that are in demand, providing you with original insights (and comprehensive analysis) to help you make informed decisions about your career.

Fast-Growing Jobs in the UK

High-skilled jobs are crucial in our knowledge-intensive economy.

With the job market changing rapidly, it’s essential to explore various pathways to get into them, and one exciting option is through apprenticeships. The great news is that a report has been created to help raise awareness of the opportunities available, and provide expert advice and resources to help navigate prospective careers.

As we explore the fast-growing jobs in the UK, you’ll notice that various sectors are experiencing a surge in demand for skilled professionals.

1. Artificial Intelligence Specialist

An Artificial Intelligence Specialist is responsible for developing and implementing intelligent systems that can learn and adapt to changing environments. They use algorithms and machine learning to create intelligent systems that can make predictions and recommendations based on data analysis.

Skills needed: programming languages (such as Python, R), machine learning, deep learning, natural language processing, data analysis.

Industries hiring: IT, healthcare, finance, e-commerce.

2. Data Protection Officer

A Data Protection Officer ensures that an organization is complying with data protection regulations and laws, and that customer data is secure. They monitor and analyze data protection processes and policies, develop and implement data protection strategies, and ensure that data protection training is provided to employees.

Skills needed: data protection regulations and laws, risk management, IT security, data privacy, communication.

Industries hiring: IT, finance, healthcare, government, legal.

3. Robotics Engineer

A Robotics Engineer designs and develops robotic systems that can perform tasks autonomously. They work with electronic, mechanical and software engineers to design, build, and test robotic systems, and may also be involved in programming and testing the software that controls the robots.

Skills needed: robotics, electronics, mechanical engineering, software engineering, programming.

Industries hiring: manufacturing, healthcare, automotive, aerospace.

4. Site Reliability Engineer

A Site Reliability Engineer is responsible for ensuring the reliability, scalability, and performance of web-based applications and services. They design and implement systems to automate the deployment and monitoring of applications, and work to improve the efficiency and resilience of web services.

Skills needed: system administration, software engineering, networking, cloud computing, automation.

Industries hiring: IT, e-commerce, finance, healthcare.

5. Customer Success Specialist

A Customer Success Specialist works to ensure that customers are satisfied with a company’s products or services, and helps them to resolve any issues or problems they may encounter. They act as a liaison between the customer and the company, and work to build long-term relationships with customers.

Skills needed: customer service, communication, problem-solving, relationship building.

Industries hiring: IT, e-commerce, finance, healthcare, retail.

6. User Researcher

A User Researcher conducts research to understand user behavior and preferences, and uses this information to improve the design of products and services. They conduct surveys, interviews, and usability testing to gather feedback and insights from users, and work with designers and developers to implement changes.

Skills needed: research methods, data analysis, user experience design, communication.

Industries hiring: IT, e-commerce, finance, healthcare, government.

7. Data Scientist

A Data Scientist analyzes and interprets complex data sets to identify patterns and trends, and uses this information to make business decisions. They use statistical analysis, machine learning, and data visualization techniques to analyze and interpret data, and may work with other data analysts and business stakeholders.

Skills needed: statistical analysis, data mining, machine learning, data visualization, communication.

Industries hiring: IT, finance, healthcare, e-commerce.

8. Sales Development Representative

A Sales Development Representative is responsible for generating leads and qualifying potential customers for a company’s sales team. They conduct outreach and follow-up activities to identify potential customers, and work to build relationships with them.

Skills needed: sales, communication, lead generation, customer relationship management, negotiation.

Industries hiring: IT, e-commerce, finance, healthcare, retail.

9. Cloud Engineer

A Cloud Engineer is responsible for designing and implementing cloud-based systems and services, and ensuring that they are secure, scalable, and performant. They work with other engineers to design and deploy cloud infrastructure, and may also be involved in troubleshooting and resolving issues with cloud-based systems.

Skills needed: cloud computing, system administration, networking, automation.

Industries hiring: IT, finance, healthcare, e-commerce.

10. Cyber Security Specialist

A Cyber Security Specialist is responsible for ensuring that an organization’s networks, systems, and data are secure and protected from cyber attacks. They monitor networks and systems for potential security threats, and develop and implement security protocols and procedures to prevent unauthorized access.

Skills needed: network security, information security, cyber security, risk management, communication.

Industries hiring: IT, finance, healthcare, government, retail.

11. Platform Engineer

A Platform Engineer is responsible for designing and implementing software platforms that can support and scale complex systems and applications. They work with other engineers to design and deploy platform infrastructure, and may also be involved in troubleshooting and resolving issues with platform-based systems.

Skills needed: software engineering, cloud computing, system administration, networking.

Industries hiring: IT, e-commerce, finance, healthcare.

12. Full Stack Engineer

A Full Stack Engineer is responsible for designing and developing both front-end and back-end components of web-based applications. They work with other engineers and designers to develop and deploy web applications, and may also be involved in troubleshooting and resolving issues with web-based systems.

Skills needed: web development, software engineering, database management, front-end development, back-end development.

Industries hiring: IT, e-commerce, finance, healthcare, government.

13. Content Designer

A Content Designer creates and develops content for various platforms and mediums, such as websites, social media, and marketing materials. They work with other designers and content creators to develop and implement content strategies, and may also be involved in analyzing and interpreting data to optimize content performance.

Skills needed: content creation, content strategy, copywriting, data analysis, communication.

Industries hiring: IT, e-commerce, finance, healthcare, media.

More statistics: Food Box Market Size and Food Delivery Market Size

Highest Paying Jobs in the UK

First let’s look the the top3 cities by average salary:

Location	Average Salary
London	£49,100
Bristol	£38,400
Portsmouth	£37,600

Here is a list with the highest paying jobs by role:

Industry	Average Salary
IT	£49,400
Marketing	£37,300
Consulting	£37,400
Management	£39,400
Finance	£40,300
HR	£41,000
Construction	£41,700
Banking	£43,100
Engineering	£45,500
Design	£46,300

Growing Sectors in the UK

Let’s take a closer look at some of these booming industries and the roles that are quickly becoming sought-after:

Renewable Energy and Sustainability

With the UK’s commitment to achieving net-zero carbon emissions by 2050, the renewable energy and sustainability sectors are witnessing an impressive growth. This shift is creating high demand for professionals like solar panel installers, wind turbine technicians, and sustainability consultants, as well as experts in energy management and storage solutions.

Health and Social Care

The ageing population and an increased focus on mental health have led to a significant rise in the need for health and social care professionals. Roles such as nurses, care workers, therapists, and mental health specialists are in high demand across the country, providing numerous opportunities for those with the right skills and qualifications.

Tech and Digital Industries

As technology continues to advance at a rapid pace, the digital landscape in the UK is thriving. Job seekers with expertise in areas like software development, data analysis, cybersecurity, and artificial intelligence are in great demand, as businesses across all sectors strive to stay ahead of the competition and embrace digital transformation.

Construction and Infrastructure

Major infrastructure projects and the UK government’s push for more affordable housing have fuelled a surge in demand for construction professionals. From architects and engineers to project managers and skilled tradespeople, a wide range of roles are available in this booming industry.

Online Education and Training

The pandemic has highlighted the importance of online education, leading to a surge in demand for e-learning specialists, instructional designers, and remote tutors. With more educational institutions and businesses adopting digital learning solutions, professionals with expertise in this field can look forward to a wealth of opportunities.

Jobs in Demand for the Next Decade

Job Title	People in this job	Job Openings (2012-2022)	Employment change (2012-2022)	Starting salary	Average salary	Weekly gross pay	Average hours	% difference – UK salary	% difference – UK hours
Care Workers	729,000	530,000	+196,000	£12k	£12k*	£244	40	-41.5%	+2.6%
Construction Project Managers	64,000	41,000	+13,000	£27k	£35k	£672	40	+59%	+2.6%
Electricians	297,000	70,000	-23,000	£17-20k	£29k	£553	43	+31.8%	+10.3%
Farmers	162,000	66,000	-16,000	£13k (Salary for farm worker)	£25k	£493	52	+13.6%	+33.3%
IT Business Analysts	113,000	n/a	+23,000 (2012-2022)	£20k	£40k	£774	38	+81.8%	-2.6%

Note: *The average salary for Care Workers is the same as the starting salary.

FAQ

Which job is easy to get in the UK?

There is no one answer to this question, as it can depend on a variety of factors such as location, industry, and personal qualifications. However, some entry-level jobs in sectors such as retail, hospitality, and customer service may be easier to get into.

What is the hardest job to get in the UK?

Again, this can depend on various factors, such as industry and location. However, some jobs that are known to be highly competitive and require extensive qualifications and experience include roles in finance, law, and medicine.

Where in the UK has the most job opportunities?

Major cities such as London, Manchester, and Birmingham typically have the most job opportunities, as they are home to a range of industries and businesses. However, other regions such as the southeast and southwest of England also offer a significant number of job opportunities.

Which skill is highly paid in the UK?

Skills such as data analysis, software development, and artificial intelligence are in high demand and can command high salaries in the UK. Additionally, skills in management, finance, and marketing can also be highly paid depending on the industry.

Which degree is most in demand in the UK?

STEM (Science, Technology, Engineering, and Mathematics) degrees are often in high demand in the UK, as they are relevant to many of the country’s growing industries. However, degrees in other fields such as business, healthcare, and law can also be in demand depending on the job market.

Sources:

UK Food Delivery Market Size

The food delivery market has experienced significant growth in recent years, driven by advancements in technology and evolving consumer preferences for convenience and variety.

In the United Kingdom, this industry reached an estimated £10 billion in 2022, accounting for 4.65% of the global food delivery market.

REPORT HIGHLIGHTS:

UK vs Global vs Us Food Delivery Market Size

In 2022, the UK food delivery market was valued at £10 billion.
Comparatively, the global food delivery market size reached £215 billion the same year.
The US market alone accounted for £50 billion in 2022.
The UK held a 4.65% share of the global food delivery market in 2022.
Meanwhile, the US commanded a 23.26% share.
The UK food delivery market experienced a 7% annual growth rate in 2022.
Globally, the market grew by 9% during the same period.
The US market saw an 8% annual growth rate in 2022.

UK Foodservice Market by Type of Restaurant

28% quick service restaurants, 38% full-service restaurants, 31% cafes and bars, 2% street food

Here is how to global chart looks like:

food service market type — Chart by deloitte.com

Global Food Delivery Trends

In 2019, the global worth of Italian cuisine reached €236 billion, reflecting a growth of over 6% from €209 billion in 2017.
Italian cuisine accounts for 18% of the worldwide full-service restaurant market.
Italian cuisine’s value is greater in China (29%) and the US (24%) than in Italy (16%) itself.
US and Brazil are the top countries in terms of Italian cuisine penetration overseas, both at 28%.
In the leading 5 European nations (including the UK), European cuisines make up 44% of the foodservice market.
With a market share of over 30% Italian cuisine dominates the European cuisines landscape and is projected to grow further.
Authentic Italian products hold enormous potential.
The value of such products is nearly triple that of Italian food exports.

Food Delivery Trends in the UK

A 27% increase has been observed in food service delivery users ordering lunch to spend time with their partners.

This trend presents an opportunity to target couples working from home by offering lunchtime deals for two.

What The Big Brands Are Doing

Pub and bar delivery availability experienced a 25% increase YoY, with nearly half of brands now offering this service.
Contemporary fast food brands, like Five Guys and Tortilla, have joined forces with Deliveroo Editions.
Other examples include Vintage Inns, Ember Inns, O’Neill’s, Chef & Brewer, and Farmhouse Inns, which all saw a 25% increase in delivery availability.
McDonald’s has experimented with a new concept to accommodate increased delivery volumes without affecting the dine-in experience.
In November 2021, McDonald’s piloted the “Convenience of the Future” model, which: Provides a separate entrance and waiting area for delivery drivers. Reduces disruptions to customers by keeping couriers away from dining areas.
Wagamama introduced BOX, a lunchtime delivery concept designed for remote and office workers in 2 cities: London and Leeds.
On-demand groceries contributed to around 11% of Deliveroo’s revenue in the first half of its financial year, up from 9% the previous year.
Deliveroo reported full-year revenues of nearly £2 billion for the year ending December 31, 2022, marking a 13.8% increase from the previous year.
The company’s pre-loss stood at £230.6 million, which is an improvement from the £281.8 million loss reported a year earlier.

What UK Customers Want

53% of respondents try to buy healthier snack items, such as reduced sugar or lower-calorie options.
50% find calorie information on menus useful.
48% are attempting to reduce their meat consumption.
46% appreciate menus offering lower-calorie versions of signature dishes.
44% are trying to cut down on their alcohol consumption.
39% feel motivated to exercise and maintain a balanced diet

Latest Statistics (Updated in January 2023)

UK rapid delivery companies are experiencing a reduction in riders and warehouse closures.
Major player Gorillas has retreated from five UK towns and cities, leading to a downsized workforce.
Getir, an on-demand grocer, has placed some UK stores in “hibernation” and trimmed its employee count.
Zapp, a London-based competitor, has slashed its workforce by 10% and exited Bristol, Cambridge, and Manchester.
As delivery discounts wane, on-demand grocery app downloads and usage have declined.
Low profit margins on food items, typically ranging from 1-5%, make it difficult for firms to become profitable.
To reduce expenses and showcase a route to profitability, some rapid delivery firms are resorting to gig economy riders.

UK Food Delivery Market

Tthe food delivery market has experienced significant growth in recent years, with the UK market demonstrating remarkable progress.

This report highlighted key trends, including the rise of delivery services for pubs and bars, innovative delivery concepts, and an increased focus on health-conscious options.

Additionally, it emphasized the continued popularity of Italian cuisine worldwide and the growing presence of on-demand grocery services within the food delivery sector.

Businesses within the food delivery market need to stay updated on these trends and adapt accordingly to capitalize on the opportunities they present.

By catering to the evolving preferences and needs of consumers, companies can successfully navigate the competitive landscape and ensure a sustainable future in the thriving food delivery market.

Sources:

eToro Dividends

If you’re investing in stocks, ETFs, or indices on eToro, you may be wondering if you’ll receive any dividend payments. The good news is that eToro does pay dividends.

Let’s explore the details of how they work and how you can track your payments.

First of all, let’s define what a dividend is. When a company makes a profit, it may distribute a portion of that profit to its shareholders as a dividend payment. Dividends are usually paid on a quarterly basis, although some companies may pay them monthly, semi-annually, or annually.

How Dividends Work on eToro

On eToro, if you hold a BUY position in a stock, ETF, or index that pays a dividend, you’ll receive the dividend payment to your available balance. If you hold a SELL position, the dividend payment will be deducted from your available balance. It’s important to note that you’ll only receive dividend payments if you hold BUY positions for those stocks or ETFs.

So, when does eToro pay dividends?

There are two important dates to keep in mind: the Ex-Dividend date and the dividend payment date.

Ex-Dividend

The Ex-Dividend date is the cutoff date of when you have to own the stock to receive dividends. You should hold the stock on eToro on the day before the ex-dividend date to make sure you’re eligible to receive that dividend. The other important date is the dividend payment date, which is the date when the company normally distributes the dividend.

It’s worth noting that if you’re trading CFD positions, you don’t even need to wait for the dividend payment date – you’ll receive the dividend payment on the ex-dividend date. If your positions are secured with the real asset (which is normally the case), you’ll get your dividend payment on the dividend payment date. This is valid for both stocks and ETF dividends.

Track Dividend Dates

Now, you may be wondering how you can track dividend dates for your eToro stocks and ETFs. Fortunately, there are a few free apps that track dividend payment, ex-dividend, and even earnings dates for all your eToro stocks. All you need to do is create an account and enter your eToro username. It’s completely safe, and no connection to eToro is required.

In A Nutshell

eToro does pay dividends for stocks, ETFs, and indices, and you’ll receive the dividend payment if you hold a BUY position. The Ex-Dividend date and dividend payment date are important to keep in mind.

By understanding how dividends work and tracking your payments, you can make the most of your eToro investments and potentially earn a stable and growing income stream.

Food Box Market Size UK

Welcome to our comprehensive analysis of the thriving UK food box market!

As an essential sector in the food industry, meal kit deliveries have transformed the way we approach cooking and meal planning.

In this report, we’ll explore the UK food box market landscape, shedding light on the factors contributing to its impressive growth and the opportunities it presents.

Introduction to the UK Food Box Market

Get ready to embark on a journey through the ins and outs of this ever-evolving market, as we uncover the key players, trends, and innovations that have shaped it.

By the end of this report, you’ll have a solid understanding of the market dynamics and the factors driving its success, equipping you with the knowledge needed to make informed decisions and strategies in this competitive space.

Stay with us as we dive into the world of food boxes and discover what makes them so appealing to the UK consumer.

Growth Trends in the Food Box Market

As we delve into the booming UK food box market, it’s essential to understand the remarkable growth trends that have propelled it to new heights. In just a year, the revenue from meal kits in the UK skyrocketed from 1.25 million USD in 2021 to an astonishing 1.5 billion USD in 2022. This meteoric rise shows no signs of slowing down, with forecasts indicating continued growth in the coming years.

So, what’s driving this massive surge in demand for meal kits? A combination of factors can be attributed to this success, including convenience, variety, and consumers’ increasing desire for healthier, home-cooked meals.

Additionally, the ongoing COVID-19 pandemic has led to a shift in consumer behaviour, with more people staying at home and seeking meal solutions that fit their busy lifestyles.

Moreover, the food box market has embraced innovation and technology to stay ahead of the curve, adapting to the rapidly changing needs of consumers.

From user-friendly mobile apps to advanced meal customization options, these innovations have played a crucial role in making meal kits an indispensable part of our daily lives.

In the next sections, we’ll explore these factors in more detail, offering you a comprehensive understanding of the forces shaping this dynamic market.

Food Waste Reduction and Its Impact on Meal Kits

In today’s environmentally-conscious society, the issue of food waste has taken centre stage, and the UK food box market has risen to the challenge. According to Wrap research, UK households threw away 6.6 million tonnes of food in 2018, a significant decrease from 8.1 million tonnes in 2007.

This positive trend can be partly attributed to the growing popularity of meal kits, which offer pre-portioned ingredients and reduce the likelihood of waste.

Meal kit companies have tapped into consumers’ desire for sustainability and waste reduction, incorporating eco-friendly practices into their business models.

From using recyclable packaging to sourcing local ingredients, these companies have demonstrated their commitment to minimizing their environmental impact while still providing convenience and quality to their customers.

Furthermore, the precise portioning of ingredients in meal kits not only reduces waste but also helps consumers manage their food budget more effectively. By cutting down on excess food purchases, households can save money while contributing to a more sustainable future.

Innovations in the Food Industry: Online Supermarkets and Q-Commerce

The food industry has witnessed a wave of innovations in recent years, with technology playing a pivotal role in reshaping the way we shop, cook, and consume food. Online supermarkets, app-based takeaway services, and Q-commerce (quick commerce) services have emerged as popular alternatives to traditional brick-and-mortar stores, offering unmatched convenience and speedy delivery.

Online supermarkets have made grocery shopping a seamless experience, with customers enjoying the luxury of ordering groceries from the comfort of their homes. These digital platforms have also paved the way for a more personalised shopping experience, with tailored recommendations and promotional offers based on customers’ preferences and shopping habits.

App-based takeaway services have also experienced a surge in popularity, catering to consumers’ on-demand lifestyle and desire for instant gratification. Q-commerce services take this a step further, promising ultra-fast delivery times, often within an hour or less.

The meal kit industry has also harnessed the power of technology to stay competitive and relevant in this fast-paced environment. With user-friendly websites and mobile apps, customers can effortlessly browse meal options, customise their orders, and schedule deliveries according to their preferences.

As we further explore the UK food box market, we’ll delve into the strategies adopted by meal kit companies to capitalise on these technological innovations, ensuring they stay ahead of the curve and cater to the ever-evolving needs of their customers. Stay tuned as we uncover the role of technology in shaping the future of the food industry.

The Rise of Meal Kit Companies in the UK

As the UK food box market continues to grow at an impressive rate, numerous meal kit companies have emerged to cater to the diverse needs and preferences of consumers. These companies have successfully differentiated themselves by offering a wide range of meal options, targeting specific dietary requirements, and delivering exceptional customer experiences.

From vegan and gluten-free options to gourmet recipes and family-friendly meal plans, meal kit companies have gone above and beyond to cater to every palate. This versatility has made them increasingly popular among consumers, who appreciate the convenience and variety offered by these services.

In addition to their diverse offerings, meal kit companies have leveraged technology and data analytics to better understand their customers and fine-tune their marketing strategies. By analysing search visibility, keyword opportunities, and page speed, these companies have been able to optimise their online presence, reaching a broader audience and driving business growth.

Furthermore, meal kit companies have embraced social media, engaging with customers through targeted content, brand mentions, and influencer partnerships. These strategies have helped them build strong online communities and foster brand loyalty, ensuring their long-term success in the competitive food box market.

Global Meal Kit Delivery Market Overview

To truly appreciate the UK food box market’s remarkable growth, it’s essential to understand the global context in which it operates. The meal kit delivery market has experienced a worldwide surge, with total revenue reaching 15.5 billion USD in 2022. This figure is expected to grow even further, hitting an impressive 25.62 billion USD by 2027.

This global success can be attributed to many of the same factors driving the UK market, including convenience, versatility, and an increased focus on healthy, home-cooked meals. As consumers around the world seek out innovative solutions to their meal planning needs, meal kit companies have risen to the challenge, providing tailored options that cater to a diverse array of preferences and lifestyles.

Moreover, the global meal kit market has been propelled by advancements in supply chain management, logistics, and technology. These improvements have enabled meal kit companies to operate more efficiently, reduce costs, and provide better service to their customers.

Future Outlook and Projections for the UK Food Box Market

As we conclude our in-depth analysis of the UK food box market, it’s time to look ahead and consider the future prospects for this thriving industry. With continued growth anticipated over the next few years, meal kit companies have ample opportunities to innovate, expand, and solidify their positions in the market.

The key to success in this ever-evolving landscape lies in staying ahead of consumer trends and leveraging technology to deliver exceptional customer experiences. As more people turn to meal kit services for convenience and variety, companies must continue to innovate, offering a diverse range of meal options and catering to specific dietary needs.

Sustainability will also play a crucial role in the future of the UK food box market, with environmentally-conscious consumers seeking out brands that align with their values. Meal kit companies that prioritize eco-friendly practices, such as reducing packaging waste and sourcing local ingredients, will be better positioned to attract and retain customers in the long run.

Furthermore, the integration of advanced technologies, such as artificial intelligence and machine learning, will help meal kit companies streamline their operations, improve their marketing strategies, and offer more personalised experiences for their customers.

By keeping a close eye on emerging trends and remaining agile in the face of change, meal kit companies can capitalize on the opportunities presented by the UK food box market’s continued growth. As we wrap up this comprehensive report, we hope you’ve gained valuable insights and a deeper understanding of the factors driving this dynamic and exciting industry.

How Much Do Uber Eats Drivers Make (in the UK)?

Are you looking to earn extra income as a delivery driver in the UK?

With the rise of food delivery services, such as Uber Eats, becoming a driver can be a flexible and lucrative option.

But just how much can you really make?

In this article, we’ll take a closer look at the

earning potential for Uber Eats drivers in the UK
payment options
tips and tricks for maximizing your earnings

and everything else you need to know to get started on the road to success.

Uber Eats and Driver Requirements

Ready to join the Uber Eats squad in the UK?

Get ready to deliver delicious meals from local restaurants to customers, but before you rev up your engine, there are a few things you need to know.

To become an Uber Eats driver, you’ll need to meet specific requirements.

You must be 18 years or older, possess a valid UK driving license, and own a vehicle, scooter or bicycle that meets Uber Eats’ minimum requirements.

If you’re driving, ensure you have valid insurance, tax, and an MOT certificate. If you’re a speed demon on a bike or scooter, make sure you have the appropriate insurance.

Once you’re all set, signing up is easy-peasy! Use the app to provide some basic info about yourself, your ride, and your insurance, and undergo a quick background check.

Voila, you’re part of the team!

One of the best things about being an Uber Eats driver is the flexibility it offers. You get to decide when and where you work, with no minimum hours or set shifts required.

But remember, you’ll be considered a self-employed contractor, meaning you’re responsible for paying your own taxes and covering expenses.

In addition to meeting the requirements and understanding how the app works, it’s essential to know how you get paid. When you’re online and accepting orders, you’ll receive notifications for delivery requests. It’s up to you to accept or decline each request, and if you accept, you’ll get directions to the restaurant and the customer’s location.

And when it comes to payments, Uber Eats offers weekly deposits directly to your bank account, or instant cashouts – up to five times a day!

Rev up your engine or hit the pavement now and get started on your Uber Eats journey!

What Is Uber Eats and How Does It Work?

Uber Eats is a food delivery service that partners with local restaurants to offer customers convenient access to their favorite meals.

As an Uber Eats driver, your job is to pick up the orders from the restaurant and deliver them to the customers. Customers can use the Uber Eats app to browse menus, place orders, and track their delivery in real-time.

How To Become an Uber Eats Driver

To become an Uber Eats driver in the UK, you need to meet certain requirements, such as being at least 18 years old, having a valid UK driving licence, and owning a vehicle, scooter or bicycle that meets the minimum requirements set by Uber Eats.

If you meet the requirements, you can sign up to become a driver through the Uber Eats app, providing basic information about yourself, your vehicle, and your insurance.

Sign Up on the Uber Eats Driver App

Once you have met the requirements, you can sign up to become an Uber Eats driver through the Uber Eats driver app. The sign-up process is straightforward and involves providing basic information about yourself, your vehicle, and your insurance.

Requirements for Becoming an Uber Eats Driver

To become an Uber Eats driver in the UK, you must meet certain requirements, such as being at least 18 years old, having a valid UK driving licence, and owning a vehicle, scooter or bicycle that meets the minimum requirements set by Uber Eats.

If you’re delivering by car, you’ll also need valid insurance, tax, and an MOT certificate. If you’re delivering by bike or scooter, you’ll need to have valid insurance for your mode of transport.

Good To Know

It’s important to note that as an Uber Eats driver, you’re considered a self-employed contractor, which means you’re responsible for your own taxes and expenses.

Additionally, you have the flexibility to choose when and where you want to work, and there are no minimum hours or shifts required. However, you’ll need to plan for your own taxes and expenses as a self-employed contractor.

Uber Eats Delivery Process and Earnings

As an Uber Eats driver, your earnings are directly tied to the number of deliveries you complete. The process of delivering for Uber Eats typically involves the following steps:

Start Receiving Delivery Requests

When you’re online and available to receive orders, you’ll receive notifications for delivery requests. You can choose whether to accept or decline each request, and if you accept, you’ll be given directions to the restaurant and customer’s location.

Deliver Your Orders

Once you’ve picked up the order from the restaurant, you’ll deliver it to the customer’s location. You can use the Uber Eats app to track the customer’s location and provide updates on your delivery progress.

Earn Your Money

Your earnings as an Uber Eats driver are calculated based on the number of deliveries you complete. The more deliveries you complete, the more money you can earn. Uber Eats pays drivers on a weekly basis, and you can choose to receive your earnings through weekly deposits to your bank account, instant cashout, or two-day cashout.

How Much Do Uber Eats Drivers Make?

The amount of money you can make as an Uber Eats driver in the UK depends on several factors, including the number of deliveries you complete, the time of day, and the location. According to Uber, drivers can earn up to £120 per day, but this amount can vary based on your location and the demand for deliveries in your area.

Use Uber Eats Promotions To Earn More Money

Uber Eats offers promotions and incentives to help drivers earn more money. These promotions can include things like surge pricing during peak hours, guaranteed earnings for completing a certain number of deliveries, and bonuses for completing deliveries in certain areas.

How is Uber Eats Pay Calculated?

The amount you earn as an Uber Eats driver is calculated based on a few different factors. These factors include:

Base fare: This is the fee you receive for accepting the delivery request.
Pickup fee: This fee covers the cost of picking up the order from the restaurant.
Drop-off fee: This fee covers the cost of delivering the order to the customer’s location.
Mileage fee: This fee is based on the distance between the restaurant and the customer’s location.

In addition to these fees, you may also receive tips from customers, and you can earn extra money through promotions and incentives offered by Uber Eats.

How to Make the Most Money With Uber Eats

To maximize your earnings as an Uber Eats driver, there are a few things you can do. These include:

Focus on short, quick trips: By prioritizing shorter trips, you can complete more deliveries in less time.
Decline low-paying deliveries during peak hours: During peak hours, you may receive more delivery requests, but some of these requests may be for low-paying orders. To maximize your earnings, it’s often better to decline these orders and wait for higher-paying ones.
Hang out where the action is: By positioning yourself in busy areas, you’re more likely to receive delivery requests.
Combine promotions when available: When Uber Eats offers multiple promotions at the same time, try to combine them to earn even more money.
Use a route planner: By planning your delivery routes in advance, you can save time and complete more deliveries in less time.

How much does Uber Eats pay in the UK? Income Breakdown

Do you want to know how much do Uber Eats riders make in the UK?
To give you an idea of how much you can expect to earn as an Uber Eats driver, here’s a breakdown of potential earnings based on different timeframes.

Timeframe	Earnings
Daily	£20-£120 per day
Monthly	£800-£2,400 per month
Annually	£9,600-£28,800 per year

How much do Uber Eats drivers make in London?

Drivers in Londong can make more then this because the distances are longer.

It’s important to keep in mind that these earnings are estimates and can vary based on several factors, such as your location, the time of day, and the demand for deliveries.

How Does An Uber Eats Driver Get Paid?

Uber Eats pays drivers on a weekly basis, with payments deposited directly into your bank account. You can choose to receive your earnings through weekly deposits to your bank account, instant cashout, or two-day cashout. Additionally, you can see your earnings and payment history in the Uber Eats driver app or on your partner dashboard.

Uber Eats Delivery Driving Pros and Cons

Before deciding to become an Uber Eats driver, it’s important to consider the pros and cons of the job.

Pros

One of the biggest advantages of being an Uber Eats driver is the flexibility it offers. You can choose when and where you want to work, and there are no minimum hours or shifts required. This makes it a great option for people who want to earn extra income on their own schedule.

Another advantage of being an Uber Eats driver is that you don’t need any previous experience or special skills. As long as you meet the requirements, you can start delivering right away.

Delivering for Uber Eats can be a fun and rewarding experience. You get to explore new neighborhoods, meet new people, and help people get their favorite meals delivered right to their doorstep.

Cons

One of the biggest downsides of being an Uber Eats driver is the wear and tear on your vehicle or bike. If you’re delivering by car, you’ll need to factor in the cost of gas, insurance, and maintenance. If you’re delivering by bike or scooter, you’ll need to factor in the cost of maintenance and repairs.

Another potential downside of being an Uber Eats driver is the risk of accidents or injuries. Delivering food can be a hazardous job, especially if you’re driving or cycling in busy areas.

As a self-employed contractor, you’ll be responsible for your own taxes and expenses, which can be a headache for some people.

Tips and Strategies for Maximizing Earnings

As an Uber Eats driver, there are many tips and strategies you can use to maximize your earnings. By following these tips, you can increase the number of deliveries you complete and earn more money per delivery.

Tips To Increase Your Pay

There are several things you can do to increase your pay as an Uber Eats driver. Some of these tips include prioritizing short, quick trips, avoiding low-paying deliveries during peak hours, focusing on delivering in busier areas, and combining promotions.

By following these tips, you can maximize your earnings and increase your pay as an Uber Eats driver.

Prioritize Short, Quick Trips

One of the best ways to increase your earnings as an Uber Eats driver is to prioritize short, quick trips. By completing more deliveries in less time, you can increase your overall earnings and maximize your pay.

When you receive a delivery request, consider the distance and estimated time required to complete the delivery, and prioritize shorter trips whenever possible.

Avoid Low-Paying Deliveries During Peak Hours

During peak hours, you may receive more delivery requests, but some of these requests may be for low-paying orders. To maximize your earnings, it’s often better to decline these orders and wait for higher-paying ones.

By avoiding low-paying deliveries during peak hours, you can increase your earnings and make the most of your time as an Uber Eats driver.

Focus On Delivering In Busier Areas

By focusing on delivering in busier areas, you’re more likely to receive delivery requests and complete more deliveries in less time. Use the Live Map feature in the Uber Eats app to identify busy areas in your city, and position yourself in those areas whenever possible. By focusing on delivering in busier areas, you can increase your earnings and make the most of your time as an Uber Eats driver.

Combine Promotions

Uber Eats offers multiple promotions and incentives to help drivers earn more money. When multiple promotions are available at the same time, try to combine them to earn even more money. For example, if there’s a promotion for completing a certain number of deliveries in a specific area and a surge pricing promotion, focus on completing deliveries in that area during the surge pricing period to maximize your earnings.

Use A Route Planner

By planning your delivery routes in advance, you can save time and complete more deliveries in less time. Use a route planner app to optimize your delivery routes, and try to group deliveries from the same restaurant or in the same area together. By using a route planner, you can increase your earnings and make the most of your time as an Uber Eats driver.

Uber Eats Delivery Methods and Vehicle Requirements

Uber Eats drivers can deliver orders using a variety of methods, including by car, on foot or bicycle, or by scooter. The method you choose will depend on your location, personal preference, and the requirements set by Uber Eats.

Uber Eats Delivery by Car

If you choose to deliver by car, you’ll need a reliable vehicle that meets the minimum requirements set by Uber Eats. These requirements include having a valid driver’s license, insurance, and registration, as well as a vehicle that’s no older than 20 years. Uber Eats also recommends having a car that’s fuel-efficient to reduce costs and maximize earnings.

Uber Eats Delivery on Foot or Bicycle

If you choose to deliver on foot or bicycle, you won’t need a vehicle, but you’ll need to meet certain requirements set by Uber Eats. These requirements include having a valid government-issued ID and a smartphone to use the Uber Eats app. You’ll also need to be able to carry orders weighing up to 30 pounds and be comfortable walking or cycling for extended periods.

Uber Eats Delivery by Scooter

If you choose to deliver by scooter, you’ll need a valid driver’s license, insurance, and registration, as well as a scooter that’s no older than 20 years. You’ll also need to have a smartphone to use the Uber Eats app, and you’ll need to be able to carry orders weighing up to 30 pounds.

It’s important to note that the requirements for delivering with Uber Eats may vary depending on your location, and it’s important to check the specific requirements in your area before signing up as a driver.

Uber Eats Driver Frequently Asked Questions

So here are the delivery rider general FAQs:

How do Uber Eats drivers get paid?

Uber Eats drivers can receive payments in several ways, including weekly deposits directly to their bank account, instant cashout, or two-day cashout. They can also see their payments in the daily summary in the app or on their partner dashboard, and they’ll receive a pay statement every Tuesday.

Is It Worth It Being An Uber Eats Delivery Driver?

Whether or not being an Uber Eats delivery driver is worth it depends on the individual driver’s preferences, location, and earning potential. Some drivers enjoy the flexibility and independence of the job, while others may struggle to earn enough to make it worth their time. It’s important to consider the expenses involved, such as gas and vehicle maintenance, and compare them to the potential earnings in your area before deciding if it’s worth it for you.

What is the Uber Eats pay structure?

The Uber Eats pay structure includes several components, such as a base fare, pickup fee, drop-off fee, and mileage fee. Drivers can also earn additional income through trip supplements, promotions, and customer tips. The pay structure may vary depending on the driver’s location and the specific terms of each delivery.

What are the Uber Eats special fees?

Uber Eats may charge special fees for certain deliveries, such as a busy fee during peak hours or a long-distance fee for deliveries outside of the driver’s typical delivery area. These fees can vary depending on the driver’s location and the specific terms of each delivery.

When does Uber Eats pay?

Uber Eats pays drivers on a weekly basis, with each pay period beginning on Monday at 4 AM and ending on the following Monday at 3:59 AM. Drivers can also receive instant cashout or two-day cashout payments if they prefer to receive their earnings more quickly.

Fraud Statistics UK

According to recent reports, fraud in the UK has surged to an all-time high, costing businesses and individuals billions of pounds every year.

Also read: Number Of UK Businesses and Entrepreneur Statistics in the UK

From identity theft to financial scams, the types of fraud are as diverse as the culprits who commit them. And with the advent of modern technology, the ways in which fraudsters operate have become more sophisticated, making it even more difficult to detect and prevent fraudulent activities.

Card Fraud UK

Value: £574m

In 2020, Remote Purchase (CNP) fraud was valued at £452.6 million, which represents a decrease of 4% from 2019.
E-commerce fraud accounted for £376.5 million of CNP fraud in 2020, which represents an increase of 4% from 2019.
Counterfeit fraud decreased by 32% from £12.8 million in 2019 to £8.7 million in 2020.
Loss & Stolen fraud decreased by 17% from £94.8 million in 2019 to £78.9 million in 2020.
Card ID Theft fraud decreased by 21% from £37.7 million in 2019 to £29.7 million in 2020.
Card non-receipt fraud decreased by 15% from £5.2 million in 2019 to £4.4 million in 2020.
The total value of fraud in the UK was £574.2 million in 2020, which represents a decrease of 7% from 2019.
In the UK, fraud abroad was valued at £159.7 million in 2020, which represents a decrease of 6% from 2019.

Card Fraud Volumes

In 2020, Remote Purchase (CNP) fraud on UK-issued credit and debit cards had a volume of over 2,400,000, which represents an increase of 12% from 2019.
Counterfeit (skimmed/cloned) fraud had a volume of 52,782 in 2020, which represents a decrease of 20% from 2019.
Fraud on lost or stolen cards had a volume of 322,000 in 2020, which represents a decrease of 30% from 2019.
Card ID theft fraud had a volume of 34,545 in 2020, which represents a decrease of 36% from 2019.
Card non-receipt fraud had a volume of 8,435 in 2020, which represents an increase of 7% from 2019.
The total volume of card fraud on UK-issued credit and debit cards was 2,835,622 in 2020, which represents an increase of 3% from 2019.

Unauthorised remote UK banking fraud

Value: £197m

Remote Banking Fraud Losses 2013-2020

In 2020, internet banking fraud had losses of £159.7 million, which represents an increase of 43% from 2019.
Telephone banking fraud had losses of £16.1 million in 2020, which represents a decrease of 32% from 2019.
Mobile banking fraud had losses of £21.6 million in 2020, which represents an increase of 41% from 2019.
The total remote banking fraud losses in 2020 were £197.3 million, which represents an increase of 31% from 2019.

Volumes 2013-2020

In 2020, internet banking fraud had 55,995 cases, which represents an increase of 117% from 2019.
Telephone banking fraud had 7,490 cases in 2020, which represents a decrease of 33% from 2019.
Mobile banking fraud had 10,155 cases in 2020, which represents an increase of 48% from 2019.
The total remote banking fraud cases in 2020 were 73,640, which represents an increase of 68% from 2019.

Romance scams UK

Value: £21m

Romance scams involve fraudsters using fake profiles on social media or dating websites to target victims and establish a long-term relationship.

Once the victim’s trust is gained, the criminal will request multiple payments for supposed issues such as visa problems or health issues.

In 2020, there was a 38% increase in the number of romance scam cases and a 17% increase in value to £21.2 million. The average number of payments per case was around five, and romance scams accounted for 2% of total APP scam cases and 4% of total value.

Only £8.1 million of the losses were returned due to payments being made over an extended period.

Romance scam cases reported 2019 – 2020

Volume:

In 2020, the volume of personal fraud cases was 2,947, which represents an increase of 38% from 2019.
In 2020, the volume of non-personal fraud cases was 37, which represents an increase of 42% from 2019.
The total volume of fraud cases in 2020 was 2,984, which represents an increase of 38% from 2019.
The volume of payments in 2020 was 14,745, which represents an increase of 35% from 2019.
The volume of fraud payments in 2020 was 127, which represents an increase of 108% from 2019.

Value:

In 2020, the value of personal fraud was £20.6m, which represents an increase of 15% from 2019.
In 2020, the value of non-personal fraud was £0.5m, which represents an increase of 388% from 2019.
The total value of fraud in 2020 was £21.2m, which represents an increase of 17% from 2019.
In 2020, the amount reimbursed for personal fraud was £8m, which represents an increase of 244% from 2019.
In 2020, the amount reimbursed for non-personal fraud was £0.1m, which represents an increase of 314% from 2019.
The total amount reimbursed for fraud in 2020 was £8.1m, which represents an increase of 244% from 2019.

Advance fee scams in the UK

Value £23m

Advance fee scam cases reported

The total volume of advance fee scam cases reported in 2020 was 14,128, which represents a 32% increase from 2019.
Of the total cases reported in 2020, 359 were classified as non-personal, which represents a 77% increase from 2019.
In 2020, the total value of reported advance fee scam cases was £23.0 million, which represents a 34% increase from 2019.
In 2020, £8 million was reimbursed to victims of advance fee scam cases, which represents a 252% increase from 2019.
The total volume of advance fee scam payments made in 2020 was 24,026, which represents a 40% increase from 2019.
Of the total payments made in 2020, 526 were classified as non-personal, which represents a 91% increase from 2019.
In 2020, the value of non-personal advance fee scam cases was £1.1 million, which represents a 13% decrease from 2019.
In 2020, the value of personal advance fee scam cases was £21.9 million, which represents a 38% increase from 2019.
In 2020, £7.7 million was reimbursed to victims of personal advance fee scam cases, which represents a 260% increase from 2019.

Resources:

Number Of Businesses in the UK

Report Highlights:

In the UK at the beginning of 2022, there were a total of 5.5 million private sector businesses.
The private sector business population has experienced a decline of 1.5% or 82,000 businesses in comparison to the year 2021.

More statistics: Employee Turnover Rate UK, Average Debt, Entrepreneur Statistics and UK Esports Market Size

Number of businesses, Employment, and Turnover

The following data presents the estimated number of businesses, employment, and turnover in the UK private sector at the start of 2022, categorized by the size of the business.

All businesses in the UK private sector employed approximately 5.5 million people and generated a turnover of £4.16 trillion.
Small and medium-sized enterprises (SMEs) in the UK private sector employed over 5.5 million people and generated a turnover of £2.12 trillion.
Small businesses with 0-49 employees in the UK private sector employed over 5.4 million people and generated a turnover of £1.42 trillion.
Businesses with no employees in the UK private sector employed over 4 million people and generated a turnover of £278 million.
All employers in the UK private sector employed over 1.4 million people and generated a turnover of £3.88 trillion.
Employers with 1 to 9 employees in the UK private sector employed over 1.1 million people and generated a turnover of £530 billion.
Businesses with 10 to 49 employees in the UK private sector employed over 200,000 people and had a turnover of £609 billion.
50 to 249 employee businesses in the UK private sector employed over 35,000 people and generated a turnover of £708 billion.
Employers with 250 or more employees in the UK private sector employed over 7,000 people and generated a turnover of £2.03 trillion.

The contribution of large businesses in the UK to employment and turnover is significant, but SMEs continue to dominate the private sector, accounting for three-fifths of the employment and around half of the turnover; at the beginning of 2022:

Total employment in SMEs was 16.4 million, which accounts for 61% of the total employment, and the estimated turnover was £2.1 trillion, representing 51% of the total turnover.
Employment in small businesses was 12.9 million (48%) with a turnover of £1.4 trillion (34%).
Employment in medium-sized businesses was 3.5 million (13%) with a turnover of £0.7 trillion (17%).
Employment in large businesses was 10.6 million (39%) with a turnover of £2.0 trillion (49%).

UK Private Sector

In the UK private sector, there are three main legal forms of businesses: sole proprietorships, ordinary partnerships, and companies, with sole proprietorships being the most common form. At the beginning of 2022:

The private sector business population consisted of 3.1 million sole proprietorships, representing 56% of the total, 2.1 million actively trading companies (37%), and 353,000 ordinary partnerships (6%).
1.1 million companies, 220,000 sole proprietorships, and 95,000 ordinary partnerships were employers.
2.9 million sole proprietorships, 932,000 companies, and 257,000 ordinary partnerships did not employ anyone aside from the owner(s).

Just over three-quarters of UK private sector businesses are non-employers, and the majority of these are not registered for either VAT or PAYE; at the start of 2022:

The Office for National Statistics recorded 2.7 million private sector businesses as registered for VAT or PAYE, which is 49% of the estimated total population.
2.8 million businesses (51%) traded without being registered for VAT or PAYE and are classified here as ‘unregistered’.
14% of sole proprietorships and 52% of ordinary partnerships were registered for VAT or PAYE.

Business Population Trends

Regarding trends in the business population between 2000 and 2022:

The business population increased by 2.0 million (59%).
The highest rate of increase was 6.8% between 2013 and 2014, followed by 6.7% between 2003 and 2004.
In contrast, the decrease of 1.5% between 2021 and 2022 is only the third decrease in the series, all of which have occurred since 2017. The largest decrease was 6.5% between 2020 and 2021.
Between 2021 and 2022, the total business population decreased by 82,000 (1.5%), with 32,000 more (2.3%) employing businesses and 114,000 fewer (2.7%) non-employing businesses.
The decrease in non-employing businesses resulted from a decrease of 98,000 (3.3%) unregistered businesses, and a decrease in non-employing registered businesses of 16,000 (1.3%).

Non-employing and employing businesses in the UK (Private Sector)

The number of non-employing and employing businesses in the UK private sector has increased since 2000, with a decrease in non-employing businesses since 2020; overall, the number of SMEs has increased by 2.0 million (59%) since 2000, including 336,000 SME employers (30%).

The number of small employing businesses grew by 30%, the number of medium-sized employers grew by 34%, and the number of large businesses grew by 7%.
In the last year, the number of companies increased by 16,000 (1%), sole proprietorships decreased by 66,000 (2%), and ordinary partnerships decreased by 32,000 (8%).
Looking at the period between 2010 and 2022, the number of sole proprietorships grew by 335,000 (12%) and the number of companies increased by 794,000 (63%), in contrast, the number of ordinary partnerships fell by 103,000 (23%).

Employment Trends

Total employment across all private sector businesses increased from 27.0 million at the start of 2021 to 27.1 million at the start of 2022, an increase of 0.3%.
The SME share of total employment was 61% in 2022.
Total employment in SMEs increased from 16.3 million at the start of 2021 to 16.4 million at the start of 2022, an increase of 0.6%.

UK Business Regions

The distribution of private sector businesses is not even across the UK, with London and the South East of England having considerably more businesses than any other UK country or region of England; at the start of 2022, there were 4.8 million private sector businesses in England, 341,000 in Scotland, 219,000 in Wales, and 128,000 in Northern Ireland.

London (1.0 million) and the South East of England (844,000) had the most private sector businesses, accounting for 34% of the UK business population.
The North East had the fewest private sector businesses among the English regions (155,000).
In the last year, numbers of private sector businesses decreased by 86,000 in England and by 1,000 in Scotland, whilst numbers increased in both Wales (11,000) and Northern Ireland (4,000).
Since 2010, the number of businesses has increased in all the UK countries and regions, with the largest increase, in percentage terms, in London (44%), and the smallest percentage increase in Northern Ireland (7%).
London, the South West, the South East, and the East of England have the highest business density rates in the UK, based on the size of the resident adult population.
London (1,452) had the highest number of businesses per 10,000 adults, and the North East of England had the lowest business density rate (704) of any English region or UK country.

Women and UK Businesses

As of February 2022, 39.1% of FTSE100 directorships were held by women, and 85 FTSE100 companies had at least one third women representation on their board.
In the same period, 36.8% of FTSE250 directorships and 37.6% of FTSE350 directorships were held by women.
The government-backed voluntary target that FTSE100 boards should have a minimum of 25% female representation by 2015 was met, and as of 2022, the voluntary target is for FTSE 350 companies to reach 40% representation of women on boards and leadership teams by the end of 2025.
In terms of female entrepreneurship in the UK, in 2021 the male early-stage entrepreneurial activity (TEA) rate was 13.2%, and the female rate was 9.7%, with a female to male entrepreneur ratio of around 3 to 4 (73%).
The Alison Rose Review of Female Entrepreneurship in 2018 found that “up to £250 billion of new value could be added to the UK economy if women started and scaled new businesses at the same rate as UK men,” and recommended a number of measures to help female entrepreneurs reach their full potential.

Ethnic Groups in UK Businesses

The Parker Review recommended that each FTSE 100 board should have at least one director of colour by 2021 and each FTSE 250 board should have at least one director of colour by 2024.
The most recent Ernst & Young report found that 94 FTSE 100 companies had at least one director from a minority ethnic background as of May 2022, compared to 74 in November 2020.
11 FTSE 100 companies had no minority ethnic directors on their boards as of December 2021.
128 FTSE 250 companies had minority ethnic representation on their boards as of December 2021.
Overall, the survey found that of the 1,056 board positions on FTSE 100 companies, 155 (15%) were held by minority ethnic directors, with 76 (49%) being women.
All FTSE 100 companies responded to the survey, compared to 95 in November 2020.

Sources:

Wealthfront UK Review

Have you ever felt like you’re missing out on all the juicy trading action happening around you?

Are you tired of being the only one in your friend group not raking in the big bucks from your investment portfolio?

Enter Wealthfront – the app that makes trading stocks as easy as swiping right on a dating app (minus the heartbreak, of course).

But don’t let its simplicity fool you, this app is the real deal, with features that’ll make even the most seasoned investor drool with envy.

From tax-loss harvesting to automatic rebalancing, Wealthfront has got it all. So why not give it a go? Who knows, maybe you’ll finally be able to afford that yacht you’ve been eyeing for the past decade.

Okay, maybe not, but it’s worth a shot, right?

Is Wealthfront available in the UK?

The answer is no, Wealthfront is not available in the UK. This trading platform is only open to US traders, which means you’ll have to find another way to boost your portfolio.

It’s a bummer, but there are plenty of other apps out there that cater to the UK market. Let’s find you a different app.

Wealthfront UK Alternatives

The best Wealthfront alternative for you will depend on your specific investment goals and preferences. eToro might be a good pick for beginners.

My Personal Experience with Wealthfront UK

I have to say, I was a bit skeptical at first, but after doing my due diligence and reading all the glowing reviews, I decided to give it a try. And let me tell you, I was not disappointed.

Easy To Use

One of the things I love most about Wealthfront is its ease of use. It took me all of 10 minutes to set up my account, and I was off to the races.

The app’s clean and intuitive interface made it easy to navigate, even for a tech dinosaur like myself. And the fact that it’s completely automated means I can just sit back, relax, and let the app do all the heavy lifting.

Low Fees

Another thing I appreciate about Wealthfront is its low fees. As someone who’s always looking for ways to save a few bucks, the fact that I can invest my money without paying an arm and a leg in fees is a huge plus.

And with features like tax-loss harvesting and automatic rebalancing, I can rest easy knowing my portfolio is in good hands.

Of course, no app is perfect, and I did run into a few hiccups along the way. But overall, my experience with Wealthfront has been a positive one.

If you’re looking for a simple, hassle-free way to invest your money, I’d definitely recommend giving it a try, but only if you are not from the United Kingdom.

Wealthfront UK Review

Unfortunately Wealthfront does not accept traders from the UK.

Trading Platform

First things first, let’s talk about the trading platform. In a word, it’s fantastic. The interface is sleek and easy to navigate, which is a huge plus in my book.

And the fact that it’s completely automated means you don’t have to worry about manually executing trades – the app does it all for you. Plus, features like tax-loss harvesting and automatic rebalancing make it easy to keep your portfolio in tip-top shape.

Support Team

Next up, let’s talk about the support team. I have to say, I was thoroughly impressed with the level of customer service I received from Wealthfront.

The support team was quick to respond to my inquiries and was always helpful and friendly. And the fact that they offer support via email, phone, and chat means you can get in touch with them in whatever way is most convenient for you.

Payment Options

Last but not least, let’s talk about payment options. Wealthfront makes it easy to fund your account using a variety of payment methods, including bank transfers, wire transfers, and even account transfers from other investment accounts. And the fact that they don’t charge any fees for deposits or withdrawals is a huge plus in my book.

Is My Money Safe With Wealthfront?

Yes, Wealthfront is a safe trading platform. It is registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA).

This means that they’re held to strict regulatory standards and are required to maintain certain levels of capital and liquidity to ensure the safety of their clients’ funds.

Plus, all client accounts are insured up to $500,000 by the Securities Investor Protection Corporation (SIPC). So, rest easy, my friends – your money is in good hands.

Is Wealthfront a Good Broker?

Well, in my humble opinion, the answer is a resounding yes.

With low fees, automated trading, and features like tax-loss harvesting and automatic rebalancing, Wealthfront is a fantastic option for those looking to dip their toes into the world of investing.

And the fact that they’re registered with the SEC and a member of FINRA means that they’re held to strict regulatory standards, ensuring the safety of your funds.

Of course, no broker is perfect, and there are always going to be pros and cons to any platform.

But overall, I think Wealthfront is a fantastic option for those looking for a simple, hassle-free way to invest their money. So why not give it a try and see for yourself?

Who knows, maybe you’ll be the next investing wizard. Or, you know, just really good at investing in cat videos. The choice is yours!

Verdict

All in all, I have to say that my experience with Wealthfront has been overwhelmingly positive.

If you’re looking for a hassle-free way to invest your money, this app is definitely worth checking out. So go ahead, give it a try, and see for yourself why so many people swear by it.

Who knows, maybe you’ll be the next investment wizard. Or, you know, just really good at investing in snacks. The possibilities are endless!

Public.com UK Review

Are you tired of feeling like a financial underdog? Do you dream of rubbing elbows with the Wall Street elite? Well, listen up, because I’ve got the inside scoop on a trading app that could be your ticket to the big leagues – Public.com.

Public is the trading app for the people.

It’s like Robinhood, but without all the sketchy shenanigans.

With Public, you can invest in your favorite companies and ETFs, and follow your friends’ portfolios to see what they’re up to. Plus, you’ll get access to a community of like-minded investors who are just as obsessed with the stock market as you are.

But that’s not all – Public also offers a social feature that lets you chat with other investors about hot stock tips, trading strategies, and the latest news. So not only will you be making bank, but you’ll also be making friends. Talk about a win-win.

So, if you’re ready to join the ranks of the finance elite and start trading like a pro, give Public a try. Your portfolio (and your social life) will thank you.

Is Public.com available in the UK?

Now, I know what you’re thinking – “Public sounds amazing, but is it available in the UK?” And honestly, that’s a great question. After all, the Brits have been making some major money moves lately (hello, GameStop).

Unfortunately, at the moment, Public is only available to our friends across the pond in the US.

But don’t worry, there’s still hope. The Public team has mentioned that they’re planning on expanding internationally in the near future, so keep your eyes peeled.

In the meantime, if you’re itching to get in on the stock-trading action, there are plenty of other apps available in the UK that offer similar features. Apps like Trading 212 and eToro are great options to check out.

My Personal Experience with Public.com

You’re probably wondering – does it actually live up to the hype?

Well, as a self-proclaimed stock market enthusiast (read: obsessive), I decided to give it a try and see for myself.

The Interface

First things first, I have to say that I was impressed with Public’s user interface. It’s clean, intuitive, and easy to navigate. Plus, the social features make it feel like you’re part of a community, rather than just another anonymous user.

Assets

But let’s talk about what really matters – the investing. I was pleased to see that Public offers commission-free trading on stocks and ETFs. This is a huge plus, especially for those of us who don’t have thousands of dollars to invest (yet). Plus, the ability to follow other investors and see what they’re buying and selling is a nice added bonus.

Tools

Now, I will say that Public’s research and analysis tools aren’t quite as robust as some of the other investing apps out there. If you’re looking for in-depth financial analysis and data, you might want to consider another platform. But for the average investor who just wants to buy and sell stocks, Public is more than sufficient.

This Is What I Think

Overall, my personal experience with Public was a positive one. It’s a great option for new investors who are just starting out, as well as more experienced traders who are looking for a community to connect with. Plus, it’s just plain fun. Who knew that investing could be a social activity?

Public.com UK Review

This app has got some serious spunk.

First off, let’s talk about the good stuff. As I mentioned before, Public’s interface is slick and easy to use. Plus, the social aspect of the app is a total game-changer. Being able to chat with other investors, see what they’re buying and selling, and even copy their trades is pretty darn cool.

Commission-free Trading

I also appreciate that Public offers commission-free trading. It’s a major plus, especially for those of us who are just starting out and don’t want to get hit with high fees. And the fact that Public doesn’t sell order flow is a big deal, too. It means that your trades won’t be used to benefit the big hedge funds (ahem, Robinhood).

Disadvantages

But of course, there are a few downsides. One thing I noticed is that Public’s research and analysis tools aren’t as extensive as some of the other investing apps out there. If you’re looking for super in-depth financial data, you might want to consider another platform. And while the selection of stocks and ETFs is decent, it’s not quite as wide-ranging as some of the other apps.

Payment Methods

Let’s talk about payment options. Public has got you covered. They’ve got everything from good ol’ bank transfers to wire transfers and even instant deposits. That’s right, you can start trading faster than you can say “I’m a Wall Street wiz-kid!”

Customer Support

Public’s got your back here, too. They’ve got all the usual channels like email and phone, but they’ve also got a fancy-schmancy live chat feature. And the reps are so friendly and helpful, you’ll feel like you’re chatting with your new bestie.

Now, I don’t want to rain on Public’s parade, but there have been some reports of delays with deposits and withdrawals. And while the customer service is usually on point, there have been a few snafus with response times. But hey, nobody’s perfect, right?

Overall, I’d say that Public does a solid job with payment options and customer support. They make it easy to fund your account, and they’re always there to lend a helping hand (or an ear, as the case may be). So if you’re looking for an app that’s got your back (and your wallet), give Public a try.

Verdict

While Public might not be available in the UK just yet, there are plenty of other options to explore. But if you’re patient and willing to wait, who knows – maybe someday you’ll be able to join the Public party from across the pond.

Public is a solid option for anyone who’s looking to get into investing. It’s especially great for those who want to be part of a community and connect with other like-minded traders. And the fact that it’s commission-free and doesn’t sell order flow is a major plus. So if you’re ready to dip your toes into the stock market, give Public a shot. Who knows – you might just become the next Wolf of Wall Street (minus the whole fraud and crime thing, of course).