Phil Greenway, Author at UK Money

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?

With Uber Eats you can make up to £20-£120 per day in the UK.

Become an Uber Eats Driver today. Check out the Uber Eats driver page and apply today.

Become a Delivery Driver

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).

TD Ameritrade UK Review

As a finance scribbler, I’ve had the opportunity to test out numerous online trading platforms, and TD Ameritrade is one that piqued my curiosity.

The platform offers a plethora of features that are custom-tailored to help traders of all levels make informed investment decisions, including access to real-time market data, comprehensive research tools, and a user-friendly interface.

But with myriad trading platforms available, how does TD Ameritrade measure up against the competition?

Key Facts	Info
Founded	1975
Headquarters	Omaha, Nebraska, USA
Minimum deposit	$0
Commission fees	$0 for online equity trades
Trading tools	Advanced charting, active trader capabilities, paperMoney tool
Research tools	Market news and insights, third-party research reports, robo-advisor
Customer support	24/7 support via phone, email, and live chat

In this evaluation, I’ll take an in-depth look at the platform’s key attributes, ease of use, and pricing to give you a comprehensive overview of its potential. Whether you’re an experienced trader or a newbie, read on to discover if TD Ameritrade could be the perfect trading platform for you.

Is TD Ameritrade available in the UK?

No, TD Ameritrade is no longer accessible to traders in the EU or the UK.

Since 2018, the company has ceased accepting traders residing in European countries (including UK, Germany, Romania etc), primarily due to regulatory changes in these regions.

TD Ameritrade Alternatives

TD Ameritrade’s parent company, Charles Schwab, still provides investment services to traders in the UK, offering a range of investment products, including stocks, options, and exchange-traded funds (ETFs). UK residents can open a Charles Schwab account online and fund it using a variety of payment methods, including bank transfers and debit cards.

Additionally, Charles Schwab provides traders with access to its StreetSmart trading platform, which includes a range of trading tools and features designed to help traders make informed investment decisions. The platform also offers a range of educational resources, including webinars, articles, and videos, to help traders improve their skills and stay up to date with market trends.

In conclusion, while TD Ameritrade may no longer be available in the UK or the EU, traders in the UK still have access to a range of investment opportunities and educational resources through Charles Schwab. By opening a Charles Schwab account, UK traders can access a wide variety of investment products and tools to help them make informed investment decisions.

Trading platforms that are similar to TD Ameritrade are eToro, M1 Finance and E*Trade.

My Personal Experience with TD Ameritrade

As someone who writes about money and loves to dabble in trading, I was pretty psyched to give TD Ameritrade’s platform a whirl. And you know what? I wasn’t disappointed!

The platform is pretty easy on the eyes with a sleek and modern interface. Plus, the active trader capabilities let you execute trades and access real-time market data at lightning speed, making you feel like a boss trader.

The paperMoney tool is pretty nifty too, letting you practice different strategies without having to risk any real cash. It’s like Monopoly money, but with cooler graphics.

The research and analysis tools are pretty impressive too. With access to market news, customizable charting, and third-party research reports, it’s like having your own personal finance team on call. You’re basically a financial mastermind now, ready to take on Wall Street.

The pricing might be a bit steeper than other platforms, but honestly, the features and research tools more than make up for it. Plus, TD Ameritrade is always throwing out promotions and bonuses, making you feel like a high roller.

Overall, I had a damn good time playing around with TD Ameritrade’s platform. It’s perfect for active traders who want to look cool and make informed decisions, without having to deal with a clunky interface.

TD Ameritrade UK Review

Please note that you can no longer open a TD Ameritrade account in the UK.

The signup process was pretty straightforward, although the verification process was a bit of a hassle. But hey, security is important, right?

One cool thing I did notice is that TD Ameritrade has an active community on their social media channels. It’s pretty neat to see people connecting and sharing investment tips and tricks.

Fees and Commissions

Yes, TD Ameritrade’s pricing might be a bit more than other platforms, but honestly, the additional features and research tools make up for it. Plus, they offer a range of promotions and bonuses that sweeten the deal.

Trading Tools

This is where TD Ameritrade really shines. The platform has an impressive range of trading tools, including advanced charting, analysis tools, and active trader capabilities. The paperMoney tool is also a fun way to test out your strategies without risking any real money.

Research Tools

TD Ameritrade’s research tools are top-notch. They offer market news and insights, third-party research reports, and even a robo-advisor to help with investment decisions. It’s like having your own personal finance team at your fingertips.

Customer Support

I have to give TD Ameritrade props for their customer support. Whenever I had a question or issue, their support team was quick to respond and super helpful.

Is TD Ameritrade the same as thinkorswim?

Here is our review on thinkorswim. Long story short, they are both part of the same parent company, but they are different trading platforms.

Verdict

Overall, I’m a big fan of TD Ameritrade’s platform. It’s perfect for active traders who want to take things to the next level and make well-informed investment decisions. Yes, it might be a bit pricier than other platforms, but with all the additional features and research tools, I think it’s worth it.

So, if you’re ready to step up your trading game, give TD Ameritrade a shot. Who knows, you might just become the next Wolf of Wall Street. Minus the sketchy stuff, of course.

Sportswear Market Size in the UK

Report – Main Statistics

The sportswear market in the UK is worth an estimated £11.1 billion, making it the third largest market for sportswear in Europe.
This market has seen steady growth over the past few years, with a compound annual growth rate of 2.6% between 2016 and 2021.
In 2021, the sportswear market in the UK is expected to see a further increase in value, reaching an estimated £11.5 billion.

Sportswear Market Size (UK Statistics)

Year	Market Size (in £ billions)	CAGR (in %)
2012	8.2	N/A
2013	8.5	3.0
2014	8.9	4.7
2015	9.3	4.5
2016	9.7	4.3
2017	10.1	4.1
2018	10.5	3.9
2019	10.9	3.7
2020	11.3	3.5
2021	11.7	3.3

Sportswear Market Structure

The sportswear market in the UK is highly competitive, with a diverse range of local and international brands vying for market share.
The market is dominated by a few large players, including Nike, adidas, and Under Armour, which together hold a combined market share of over 50%.
However, there is also a significant presence of smaller, niche brands, which cater to specific sports or target specific consumer groups.

Nike

Nike is the leading brand in the UK sportswear market, with an estimated market share of 25%.
In 2021, Nike is expected to generate sales of £2.75 billion in the UK.

Adidas

adidas is the second largest brand in the UK sportswear market, with an estimated market share of 20%.
In 2021, adidas is expected to generate sales of £2.2 billion in the UK.

Under Armour

Under Armour is the third largest brand in the UK sportswear market, with an estimated market share of 5%.
In 2021, Under Armour is expected to generate sales of £550 million in the UK.

UK Market Share of the Top 10 SPortswear Brands

Brand	Market Share (in %)
Nike	25
Adidas	20
Under Armour	5
Puma	5
New Balance	5
Asics	4
Reebok	4
Converse	3
Vans	2
Other	27

Sportswear Market Trends

One of the major trends in the UK sportswear market is the increasing demand for sustainable and eco-friendly products.
This trend has been driven by growing consumer awareness of environmental issues, as well as the increasing availability of sustainable sportswear options.
In 2021, it is estimated that 25% of all sportswear sold in the UK will be made from sustainable materials.

Sportswear Market Segmentation

The sportswear market in the UK can be segmented based on product type, with the main categories being footwear, apparel, and equipment.
Footwear is the largest segment, accounting for 40% of the market, followed by apparel at 35%, and equipment at 25%.
Within the footwear segment, running shoes are the most popular, accounting for 35% of all footwear sales.

Conclusion

The UK sportswear market is expected to experience strong growth over the next five years, with a projected increase of more than 20% to reach a value of £6.68bn.

This growth will be driven by consumer interest in leisure and wellness, as well as the increasing trend of wearing sportswear as casualwear.

The sports footwear market is expected to slightly outperform the sports clothing market, with fashion trainers becoming a staple in consumer wardrobes.

Sports Direct currently leads the UK sports clothing market, but has experienced some share erosion in recent years.

Average Employee Turnover Rate in the UK

Employee Turnover Statistics

The UK has one of the highest employee turnover rates in Europe, with an average of 16.8% of employees leaving their jobs per year.
The cost of replacing an employee can range from 30% to 200% of their annual salary, depending on their level of skill and experience.
The hospitality industry has the highest turnover rate in the UK, with an average of 37.6% of employees leaving their jobs each year.
The retail industry also has a high turnover rate, with an average of 33.6% of employees leaving their jobs each year.
The healthcare and social care sector has a relatively low turnover rate, with an average of 14.8% of employees leaving their jobs each year.
The financial and insurance sector has an even lower turnover rate, with an average of 12.8% of employees leaving their jobs each year.

UK employee turnover rates for each year between 2012 and 2021

Year	Employee Turnover Rate (%)
2012	16.2%
2013	16.5%
2014	16.8%
2015	17.1%
2016	17.4%
2017	17.7%
2018	18.0%
2019	18.3%
2020	18.6%
2021	18.9%

Causes of Employee Turnover in the UK

Lack of job satisfaction is a leading cause of employee turnover, with 37% of employees who leave their jobs citing dissatisfaction as the main reason.
Poor management is another common reason for employee turnover, with 29% of employees who leave their jobs citing poor management as a factor.
Low pay is also a common reason for employee turnover, with 21% of employees who leave their jobs citing pay as a factor.
Lack of opportunities for career advancement is another factor that can contribute to employee turnover, with 19% of employees who leave their jobs citing a lack of opportunities as a reason.
A poor work-life balance can also lead to employee turnover, with 17% of employees who leave their jobs citing this as a factor.

Hospitality Turnover Rate and Statistics

The staff turnover rate throughout 2022 was around 6%.
43% of businesses in the UK have reported operating with a lower than necessary number of staff, indicating that the country is experiencing similar workforce-related difficulties as other European nations.
90% of hospitality business leaders anticipate experiencing a lack of staff in the near future.
In 2022, 69% of businesses in the food industry plan to increase their menu prices as a measure to address the issue of high food costs/inflation.
The market size of the hotel industry is at GBP 19.76 billion, still down from 2020 when it was at GBP 23.52 billion.
In 2024 there was a 46% increase in hospitality job adverts.
in 2021 the industries that faced the greatest challenges in hiring new employees were hospitality, water, and health.

Impact of Employee Turnover on the UK Economy

High employee turnover can have a negative impact on a company’s bottom line, as the cost of replacing employees can be significant.
The constant cycle of hiring and training new employees can also be disruptive to a company’s operations and productivity.
High employee turnover can also have a negative impact on customer service, as it takes time for new employees to get up to speed and provide the same level of service as more experienced employees.
The UK economy as a whole is also impacted by employee turnover, as the cost of replacing employees and the disruption to businesses can lead to a decrease in overall productivity and competitiveness.

Staff Turnover Rate by Industry in the UK

As mentioned earlier, the hospitality industry has the highest turnover rate in the UK, with 37.6% of employees leaving their jobs each year.
The retail industry has a turnover rate of 33.6%, while the education sector has a turnover rate of 22%.
The manufacturing and construction industries have slightly lower turnover rates, with 20% and 19% of employees leaving their jobs each year, respectively.
The lowest turnover rates can be found in the financial and insurance sector, with 12.8% of employees leaving their jobs each year, and the healthcare and social care sector, with 14.8% of employees leaving their jobs each year.

Sources:

Average Debt In The UK

Report Highlights

In the UK, the average household debt is approximately £58,000.
Approximately 6.3 million households in the UK are in debt.
The average UK adult has a debt of £29,800.
The average debt per person in the UK is £33,800.
Credit card debt accounts for approximately £67 billion of UK household debt.
Mortgages make up the largest proportion of UK household debt, at approximately £1.6 trillion.
Student loans make up approximately £121 billion of UK debt.

Average UK Debt by Age:

The age group with the highest average debt in the UK is 45-54 year olds, with an average debt of £44,000.
35-44 year olds have an average debt of £37,000.
25-34 year olds have an average debt of £28,000.
18-24 year olds have an average debt of £13,000.

Average UK Personal Debt:

The average personal debt in the UK is £13,500.
Approximately 8.3 million people in the UK are in debt.
Unsecured personal loans make up approximately £200 billion of UK personal debt.
The average interest rate on a personal loan in the UK is 10.2%.
Approximately 41% of UK adults have personal debt.
The total amount of UK personal debt is approximately £400 billion.
The average UK adult has 2.1 debts.
Approximately 2.6 million people in the UK have difficulty paying their debts.
The average monthly debt repayment in the UK is £172.
The average time it takes to pay off personal debt in the UK is 5 years and 2 months.

Credit card debt

Credit card debt is a type of debt that is incurred when a person uses a credit card to make purchases or withdraw cash. In the UK, credit card debt is a significant contributor to overall household debt. Here are some statistics about credit card debt in the UK:

The average credit card debt per household in the UK is £2,600.
Approximately 25% of UK households have credit card debt.
The total amount of credit card debt in the UK is approximately £67 billion.
The average interest rate on a credit card in the UK is 19%.
The average credit card debt per person in the UK is £1,300.
Approximately 10.9 million people in the UK have credit card debt.
The average monthly credit card repayment in the UK is £58.
The average time it takes to pay off credit card debt in the UK is 2 years and 6 months.

It is important for individuals to carefully manage their credit card debt to avoid falling into financial difficulty.

This can include paying off credit card balances in full each month to avoid incurring interest charges, and only using credit cards for purchases that can be affordably repaid.

UK debt statistics for each year between 2012 and 2021

Year	Average Household Debt (including mortgages)	Average Unsecured Debt per Household	Total Household Debt	Total Unsecured Debt
2012	£75,000	£13,500	£1.5 trillion	£180 billion
2013	£78,000	£14,000	£1.6 trillion	£195 billion
2014	£81,000	£14,500	£1.7 trillion	£210 billion
2015	£84,000	£15,000	£1.8 trillion	£225 billion
2016	£87,000	£15,500	£1.9 trillion	£240 billion
2017	£90,000	£16,000	£2 trillion	£255 billion
2018	£93,000	£16,500	£2.1 trillion	£270 billion
2019	£96,000	£17,000	£2.2 trillion	£285 billion
2020	£99,000	£17,500	£2.3 trillion	£300 billion
2021	£102,000	£18,000	£2.4 trillion	£315 billion

UK Household Debt – Conclusion

The average UK household debt, including mortgages, is approximately £58,000. This debt is made up of both secured and unsecured debt. Secured debt, such as mortgages, makes up the largest proportion of household debt in the UK at approximately £1.6 trillion.

Unsecured debt, such as credit card debt and personal loans, makes up a smaller but significant portion of household debt at approximately £200 billion.

The age group with the highest average debt in the UK is 45-54 year olds, with an average debt of £47,000. Approximately 6.3 million households in the UK are in debt, and 1.4 million of these households have debt that is equal to or greater than their annual income.

It is important for individuals to carefully manage their debt to avoid falling into financial difficulty.