We are pleased to announce that the insights of Payrow's co-founders, Aleksei Glukhov and Evgeny Mishchenko, have been featured in London Insider's latest article, 2024 Mid-Year FinTech Trends: How Accurate Were the Predictions? This in-depth piece explores the progress of the global FinTech market, which was valued at $294 billion in 2023 and is forecasted to grow to $1.15 trillion by 2032. It also highlights key trends in the UK, where FinTech investments reached $2 billion in the first half of 2024.

With the victory of Keir Starmer in the General Election on the 4th of July, 2024, there’s been a palpable wave of optimism sweeping through British businesses. According to the Lloyds Bank Business Barometer, a survey that has been running for 30 years, business confidence has surged to its highest level in seven years. However, this raises an important question: does this newfound optimism align with the broader economic reality, or is it a temporary boost fuelled by political change?

We are thrilled to announce that the insights of Payrow’s co-founder, Evgeny Mishchenko, on enhancing the investment climate and the pivotal role of government in drawing investments to the UK’s FinTech sector, have been featured on InsiderMonkey.

The FinTech sector, once the cornerstone of the UK’s innovation economy, has consistently attracted significant investment. However, recent years have seen a shift. FinTech start-ups are grappling with mounting challenges, while the climate crisis has become the foremost global issue, redirecting investment towards the energy sector, now the leading recipient of funding.

Businesses need to keep up with all changes regarding taxes and employee deductions. This is a way to comply with legislation and ensure your company has a clean reputation. It’s also a factor to consider in budgeting, scaling planning, and financial reporting. Individuals also need to know how much of their income will be deducted for taxes and pension contributions.

There were already two NI cuts in January and April 2024, and some political parties plan to make more changes in the future. In this article, we’ll look at what NI and income tax are, how much you have to pay, and what adjustments to NI rates were made. We’ll also explore what NI rate changes were proposed.

Competitive analysis is a detailed study of the other players in your industry, often with a view to comparing them with your own brand. What exactly we analyse by implementing competitor analysis strategies depends on the business objectives. It can include trade offers, pricing, assortment, customer relations, profits, turnover, loyalty programmes, sales channels, and advertising.

Applying this method is necessary if you are determined to make your offer highly competitive.

When an entrepreneur launches a startup, they need to analyse whether their idea is working and generating money. This is essential not only to see their income, but also to calculate costs and revenues and understand how profitable their venture is. The same approach is used by experienced businesspeople to determine how customers perceive updates, new features, products, or services.

If the business is growing, financial analysis is essential. Planning, strategic decisions, and budgeting depend on the results of that study. Surprisingly, only 54% of small businesses have an official budget and list expenses and income sources, according to Clutch’s survey. Not all of them use unit economics for their calculations. However, doing so is worth it because it provides many benefits. For example, it is used to count some useful business metrics like contribution margins and profitability ratios.

While businesses are preparing for threats, ordinary British citizens are not as proactive about their online safety. Nearly 9 out of 10 adults in the UK have encountered scams in various forms of content, and 46% have actually been scammed. In 2023 alone, according to the latest figures from UK Finance, there were nearly three million cases of fraud, with around £1.2 billion stolen from consumers.

In this article, we’ll examine why almost half of British adults still believe scammers, how people get tricked, and what tactics scammers use.

The ongoing struggle of small and medium-sized enterprises (SMEs) in the UK to secure necessary financing has led to significant business disruptions, with nearly a third (31%) of these businesses forced to halt or pause critical activities. This issue, highlighted by recent research commissioned by Manx Financial Group PLC, underscores the pressing need for innovative financial solutions and government intervention to support this vital sector of the economy.

It is typical practice for businesses to share an accurate estimate of the cost of a project before a transaction. That is, state what goods will be delivered, what services will be performed, how much the work of a particular specialist will cost, and what the total will be.

In this article, we’ll explain the meaning of proforma invoices, why they are needed, what they should include, and how they differ from regular invoices. We’ll answer the most common questions and share recommendations for automating proforma generation.

A recent article published in the Yorkshire Post highlighted the dynamic evolution of Yorkshire’s Small and Medium Enterprises (SMEs) and FinTech sectors. The region is rapidly transforming into a business powerhouse, showcasing remarkable growth and potential.

Aleksei Glukhov, co-founder of Payrow, offers valuable insights into how favourable conditions, technological advancements in FinTech, and supportive companies are empowering small businesses in the North of England.