The beauty industry is a melting point of creativity, entrepreneurship and opportunity, driven by small businesses
From independent salons and mobile therapists to innovative consumer brands and niche manufacturers, SMEs form the backbone of the beauty industry. 78% are micro businesses (those employing fewer than 5 people) and 95% small businesses (less than 10).
What’s more, according to the Value of Beauty report, the number of SMEs has increased by 25% since 2015, five times faster than the number of small businesses formed in the manufacturing industry in the same period.
This Small Business Saturday, the British Beauty Council is spotlighting resources that small businesses might find useful for growth and success:
Invest in Women Taskforce:
Knowing that 81%of beauty’s workforce are women as are over 86% of business-owners, the Invest in Women Taskforce is addressing the gender gap for those trying to access capital. The Taskforce has so far convened over half a billion pounds in funding from seven leading investors: Barclays, M&G, The British Business Bank, Morgan Stanley, BGF, The Visa Foundation and Aviva.
You can find out more about investors and investing here. The infographic below also uncovers how the organisation works:
British Business Bank Finance Finder:
From delivering the Coronavirus support schemes during the pandemic, to supporting over 100,000 entrepreneurs via its Start Up Loans, the British Business Bank uses its expertise to inspire, inform, and enable businesses at every step of their journey.
Its Finder Finance Tool helps businesses explore tailored finance options quickly and easily. Find out more and use the tool here.
Local Growth Hubs
Growth Hubs help businesses and entrepreneurs unlock their potential by providing access to tailored business advice, online resources and routes to funding.
Whatever the stage of your business journey, be it the spark of entrepreneurism or ambitions to scale internationally, your local Growth Hub, provides access to expert guidance, enabling you to seize new opportunities and overcome any barriers to growth.
You can find your local Growth Hub here.
You can learn about more resources here.
