Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Start-ups hit the brakes on hiring as costs soar

by August 15, 2022
August 15, 2022
Start-ups hit the brakes on hiring as costs soar

Cash-strapped start-ups are slowing recruitment and ripping out unnecessary costs this year as rising costs batter the bottom line, top investors said today.

Soaring inflation in the UK is squeezing venture-capital backed firms, which most often operate at a loss, causing bosses to slow down hiring and mull shifting some roles to contractors.

“Startups have never been quick to hire and expand but growing costs are creating more of a challenge,” said Stephen Page, boss of seed-stage investor SFC Capital

“Hiring is delayed and alternative employment methods are considered, such as outsourcing and subcontracting or working on a freelance basis to get things done.”

The latest inflation print in the UK hit by 9.4 per cent, with predictions that it could hit 13 per cent in October driven by a spike in energy prices which have ramped up costs for firms across the country.

In three months to June, a squeeze on expenses this year caused UK job listings to plunge  according to tech startup recruitment platform Otta, with 20 per cent fewer new job listings posted on the site and the amount of live roles falling  by 13 per cent.

Seb Wallace, investment director of Triple Point, said hiring was being hit by the squeeze on costs.

“Across the board, we are seeing startups be more purposeful with hiring. Required hires are still being made, but there is less room for mishires in a tight labour market where salaries are increasing,”

“Startups are therefore thinking carefully about who they bring on board and the value they can offer.”

Wallace said that salaries are and “always have been” the key early-stage cost pressure in UK, with soaring inflation now exacerbating the squeeze.

Read more:
Start-ups hit the brakes on hiring as costs soar

0
FacebookTwitterGoogle +Pinterest
previous post
Brits in EU slide into Brexit banking limbo as Barclays, Lloyd’s and Halifax shut their accounts
next post
What Are the Main Types of Business Insurance?

You may also like

How casinos deal with gambling addiction

November 2, 2022

How to Safely Secure a Construction Site in...

January 13, 2024

AI architecture scale-up NavLive scoops £4m of funding...

May 29, 2025

UK economy posts surprise growth at end of...

February 17, 2025

UK’s 1.6m temp workers to receive pay boost...

November 8, 2023

How to Prepare for Crypto Investment: Tips for...

August 9, 2024

Sky Media launches ‘Local Heroes’ initiative to support...

July 3, 2024

UK economy grows 0.5% in February, easing fears...

April 11, 2025

Greggs Faces Profit Margin Pressure Amid Rising Wage...

May 15, 2024

Lords report urges shift beyond retail to revitalise...

November 28, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Unmasking Medicaid Money-Laundering Schemes: Medicaid Financing Gimmicks 101

      June 27, 2025
    • Top moments from the Trump-Biden debate that changed the course of the 2024 election

      June 27, 2025
    • Trump exerted ‘maximum pressure’ on Iran and Israel to ‘deliver peace’: Leavitt

      June 27, 2025
    • Iranian foreign minister reiterates ‘serious damage’ to nuclear facilities, despite ayatollah’s comments

      June 27, 2025
    • Maybe Most People Do Not Want Teacher-Led Public School Prayer—But They Do Want Chaplains

      June 27, 2025
    • Flashback: The debate night against Trump that threw Biden’s reelection campaign into a free fall

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,076)
    • Politics (15,829)
    • Stocks (3,173)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved