Business

Trust is an invaluable asset in business. It is the foundation upon which relationships are built, and it significantly influences customers’ decisions about whether or not to engage with your company.

How to build trust signals

Become trusted by Google

The role of the media in gaining third-party trust signals

Be a Thoughtful Leader

Embrace customer and influencer feedback

Manage your online reputation

AI increases the value of human trust signals

Use trust signals to set your brand apart

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Build trust signals for your brand to unlock next-level trust and loyalty 

Google may be compelled to divest its Chrome internet browser after a federal judge ruled that the company holds an “illegal monopoly” over online search.

The US Department of Justice (DoJ) is reportedly planning to ask Judge Amit P. Mehta to order Alphabet’s Google to sell Chrome, according to Bloomberg.

Should the judge accept this recommendation, it would mark one of the most significant antitrust actions against a major technology firm by the US government. In August, Judge Mehta found that Google, which controls about 90% of global internet searches, had abused its dominant position to stifle competition. A trial to discuss potential remedies is scheduled for April.

Chrome is integral to Google’s ecosystem, influencing how users access the internet and view advertisements. The browser defaults to Google Search and collects user data, enabling the company to offer highly targeted advertising—a substantial revenue source. News of a possible forced sale caused Alphabet’s shares to dip by $1.46, or 0.8%, to $175.34 in after-hours trading in New York.

Antitrust officials are also expected to recommend that Google provide websites with more options to prevent their content from being used by the company’s artificial intelligence products. Currently, Google features AI-generated answers, labelled “AI Overviews,” at the top of its search results. The DoJ may also require Google to license its search results and data.

A spokesperson for the DoJ declined to comment. Lee-Anne Mulholland, vice-president of Google Regulatory Affairs, criticised the DoJ’s approach, stating that it is pursuing a “radical agenda that goes far beyond the legal issues in this case” and would harm consumers.

Google intends to appeal once Judge Mehta delivers a final ruling, expected by August 2025. Other potential remedies include ending exclusive agreements where Google pays billions annually to companies like Apple to remain the default search engine on devices. The judge might also consider requiring Google to divest other parts of its business, such as its Android operating system.

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Google faces pressure to sell Chrome browser amid antitrust scrutiny

France has launched a significant advertising campaign in the UK to attract businesses disillusioned by recent tax changes introduced in the UK’s Budget.

The “Choose France” initiative has appeared in major UK newspapers, including full-page adverts in The Times and the FT, shortly after Labour’s Budget announcement at the end of October.

One such advert featured Roxanne Varza, director of Station F—the world’s largest start-up campus located in Paris—set against the backdrop of the French tricolour with the slogan: “Make It Iconic. Choose France.” Another advert showcased Professor Fabrice Barlesi, a leading specialist in lung cancer research. These adverts aim to position France as an attractive destination for investment, innovation, and business growth.

Andrew Griffith, the Shadow Technology Secretary, commented on the campaign, saying: “It’s a sorry state of affairs if British companies are considering fleeing to France, which has historically hardly been a beacon of agile capitalism. The recent Budget created a challenging tax environment for businesses, and perhaps some are now looking at the new opportunities that France’s government is offering.”

The “Choose France” campaign was initially launched by President Emmanuel Macron’s government a year ago to encourage global investors, businesses, and individuals to relocate to France. Featuring iconic French landmarks such as the Eiffel Tower and Mont Saint-Michel, the campaign aims to enhance France’s international appeal and attract foreign investment.

Originally targeted at countries like Germany, Canada, India, the US, and the United Arab Emirates, the campaign has expanded to the UK following reactions to the UK’s recent Budget, which included tax increases amounting to £40 billion. The French Embassy stated that the campaign’s rollout to the UK is part of a planned international expansion and is “totally unrelated to those countries’ domestic policy agendas.”

Richard Exon, founder of advertising agency Joint, remarked: “These adverts serve as a timely reminder that international competition for business investment is intensifying. It’s crucial for the UK to reinforce its position to compete effectively on the global stage.”

Greg Silverman, Global Director of Brand Economics at Interbrand, added: “Country branding initiatives like ‘Choose France’ are becoming increasingly important. As globalisation faces new challenges, nations are keen to promote themselves as prime destinations for business and investment.”

This is not the first instance of countries seeking to capitalise on UK political developments. In 2016, Germany’s Free Democratic Party launched a campaign urging British start-ups to consider Berlin following the Brexit referendum.

The “Choose France” campaign includes billboard advertisements in key global locations such as airports and business districts, as well as a strong online presence. It also features prominently at international trade fairs and culminates in the annual “Choose France” summit held at the Palace of Versailles.

This year’s summit saw France attract a record €15 billion (£12.6 billion) in investment commitments, including a €4 billion pledge from Microsoft to expand its artificial intelligence and cloud infrastructure in the country.

A spokesperson for the French Embassy commented: “The ‘Make It Iconic. Choose France’ campaign seeks to promote France’s attractiveness internationally. Featuring high-profile figures from various fields, it embodies the boldness that makes France unique. The campaign began in October 2023 and is expanding to new countries, including the United Kingdom.”

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France targets UK businesses with ‘Choose France’ campaign amid tax concerns

More than 70 of the UK’s largest retailers, including Tesco, Marks & Spencer, Boots, and B&Q, have warned Chancellor Rachel Reeves that her proposed hike in National Insurance will lead to unavoidable staff layoffs and store closures.

In a letter seen by Business Matters, the retailers expressed deep concern over the “sheer scale” of new costs amounting to £7 billion, stemming from changes to employers’ National Insurance contributions, an increased minimum wage, and new levies on packaging.

The letter states: “For any retailer, large or small, it will not be possible to absorb such significant cost increases over such a short timescale. The effect will be to increase inflation, slow pay growth, cause shop closures, and reduce jobs, especially at the entry level. This will impact high streets and customers right across the country. We are already starting to take difficult decisions in our businesses, and this will be true across the whole industry and our supply chain.”

Other signatories include major brands like Amazon, Aldi, Lidl, Morrisons, Greggs, Currys, JD Sports, and Specsavers. They acknowledge the government’s focus on improving the fiscal situation and investing in public services but caution that “the sheer scale of new costs and the speed with which they occur create a cumulative burden that will make job losses inevitable, and higher prices a certainty.”

Offshoring on the rise amid budget pressures

The warnings from retailers coincide with concerns from recruitment experts that tens of thousands of British jobs are at risk of being moved abroad in response to the Budget. James Reed, chief executive of recruitment firm Reed, revealed that employers are considering shifting roles to lower-cost countries like India to cope with increased expenses resulting from the “triple whammy” of higher National Insurance, a minimum wage hike, and the introduction of stronger union and workers’ rights. Government analysis suggests the new workers’ rights will cost companies almost £5 billion a year.

Neil Carberry, chief executive of the Recruitment and Employment Confederation, confirmed similar conversations with business leaders contemplating offshoring jobs post-Budget. “I have talked to many larger firms where the question has been about offshoring,” he said.

Preparations to move jobs overseas add to growing concerns about the Budget’s impact on the economy. While the Chancellor has insisted that growth is the top priority, business leaders and economists warn that the Budget could harm investment, job creation, and wage growth, while fuelling inflation.

The University of Edinburgh has warned staff to expect job cuts as its funding becomes “unsustainable” due to a fall in student numbers and the announced National Insurance increase. Sir Peter Mathieson, the university’s vice-chancellor, informed staff that the institution’s £120 million monthly running costs now exceed its income. “We have concluded that we need to take a series of actions, which will include selective voluntary and, if unavoidable, compulsory redundancies,” he wrote.

Youth unemployment is rising rapidly, with joblessness among 16 to 24-year-olds increasing from 12.1% last year to 14.8% today. Reed expressed concern that offshoring jobs would exacerbate the problem. “Graduate jobs have been hit hard over the last few months, so I’m worried about the opportunities available to young people entering the workplace,” he said.

Professional services roles in accounting, finance, recruitment, HR, and other office-based positions are most likely to be affected by offshoring. Reed noted that firms can “recalibrate where they operate pretty quickly” due to digital connectivity, making it easier to move jobs abroad almost as fast as moving money.

A government spokesperson defended the Budget measures, stating: “With our public services crumbling and an inherited £22 billion fiscal black hole from the previous government, we had to make difficult choices to fix the foundations of the country and restore desperately needed economic stability to allow businesses to thrive. By doing this, more than half of employers will either see a cut or no change in their National Insurance bills. There will be £22.6 billion more for the NHS, and workers’ payslips will be protected from higher tax. This government is committed to delivering economic growth by boosting investment and rebuilding Britain.”

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Retailers warn of inevitable job losses amid £7bn budget hit

Thousands of farmers have staged a rally against the government’s proposed inheritance tax reforms, branding them a “betrayal” that threatens the future of family-owned farms.

Tom Bradshaw, president of the National Farmers’ Union (NFU), received a standing ovation at Church House as he condemned the policy as “the straw which broke the camel’s back”.

“To launch a policy this destructive without talking to anyone in farming beggars belief,” Bradshaw told the 600 NFU members in attendance. Highlighting the severe inflationary pressures and challenging weather conditions over the past 18 months, he added: “You in this room have nothing left to give. It’s wrong on every level and, just as bad, it won’t achieve what the Treasury wants to achieve.”

The government aims to raise £520 million a year by 2029 through the inheritance tax changes, targeting wealthy individuals who invest in large estates to reduce their tax bills. However, Bradshaw warned that the reforms would incentivise people to withdraw money from pensions to invest in agricultural land worth £1 million, potentially undermining the policy’s intent.

Emotionally moved during his speech, Bradshaw spoke of the “unacceptable human impact” on elderly farmers who risk losing their life’s work due to the budget. “We know that any tax revenue raised will be taken from our children and raised from those that die in tragic circumstances or within the next seven years,” he said.

Farmers argue that the seven-year gifting rule—which exempts gifts from inheritance tax if the giver lives for seven years after the transfer—would not effectively apply to them. This is because many farmers need to draw a pension from the farm after passing it to the next generation, which counts as a reserved benefit. Additionally, if they continue living on the farm post-transfer, they would need to pay rent to avoid inheritance tax charges.

A standoff is unfolding in Westminster, with farming leaders insisting that the Treasury is “working from the wrong figures”. The government maintains that 73% of farms will not be affected by the changes, urging farmers to “look at the facts” in historical claims data. The NFU disputes this, stating that Treasury officials based their figures solely on Agricultural Property Relief (APR) claims, neglecting the Business Property Relief (BPR) claims that are crucial for machinery and livestock.

“Most inheritance cases combine Agricultural Property Relief and Business Property Relief,” the NFU informed its members. “HMT has completely misunderstood its own data and ignored claims made by farmers under the BPR regime.”

At the rally, each of the 600 seats bore a message for the government: “Government needs to halt this policy. The policy is broken and based on the wrong evidence.” The atmosphere was charged with palpable anger, culminating in a pointed reminder: “When you make a promise to farmers, you keep it.”

The farming community feels particularly aggrieved as, while in opposition, Labour had assured them there were no plans to alter inheritance tax. Sir Keir Starmer, speaking at the NFU conference in 2023, promised to provide “certainty” to farmers.

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Farmers accuse government of ‘betrayal’ over inheritance tax changes

Killing Kittens, the UK-based sex party organiser partly backed by the government, is raising funds to fuel its global expansion and develop new ventures, including a permanent venue, cruise ship events, and a gay male-focused enterprise.

KK Group, operating under the Killing Kittens brand, is aiming to meet the growing demand for “meaningful in-person connections” as society shifts back towards social gatherings. The company plans to “scale globally and unify a premium adult market that currently lacks a true leader”.

Having previously hosted events in New York, Killing Kittens will relaunch its services in the city next year, with additional plans to introduce events in Los Angeles, Lisbon, Venice, and Paris.

Co-founder Emma Sayle is seeking to raise new capital from retail investors through a crowdfunding campaign on Seedrs, targeting a valuation of £10.5 million. The funds will support the next phase of the company’s growth strategy.

The presentation also revealed that KK Group, the Business Champion Awards growth business of the year, is in discussions for additional debt financing and has explored strategic expansion opportunities with mergers and acquisitions financiers.

The company identifies the “sex-positive space” as highly fragmented, with numerous smaller platforms like Feeld, Pure, and HUD competing for market share. Sayle confirmed the fundraising plans, expressing a desire to create “a big, open-minded ecosystem for your whole adult life”.

Killing Kittens has already launched a dating app called Wax, reportedly used by “hundreds of thousands” of people as a social media platform. KK Group estimates the niche “sexscape” segment of the dating market to be worth around $345 million.

With over 250,000 members and more than 12,000 annual event attendees, the company currently generates almost 90% of its revenue from the UK. This domestic focus has spurred new ambitions for global expansion.

Founded in 2005, Killing Kittens is venturing into cruise ship events, with its inaugural voyage planned for 2026. The cruise has already generated £350,000 in room revenues within the first eight weeks of sales.

The group is also seeking its first dedicated venue in London to host events, aiming to reduce costs and create new revenue streams. Additionally, it has recently launched KK Homme, a venture catering to gay and bisexual men.

The investor presentation highlighted that KK Group is “a prime acquisition target for larger companies looking to diversify their portfolios”. The company is also considering a public listing on a smaller exchange like AIM to provide future exit opportunities for investors.

In 2022, it was revealed that Killing Kittens became part-owned by the UK government through the Future Fund—a scheme designed to support fast-growing, tech-focused British start-ups during the pandemic. The Future Fund still holds approximately a 1.5% stake in the company.

The Future Fund has had mixed outcomes, with 286 of the 1,192 backed businesses declared insolvent as of 30 September 2024, resulting in a £241 million loss for the government. However, it has also generated £76 million from 74 corporate exits.

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Killing Kittens seeks £10.5m valuation for global expansion of sex party events

Killing Kittens, the UK-based sex party organiser partly backed by the government, is raising funds to fuel its global expansion and develop new ventures, including a permanent venue, cruise ship events, and a gay male-focused enterprise.

KK Group, operating under the Killing Kittens brand, is aiming to meet the growing demand for “meaningful in-person connections” as society shifts back towards social gatherings. The company plans to “scale globally and unify a premium adult market that currently lacks a true leader”.

Having previously hosted events in New York, Killing Kittens will relaunch its services in the city next year, with additional plans to introduce events in Los Angeles, Lisbon, Venice, and Paris.

Co-founder Emma Sayle is seeking to raise new capital from retail investors through a crowdfunding campaign on Seedrs, targeting a valuation of £10.5 million. The funds will support the next phase of the company’s growth strategy.

The presentation also revealed that KK Group, the Business Champion Awards growth business of the year, is in discussions for additional debt financing and has explored strategic expansion opportunities with mergers and acquisitions financiers.

The company identifies the “sex-positive space” as highly fragmented, with numerous smaller platforms like Feeld, Pure, and HUD competing for market share. Sayle confirmed the fundraising plans, expressing a desire to create “a big, open-minded ecosystem for your whole adult life”.

Killing Kittens has already launched a dating app called Wax, reportedly used by “hundreds of thousands” of people as a social media platform. KK Group estimates the niche “sexscape” segment of the dating market to be worth around $345 million.

With over 250,000 members and more than 12,000 annual event attendees, the company currently generates almost 90% of its revenue from the UK. This domestic focus has spurred new ambitions for global expansion.

Founded in 2005, Killing Kittens is venturing into cruise ship events, with its inaugural voyage planned for 2026. The cruise has already generated £350,000 in room revenues within the first eight weeks of sales.

The group is also seeking its first dedicated venue in London to host events, aiming to reduce costs and create new revenue streams. Additionally, it has recently launched KK Homme, a venture catering to gay and bisexual men.

The investor presentation highlighted that KK Group is “a prime acquisition target for larger companies looking to diversify their portfolios”. The company is also considering a public listing on a smaller exchange like AIM to provide future exit opportunities for investors.

In 2022, it was revealed that Killing Kittens became part-owned by the UK government through the Future Fund—a scheme designed to support fast-growing, tech-focused British start-ups during the pandemic. The Future Fund still holds approximately a 1.5% stake in the company.

The Future Fund has had mixed outcomes, with 286 of the 1,192 backed businesses declared insolvent as of 30 September 2024, resulting in a £241 million loss for the government. However, it has also generated £76 million from 74 corporate exits.

Read more:
Killing Kittens seeks £10.5m valuation for global expansion of sex party events

Employers are preparing to relocate tens of thousands of British jobs overseas in response to Chancellor Rachel Reeves’s recent Budget, leading recruitment experts have warned.

James Reed, chief executive of recruitment giant Reed, revealed that companies are exploring shifting roles to lower-cost countries like India to offset the increased expenses resulting from the “triple whammy” of higher employer National Insurance contributions, a rise in the National Living Wage, and the introduction of stronger union and workers’ rights. Government analysis suggests these new workers’ rights could cost businesses nearly £5 billion annually.

Neil Carberry, chief executive of the Recruitment and Employment Confederation, echoed these concerns, stating that he has been in discussions with business leaders contemplating offshoring jobs following the Budget announcements. “I have talked to many larger firms where the question has been about offshoring,” he said.

These developments have intensified worries about the Budget’s potential impact on the UK economy. Despite the Chancellor’s emphasis on growth, business leaders and economists caution that the measures could hinder investment, job creation, and wage growth while exacerbating inflation.

Deutsche Bank issued a note to City clients warning that the Budget could result in the loss of 100,000 jobs, both through redundancies and uncreated positions that might have otherwise materialised.

Mr Reed noted that offshoring is becoming a more attractive option for companies facing rising costs. “It’s something that people have on their list of possible things to do, and that has just moved up the agenda because the cost of hiring has gone up,” he explained. He added that while companies may not publicly announce such moves, they “will just quietly happen by stealth.”

He cited an example of a white-collar recruiter planning to move 27 UK jobs to India due to the increased National Insurance burden. “It will certainly be thousands [of jobs]. I think it could be tens of thousands because there are a lot of business services that have that as an option,” Mr Reed estimated.

Sectors most likely to be affected include professional services such as accounting, finance, recruitment, and human resources. “With everything connected digitally now, for services businesses, you can move jobs almost as fast as you can move money,” he said.

The National Insurance increase, set to take effect from April, will raise the rate from 13.8% to 15% and lower the salary threshold at which employers start paying the tax. This change coincides with a higher-than-expected 6.7% rise in the National Living Wage and additional costs from Labour’s Employment Rights Bill.

Industries such as logistics, hospitality, retail, and small manufacturing are expected to be hardest hit by these tax changes. Mr Carberry commented: “In these sectors, automation, offshoring where possible, lower pay rises for those not on the national minimum wage, and higher prices will be used [to offset the impact].”

The offshoring trend raises concerns about rising youth unemployment, which has increased from 12.1% last year to 14.8% among 16 to 24-year-olds. Mr Reed expressed worry about diminishing opportunities for young people entering the workforce.

Despite facing increased costs estimated at millions of pounds for his own company, Mr Reed stated his commitment to keeping jobs in the UK. “We’re very committed to the UK; we’re a UK family business. I don’t want to offshore jobs; I want the jobs to be here,” he affirmed.

A government spokesperson defended the Budget measures, stating: “With our public services crumbling and an inherited £22 billion fiscal black hole from the previous government, we had to make difficult choices to fix the foundations of the country and restore desperately needed economic stability to allow businesses to thrive. By doing this, more than half of employers will either see a cut or no change in their National Insurance bills. There will be £22.6 billion more for the NHS, and workers’ payslips will be protected from higher tax. This government is committed to delivering economic growth by boosting investment and rebuilding Britain.”

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Reeves’s National Insurance hike prompts firms to consider moving jobs abroad

Growing a business is an exhilarating journey filled with opportunities and challenges alike. Yet, as a company expands, its legal landscape becomes increasingly complex.

Regulatory obligations, contractual agreements, and employment laws all demand meticulous attention to detail, leaving little room for error. Unfortunately, even a minor legal oversight can lead to significant complications.

For companies aspiring to scale, understanding when and why to seek legal advice can be the difference between thriving and facing avoidable setbacks. Partnering with a reliable legal expert—like a New York Long Term Disability Lawyer—can be an invaluable step in safeguarding growth and operational stability.

Understanding When Legal Guidance Becomes Essential for Growing Businesses

For many small businesses, the initial stages of operation are often managed with a “DIY” mindset, handling legal matters with essential online resources or templates. However, as businesses grow, the stakes also rise, making a proactive approach to legal management critical. Some business owners may hesitate to involve legal professionals until they encounter an explicit issue, yet waiting for problems to arise can lead to costly and disruptive consequences.

A business owner who consults with a legal expert early gains access to valuable insights on compliance, risk management, and strategic planning. These aspects protect the business and can contribute to its growth by paving a secure path forward. Legal counsel can be pivotal in helping to interpret evolving regulations and align the company with legal standards that may affect operations, especially in sectors prone to frequent regulatory updates, like finance, healthcare, and e-commerce. By consulting a legal expert before final decisions, businesses can save time, money, and potential headaches.

Key Areas Where Legal Experts Can Support Business Growth

Employment law is one of the most crucial areas where legal expertise is invaluable. Hiring, managing, and terminating employees is governed by an intricate set of rules that vary based on location, industry, and company size. Growing businesses must ensure that their hiring practices, employment contracts, and workplace policies comply with local and federal labor laws. Employment law covers issues like wage regulations, benefits, employee rights, and anti-discrimination policies—all essential to avoid disputes and ensure a positive work environment. When layoffs, discipline, or termination arise, missteps in handling these matters can open the door to legal disputes, which can be both time-consuming and financially draining for the business.

Legal professionals can also play an instrumental role in drafting and reviewing contracts. For growing businesses, contracts form the backbone of relationships with clients, suppliers, contractors, and employees. A well-crafted contract is a protection mechanism and sets clear expectations between parties. However, contracts are also complex, often containing nuanced legal language that can be difficult for non-experts to interpret accurately. A seasoned legal expert ensures these agreements align with the business’s best interests, covering potential liabilities, compliance issues, and terms that might be overlooked. Consulting a legal expert before signing contracts, mainly when dealing with high-value transactions, partnerships, or new markets, ensures that business dealings remain secure and mutually beneficial.

Advantages of Consulting Legal Experts Early On

By consulting legal experts early, business owners mitigate risks and enhance their company’s growth potential. Legal professionals can assist in drafting policies and procedures that establish consistency and clarity across the organization. Such internal guidelines, aligned with legal standards, reduce ambiguity and create a workplace environment where employees and management are on the same page. A well-drafted employee handbook, for instance, sets forth expectations and can be a valuable resource in minimizing misunderstandings or conflicts that might arise in the future.

In addition, establishing intellectual property (IP) protections is crucial for any growing business. Intellectual property law shields a company’s innovations and brand identity from unauthorized use, from trademarks to patents. Failure to secure IP rights can result in lost revenue and weakened brand positioning. Consulting with a legal expert early on ensures that businesses are adequately protected and can enforce their rights if infringement occurs. A legal expert can assist in trademarking a company’s logo, slogan, or product names, thereby safeguarding the brand’s identity and value.

In some cases, legal experts can also help businesses with dispute resolution by providing options such as mediation or arbitration before resorting to costly litigation. While conflict is often unavoidable, handling it effectively can prevent lasting damage to business relationships and finances. Legal experts can advise on the most appropriate course of action, aiming to resolve disputes with minimal disruption to the company’s operations. This strategic approach to conflict resolution demonstrates that legal experts are not solely there to “fix” issues but to actively support the business’s stability and reputation proactively and constructively.

Conclusion: Legal Support as a Pillar of Business Growth

As businesses scale, legal complexities naturally increase. Legal challenges can be daunting, whether it’s navigating employment regulations, managing contracts, or ensuring compliance with industry standards. Involving a legal expert as part of a growing business’s strategy can streamline operations, protect the organization from potential risks, and foster an environment where the industry is positioned for sustainable growth. With expert legal support, companies are better equipped to face challenges, secure their assets, and focus on their core mission—continuing their journey to success.

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Navigating Legal Complexities for Growing Businesses: When to Consult a Legal Expert

London-based tech firm Goodstack has secured £22 million in venture capital funding, positioning it to facilitate £2.4 billion in employee donations to good causes this year.

The company, whose platform is utilised by major corporations such as HSBC, LinkedIn, and design software firm Canva, has been quietly investing the capital raised from San Francisco-based General Catalyst and other investors to achieve its ambitious goal.

Founded in 2015 by university friends Henry Ludlam, 33, and Stefan Greer, 34, Goodstack was originally known as Percent. It initially enabled retailers to reward student purchases by directing a small percentage back to their chosen campus teams or clubs. However, during the Covid-19 pandemic, the duo identified an opportunity to revolutionise corporate philanthropy by simplifying the process for employees to donate to vetted charities, schools, and non-profits worldwide.

“We have 13 million in our database,” Ludlam said, emphasising that all organisations have been thoroughly verified. Goodstack generates revenue by providing companies with access to its platform, typically leaving employee donations free of charges except for transaction fees levied by card issuers. “As a general rule, we try to get the corporates to cover the cost,” he added.

Unlike well-known charitable platforms such as JustGiving, GoFundMe, and Crowdfunder—which take a percentage fee and encourage donors to leave optional tips—Goodstack’s model focuses on corporate partnerships to minimise costs for individual donors.

The platform has facilitated a surge in donations to charities including the Red Cross, Cancer Research UK, and Oxfam, as well as to disaster relief efforts in response to events like tropical cyclone Carina in the Philippines and recent floods in Spain. From processing $50,000 in donations in 2020, Goodstack handled $1 billion last year and is on track to manage $3 billion this year.

“There was a massive gap in the market for doing something like us,” Ludlam noted. “All the current players were very locally focused. No one had built the one layer of software that makes it as easy to give in America as it is in Vietnam, South Africa, or Fiji.”

Ludlam and Greer met during their first year at Manchester University, sharing a flat in Oak House, Fallowfield. The company now employs 60 people and the founders retain a “significant minority” shareholding, having raised a total of $33 million in venture capital. Nationwide Building Society was an early investor but has since divested its stake.

General Catalyst, which first invested in 2021, has a track record of backing high-growth tech firms, including Airbnb, Irish payments giant Stripe, and social messaging service Snap at early stages of their development.

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Goodstack raises £22m as corporate giving platform targets £2.4bn in employee donations