As we move towards the end of 2016, it is only natural that we look towards 2017 and what it may hold for new business start-ups. Times may be tough, and Brexit may have caused a great deal of uncertainty, but that will not stop the determined entrepreneur. Becoming the next Google will not be easy, but these start-ups look to have a very bright future.
Transferwise is a new money transfer service. It was set up by two Finns to tackle the issue of inflated fees, hidden away in business documents, when transferring money between countries. The typical Transferwise rate for transferring from the UK is just 0.5%, which undercuts most other money transfer methods. It is secure and simple to set up and the online platform clearly shows you exchange rates and fees.
Revolut is another company looking to make it easy to spend money abroad without being hit by fees. Using the Revolut model involves signing up for Mastercard. You top this up with funds from your debit card before you go abroad and then use the card as normal. The difference is that the Revolut card knows where you are and automatically changes the funds loaded into your card account into the local currency, therefore avoiding the fees.
Zeek is a platform to trade gift cards. We’ve all had that sinking feeling when we get a birthday card, only to find the gift card inside is for a store we don’t like. Now, instead of putting it in a drawer or desperately hunting the store to find something vaguely suitable, we can simply sell the card. The BBC has reported that more than £250 million went unclaimed in the UK on gift cards in 2012 alone.
Songkick is a start-up focused on the entertainment market. Whereas bands used to make their money from recordings, nowadays it is concerts that are the big money spinner. Often, tickets for big band shows are sold out within minutes of becoming available online, frustrating thousands of loyal fans. Songkick tackles this by allowing users to set custom trackers for their favourite bands and be notified of tour schedules and forthcoming nearby concerts. Users can also be pre-warned about tickets going on sale and snap them up before the news breaks.