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May 23, 2014

Also in the news this week – 23 May 2014

The rise of the 'mobile wallet'

One in five mobile handsets will have mobile wallet functionality by 2018, according to Juniper Research, compared to fewer than one in ten at the end of 2013. Growth will be driven by two models, it says. In developing markets, SVAs (Stored Value Accounts) are increasingly enabling first time financial access for individuals without bank accounts in areas across sub-Saharan Africa, developing Asia and Latin America. Wallet launches across North America and Western Europe are expected to feature contactless payment functionality. The launch of an Apple iWallet is expected later this year.

Home working could save £3bn a year and cut carbon

Increasing the numbers of UK employees working from home could cut costs by £3 billion a year for UK employers and employees and save more than three million tonnes of carbon a year, according to a new report by the Carbon Trust. Advances in broadband internet, smartphones and cloud computing have resulted in a significant increase in the number of UK employees who work from home, with the total now standing at over four million out of a workforce of 30 million. Over 40% of UK jobs are compatible with working from home, but the Carbon Trust has found that only 35% of companies have a policy allowing their employees to work from home.

Captify takes top spot in UK's top 100 start-ups

Advertising technology company Captify has taken top spot in Startups.co.uk's ranking of the UK's top 100 fast-growth, high-potential start-ups. Now in its fifth year, the 2014 Startups 100 ranking identifies privately owned UK companies that launched on or after 1 January 2011. Entrants are judged on a host of criteria including innovation, financials, economic impact and growth potential. The ranking shows that the average turnover in 2013 among the 100 start-ups was £973,543. It also found that a third of the businesses have female founders on board. The average age of the entrepreneurs behind the businesses is 34, with the oldest founder aged 66.

Reasons to set up your own business

Research conducted to coincide with Local Business Week has shed light on the reasons that people set up their own enterprises. It has found that 36% of people want to earn money for themselves and not for their boss, and 35% want to choose their own working hours. Taking pride in owning your own business is a reason for going it alone for 25% of respondents. However, 25% of people would be unsure about starting their own business right now. A video on barriers to SME growth featuring Darshana Ubl, ambassador for Local Business Week, can be viewed here.