Issue #110 - Time to review your spending? 💸
How was the Spending Review for you? 🤷 | How much electricity does a takeaway use? 💡| How to fund your small business and manage debt 🏪 | Stories with Clothes 🥻| Words | Tunes | More
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How was the Spending Review for you? 🤷
Welcome to Issue #110 of The Backbone - the fortnightly newsletter from Bionic.
It’s safe to say the Labour government hasn’t made many friends among small business owners since coming into power last summer.
The burden on Britain’s backbone businesses has been increased in one way or another, whether through the cuts to rates relief, new rules around NICs, no help with energy costs, or a combination of all of the above and more.
That’s why there were calls for the Chancellor to throw small businesses a lifeline as part of this week’s Spending Review.
A Spending Review sets multi-year limits for government department budgets (usually three years), while a Budget focuses on the government’s overall annual tax, borrowing, and spending plans (usually for the year ahead).
Sadly, there wasn’t much in there to make life better for small business owners.
There were parts of the Spending Review that could be filed under “business”, but nothing that looks like it’ll give the local high street a much-needed boost. For example, £22.6 bilion on research and development and a £2 billion increase in artifical intelligence investment sounds impressive, but is unlikely to benefit Britain’s backbone businesses.
And while an increase in funding for the British Business Bank should be good news for businesses of all sizes, it’s unclear where that increased investment will go.
Some may go towards extending the Start-up Loan scheme or making the Growth Guarantee scheme permanent (it’s due to end in March 2026), but the British Business Bank’s press release only mentions “UK unicorns”.
“Unicorns” are private companies valued at more than $1 billion (think brands like Monzo and Revolut) - the rare thing being that not many businesses achieve such a high valuation while remaining privately held.
There are currently around 44 UK unicorns, most of which are based in London.
If the British Business Bank is going to focus on unicorn businesses and you run a chip shop, a corner shop, a salon, or a garage outside of the capital, this is hardly going to fire your imagination (or do you any favours). Especially when employing staff, buying stock, and paying your energy bills aren’t getting any less expensive (speaking of which, our mates over at Business Comparison have done a great piece on how much takeaways spend on energy - it’s in our 🗞 READ section below).
The Chancellor was never going to use this Spending Review to undo things she put in place only a few months ago (not least because that’s not what a Spending Review is for), but a lack of focus on helping to tackle the problems faced by small business owners - the backbone of the economy - is disappointing, to say the least.
Let us know what you think about the government’s performance so far for small business owners below 👇
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🗞 READ
How much electricity does a takeaway use? 💡
It's been a tough few years for takeaways - the soaring costs of energy, stock, rent, and employing staff have all caused money worries for many. But how much do takeaways spend on power each year? Which uses the most energy? And which are the most expensive to run?
Our mates over at BusinessComparison have crunched the numbers to find the answers to these questions and more. A must read whether you're in the business or just love a chippy tea.
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How to fund your small business and manage debt 🏪
Running your small business can be a juggling act, especially when working out how to fund things like stock, wages, equipment, and anything else you need to run your business effectively. And that's before we even get onto growing it. But what happens if you don’t have access to the money right away?
This guide looks at all the options to help you make an informed choice on funding.
🗣 SHOUTOUT
#BionicBusinessStory - Stories with Clothes 👕
Bionic chatted to Abbey Booth, who runs her own personal stylist business - Stories With Clothes. We found out how she started, what inspires her and why she thinks it’s so vital to shop small now more than ever.
Bionic: Who is your main market at Stories With Clothes?
Abbey Booth: I work with so many different people. But a lot of my clients are female entrepreneurs who no longer need to wear dark corporate suits. They want something fashionable, clothes that help them stand out and not fade into the background.
B: Who has been your most rewarding client?
AB: One of my favourite clients has to be a lovely lady who came for a body and colour shape. She’d been told by her mother since she was a young child that she was ‘ugly’ and ‘fat’, and it stayed with her all her life. It was so impactful to have the opportunity to change someone’s outlook on themselves. It’s really rewarding, and she left feeling more confident in herself!
B: If you could go back to the start of your business journey, is there anything you’d do differently?
AB: I would invest in branding a lot earlier. Working on my brand got me thinking about my business values, but it’s only in the last few years that I’ve realised the importance of it. I’m an expert in styling but not in marketing, so I wish I’d asked for outside help a lot earlier than I did, rather than struggle on my own.
B: Why do you think it’s so important to shop small?
AB: I think there’s so much passion involved in your local community; you’re always going to get better service. Small businesses really care about the service they give you, plus they literally do a happy dance when you order! But I think it’s important because it really supports your own community.
Click on the pic of Abbey below to read more of this customer story.
📊 BUSINESS
Get your business costs sorted 💷
Bionic is the comparison site for your small business. We compare a range of business essentials to help you save time, money, and hassle.
Our tech-enabled team will answer all your questions in simple terms and help you find the best deal on business energy, insurance, phone, broadband, or finance. No jargon. No-fuss. #BeABionicBusiness 🦾
🎧 LISTEN
Playlist 🎶
One from Paul, friend of The Backbone and sometime superstar DJ, Die Tanzflache, this week. Random Select June 2025 is nearly two hours of summer beats from Crackazat, Peven Everett, Reelsoul and loads more.
Podcast 🎙
We’ve not had a comedy podcast in a while, so we were made up when Dan, head honcho at Two Sevens Deli in Sudbury, told us he’s obsessed with Three Bean Salad. A podcast from comedians Mike Wozniak, Henry Paker and Benjamin Partridge. Each week, the three beans tackle a different theme, suggested by the listening audience.
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🚫 STOP
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