HOW START-UPS ARE CHANGING THE WORLD

It’s a buzzword that is swarming around the business world right now… but rightfully so because the buzz they’re creating is something to pay attention to.

The first things that may come to mind when you think of start-ups are probably cool offices and tech companies. But how are they actually changing the world and how people see business?

TechTarget describes a start-up company as being “a newly formed business with particular momentum behind it based on perceived demand for its product or service. The intention of a start-up is to grow rapidly as a result of offering something that addresses a particular market gap.”

The way start-ups approach business is much different from large corporate companies, and those differences might be the reason why they’re growing at a rapid pace.

UNIQUE JOB OPPORTUNITIES

Due to the unique nature of a lot of startups, job roles can be far different from corporate ones. Regardless of the industry you’re in, innovative and creative working will be far more encouraged than sticking to the status quo.

Working for a startup means being a key part of its growth and ventures. There’s room for trial and error and employees’ input about how they want their roles to develop. Founders and directors of startups are entrepreneurs. They’re building something from the ground up and they want to hire people who have that same entrepreneurial mindset. Employees are usually encouraged to take initiative and be involved in big projects.

Many startups are purpose-driven, meaning the core of what they’re working towards is truly rewarding and you can be passionate about not just your role, but what your role is achieving in communities, and even the world.

And let’s not forget the benefits.

Startups don’t just approach business differently, but they’re trailblazing the way the world sees company culture and employee wellbeing. From flexible working to cinema rooms, startups tend to be built with a people-first mentality. Employees work hard because they have fun and are seen as individuals, not just workers.

Over 30% more startup employees say they’re happier in their current roles compared to employees at larger companies (AngelList)

So if you’re debating on working for a start-up, this may sway your mind a bit.

THEY’RE PRIORITISING THE PLANET

Many startups are either started for a sustainable purpose or position sustainability as one of their key values.

From local suppliers to B Corp certifications, startups have the flexibility to implement environmentally friendly decisions from day one.

• A recent survey of 300 European startups found that 86% had considered the role of sustainability in their business model

• The same survey revealed that 55% of founders believed sustainability is essential for their company’s long-term survival (TechFounders)

It’s no secret that conglomerate companies put profit over the environment, but more and more we’re seeing that having a relaxed approach to sustainability can eventually harm businesses.

• 70% of investors would avoid investing in companies that have a negative environmental impact

• 64% of millennials wouldn’t work for a company without strong ESG (Environment, Social & Governance) commitments

• 45% of Gen Z’s avoid certain brands because of ethical or sustainable concerns

This will continue to grow, and if startups are jumping on it now, their approach will become not just common but expected.

And this isn’t just about the planet, but the people that live in it.

For instance, Tech4Good is all about how technology is being used as a positive force in society, covering areas such as the environment, education, healthcare, and social good.

THEY’RE HELPING ECONOMIC RECOVERY

Startups contribute millions every year to the UK economy. The Virgin Startup Report highlighted that startups give £196 billion to our economy.

Startups often build locally, meaning they collaborate with smaller businesses which contribute to smaller ecosystems and communities. Tech startups especially are solving problems innovatively like no other. Creating jobs, stimulating the economy, and attracting foreign investment are just a few ways in which their businesses are not just helping the economy but encouraging others to do the same.

“Start-ups don't just create jobs from that company but the most successful start-ups give hope, create community, and build the future.” – We Forum

- Written by Tim Macmillan

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