A new survey from Apps for Business revealed that over 50% of small business owners think that employee productivity is hindered by a lack of collaboration on business apps. In the age of globalization, it has never been more important to unite your staff as closely as possible. Maintaining a uniform level of knowledge between your employees on key company processes is key to generating a loyal customer base and growing your small business.
Here are the most productive apps in the UK.
Monzo (previously Mondo) is building its mobile-only bank from the ground up rather than running on pre-existing banking software. Monzo is geared towards tech-savvy millennials. The app continually updates your bank balance, gives intelligent notifications and allows peer-to-peer payments. This year, the London-based startup secured $5 million in venture funding from Passion Capital, broke the record for the fastest crowdfunding raise in history, and got their banking licence through. Things are looking up for Monzo.
- Led by: CEO Tom Blomfield
- Location: Old Street
Hailed as the world’s first artificial intelligence triage nurse, the Babylon app checks patients’ symptoms and medical background against a database of diseases to determine if they need to seek help. Users can also book video consultations with doctors and specialists through the app. At the beginning of 2016, Babylon raised $25 million in a Series A round led by AB Kinnevik, with participation from DeepMind and Innocent Drinks, to develop the app’s AI feature.
- Led by: founder and CEO Dr Ali Parsa
- Location: Chelsea
Velocity offers on demand curated dining experiences. Users can search for and book tables at premium restaurants and pay for their meals through the app. In August 2016, Velocity announced $22.5 million worth of fresh funding, in a Series B round led by DIG Investments. Currently operating in five cities, in the UK and US, Velocity’s goal is to expand into 29 countries by 2020.
- Led by: co-founders Zia Yusuf and Alex Macdonald
- Location: London and New York (dual headquarters)
Syft’s hiring app for London’s hospitality and events industry is challenging traditional recruitment agencies. Employers can find vetted and rated temporary staff via the app and job seekers have the flexibility to choose their assignments and hours. This year, Syft closed a £2.65 million seed round led by PROfounders Capital which included investment from Lord Young, Mike Kershaw and heavyweight boxer David Haye. The funds will be used to expand across London.
- Led by: co-founders Jack Beaman and Novo Abakare
- Location: Holborn
In just one year, foreign exchange app Revolut has grown to over 300,000 users. The app and pre-paid Mastercard allows travellers to spend in more than 90 currencies around the world without running up huge exchange fees. As well as the startup’s impressive growth, in 2016, Revolut raised £6.75 million from venture capital firms Balderton Capital and Index Ventures and ran a wildly successful crowdfunding campaign to fuel its expansion.
- Led by: founder and CEO Nikolay Storonsky
- Location: Canary Wharf
Racefully makes going for a run more fun by enabling friends to run together virtually, in real time. The app is designed to help runners achieve their goals through social support. It’s been a great year so far for Racefully as the startup raised £275,000 investment from friends, family and private angels and an additional £275,000 on SyndicateRoom. It also won the London Sport Technology Innovation Fund 2016 Award and officially launched Racefully in the App Store in July.
- Founded by: David Naylor and Chris Pointon
- Location: Fitzrovia
London-based startup Movebubble aims to “reduce the stress and hassle of renting”. The app allows users to book viewings, see feedback from other renters, make an offer and even put down a holding deposit to secure a property. This year, Movebubble raised £1.1 million from several high profile investors including former Spotify MD Adam Williams. Currently working in partnership with over 250 estate agencies in London, Movebubble is focused on further expansion.
- Led by: CEO Aidan Rushby
- Location: Clerkenwell
Tandem is an app-only bank that aims to help customers manage their money better. Tandem has its official Bank of England banking licence and is being shaped by feedback from its 7,000 “co-founders”. This year, Tandem raised $22 million in Series B funding from six investors, including eVentures and eBay founder Pierre Omidyar’s investment fund, and smashed its £1 million crowdfunding target.
- Led by: co-founders Matt Cooper and Ricky Knox
- Location: King’s Cross
YapJobs is a hospitality and retail recruitment app that matches candidates to roles in real time. Since founding in 2015, the London-based startup has processed over 500,000 applications, and Costa Coffee and The Ivy are already signed up to its employer list. YapJobs is attracting investors too, having raised £1.4 million in less than 6 months after launch.
- Led by: co-founders Shahzad Ali, Xen Lategan and Ziad Tassabehji
- Location: Shadwell
Splittable is an app that helps young renters in 36 countries manage their shared household expenses. Founders Nick Katz and Vasanth Subramanian teamed up, in 2014, to form Splittable with ambitions to fix flatshare woes. A year later, the pair raised £800,000 of seed funding from eight investors including London Co-Investment Fund, Seedcamp and Playfair Capital. Splittable is seeking partnerships with flat sharing websites, banks and energy suppliers to grow further.
- Led by: co-founder and CEO Nick Katz
- Location: Shoreditch
Mindfulness startup Headspace makes money by selling subscriptions to its guided meditations. Users are in good hands as the app’s guided meditations are led by Headspace co-founder Andy Puddicombe, a former Buddhist monk who spent 10 years practising meditation and mindfulness. Headspace has over 8.7 million users in 190 countries and the startup is using its $30 million in Series A funding (led by Chernin Group) to expand its team and content.
- Led by: CEO Sean Brecker
- Location: Islington (UK head office)
Rock Pamper Scissors is a London-based hairdresser booking app, founded by former Just Eat CMO Mat Braddy. Designed for the millennial generation, users can flick through hairstyles to find the stylists who created them and book hair and beauty appointments through the app. This year, Rock Pamper Scissors bagged £1.2 million of funding from Seedcamp, 500 Startups and several angel investors (including New Look founder Tom Singh OBE) to grow its tech team, stylist and client base in London.
- Led by: CEO Mat Braddy
- Location: Islington
Yoyo Wallet lets users make payments with their phone, and earn rewards and discounts from retailers. Described as “Europe’s fastest growing mobile wallet”, YoYo Wallet has been chosen by FinTechCity as one of the Top 50 Fintech businesses in Europe. In 2015, the Fintech startup closed a $10 million Series A round including investment from Imperial Innovations and Taavet Hinrikus (co-founder of Transferwise), to fund their global ambitions.
- Led by: CEO Alain Falys and CRO Michael Rolph
- Location: Whitfield Street, near Goodge Street
Tide
We thought we’d use this opportunity to introduce ourselves and our banking app features. With Tide, you can open a business bank account in minutes (T&Cs apply) without having to wait in a bank branch for hours.
Benefits:
- Open a business account in minutes
- Fast customer support accessible from the app
- Simple pricing with no hidden fees
- Use abroad for free
- Fast and easy card management for you and your team
Key Features:
- Auto-categorise each of your transactions
- Manage multiple accounts from the same app
- Manage accounts for multiple businesses from the same app (on iOS, Android coming soon)
- Easy card management allowing you to access pins and freeze cards
- Simplified expense management with Tide business expense cards
- Create, send and pay invoices directly from the app
Pricing
Bank transfer fees: £0.20 per transaction
Card payments for the UK and abroad: Free
Transfer between tide accounts: Free
ATM cash withdrawals: Free
Monthly fee: None
Xero
Xero is a cloud-based accounting software that helps small business owners collaborate with their trusted advisors. Manage your invoices, inventory management, bookkeeping and bank reconciliation from a single platform.
Benefits:
- Integrates with hundreds of business applications
- Mobile app support
- Flexible pricing plans
- 24/7 online support
- Cloud-based
Key features:
- Accounting reports
- Automatic updates
- Expense tracking
- Invoicing
- Online payments
- Bank connections
- Inventory management
- Easy conversion from QuickBooks and Sage
- Integrates with Tide to reconcile transactions automatically every 2 hours
Pricing
Free Trial: Yes
Starter: £10/month
Standard: £22/month
Premium: £27.50/month
Crunch
Crunch is an online accounting service that supports freelancers, contractors, and practically anyone who’s self-employed. The entry level offering, Crunch Free, lets you manage invoicing and expenses, and it can be securely linked to your bank account (such as Tide!).
Crunch also offers complete accountancy packages with all your business tax filing taken care of. These packages combine their bespoke online accounting software with award-winning client support and expert accountants.
Benefits
- Simple, secure online accounting software
- Award-winning team of Chartered Certified Accountants and client managers
- Real-time view of company profits and taxes owed
- HMRC and Companies House taken care of for you
- Secure and easy-to-use on any device
Key features
- Self Assessment submission support
- Expert IR35 advice, tools, and solutions
- Open Banking feeds to easily import bank transactions
- Set up recurring invoices and expenses
- Add services as and when you need them
Pricing
Crunch Free: Completely free!
Crunch Pro (Sole trader): From £24.50+VAT per month
Crunch Pro (Limited company): £71.50+VAT per month
Crunch Premium: £109.50+VAT per month
FreeAgent
FreeAgent is a small business accounting software that is perfect for early-stage businesses, contractors and freelancers. Through FreeAgent, you can manage your business accounts, track time, log expenses and forecast your tax bills. You can also file your self-assessment tax and VAT returns directly to HMRC.
Benefits
- Efficient customer support
- Variety of pricing plans
- HMRC integration
- Focus on early-stage small businesses
Key features
- Invoicing
- Time-tracking
- In-app self-assessment tax return
- Forecast corporation tax bill
- Project management
- Integrates with bank accounts (including Tide)
Pricing
Free trial: Yes
Sole-trader: £19/month (50% off for the first 6 months)
Partnership/LLP: £24/month (50% off for the first 6 months)
Limited company: £14.50/month (50% off for the first 6 months)
Zoho Books
Zoho is another option for small businesses looking for easy-to-use, online accounting software. It’s especially helpful for managing cash flow and finances, and offers exceptional support. Users will also love the minimalist dashboard.
Benefits:
- Affordable accounting solution
- Integrates with other Zoho products
- Email and phone customer support
Key features:
- Cloud-based accounts management
- Accounting reports
- Invoicing and online payments
- Expense tracking
- Real-time inventory tracking
- Bank and credit card connections
- Customer engagement with the Client Portal feature
Pricing
Free Trial: Yes
Basic: £6/month per organisation
Standard: £12/month per organisation
Professional: £18/month per organisation.
Conclusion
As a small business owner, you would never want to store your business data in just one source. You’d rather prefer to have it stored in several reliable places such as Mailchimp, Google Analytics and Salesforce. This helps you to access your data anytime and from anywhere. Therefore, having the best apps for small business is very important for entrepreneurs and freelancers.