A round up from the UK Government’s Autumn Budget…
Benjamin Shipman, The Hair Movement, Sidcup
This wasn’t a Budget any of us were hoping for, but as an industry we need to focus on what we can control not what we can’t control. There was nothing in it to incentivise or help us, so it forces us all to futureproof our business ourselves. This means further communicating the value of our services, the experiences we offer and refining our prices. We need to focus on the business rather than the creative side of the business as we have to make sure we can support ourselves for the next four years as the message was you’re on your own. Looking at the positives, it allows us to be stronger and be quality driven despite the squeeze the Budget puts on us – it will make us more resilient. We do this already; it’s about what you can do for yourself to become more business savvy which will help independent salons survive.
Billy Ryan, Tribe Salons, Clapham Common
The Budget didn’t bring many surprises. We all expected higher costs, and now they’re confirmed. Minimum wage will rise again in April 2026, hitting the salons who invest in the future of our industry by taking on apprentices and training new talent. Even with the promise of fully funded apprenticeships for under-25s, the wage increase outweighs the savings. Higher taxes and pension changes will leave both clients and staff with less disposable income. Freezing thresholds lets the government say tax rates haven’t risen, but people will feel it as the cost of living increases. For a sector already managing higher bills, slower growth and clients watching their spending, this adds even more pressure. We can’t change the Budget or how it impacts the wider economy. What we can do is be clear on how we run our salons. Strong financial planning, reliable systems and steadily increasing the value of what we deliver will matter more than ever. Finding ways to stay profitable and reinvest will be essential. The next year will need calm heads and steady leadership. If we focus on what we can control and keep improving the small things each day, we’ll stay resilient, support our teams and keep moving forward no matter what the economy brings.
Sean Hanna, award-winning salon owner and founder of Sean Hanna Consultancy
Increased costs are always tough, so it’s important to genuinely plan and strategise. It may be obvious but hope and complaining are not a strategies. Business owners need to assess their costs and establish the implication from a financial perspective. Then make changes as necessary. Business leaders have a choice; either stand still and endure whatever happens or be a true leader and make decisions that will ensure their business succeeds in what we all accept are difficult and challenging times. Pricing, performance, and costs all need to be analysed and optimised. This wasn’t a great budget for small business owners. That being said, I can’t remember the last budget that was good for small business owners - so book a time to get all your numbers nailed and create a plan that ensures a way forward for you and your team.