How Salons Can Manage Rising Costs from the UK Autumn Budget and Save Big with Easydry

The UK Autumn Budget 2024 has introduced some major changes that could impact the financial stability of small businesses, including hair and beauty salons. With increased employer costs and other economic shifts, finding practical solutions to offset these expenses is more important than ever.

UK Autumn Budget Changes That Will Affect Salons

Employer National Insurance Increase: From April 2025, employer National Insurance contributions will rise by 1.2%, reaching 15%. For salons, where payroll makes up a significant part of expenses, this increase adds up quickly. Although smaller businesses will benefit from an increased Employment Allowance, many salon owners will still feel the financial impact.

Higher National Minimum Wage: The National Minimum Wage is set to rise by 6.7%, reaching £12.21 per hour for adults over 21. While this is great news for workers, it’s another challenge for salon owners who may need to reassess staff hours or hiring plans to manage the extra costs.

Operational and Business Expenses: Other potential costs include high fuel prices and limited relief on business rates. These can further strain salon budgets, especially for those operating on tight margins.

Easydry’s Cost-Saving Solutions

In response to these increasing costs from the UK Autumn Budget , salons can look to Easydry for significant savings.

For a four-stylist salon in the UK, by switching to Easydry there is the potential to save £5,500 in the first year of switching.

These savings could help cover the increased employment expenses and alleviate some of the financial pressures imposed by the UK Autumn Budget.

By switching to Easydry’s eco-friendly, disposable towels, salons can cut down on several overhead expenses:

• Reduce Labour Costs: Staff won’t need to spend hours managing and laundering towels, freeing up time to focus on client services.
• Lower Utility Bills: Using Easydry biodegradable towels dramatically decreases water and electricity consumption, reducing overall utility expenses.
• Eliminate Towel & Laundry Maintenance: Salons won’t have to deal with the ongoing cost of replacing towels or maintaining laundry equipment.

While the Autumn Budget introduces some unavoidable cost hikes, making smart choices like transitioning to Easydry can provide substantial financial relief. Plus, promoting sustainability through eco-friendly practices not only saves money but also enhances your salon’s reputation, attracting environmentally conscious clients.

To learn more about how Easydry can help you with predictable costs check out our blog: Easydry Offers Predictable Costs without Surprises