Adzuna has announced today the strategic decision to fully integrate Work in Startups into its core business, in response to ongoing economic challenges and shifting market conditions.
Since the pandemic, the number of small businesses in the UK private sector has fallen by -8%, dropping from 5.94 million in 2020 to 5.45 million in 2024, and over 75% of these companies operate without employees, according to the Department for Business & Trade. Meanwhile, startups are facing increasing difficulties in securing seed-stage funding. A recent report reveals that seed-stage funding in the UK fell by -43% year-over-year in the first half of 2024.
With salary costs remaining a significant hurdle for startups, combined with a tepid economy and a tight job market, many startups are finding it increasingly challenging to scale their teams. By simplifying the operations and transitioning Work in Startups to a bigger platform, we aim to address these challenges and provide a more comprehensive solution for startups and jobseekers alike.
The Work in Startups website will cease operations as of October 31, 2024. From this point forward, all services will continue directly under Adzuna.
Doug Monro, CEO and co-founder of Adzuna, comments, “Closing Work in Startups in its current form was a difficult decision, as the platform has been a valuable asset in supporting the UK startup hiring landscape for 13 years and helped many of us find our own jobs. Like many businesses, this platform has faced significant economic headwinds, especially due to a downturn in seed and Series A VC funding. We have learned a lot from our experience since acquiring it in 2018 and we remain fully committed to supporting the startup community. By bringing our operations closer together, we can further strengthen our impact in the startup ecosystems, helping startup founders connect with the right talent and ensuring jobseekers find better, more fulfilling jobs, even in challenging times.”