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UK Holiday Spending Falls for First Time in Five Years Amid Iran War

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British holidaymakers are tightening their belts for the first time in half a decade, with fresh Barclays data revealing that travel spending slipped into reverse last month as households braced themselves against a fresh wave of cost of living pressures and the economic shockwaves emanating from the Iran conflict.

Card spending across the board rose by a modest 0.9 per cent year on year in March, a touch below February’s 1 per cent uptick, according to the high street lender’s latest consumer spending report. But it was the travel sector that delivered the most striking reversal: outlay on holidays and trips fell by 3.3 per cent, marking the first annual decline recorded by Barclays since March 2021, when the pandemic still held the country in its grip.

The pullback will come as an unwelcome jolt for an industry that has enjoyed a prolonged post-Covid boom, buoyed by consumers’ well-documented appetite for prioritising “experiences” over material goods. Spending at travel agents tumbled 4.6 per cent, airlines saw a 4.1 per cent drop and public transport receipts fell 2.9 per cent. The one bright spot was domestic hospitality, with hotels, resorts and other accommodation providers posting a 1.2 per cent uplift as Britons opted to stay closer to home over the Easter break.

The ongoing Middle East conflict, which erupted in late February following US and Israeli strikes on Iran, is reverberating through the British high street. Barclays found that one in seven adults has either delayed a significant purchase or started squirrelling away cash in anticipation of higher energy costs this summer.

Consumers have been granted a brief reprieve at the meter: Ofgem lowered the energy price cap by 7 per cent from 1 April. However, the regulator has already flagged an 18 per cent jump from July, as wholesale costs, stoked in part by geopolitical instability, feed through to household bills.

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Essentials are once again the pinch point. Spending on food and petrol edged up 0.5 per cent, with a 1.6 per cent rise in fuel spend representing the first increase since February 2023 as surging crude prices push up forecourt costs. Discretionary spending growth cooled to 1.1 per cent, although clothing (up 3.6 per cent) and entertainment (up 3.5 per cent) continued to hold their own. Cinema takings climbed 5.5 per cent, with Ryan Gosling’s Project Hail Mary and Pixar’s Hoppers drawing audiences back to the big screen.

Jack Meaning, chief UK economist at Barclays, said the data pointed to a softer spell ahead. “Shoppers delaying major purchases and building up a savings buffer in response to the shock from the Middle East reinforces our view that activity will be muted in the coming months,” he said. With a Bank of England rate decision due in under three weeks, Meaning argued that Threadneedle Street’s best course would be to hold rates steady, “containing the worst of inflation without unduly squeezing consumers”.

Despite the storm clouds, household-level sentiment is proving resilient. Some 67 per cent of adults remain confident in their personal finances and 71 per cent in their ability to live within their means. The gloom deepens, however, when consumers look outwards: just 21 per cent express confidence in the UK and global economies, down from 25 per cent and 24 per cent respectively in February.

Karen Johnson, head of retail at Barclays, said the figures exposed a gulf between mood and behaviour. “Cost of living concerns and economic uncertainty continue to weigh on confidence, prompting caution and a desire to cut back, but spending remains resilient across several categories, namely clothing, entertainment and digital content and subscriptions,” she said. Households, she added, were performing an “ongoing balancing act” — trimming where they could while still splashing out on what mattered most.

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A parallel report from the British Retail Consortium painted a rosier headline picture, with UK retail sales up 3.6 per cent year on year in March, well ahead of the 1.1 per cent growth recorded a year earlier and above the 12-month average of 2.6 per cent. The figure was powered by a 6.8 per cent leap in food sales.

Helen Dickinson, the BRC’s chief executive, credited the timing of Easter. “An early Easter provided a much-needed boost to food sales as families came together over the long weekend,” she said. “Non-food performance was more uneven: demand was robust for computers, toys, and homeware, but clothing and footwear continued to struggle.” The Middle East turbulence, she added, had also bled into the tills of retailers selling travel-related goods.

For SME operators in hospitality, leisure and retail, the message from March’s numbers is mixed but instructive: British consumers are still willing to spend — but increasingly on their own doorstep, and with one eye firmly on what July’s energy bills might bring.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Harmony Biosciences Holdings, Inc. (HRMY) Presents at 25th Annual Needham Virtual Healthcare Conference Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Harmony Biosciences Holdings, Inc. (HRMY) 25th Annual Needham Virtual Healthcare Conference April 13, 2026 9:30 AM EDT

Company Participants

Jeffrey Dayno – President, CEO & Director
Adam Zaeske – Executive VP & Chief Commercial Officer
Kumar Budur – Executive VP and Chief Medical & Scientific Officer

Conference Call Participants

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Ami Fadia – Needham & Company, LLC, Research Division

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Ami Fadia
Needham & Company, LLC, Research Division

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Good morning, everyone. I’m Ami Fadia, biotech analyst here at Needham. It’s my pleasure to be hosting the Harmony Bioscience team today. I have with me Jeff Dayno, who’s the CEO of the company; along with Kumar Budur, Chief Scientific Officer; and Adam Zaeske, Chief Commercial Officer. Thanks, all 3 of you for taking the time to be with us today.

Question-and-Answer Session

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Ami Fadia
Needham & Company, LLC, Research Division

Maybe if I could ask Jeff, if you could kick us off with some opening remarks, some priorities for this year, and then we can take it from there?

Jeffrey Dayno
President, CEO & Director

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Yes. Sure, Ami. Yes, Ami. And on behalf of the Harmony team, thank you once again for the invitation to Needham’s Virtual Healthcare Conference. And we are very excited for what is coming this year, that sets us up for both near-term and long-term growth and value creation. As for some of our key priorities, just to sort of walk through, starting with WAKIX. So we are on track to achieve over $1 billion in net revenue for WAKIX in its sixth year on the market, which provides us with a very solid foundation, I think, as many are aware.

In our pitolisant next-gen programs, pitolisant GR gastro-resistant is on track for NDA submission this quarter to extend the pitolisant franchise with a target PDUFA date in the first

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Amazon to spend $11bn on satellite firm in growing Starlink rivalry

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Amazon to spend $11bn on satellite firm in growing Starlink rivalry

Amazon wants to get thousands more satellites into orbit to offer internet and mobile services.

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Entrepreneur Sara Davies teams up with sister to launch new business podcast

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Mind Your Business aims to champion small business owners, workers and entrepreneurs

Sara Davies in the studio

Sara Davies in the studio(Image: Sara Davies and Helen Goddard)

Former Dragons’ Den star Sara Davies has teamed up with her entrepreneurial sister to launch a new light-hearted podcast aimed at small business owners. Sara and younger sister Helen Goddard have launched Mind Your Business, a weekly podcast which aims to offer down-to-earth advice and constructive light relief for small business owners and entrepreneurs.

Helen owns and runs The Decorating Centre Online (DCO) in Durham, while former Strictly star and TV presenter Sara owns Crafter’s Companion alongside investments in a host of companies – some of which she backed in her Dragon days – so they have more than 30 years of combined business experience to pass on to listeners.

And they told how they are on a mission to make small business owners and workers feel supported, seen and empowered to grow. It comes as latest figures show that over 99% of UK businesses are SMEs, and Mind Your Business aims to spotlight and lift up the millions of people running or working in them, helping them to navigate the small stuff and the big obstacles, with lots of good humour.

Each week, Sara and Helen share insights and actionable tools, while providing a moment to step out of regular work-think routines and chat through everything from the realities of being your own boss, LinkedIn vs reality, and managing cash flow, to staffing, imposter syndrome and how to maintain that tricky work-life balance.

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The siblings follow the same strong work ethic but have so far enjoyed very different careers, so they each bring their own perspectives to the table. Helen’s corporate background was in the automotive industry before taking over the family business DCO 10 years ago, growing it to 15 times the size, and she knows all too well what challenges small business owners face.

Helen Goddard and Sara Davies have launched a new business podcast

Helen Goddard and Sara Davies have launched a new business podcast(Image: Sara Davies and Helen Goddard)

Meanwhile Sara applies her lens of entrepreneur, investor and mentor to small businesses. Mind Your Business podcast will also have a community on Facebook, where small business owners and workers can share their own advice, celebrate wins, and connect with like-minded entrepreneurs as well as contribute to a bonus weekly Q&A episode.

Sara said: “I’m so excited that Mind Your Business is finally out there and I’m delighted to be working with my sister on something so close to our hearts. We want to have conversations that truly speak to the 16.6 million people in small businesses about what’s important to them. You could own a florist, work as a plumber, be launching a marketing agency or running a catering service. These people are the backbone of our economy – working during challenging times – and deserve to be championed, supported and hopefully helped on their way as they grow.

“Our Helen and I want to offer a safe space each week in the podcast and community where we can all learn by sharing our learnings, losses and wins – but over a brew, not a boardroom table!”

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Helen added: “Running a business myself, I’m aware of how isolating it can be. There are millions of us out here in similar situations – working long hours, juggling family life, or trying to get an idea off the ground. I’m passionate about bridging the gap in community and offering real talk about the nuts and bolts – and the highs and lows. Mind Your Business is aimed at people just like me and hopefully we can be part of something that has a meaningful impact on our working lives and helps celebrate the achievements so many of us can overlook.

“We are from a business-focused family and we’re literally recording in what used to be our Sara’s office and before that, Sara’s first bedroom! So do expect the odd input from our mam and dad – or more likely just them popping in to tell us the roast is nearly ready.”

The first two episodes of Mind Your Business are available to listen to now on all major podcast platforms.

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Building a Career in Modern Endodontics

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Building a Career in Modern Endodontics

A Career Built on Curiosity and Care

Erin Waid did not take a straight path into dentistry. Her career evolved step by step, guided by curiosity and a strong interest in patient care.

“I’ve always been drawn to helping people in a hands-on way,” she says. “But I also wanted to understand the science behind what I was doing.”

She grew up in Belle Chasse, Louisiana, just outside New Orleans. Her early life was shaped by both discipline and education. Her father was an attorney. Her mother worked in early childhood education. That balance of structure and care would later show up in her work.

In high school, she ran cross-country. “That taught me consistency,” she says. “You don’t see results overnight. You show up every day.”

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That mindset would follow her through a long and demanding academic journey.

Education Path: From Biology to Dentistry

Waid began with a Bachelor of Science in Biology from the University of Portland. At that point, dentistry was not yet the goal.

Instead, she pursued nursing. She earned her Master of Science in Nursing from Seattle University and trained as a Family Nurse Practitioner.

“I wanted to understand the whole patient, not just one system,” she explains.

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Her performance stood out. She was nominated for the Graduate Student Excellence Award, based on academics, leadership, and community work.

But over time, her interests shifted.

“I started to realize I wanted to work more with procedures and problem-solving,” she says. “Dentistry gave me that.”

She enrolled at Oregon Health and Science University (OHSU) and earned her Doctor of Dental Medicine. During that time, she received multiple honors, including the Dean’s Research Scholarship and an award in Oral Biology.

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Her research focused on early childhood dental care. “I was interested in why some treatments worked differently across patients,” she says.

That interest in detail and precision led her to specialize further.

She completed her endodontics residency at OHSU, where she also contributed to research later published in 2025.

Career Timeline: From Clinics to Specialization

Waid’s early career reflects a wide range of clinical experience.

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She began in research roles, working as a Research Assistant and later as a Clinical Research Coordinator. These roles exposed her to patient monitoring, data collection, and clinical protocols.

“It taught me how to think critically,” she says. “You don’t just follow steps. You ask why.”

She then worked as a Family Nurse Practitioner in dermatology and medical aesthetics. Her work included treating skin conditions and performing cosmetic procedures.

From there, she moved into dentistry full time.

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At OHSU’s Russell Street Clinic, she worked as both a General Dentist and Assistant Professor. She treated patients while also teaching dental students.

“I enjoyed mentoring,” she says. “It forces you to stay sharp and explain your thinking.”

She later worked in emergency dental care, handling urgent cases like trauma and infections.

“That environment teaches you to make fast, accurate decisions,” she explains.

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In 2024, she stepped fully into her role as an endodontist. Today, she practices at Salem Endodontic Associates and Multnomah Endodontics and Microsurgery.

What Does an Endodontist Do?

Endodontics focuses on the inside of the tooth. This includes the pulp, nerves, and root system.

Waid’s daily work involves diagnosing tooth pain, treating infections, and performing procedures like root canals and microsurgeries.

“A lot of patients come in anxious,” she says. “My job is to solve the problem and make the experience manageable.”

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Her background across nursing, research, and general dentistry gives her a broader perspective.

“I look at the full picture,” she explains. “Not just the tooth, but the patient’s history and concerns.”

Leadership in Dentistry and Research

Waid’s career shows a pattern of steady progression and depth.

She is a member of the American Association of Endodontists and the Marshall Baumgartner Endodontic Study Group. These groups focus on ongoing education and collaboration.

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She also continues to stay connected to research.

“Dentistry changes fast,” she says. “You have to keep learning.”

Her published work and academic background support that approach. She is not just applying existing methods. She is also contributing to the field.

Philanthropy and Community Work

Outside of clinical work, Waid has been active in community service.

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From 2018 to 2021, she served on the Ryan White Planning Council in Multnomah County. The group helped decide how to allocate $3 million in federal funding for HIV/AIDS programs.

“That work gave me a different perspective,” she says. “It’s about impact at a systems level.”

Earlier in her life, she was involved with the Seafair Organization in Seattle. She served as Miss Seafair and later mentored young women in the scholarship program.

“It was about building confidence and communication skills,” she says.

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A Practical Approach to Growth

Waid’s career is not defined by one big leap. It is defined by consistent progress.

She moved from research to nursing, then to dentistry, and finally into a specialized field. Each step built on the last.

“I didn’t plan it all at once,” she says. “I followed what interested me and where I could grow.”

Today, she continues to focus on patient care, technical skill, and ongoing learning.

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Her interests outside of work are simple. She enjoys running, golfing, and spending time with her family.

“It helps me stay balanced,” she says.

Final Thoughts: A Career Built Over Time

Erin Waid’s path shows how careers can evolve through exploration and discipline.

She combines clinical skill with research, teaching, and community involvement. That mix has positioned her as a steady presence in her field.

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“I think success comes from staying curious,” she says. “And being willing to keep improving.”

Her story is not about shortcuts. It is about showing up, learning, and building expertise over time.

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Genenta Science receives Nasdaq notice on minimum bid price compliance

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Genenta Science receives Nasdaq notice on minimum bid price compliance

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Prudential Financial: Recent Pullback Provides A Buying Opportunity In Subordinated Notes

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Prudential Financial: Recent Pullback Provides A Buying Opportunity In Subordinated Notes

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Structure Therapeutics names Matthew Lang as COO and counsel

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Structure Therapeutics names Matthew Lang as COO and counsel

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'Bit of pain' worth long-term security from Iran, Bessent tells BBC

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'Bit of pain' worth long-term security from Iran, Bessent tells BBC

Scott Bessent said a “small bit of economic pain” was worth it to eliminate the threat of Iranian strikes on Western capitals.

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CTA: Good Diversifier, Good Buy

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CTA: Good Diversifier, Good Buy

CTA: Good Diversifier, Good Buy

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Why Sustainable Promotional Products Are Reshaping How SMEs Build Brand Loyalty

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Why Sustainable Promotional Products Are Reshaping How SMEs Build Brand Loyalty

Handing someone a cheap plastic pen with your logo on it used to be standard practice at trade shows and networking events. That era is fading fast. Businesses across every sector are rethinking what they give away, and the shift toward eco-friendly alternatives is not just a trend but a competitive necessity.

For small and medium-sized enterprises in particular, the choice of promotional merchandise sends a message far beyond the logo printed on it. A reusable bottle or a notebook made from recycled materials tells a client that your company takes responsibility seriously. It also happens to be the kind of item people actually keep and use, which is the entire point of a giveaway in the first place.

Specialists like Greengiving have built entire catalogues around this idea, offering everything from seed paper to Fairtrade cotton bags. The growing demand from corporate buyers, government bodies and institutions suggests this is no passing fad. When organisations like McKinsey and L’Oréal are choosing sustainable giveaways, SMEs would be wise to pay attention to what that signals about market expectations.

The Real Cost of Throwaway Merchandise

Most traditional promotional items end up in a bin within a week. Research from the British Promotional Merchandise Association has repeatedly shown that usefulness is the top factor determining whether a branded item is kept or discarded. A flimsy keychain or a single-use plastic item fails that test almost every time.

There is a financial argument here too. Ordering five hundred cheap items that nobody wants is not a saving. It is a waste of budget that could have gone toward fewer, better products that actually sit on someone’s desk for months.

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Sustainable alternatives tend to score higher on perceived value. A bamboo pen or a reusable coffee cup feels like a considered gift rather than a piece of marketing clutter. That distinction matters when you are trying to make an impression on a potential client or partner.

What Today’s Buyers Actually Want to Receive

The range of eco promotional products available now would surprise anyone who has not looked at the market recently. Seed paper that sprouts into wildflowers, erasable notebooks that replace hundreds of disposable ones, and drinkware from certified B Corp brands are all standard options. Even sweets and chocolates from ethical producers can be branded and gifted.

Practicality remains king. Items people integrate into their daily routine generate far more brand impressions than anything that ends up in a drawer. A Fairtrade cotton tote bag used for weekly shopping, for example, puts your logo in front of dozens of people every time it leaves the house.

Personalisation has also improved dramatically. Full-colour printing on recycled materials looks sharp and professional. The old excuse that eco products look dull or amateurish simply does not hold up anymore.

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Aligning Giveaways With Your Brand Values

Choosing sustainable merchandise is not just about the product itself. It is about coherence. If your website talks about corporate responsibility but your conference stand is handing out plastic tat, that disconnect will not go unnoticed.

SMEs actually have an advantage here over larger corporations. Decisions can be made quickly, supply chains are shorter, and there is less bureaucracy between the idea and the execution. Switching to greener promotional items can happen in a matter of days when you work with a specialist supplier that holds stock and handles printing in-house.

Greengiving, for instance, operates its own printing facility and offers quotes within a single working day, with free delivery across the EU. That kind of speed matters when you have an event next week and a brand image to protect.

Measuring Impact Beyond Impressions

Marketing teams love to talk about impressions, but the real value of a promotional product lies in the relationship it reinforces. A thoughtfully chosen gift creates a moment of genuine appreciation. That emotional response is something a digital advert struggles to replicate.

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Tracking the return on promotional merchandise is admittedly harder than tracking clicks. But consider what happens when a client pulls out a branded reusable bottle during a meeting with someone else. That is an endorsement no amount of paid media can buy.

For SMEs operating on tighter budgets, every pound spent on marketing needs to justify itself. Sustainable promotional items tend to have a longer lifespan, which stretches the cost per impression further than disposable alternatives ever could.

Where the Market Is Heading

EU regulations around single-use plastics and corporate sustainability reporting are tightening year on year. Businesses that shift toward greener promotional strategies now are simply getting ahead of requirements that will eventually become mandatory. Waiting until legislation forces the change means missing out on the reputational benefits of being early.

The promotional products industry itself is evolving rapidly, with platforms like Greengiving cataloguing over 1,200 eco-certified items aimed exclusively at business buyers. Consumer expectations around sustainability are only moving in one direction, and the brands people choose to work with reflect those expectations.

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Smart SMEs are already treating their promotional merchandise as an extension of their sustainability strategy rather than an afterthought. The question is no longer whether to make the switch, but how quickly you can make it work for your brand.

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