For most businesses, the pandemic caused a year-and-a-half of turmoil. However, it was particularly difficult for startups that were trying to disrupt and pave the way.
Yet, many entrepreneurs continue to push forward with their new ventures and expand existing businesses.
This is Money selected the top small business owners who were able to withstand the epidemic and others who started despite all the odds.
We asked our respondents to tell us what their business had accomplished in 2021 as well as their plans for next year.

Rio Ferdinand, a former footballer has supported Sokin’s new money transfer business.
Sokin is looking for growth
Rio Ferdinand has been backing the global money transfer startup since it was launched in summer.
Vroon Modgill is a former footballer and Sokin founder. We talked to him about his plans for Sokin to challenge Wise.
Sokin in Japanese means “money transfer” and boasts over 60,000 clients. Another 100,000 are on the waiting list.
Its global currency account charges £9.99 a month for unlimited overseas transfers in 38 currencies to over 200 countries, as well as use of a debit card. The service will soon be available in North America.
The basic account includes a free IBAN account, payment card, and the ability to send money free of charge.
By comparison, money transfer giant Wise, which recently listed in London, charges £3.69 per transfer. Its ‘fast and easy’ transfer costs £6.67.
Modgill views Sokin as personal. The idea was born out of frustration at the tedious paperwork and costs his father had to handle when he sent money home to India.
Ferdinand was adamant about the issue and met Modgill via a friend. He has now donated six figures to Sokin.
‘I’m from a background where you always saw and heard people transferring money and you heard the difficulties and stress around that, not only from their end but the people receiving the money as well… it’s not something you forget,’ he told This is Money.
Sokin’s 2022 outlook. Modgill said that he was keen to concentrate on growth when This Is Money interviewed him.
“As a young startup, growth is important for us. His company is very competitive for its geographical expansion and fast speed. However, he also says they want to expand and maintain their partner network and keep working with the best football and sports brands around.
We hope customers continue to see Sokin’s name on screens and in community venues. This will keep us top of mind.
“Ultimately, we desire to be the preferred provider for international transfers and currency exchange.”
Lightyear is available for liftoff
Retail investors have many options for comission-free trading with the likes Freetrade or eToro.
The founders of Lightyear (another app launched in this year) believe they can improve the user experience.
Martin Sokk and Mihkel aamer, former Wise coworkers, became disillusioned with other apps.
Investors are increasingly drawn to US stocks like Amazon and Tesla. However, the conversion fees charged by trading apps mean that they have to pay high currency charges for already expensive stocks.
Lightyear plans to eliminate this obstacle by providing multi-currency accounts to its customers and “free” access to global markets.
Account and trading fees will be waived, as well as foreign currency charges, which is a major difference to other apps.
After investing £3,000 per month, users will have to pay 0.35 per cent in FX fees.

Martin Sokk, an ex-Wise employee, and Mihkel Amer launched Lightyear in the summer
Lightyear already has the support of some major names, including Taavet Hinrikus (Wise founder) and Eileen Burbidge (early Monzo backer).
Sokk sat down with us to discuss how launching a company in 2021 was difficult and the future of Lightyear.
“Lightyear was an idea last year.” He said that it was amazing to have created the company and raised funding in two rounds. The app has been launched to the UK market, as well, all in less than a year.
“Of course that doesn’t mean the past 12 months were without their challenges.
“The pandemic means that our team has to adjust to spend less time in person with each other than they would have liked during this stage.
‘[But]Being scattered across Europe helps us understand different cultural differences and build an investment product that is effective in every country.
Cheeky Panda has been successful despite all the stress of shipping
This is Money has launched a new series that examines sustainable British businesses who have been awarded B Corp certification.
B Lab (a non-profit organization) created B Corp certification. The US gained a lot of attention and the UK launched the UK division in 2015.
The bank has silently certified more than 500 British firms since then. This includes the Queen’s bank Coutts.
Chris Turner from B Corp UK was interviewed by us to find out if the B Corps’ rapid growth could affect the integrity of their certification.
One of its certified companies is The Cheeky Panda, founded in 2016 by husband and wife team Chris Forbes and Julie Chen.
This company, which makes eco-friendly bamboo kitchen roll, toilet paper and nappies has received a B Corp certificate in 2019. It is also FSC certified.
“We use the packaging space at the back to tell the story. This is very similar to Fairtrade Coffee’s approach. Forbes shared these environmental messages with This Is Money.

Chris Forbes and Julie Chen are the Cheeky Panda’s husband-and-wife team and they plan to go public with their IPO.
The Pandemic, which saw customers panic about lack of toilet rolls on supermarket shelves in 2020, was a boon for The Cheeky Panda’s sales.
It started last year with an average of £300,000 sales a month and peaked at around £1.3million by May.
More than 12million of its products have been sold in over 25 markets throughout Europe, China, USA, China and Middle East.
Sales have grown exponentially in the past three years, from £100,000 in 2017 to £5.7millon in 2020.

Forbes stated, “It was more than a spike. It just drove adoption faster because it put our products in millions of hands. Fortunately, a large percentage of these customers have stayed with me and we’ve grown from there.”
After a difficult second half, Forbes was available for interview.
Forbes stated that the company had faced supply chain problems with record shipping costs and congestion. This would make it difficult to manage in good times.
“But we also are experiencing an increase in demand. It’s incredible how well our team managed to respond to these pressures and ensure that customers continue receiving their products.
He continued, “We have also begun to expand across the EU and USA.”
“We found that consumers are seeking high-quality eco-friendly alternatives regardless of where they live, whether it’s in London, Edinburgh or New York.
“The company has now sold in over 30 different countries. This is quite an achievement considering that the company was only five years old.
The company intends to IPO in mid-term and long-term. It also has the vision of making the beauty, tissue, and baby products mainstream. Watch this space….’
Small Business Essentials