Small red lump on dogs paw

[Hs1994]

My 1 year old pug has a raised red lump on his paw. It lies over the bone and is fairly soft, it has some hair growth over it but not full. I've never seen him lick it and it doesn't seem painful to touch.

Any ideas what it could be? We will obviously take him to the vet but wanted to see if it changes first as we always seems to rush to the vet, get a £30 bill and then be told there's nothing wrong.

Thanks in advance