Interest rates and UK SMEs - what's the score?
The pressure is still on and we are seeing an increasing number of customers who are looking to improve their shipping processes in order to retain customer loyalty and save costs where they can. Looking at the news, the stats seem pretty grim but there is hope.
"Financial markets expect the bank base rate – which dictates the rates on many types of loans – will keep climbing: it’s currently forecast to peak between 5.75% and 6% by the start of 2024.
Company insolvencies have already jumped by 40% over the year to May 2023 in England and Wales – the highest level since monthly records began in January 2019. And significant debt problems within an industry or even one firm can cause a domino effect across the UK economy."
Reported by www.theconversation.com - read the article here
The extension of the Enterprise Investment Scheme (EIS), driven by UK MPs, stands as a government-backed effort channeling private capital into fledgling startups in their initial stages. Working in tandem with the Seed Enterprise Investment Scheme (SEIS), the EIS has played a pivotal role in orchestrating a remarkable infusion of £30 billion into 52,000 startup ventures. Numerous thriving startups owe their early-stage development to these initiatives. However, it is important to note that the scheme currently operates under a sunset clause, which, unless extended, spells the conclusion of the EIS come April 2025. Such an outcome would prove immensely detrimental to the flourishing landscape of startups in the UK.
Is this something that could help your business? Let us know on our socials!
Retail and Consumer trends predicted for 2023 - how are they holding up?
We are looking back at Signifyd's consumer trends report and had some thoughts to share...
1. PAYMENT PREFERENCES ARE CONSTANTLY CHANGING
Absolutely, consumers expansion of choice are keeping our retailers on their toes, and we can also see this need for payment options spreading into the B2B landscape (who have been traditionally quite rigid on terms).
2. CONSUMERS SEE RETURNS AS A PART OF THE SHOPPING PROCESS
The hyper focus on online shopping during the pandemic cultivated a deeper expectation of "what we want, when we want it'. This means that naturally, more impulsive shopping behaviour has emerged and consumers are comforted by the safety net of easy returns. If this is not provided, they'll move onto the next supplier. With this in mind, we have been working with our customers to make sure the shipping products they select offer this service at a great price, without compromising on ease of delivery.
3. CONSUMERS HAVE DEMONSTRATED THAT THEY ARE COMFORTABLE SHOPPING ACROSS BORDERS
As long as the delivery times work, people seem happy to order from wherever the items they want is available. That's not to say that they are not wary, but as a result of this trend, we are seeing a rise in businesses that are investing in direct imports and also exporting to more countries, with greater frequency.
Contact us to get a quote for your next shipment, or to find out how you can expand your own business online, and overseas with our support.
Netflix's hit show 'Wednesday' launches this years Halloween retail trend
Wednesday Adams costumes are flying off the shelves so if you are looking for a trend to emulate online or in store this Halloween - this is the one!
We also predict we'll see many Barbie (possibly zombie Barbie) costume, "nepo babies' and even package delivery costumes! So, hold on to those cardboard boxes for a quick and easy costume next month....!
The EU launched phase 2 of their Import Control System (ICS2) regulations 1st March 2023. These regulations are now beginning to be intensified by both the EU and our carrier networks alike.
What are we doing to be compliant?
We have been monitoring shipper compliance with the regulatory changes alongside our carriers. We have found that a large portion of shippers still upload PDF copies of their Commercial Invoices, meaning these customers are at risk of having their shipments stopped by EU customs and returned and their outgoing and return shipping fees being billed by carriers. Think you might need a hand or want more information?
Please get in touch with the team if you have any questions or wish to book a shipment.
Thanks for reading!
Let us know if you have any questions, or would like a quote for your next shipment.
The InXpress London-East Team
0203 600 6006
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