January 2024 Newsletter

Happy New year everyone!

We hope you had a happy break - are you ready for a busy 2024?

 

This month we will be talking about:

• Expected trends for SMEs in 2024

• Important INCO terms for anyone that's unfamiliar or wants to learn more

• Working with us! What that means and a full list of all of our services.

As usual, we hope you enjoy our newsletter and please reach out if you have any questions!

 

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General trends that were relevant for small and medium-sized enterprises (SMEs) in the past, and which may continue to be important in 2024

 

Digital Transformation Acceleration:

SMEs are likely to continue adopting digital technologies to streamline operations, enhance efficiency, and stay competitive. This includes the use of cloud computing, data analytics, and automation to optimise various business processes.

 

Remote Work and Flexible Work Arrangements:

The trend towards remote work has been accelerated by the events of recent years. SMEs are expected to continue embracing remote work policies and flexible work arrangements to attract and retain talent, while also leveraging technology to ensure effective communication and collaboration.

 

Cybersecurity Focus:

As businesses increasingly rely on digital tools and platforms, cybersecurity becomes paramount. SMEs are expected to invest in robust cybersecurity measures to protect their sensitive data and customer information from cyber threats.

 

Sustainability Initiatives:

There's a growing emphasis on environmental and social responsibility. SMEs are likely to integrate sustainable practices into their operations, from supply chain management to product development, as consumers and investors become more conscious of the environmental impact of businesses.

 

Customer Experience Enhancement:

Customer expectations are continually evolving, and SMEs will likely focus on improving customer experience. This includes leveraging technology for personalised interactions, optimising online platforms, and using data analytics to understand and meet customer needs more effectively.

As ever, we are here to help SMEs to stay informed about the latest developments in their respective fields to adapt to emerging trends. We have lots of articles and resources to help you do that so head over to our website or social pages to see more of what you want!

 

Get in touch if you would like support in adapting or expanding your shipping operations!

0203 600 6006

[email protected]

Part of the InXpress Network

See our other resources

 

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Looking to expand your business and import good into the UK? Here are 5 things you need to be aware of to ensure smooth transit without risk of additional, unknown costs!

 

INCO Terms you need to know

What are INCO terms?

The International Chamber of Commerce (ICC) issues a set of international commercial terms, officially referred to as Incoterms, to promote global commerce. Widely acknowledged, Incoterms play a crucial role in eliminating confusion in international trade agreements by specifying the responsibilities of both buyers and sellers.

 

Customs Duties and Taxes: When importing into the UK, be aware of applicable customs duties and taxes based on the type and value of your goods.

 

EORI Number Requirement: Ensure you have an Economic Operator Registration and Identification (EORI) number, as it is mandatory for customs clearance in the UK.

 

Correct Documentation: Accurate and complete documentation, including commercial invoices, packing lists, and shipping labels, is crucial for a smooth import process.

 

VAT Payments: Understand the Value Added Tax (VAT) implications on your imports. Depending on your circumstances, you may need to pay VAT on imported goods.

 

Regulatory Compliance: Stay informed about specific regulations and product standards applicable to your imports, as non-compliance can lead to delays and additional costs.

 

P.S 

Don’t forget to include a valid contact email address and phone number for the consignee/receiver on the commercial invoice when sending international consignments.  With the INCO Terms, this will enable the local Customs authorities to process the consignment more smoothly.  Cutting corners and using your own will only result in a delay.  Our WebShip shipping portal allows you to generate a suitable electronic commercial invoice for Customs quickly and easily.

 

 

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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