Also in the news...
How to Build a Rewarding Work Environment That Employees Love
In today’s workplace, building a rewarding environment where employees feel valued and motivated is crucial for business success. Employees who love where they work are more engaged, productive, and loyal, which leads to better overall performance for the company.
Why UK Businesses Expanding Abroad Need Conveyancing Solicitors
As UK businesses increasingly look to expand their operations overseas, the importance of having the right legal support cannot be overstated. One of the key areas where businesses face significant challenges is in navigating foreign property transactions.
Navigating Crypto Regulations: What Investors Need To Know
Cryptocurrencies have shifted from niche investments to mainstream financial assets, attracting retail and institutional investors. With this rise in popularity, the regulatory landscape has become increasingly complex, presenting new challenges for those looking to invest. Understanding these regulations is vital for navigating the crypto market confidently.
Sweden: UK Science and Innovation Network
A summary from UK Science and Innovation Network (SIN) on science and innovation in Sweden including UK SIN priorities and successes.
Apply for an export certificate
Apply for an export certificate to establish products in overseas markets.
UK retailers get export and investment action plan
Vince Cable launches UK Retail Industry International Action Plan at Retail Week Live the largest annual gathering of senior retailers.
The government is backing Britain’s retailers in their bid to expand into fast-growing and lucrative overseas markets.
Business Secretary Vince Cable today launched the UK Retail Industry International Action Plan at the largest annual gathering of senior retailers, Retail Week Live. The Action Plan was developed by UK Trade & Investment (UKTI) in association with the retail industry.
The global retail sector has held up well in recent years recording a compound annual growth rate of seven per cent. Sales are expected to grow by eight per cent annually through to 2016.
Business Secretary Vince Cable said:
The retail industry is a significant contributor to the UK economy employing more than three million people and generating £300 billion for our economy. British brands have a deservedly world class reputation for sustainability, quality and innovation.
The UK’s dominance in e-commerce puts retailers in a world-beating position to capitalise on the fast growing demand for British goods and luxury brands.
As we rebalance the economy with more export-led growth, retail has an important role to play. With this action plan UKTI will back small and large retailers across the UK to grow and expand into new export markets.
British Retail Consortium Director General Helen Dickinson said:
British retail is world class and given the opportunity can be more successful in markets across the globe. We are delighted that UKTI, working together with the rest of government and with the retail industry, recognises the strength of British retail and is committed to helping it prosper in world markets.
This International Action Plan should make a real difference. It will ensure that retailers who need help and advice get it, and that the British government’s efforts to tackle barriers to trade overseas are properly co-ordinated.
The two-year Action Plan sets out three major campaigns led by UKTI to assist retailers to grow internationally:
- support for retailers to use all the available ways to reach international customers. Britain’s 228,000 online retailers already export more than the rest of Europe’s e-retailers put together
- targeting the rapidly growing number of middle class consumers in priority markets where British luxury brands are highly prized including Mumbai, Beijing, Istanbul, St Petersburg, Shanghai, Mexico City, Sao Paulo and Warsaw
- working with retailers to develop the UK experience economy offer to offshore customers. UK firms are well placed to win new international business leveraging Britain’s unrivalled expertise at marrying retail opportunities with leisure and cultural institutions when developing new shopping destinations.
Building on London’s status as the world’s shopping capital UKTI will use its global network to attract more of the world’s leading retail brands to invest and locate here.
Plans for Ministers to promote the retail sector internationally, work to resolve market access issues and support for retailers to re-engineer their supply chains are also outlined.
gov.uk