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Weekly Trade Update: 07/11/24

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Weekly Trade Update: 07/11/24
Strategies to grow your SME in a competitive market
Tech-focused trade talks resume with South Korea
Customs 101 – Part One

Strategies to grow your SME in a competitive market

Around 20% of small businesses fail within their first year, so to beat these odds, its crucial to implement strategies to grow your business. Business growth can be about customer retention, building a solid reputation, ensuring long-term sustainability, or maintaining steady revenue. Putting some of the tactics mentioned in this article into action will not only grow your business but also secure its future in the long run.

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Tech-focused trade talks resume with South Korea

The UK government has restarted talks on a modern trade deal with South Korea, set to unlock big opportunities for UK businesses. Our current trade deal, negotiated more than a decade ago, has no digital chapter, and requires modernisation in several other areas. The UK’s digital sector was worth £158.3 billion in 2022 and is a huge driver of economic growth. Modern digital provisions in a trade deal could establish new opportunities for businesses to export to South Korea. Jonathan Reynolds, Business and Trade Secretary, said: “Both the UK and South Korea are renowned as global leaders in technology. Our high-tech economies have so much more we can do together once our trade deal is upgraded.”

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Customs 101 – Part One

In our new 6-part video series, Customs 101, we are breaking down the potentially confusing, but incredibly important topic of Customs. Our first video covers the role and purpose that Customs plays in the world of international shipping. Ever wondered why customs paperwork is so strict? The process is made as airtight as possible to help keep you, your business, and your customers protected from fraudsters and illegal activity.

Watch the series!