#News&Insights

Weekly Trade Update: 18/01/24

18 January 2024

UK to boost supply chain resilience and support businesses

The UK Government has launched a new Critical Imports and Supply Chains Strategy to safeguard the UK’s supplies of critical goods. By using cutting edge technology, the government will be able to understand the impacts of shocks on the supply chains to plan for the future. The goal of this is to support business and continue to grow the economy in times of uncertainty. Minister for Industry and Economic Security, Nusrat Ghani, said: “With this strategy we’re equipping businesses, so they no longer have to rely on unpredictable partners for the supplies of the goods that keep our country going. By making supply chains stronger we’re helping to make the UK a truly safe and reliable place to do business.”

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Checkout optimisation tips to increase e-commerce revenue

A poor checkout page can often be the reason a customer abandons their cart. A study has shown that just 3 in 10 shoppers who add an item to their basket will complete their purchase. Providing customers with a smooth checkout process can make all the difference. The article below offers some tips on how you can optimise the checkout process to reduce cart abandonment rates and convert browsers into buyers.

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Upswing in small business sector

New research has found that 8 in 10 SME owners across all market sectors have plans to strengthen their business this year. With many still feeling the effects of the cost-of-living crisis, there is a large push to drive business sales and income. Jo Morris, Head of Insight at Novuna said: “it is positive that such a large proportion of small businesses are focusing on new growth initiative as we start a new year.”