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Tag: UK

Fish and Chips

Explaining How British Food Marketing Works

Posted on by Marianne Kaiser

The marketing and promotion of British food and drink must be improved in order to reach a wider audience. For businesses in England who want to start or boost exporting, the current postcode lottery of regional support is unfavorable. We applaud the sector for taking the initiative to make this better with the proposed Food and Drink Manufacturing Sector Deal proposal. However, government strategy must support this.

The Government ought to make public its Shared Prosperity Fund consultation. The consultation should contain recommendations for boosting the competitiveness of SMEs with a sector breakdown that includes the manufacturing of food and beverages. The UK Government should consider what it can learn from the support given by the Devolved Governments to SMEs in their countries when developing new support for English businesses.

Any business, no matter where it is located, will receive support from the government for exporting. There is a vast network of over 240 International Trade Advisers in England, many of whom have specialized knowledge in food and drink, and we continuously examine our service to ensure that it offers the proper offer to businesses throughout England.

Based on the distribution and density of businesses in the areas, we provide regional financing to our English teams. Compared to other European nations, the UK has significant regional productivity inequalities. To assist establish prosperous communities across the UK, we are continuing to develop the Northern Powerhouse and the Midlands Engine regions, for instance. We acknowledge that different policies will be required for various locations; regional methods can aid in expanding skilled labor pools, stimulating competitiveness, and enhancing market access.

In the UK, every region has a part to play in growing the overall economy. In order to increase productivity, we will build on the solid foundations laid by our city’s growth and devolution agreements and continue to collaborate with local authorities.

The government’s export assistance will provide a level playing field for all UK enterprises, particularly the SMEs that dominate the country’s food and beverage industry. Naturally, we respect our partnership with the devolved administrations and rely on their knowledge to make sure the interests of their companies are taken into account when the government promotes trade and investment.

The UK Shared Prosperity Fund and local growth funding’s future must be made clear, according to the government, who recognizes its importance. We have already done 25 engagement events around the UK and will consult widely on the fund. A variety of corporate representatives attended these and had the chance to voice their opinions and contribute to the creation of policies.

Promoting British food and drink overseas requires attending international trade events. The Tradeshow Access Programme (TAP) is regarded by the industry as a crucial tool for enterprises, especially SMEs, looking to expand into new markets. We acknowledge that there may have been adequate justifications for the budget’s minor drop up until 2016. The Government should have foreseen the increasing need for British enterprises to access and advertise themselves to new markets, nevertheless, in the wake of the EU referendum. Instead, as part of a continuous trend of reduced financing, TAP spending on food and drink has plummeted by 10% since 2017–18. Grant opportunities for businesses have grown more limited, however we appreciate the growing emphasis on SME

The Tradeshow Access Programme has to be quickly evaluated in cooperation with industry and trade organisations given the government’s export goals. In the next Spending Review, funding has to be examined and maybe boosted.

The Government should explain why the TAP budget has been underspent each year since 2014–15 in its response to our Report, especially given that the number of grants available per company has decreased. The total TAP budget for all sectors is 온라인카지노사이트 in accordance with the decision made in the most recent Spending Review. The amount spent on events in the food and beverage sector is in line with the total TAP budget.

We consistently assess the performance of our services and programs to make sure they produce the best results for UK businesses. To make sure we are obtaining the most benefit and value from TAP, we are now doing an independent evaluation of it. Customer demand drives TAP spending. The amount actually spent depends on how many applicants across the program are accepted. 313 events received funding from the TAP program for 2018–19, while 3,256 SME enterprises received funds. The TAP program for 2019–20 is anticipated to sponsor 255 events and award funds to 3384 SME companies.

Market access and sustaining continuing discussion about British food and drink have benefited from having a professional food and agriculture specialist on the ground in China. We anticipate this presence in China to continue since commerce and diplomatic ties take time to develop. We are pleased with the steps the government is taking to boost the number of these specialists in other important markets.

Currently, 90% of the Food and Agriculture Counselor in China is funded by the AHDB. However, because the AHDB is a levy-supported organization, this means that the position is primarily funded by British food and farming firms with an emphasis on raw agricultural commodities. This has created helpful synergies. However, exporting branded and value-added goods is another area where the UK excels. We advise that the Government and the larger food and drink industries co-fund Food and Agriculture Counselors in other markets, even if the AHDB should continue to give some money.

The Committee’s recognition by the Government that ongoing discussions and talks with Chinese authorities have resulted in higher exports and improved access for food and drink goods pleases the Government. The Government additionally acknowledges the significance of the Agricultural Counselor’s and their team’s contribution in China in accomplishing these results.
The Chinese Food and Agriculture Counselor job will continue to be studied by the government as an example and a model for success. We are collaborating with the business community to determine the priority nations where comparable assistance can help UK food and beverage exports. We …

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Business in UK

Lowest Level of Business Confidence Since 2009 in the UK

Posted on by Marianne Kaiser

According to recent data, the UK’s business confidence dropped to 18% in October, marking the lowest level in at least 13 years.

The most recent UK business outlook report from Accenture and S&P Global compares this to net balances of confidence of 28% in June and 56% in February.

According to the report, UK market optimism was remained higher than other European markets.

There were 12,000 enterprises questioned for the quarterly report on business optimism, including 1,400 in Britain.

Despite challenging economic conditions, businesses’ perspective for the future remained largely positive, with 41% expecting output to increase and 23% expecting a decrease.

As many as 12 of the 14 sectors covered by the survey predicted growth, led by strong expectations among manufacturers of transport and electrical goods.

Hospitality was the only industry to signal a pessimistic outlook, with fears of reduced customer spending and high energy costs.

Sources: Accenture, S&P Global

UK companies were much more confident of an increase in activity than elsewhere in Europe (+4%), while companies in Germany and Spain provided negative projections for the next 12 months.

The outlook for UK companies was also one percentage point above the global average of 17%. Inflationary pressures remained high over the period, with 80% of companies planning to raise their wages in the next 12 months in light of the cost of living crisis and difficult labor market conditions.

Selling prices are also likely to rise sharply, however, the data showed, not fast enough to offset a negative earnings outlook. Similarly, -13% of companies expect lower profits over the next 12 months.

Read more: As ESG Draws Fire, Vanguard Expands Sustainable-Funds Lineup

Pessimism about profits has led companies to plan cuts in both capital spending and R&D spending. They were the lowest seen since the decline during COVID-19 in 2020, with net balances of -7% and -8% respectively.

Employment is still expected to rise, although hiring intentions have fallen to a two-year low. Sentiment among companies on hiring the skills they need over the next 12 months remains broadly unchanged from 2021, although the percentage of businesses lacking trust has dropped slightly from 40% to 35%.

Only half of the companies surveyed were confident in hiring entry-level staff, while only 29% expect to find experienced candidates. Companies are very likely to prioritize hiring employees with operations (28%), sales and marketing (18%), and digital skills (15%).

Look: what is a recession and how do we detect it? Simon Eaves, Accenture’s market unit leader in the UK and Ireland, said: “As we approach what is likely to be a difficult winter for the UK economy, business confidence has understandably taken a hit.

“However, many UK companies continue to show resilience in the face of economic difficulties. Recruitment plans remain positive and overall optimism, although contained, is higher than that of many of our European counterparts.

Read: Finance Transformation Lead: Tax & Treasury

“During these challenging times, businesses need to stay focused on the long term and plan for the next growth cycle to stay competitive. They can do this by looking to reinvent their operations across the company, invest in new technologies and skills, and embed sustainability in everything they do.”

Earnings forecasts were negative in most regions, but with investment expected in the North West and West Midlands.

Only Northwest firms expect higher levels of both CAPEX and R&D spending in 12 months (+7%). Businesses in the West Midlands also expect a strong balance between business and employment, at + 17% and + 15% respectively.

More generally, businesses across the UK expect business levels to improve 카지노사이트 추천. Only Northern Ireland businesses expect a decline in activity (net balance -12%), with a negative employment forecast.

Look: How does inflation affect interest rates?…

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